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President Bola Ahmed Tinubu used his platform at the inaugural Northern Nigeria Investment & Industrialisation Summit (NNIIS) 2025 on Monday to strongly assert the region's central role in the nation's economic rebound pushing back against recent suggestions that his administration's benefits are unfairly concentrated in the South. The President's keynote address, delivered by the Minister ...
The Federal Government has secured N250 billion funding for light rail projects in Kaduna and Kano states as part of President Bola Tinubu’s drive to boost infrastructure development across the country. Minister of Information and National Orientation, Mohammed Idris, disclosed this on Monday in Abuja at a world press conference ahead of Nigeria’s 65th Independence ...
...assures Nigerians of uninterrupted products supply The Federal Government has clarified that there will be no suspension of the Naira-for-crude oil initiative, simultaneously assuring Nigerians of an uninterrupted supply of refined petroleum products nationwide. The assurance follows a high-level meeting of the Steering Committee of the Domestic Crude Oil and Refined Products Sales in Local Currency ...
By Seun Ibiyemi Unity Bank Plc has clarified that the 34 percent equity stake previously held by the Asset Management Corporation of Nigeria (AMCON) was acquired by an existing shareholder of the bank, not by Providus Bank Limited. In a statement over the weekend, the Bank explained that the stake, representing over 4.004 billion shares, ...
NLNG in collaboration with the Nigerian Content Development and Monitoring Board (NCDMB), on Friday achieved a major milestone in the Nigerian Content development commitment, with the close-out of Train 7 Project Human Capital Development (HCD) Advanced Training Programme, at the plant complex in Finima – Bonny Island. The training ends officially on 30th September 2025 ...
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has ordered its members to immediately cut gas and crude oil supply to the Dangote Petroleum Refinery, escalating its confrontation with the company’s management over alleged anti-labour practices. In a directive signed by the union’s General Secretary, Comrade Lumumba Ighotemu Okugbawa, branch chairmen in ...
As part of the state's ongoing investment drive in its various industrial clusters as well as to strengthen the state's digital Innovation hub, Ogun State Governor, Prince Dapo Abiodun, has visited China alongside his economic team, seeking expansion of the state's economy. A statement by Hon. Kayode Akinmade, Special Adviser to the Governor on Media ...
The Regional Working Group on Tax Policy Alternatives (RWOGTAPA) has underscored the need for policy alternatives to bolster more meaningful growth in tax regime. The group at a two-day regional meeting in Abuja, said that the meeting had become imperative as the tax systems in Ghana and Nigeria had some similar challenges. The meeting was ...
The Presidential Committee on Fiscal Policy and Tax Reforms says the new Capital Gains Tax (CGT) regime on shares is designed to reduce business risks, strengthen investor confidence, and create a fairer tax system. The Chairman of the committee, Mr Taiwo Oyedele, disclosed this during a virtual market engagement with the Nigerian Exchange Group (NGX) ...
Insolvency experts have called on banks and practitioners to align loan agreements and practices with the rescue provisions of the Companies and Allied Matters Act (CAMA) 2020. Mr Albert Folorunsho, the Vice President, Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), made the call at BRIPAN annual conference gala night on Friday in Lagos. ...
The Dangote Petroleum Refinery has suspended the sale of petrol in naira with effect from Sunday, September 28, 2025, raising fresh concerns over fuel pricing, forex stability, and industrial unrest. In a notice to customers at 6:42 pm on Friday, signed by the Group Commercial Operations of Dangote Petroleum Refinery & Petrochemicals, the company declared ...
By Olakunle Oke The Corporate Affairs Commission (CAC) has announced plans to deploy artificial intelligence (AI) to clear a backlog of more than 7,000 pending company registration applications. The move marks a major step in Nigeria’s drive to modernise its bureaucracy and improve service delivery. Nigeria’s decision mirrors a global trend, with governments increasingly turning ...
By Seun Ibiyemi The Independent Media and Policy Initiative (IMPI) has applauded the Central Bank of Nigeria’s (CBN) decision to reduce the Monetary Policy Rate (MPR) to 27 per cent, describing it as a bold step towards stimulating economic growth. On Wednesday, Dr. Omoniyi Akinsiju, the Chairman of IMPI, announced in a statement that the ...
By Sofiyyah Layole Experts have warned that the recurring flooding in Lagos state will persist unless the Lagos State Government strengthens drainage enforcement and curbs illegal construction across flood plains. This follows heavy downpours on Tuesday and Wednesday which plunged the city into chaos. Floods submerged major roads and neighbourhoods, leaving commuters stranded and businesses counting ...
By Olakunle Oke The Federal Government has launched a new artificial intelligence (AI) model tailored to Nigeria’s indigenous languages, in a bold step to promote cultural preservation and inclusion in the nation’s digital economy. The initiative, championed by the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, is designed to support more than ...
promises exceptional year-end dividend By Seun Ibiyemi Zenith Bank Plc’s Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, has assured shareholders of stronger value creation following the Bank’s impressive half-year 2025 results, which saw gross earnings rise 20 per cent year-on-year to N2.5 trillion. Commenting on the performance, Umeoji said the results underscore ...
Nigeria has moved to fortify its economic partnership with Saudi Arabia and the wider Gulf region, with the Honourable Minister of State for Finance, Dr Doris Uzoka-Anite, leading the Federal Government’s delegation to the Money20/20 Middle East Conference in Riyadh. This was contained in a statement on Friday signed by Mohammed Manga, Director of Information ...
Ogun State Governor, Prince Dapo Abiodun has revealed that the Olumo rock resort in Abeokuta is experiencing remarkable growth since the renovation of the facility. The Governor stated that the popular tourist site, which once generated a paltry N20 million yearly, is now bringing in that same amount on a weekly basis. Governor Abiodun pointed ...
Gov. Abdullahi Sule of Nasarawa has called on Small and Medium Enterprises (SMEs) in the State to embrace collaboration to enhance the growth of their businesses. Sule made the call on at a one-day Nasarawa Business Empowerment Summit on Thursday in Lafia. The event was organised by Mrs Kunkwle Nghargbu-Adokwe, Founder of NK Foundation, in ...
By Seun Ibiyemi The Federal Inland Revenue Service (FIRS) has ordered financial institutions and relevant stakeholders to deduct tax at source from interest payments on short-term securities. The new directive is in line with provisions of the Companies Income Tax Act (CITA) and the Withholding Tax Regulations, 2024. In a circular signed by its Executive ...
By Seun Ibiyemi A policy think-thank, Independent Media and Policy Initiative (IMPI) has predicted that Nigeria’s headline inflation will decline to 17 per cent by December. Recall that Nigeria's headline inflation rate eased for the fifth consecutive month, dropping to 20.12 per cent in August 2025 from 21.88 per cent recorded in July 2025 according to the ...
Artificial Intelligence (AI) has the potential to significantly boost trade in goods and services, the World Trade Organisation (WTO) has revealed. According to the WTO’s latest World Trade Report released in Geneva on Wednesday, the use of AI could increase global exports and imports by an additional 37 per cent by 2040. The World trade ...
By Seun Ibiyemi The Federal Inland Revenue Service (FIRS) has directed all financial institutions and relevant stakeholders to deduct tax at source from interest payments on short-term securities, in line with provisions of the Companies Income Tax Act (CITA) and the Withholding Tax Regulations, 2024. In a circular signed by its Executive Chairman, Zacch Adedeji, ...
