The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that President Bola Tinubu’s renewed hope competitive reform agenda has delivered 28 Field Development Plans (FDPs) with 18.2 billion dollars worth of investment commitments in the Nigerian oil sector The Commission Chief Executive, Mr Gbenga Komolafe disclosed this on Tuesday at the Africa Oil Week, held…
The Federal Government has suspended the 4% Free on Board (FOB) charge recently imposed on imported goods by the Nigeria Customs Service. The directive, which takes effect immediately, was communicated on Monday via a letter signed by Permanent Secretary, Special Duties, R. O. Omachi, Federal Ministry of Finance. The move follows consultations with industry stakeholders,…
Nigeria’s headline inflation slowed for the fifth consecutive month in August 2025, providing some respite for consumers grappling with high living costs. Data released by the National Bureau of Statistics on Monday showed that inflation dropped to 20.12 per cent, down from 21.88 per cent in July. The figure represents a 1.76 percentage point decline…
Dangote Refinery’s newly acquired Compressed Natural Gas (CNG) trucks, on Monday, began loading petroleum products at the facility for direct supply to filling stations nationwide. Our correspondent at the launch of the first batch of the trucks reported that the trucks have begun taking turns at the gantry to load products. The Refinery announced in…
The University of Nigeria, Nsukka (UNN) has condemned the tragic killing of a guest, Mr. Chiebonam Nweze, during a students’ social event on its campus last Friday. The incident occurred on September 12, 2025, at a bonfire night organised by the Department of Archaeology and Heritage Studies. According to the university management, the event was…
Nigeria recorded an upswing in its external trade position in the second quarter of 2025, as the country’s trade surplus widened by 44.3% to N7.46 trillion, up from N5.17 trillion in the previous quarter. This is according to the latest Foreign Trade in Goods Statistics report by the National Bureau of Statistics (NBS). The report…
The Oyo State government has showcased its investment potential at the ongoing Intra-African Trade Fair (IATF 2025) in Algiers, Algeria, joining other Nigerian states in projecting the nation’s economic strengths at the continental level. The Commissioner for Investment, Trade, Cooperatives, and Industry, Hon. Adeniyi Adebisi, who led the Oyo State delegation to the trade fair,…
The Federal Government has officially gazetted Nigeria’s new tax reform laws following President Bola Tinubu’s assent to the legislations on June 26, 2025. A statement signed by the Personal Assistant on Special Duties to the President, Kamorudeen Yusuf, on Wednesday, confirmed the publication of the four legislations: the Nigeria Tax Act 2025, Nigeria Tax Administration…
Contrary to the speculation that the five per cent fuel tax recently muted by the Federal Government will take effect from 1 January 2026, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has stated there are no indications that this will happen. Oyedele, speaking on Channels Television’s The Morning…
The naira appreciated strongly on Monday at both the official and parallel foreign exchange markets, opening the new week on a positive note. Data from the Central Bank of Nigeria showed that the naira gained significantly, closing at N1,506.84 per dollar on Monday, compared to N1,514.87 on Friday. This indicates that the currency strengthened by…