Nigeria’s petroleum sector was thrown into shock on Wednesday following the resignation of the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority(NMDPRA), Farouk Ahmed, and his counterpart at the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, amid…
Nigeria’s Crude Exports Hit ₦37.7 Trillion in 9 Months: Oil Stays King Amid Reform Nigeria’s crude oil exports reached a massive ₦37.7 trillion in the first nine months of 2025, according to the latest Q3 Foreign Trade in Goods Statistics…
Microsoft & FG: 4 Million Nigerians Trained in AI and Tech Skills Over Five Years Microsoft has announced that its strategic partnership with the Nigerian Federal Government has successfully equipped over four million Nigerians with essential digital skills since 2021.…
Fidelity Bank Plc has officially announced that, effective January 1, 2026, accounts not linked to a Tax ID Number (TIN) or National Identity Number (NIN) will face restrictions on transactions. The action complies with the Nigerian Tax Administration Act (NTAA)…
The Central Bank of Nigeria (CBN) has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc over violations of banking regulations. The CBN said in a statement on Tuesday that the measure…
In a milestone for Nigeria’s maritime sector, Lekki Deep Seaport has surged ahead to become the country’s second busiest port by trade volume, eclipsing Tin Can Island Port and reshaping the nation’s trade dynamics. The achievement marks a major shift…
Nigeria’s headline inflation rate has reportedly dropped to 14.45 percent in November 2025, according to the National Bureau of Statistics (NBS). The NBS revealed the decline in its consumer price index (CPI) report on Monday, which is the ninth consecutive…
Petrol Price War: Dangote Vows to Enforce ₦739/Litre Cap, Accuses Regulator of Sabotage The President and Chief Executive Officer of the Dangote Group, Aliko Dangote, has made a decisive move in Nigeria’s fuel market, declaring that the price of Premium…
MRS and other partners of the Dangote Petroleum Refinery are reportedly scheduled to start selling petrol at N739 per litre, barring any last-minute changes. The refinery cut the price of its fuel gantry from N828 to N699 per litre two…
FG’s N4 Trillion Power Bonds: Risky Debt-for-Debt Strategy Sparks Fiscal Concerns The Federal Government’s plan to issue up to N4 trillion in government-backed bonds to settle crippling legacy debts owed to Electricity Generation Companies (Gencos) and gas suppliers has been…
Alhaji Aliko Dangote, the president of the Dangote Group, claimed on Sunday that Farouk Ahmed, the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, paid roughly $5 million for his four children’s secondary school education in Switzerland.…
The Central Bank of Nigeria (CBN) has directed all PoS Terminal providers, acquirers, processors, and payment terminal service providers (PTSPs) to implement mandatory dual connectivity with the Nigeria Inter-Bank Settlement System (NIBSS) and Unified Payment Services Limited (UPSL) for point…
The Federal Competition and Consumer Protection Commission (FCCPC) has announced an enlarged probe into the alleged arbitrary increase in airfare by the majority of Nigerian airlines in response to the recent national outcry. According to the reports, several domestic airlines,…
The federal government has announced that all taxable Nigerians will be required to obtain a Tax Identification Number (TIN) in order to operate bank accounts in the country, ahead of the new tax reforms taking effect on January 1, 2026.…
Immediate Action Required: CAC Mandates New Information for All Business Name Updates Table of Contents The New Mandate: Required Information for Updates Why the CAC is Demanding More Data List of Mandatory Details The “Why”: Enhancing Integrity and Combating Fraud…
