President Bola Tinubu on Thursday signed into law four tax reform bills on key areas of Nigeria’s fiscal and revenue framework. The bills passed by the National Assembly were signed during a ceremony held at the Aso Rock Presidential Villa, Abuja. The government has announced that the implementation of the new tax laws will commence…
President Bola Tinubu has on Thursday signed the four tax reform bills recently passed by the National Assembly into law. Tinubu gave the presidential assent to the bills during a short ceremony at the Presidential Villa, attended by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President. The…
The Nigeria Export Processing Zones Authority, the Federal Government’s One-Stop-Shop Committee on Crude Sales in Naira, and the Dangote Refinery and Petrochemicals Free Zone Enterprise have agreed to fast-track the implementation of a presidential directive aimed at achieving full energy security through the naira-denominated sale of crude to local refineries. The strategic alliance, forged on…
The Nigerian National Petroleum Company (NNPC) Limited on Monday increased prices of fuel from N910 to N945 in Abuja and from N870 to N915 in Lagos. The new pump price increase reflects a N35 and N45 hike in the amount previously sold in Abuja and Lagos respectively. It was observed that some fuel stations in…
Nigerians may soon pay more for petrol as the Dangote Petroleum Refinery on Friday increased its ex-depot price for Premium Motor Spirit to N880 per litre, raising fresh concerns over fuel affordability and price volatility in the downstream sector. Checks on petroleumprice.ng, a platform tracking daily product prices, and a Pro Forma Invoice seen by…
The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, Festus Osifo, has claimed that the recurring shutdowns of Nigeria’s state-owned refineries are driven more by political motives than operational challenges. PENGASSAN also accused petroleum marketers of exploiting Nigerians through inflated petrol prices, insisting that the current pump price of Premium Motor…
Nigeria’s inflation rate dropped to 22.97 per cent in May 2025, the National Bureau of Statistics has said. The figure represents a decline of 0.74 percentage points when compared to the 23.71 per cent recorded in April 2025. On a year-on-year basis, headline inflation fell by 10.98 percentage points from 33.95 per cent recorded in…
The Dangote Petroleum Refinery has announced plans to begin nationwide distribution of Premium Motor Spirit and diesel from August 15, 2025. The company is deploying 4,000 brand-new Compressed Natural Gas-powered tankers to boost delivery capacity and improve access to fuel across the country. The offer, according to a statement released on Sunday, is open to…
In the first quarter of 2025 (Q1 2025), Nigeria recorded N5.172 trillion surplus trade, according to the National Bureau of Statistics (NBS). NBS in its “Foreign Trade in Goods Statistics Q12025,” revealed that the country’s import dipped to N15.426 trillion as export rose to N20.59trillion, totally N36.02trillion trade in the period under review. The report…
The federal government is expected to forfeit $10 million from a World Bank credit due to audit shortcomings, delays in launching a national budget portal, and slow implementation of a revenue assurance system. The fund is part of the $103 million fiscal governance and institutions project (FGIP), a public financial management initiative financed through a…