Abuja, Nigeria — The Federal Government of Nigeria has called on China to ease trade restrictions and strengthen economic collaboration to drive industrialization and diversification. This appeal was made by Ambassador Bianca Odumegwu-Ojukwu, Minister of State for Foreign Affairs, during a meeting with the Chinese Ambassador to Nigeria, Yu Dunhai, in Abuja. Highlighting over five…
Abuja, Nigeria — The House of Representatives Committee on Public Accounts has opened an investigation into outstanding debts owed to the Federation Account by the Nigerian National Petroleum Company Limited (NNPCL) and several oil firms. The probe was initiated following concerns raised by the Office of the Auditor General for the Federation, highlighting unresolved financial…
Kano, Nigeria — The Singer Market Development Association (SIMDA) has appealed to the Federal Government to provide enhanced support for farmers, particularly through the provision of improved seeds, to strengthen food security in Nigeria. The appeal was made by SIMDA Chairman, Junaidu Zakari Mohammed, during a media briefing in Kano, where he emphasized the critical…
Abuja, Nigeria — The Nigerian National Petroleum Company (NNPC) Ltd dismisses allegations in a viral video questioning the quality of its fuel. In a statement issued today by NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, the company described the claims as baseless, emphasizing that its fuel is produced to meet the highest industry standards. Soneye…
Lagos, Nigeria — MTN Nigeria has significantly raised its Pulse call bundle rates, following regulatory approval for industry-wide tariff adjustments. The telecom giant announced the increase in a message to Pulse subscribers, confirming a sharp rise in call charges from N7.8 per minute (13 kobo per second) to N13.8 per minute (23 kobo per second)…
Abuja, Nigeria — The Federal Government, in collaboration with the UK Foreign, Commonwealth and Development Office (FCDO), is intensifying efforts to enhance rice production through the System of Rice Intensification (SRI), aiming to increase yields, cut greenhouse gas emissions, and boost smallholder farmer incomes. Key agricultural stakeholders gathered at a Propcom+ knowledge-sharing event to assess…
Abuja, Nigeria — The Nigeria Extractive Industries Transparency Initiative (NEITI) and the Tertiary Education Trust Fund (TETFund) have reinforced their commitment to improving tax compliance, transparency, and data accessibility to enhance funding for Nigeria’s education sector. During a courtesy visit by TETFund’s management to NEITI House in Abuja, Executive Secretaries Dr. Orji Ogbonnaya Orji (NEITI)…
Kano, Nigeria — The Kano/Jigawa Area Command of the Nigeria Customs Service (NCS) has engaged stakeholders in discussions regarding the implementation of the 4% Free On Board (FOB) levy. The dialogue, led by Area Comptroller Dalhatu Abubakar, focused on the levy’s reintroduction following its temporary suspension due to the termination of the NCS contract with…
Abuja, Nigeria — The Nigeria Labour Congress (NLC) has called for an immediate reversal of the recent 50% increase in telecommunication tariffs, warning of a potential nationwide shutdown if their demand is not met. In a communiqué issued after its Central Working Committee meeting in Lokoja on Tuesday, the NLC, through its President Joe Ajaero…
Abuja, Nigeria—The Senate Committee on the Capital Market has urged the Minister of Finance, Mr. Wale Edun, to approve a special allocation of N10 billion to enhance literacy and investor confidence in Nigeria’s capital market. The appeal was made during an[ez-toc] interactive session with the Minister of Finance and the Director-General of the Securities and…
Lagos, Nigeria — Dangote Petroleum Refinery & Petrochemicals has further reduced the price of diesel, lowering it from ₦1,075 to ₦1,020 per litre in a move aimed at easing costs for businesses and consumers. Since commencing diesel production in January 2024, the refinery has consistently lowered prices, bringing them down from an initial ₦1,700 per…
Abuja, Nigeria — The Central Bank of Nigeria (CBN) has scrapped the three free monthly interbank ATM withdrawals, introducing new charges for customers using other banks’ ATMs. This policy shift, set to take effect from March 1, 2025, was outlined in a circular issued by the CBN on February 10, 2025, and directed to all…
Cape Town, South Africa — Nigeria and Venezuela have announced plans to collaborate on investment opportunities in the mining sector, reinforcing their commitment to economic diversification and sustainable resource development. The agreement was reached following high-level discussions between a Venezuelan delegation led by Deputy Minister of Mining, Alejandro Martinez, and Nigeria’s Minister of Solid Minerals…
