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The Chairman and Chief Executive Officer of Air Peace, Dr. Allen Onyema, has strongly defended the current pricing structure of Nigerian airlines, arguing that despite public outcry over high ticket costs, Nigerians still pay the lowest domestic airfares globally when adjusted for operational realities and exchange rates. Onyema, who spoke during an interview on ARISE ...
...as Ndume urges Tinubu to suspend tax laws The House of Representatives Ad hoc Committee investigating alleged discrepancies in the gazetted Tax Reform Acts has pledged speedy and meticulous appraisals of the Acts to ensure quick reconciliation of the grey areas. Chairman of the committee, Rep. Aliyu Betara (APC-Borno), made the pledge in a statement ...
Oyo State Governor, Engr. Seyi Makinde, on Monday, signed the 2026 Appropriation Bill into law, noting that the N892 billion budget is designed to deemphasize consumption and aggressively focus on production to expand the state's economy. Speaking at the signing ceremony held at the Executive Chambers of the Governor's Office, Secretariat, Ibadan, Governor Makinde described ...
By Seun Ibiyemi The Federal Government through the minister of Information and National Orientation, Mohammed Idris hasaid that the Tinubu administration is focused on consolidating economic gains from 2025 and driving sustainable growth in 2026. This even as he highlighted the government’s economic achievements and plans during the Federal Government’s end-of-year media briefing in Abuja on Monday. ...
Dangote Petroleum Refinery has commenced nationwide sales of Premium Motor Spirit (PMS) at a pump price of ₦739 per litre across all MRS Oil Nigeria Plc filling stations. This move represents a significant milestone in the refinery’s mission to deliver affordable fuel to Nigerians and stabilize the downstream petroleum market. With over 2,000 MRS stations ...
…Lower prices, reduced minimum purchase volume drive surge in demand Dangote Refinery has emerged as a major hub for fuel distribution in Nigeria, following bold strategic adjustments aimed at making energy more affordable and accessible. The refinery recently announced a significant reduction in the pump price of Premium Motor Spirit (PMS) to ₦699 per litre, ...
By Olakunle Oke The proposed Nigeria Tax Reform 2025 is set to fundamentally reshape the nation’s fiscal landscape when it takes effect in January 2026. Speaking at the Nigerian NewsDirect X Space webinar yesterday, prominent tax expert Mr. Taiwo Oluwatobi provided an exhaustive breakdown of the reform’s implications for salary earners, the self-employed, and the ...
Ondo State has secured a revalidated federal licence for its proposed Deep Sea Port. Governor Aiyedatiwa received the revalidated licence on Thursday in Abuja from the Minister of Marine and Blue Economy, Chief Adegboyega Oyetola, following a brief ceremony at the ministry. The port licence was initially approved in 2023 under the administration of former ...
The Federal Government is facing significant challenges in translating its ambitious budget plans into real infrastructure spending, recording a 73.7 percent shortfall in capital expenditure during the first seven months of the year, according to data from the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) released by the Budget Office of the ...
President Bola Ahmed Tinubu has approved the reconstitution of the Nigerian Electricity Regulatory Commission (NERC) Board, following Senate confirmation of its members on December 16, 2025. This was contained in a statement signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy. The statement reads partly: “Dr Oseni started his service as ...
TotalEnergies Marketing Nigeria Plc has launched the TotalEnergies Mobility Card Plus (TEMC+), a next-generation mobility and payment solution designed to deliver enhanced convenience, security and operational control for customers across Nigeria. The product was officially unveiled in Lagos, with the company describing TEMC+ as a major upgrade aimed at meeting the evolving mobility and payment ...
In a landmark move set to redefine urban mobility and promote financial inclusion in Nigeria, United Bank for Africa (UBA) Plc, has announced a $100 million financing partnership scheme with CIG Motors, LagRide and Lagos State Government. By the partnership, tagged “Drive to Own”, UBA will be the key financier, offering loan subscriptions that will ...
By Seun Ibiyemi The Federal Ministry of Marine and Blue Economy on Wednesday launched its Enterprise Content Management System (ECMS), marking a significant step in its digital transformation and institutional reform agenda. The ECMS was jointly unveiled by the Honourable Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola and the Head of the Civil ...
By Seun Ibiyemi and Denis Matthew The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc following the revocation of their operating license by the Central Bank of Nigeria (CBN). The NDIC said the licences of the two mortgage banks were withdrawn ...
By Matthew Denis, Abuja With barely one week to Christmas, a cloud of despondency hangs over the Federal Capital Territory (FCT) as residents lament that the persistent and astronomical hike in the prices of staple food items has stolen the joy of the season, forcing families to make difficult choices between celebration and sustenance. A visit ...
The Chairman of Dangote Group, Aliko Dangote, has submitted a petition against the Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ahmed Farouk, to the Independent Corrupt Practices and other Related Offences Commission (ICPC), accusing him of corruption and financial impropriety. In the petition submitted through his lawyer, Ogwu Onoja (SAN), ...
By Seun Ibiyemi The Nigerian equities market commenced the week on a slightly positive note on Monday, recording marginal gains despite a significant decline in trading turnover compared to the previous session. Investors traded 553.2 million shares valued at ₦13.3 billion across 28,907 transactions. This marks a sharp contrast to Friday's session, where 571.7 million ...
The Nigerian Naira maintained a stable position against the United States Dollar on Monday, as activity in the foreign exchange market remained subdued amidst cautious investor sentiment. At the official market, the Naira exchanged at approximately ₦1,449 to the dollar, reflecting marginal movement compared to the previous trading session. Demand pressure appeared limited, while supply ...
…as allocation drops by N640bn compared to October …Oil tax, VAT, Import Duty record significant declines The Federation Account Allocation Committee (FAAC) has distributed a total of N1.928 trillion to the Federal Government, States, and Local Government Councils from the Federation Account revenue for November 2025. The figure represents a significant decline of N640 billion ...
The Federal Inland Revenue Service (FIRS) has debunked insinuations and online commentary suggesting that its recent Memorandum of Understanding (MoU) with France’s Direction Générale des Finances Publiques (DGFiP) compromises Nigeria’s data sovereignty. In a statement released to clarify the agreement, the tax authority assured the public that the partnership is strictly focused on technical assistance ...
...as Food inflation falls to 11.08%...Analysts credit strong harvest, stable Naira By Seun Ibiyemi Nigeria’s headline inflation rate eased to 14.45 percent in November 2025, down from 16.05 percent in October 2025, according to the latest data from the National Bureau of Statistics (NBS). The report, released on Monday, indicates a 1.6 percent decrease compared ...
By Seun Ibiyemi The Central Bank of Nigeria (CBN) plans to raise a total of N825 billion from the domestic debt market in the final round of sovereign issuances for 2025, highlighting the Federal Government’s sustained dependence on local borrowing amid elevated yields. The planned fundraise comprises N460 billion in Federal Government of Nigeria (FGN) ...
The President and CEO of Dangote Industries Limited, Aliko Dangote, has called for a full investigation and prosecution of the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk Ahmed, accusing him of economic sabotage that undermines domestic refining. Speaking at a press conference at the Dangote Petroleum Refinery ...