Bori, Rivers State — A crucial meeting aimed at discussing the potential resumption of oil exploration in Ogoniland ended in disarray on Saturday, sparking tension and frustration among attendees. The gathering, held at the Peace and Freedom Centre in Bori, Khana Local Government Area, was organized following President Bola Tinubu’s directive for Ogoni leaders to…
Lagos, Nigeria — Dangote Petroleum Refinery has reached a major milestone, successfully exporting two cargoes of jet fuel to Saudi Aramco, the world’s largest oil producer and a leading global oil and gas entity. Saudi Aramco, the official national oil company of Saudi Arabia, is a state-owned corporation and a dominant force in the petroleum…
Ado-Ekiti, Nigeria — The Federal Government has unveiled plans to set up a Pilot Soil Assessment Laboratory in Ekiti State to enhance agricultural productivity and support farmers. This was disclosed by the Ekiti State Commissioner for Agriculture and Food Security, Mr. Ebenezer Boluwade, in a statement issued in Ado-Ekiti. He noted that the facility would…
Abuja, Nigeria — The naira continued its upward trend in the parallel market as the Central Bank of Nigeria (CBN) extended foreign exchange sales to Bureau de Change (BDC) operators. From closing at N1,620 per dollar last week, the naira appreciated to N1,610/$ on Monday. The CBN had earlier set January 31, 2025, as the…
The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) against enabling the illegal sale of mint naira notes to currency hawkers, imposing a penalty of N150 million for each offending branch involved in such activities. In a circular issued by Solaja Mohammed J. Olayemi, Acting Director of Currency Operations, on December 13,…
Dangote Refinery, Africa’s largest oil refinery, has achieved a historic milestone by exporting its first batch of Premium Motor Spirit (PMS) to Cameroon, in partnership with Neptune Oil. This marks the refinery’s inaugural international shipment and a significant step toward regional energy integration. The collaboration reflects a shared commitment to fostering economic ties between Nigeria…
Civil servants in Nasarawa State have embarked on an indefinite strike following the state government’s failure to implement the N70,000 national minimum wage recently signed into law by the federal government. Led by organized labour unions, workers shut down ministries, departments, and agencies (MDAs) across the state to press their demands. Chanting solidarity songs, union…
The Lekki Textile and Garment Special Economic Zone (SEZ) in Lagos State is projected to generate approximately 5,000 direct jobs and over 20,000 indirect employment opportunities upon completion, according to Dr. Olufemi Ogunyemi, Managing Director of the Nigeria Export Processing Zones Authority (NEPZA). Dr. Ogunyemi made this known during the disbursement of compensation to seven…
The Bauchi State government, in collaboration with the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), has inaugurated an 11-member tripartite technical committee to finalize the implementation of the national minimum wage for civil servants in the state. Speaking to reporters after the State Executive Council meeting, NLC Chairman Comrade Dauda Shu’aibu announced…
The Federal Government has launched a new initiative to sell crude oil to local refineries and facilitate the purchase of petroleum products using the Naira, aiming to ease pressure on the national currency and streamline costs. This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, following a…
Kano State Governor Abba Kabir Yusuf has announced that the state will be the first to implement the new minimum wage of N70,000. The governor made this statement during a workshop on “Conflict Management for Harmonious Industrial Labour Relations” hosted by the Michael Imoudu National Institute for Labour Studies (MINILS) in Kaduna. Represented by Abdullahi…
The Federal Government has put forward a proposal to temporarily eliminate import duties on certain food items, a move aimed at addressing the nation’s food security challenges. This announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, following a closed-door session with the Nigeria Customs Service Board…
A three-day multi-sector trade and investment forum aimed at strengthening the economic and business ties between Nigeria and Tunisia was held at the John Wood Hotel, Abuja. The event, which began on September 10, was organized through the collaboration of the Tunisia-Africa Business Council (TABC), the Nigerian Embassy in Tunis, and the Tunisian Embassy in…
President Bola Tinubu has wrapped up his official visit to China, calling the trip a significant success. Addressing members of the Nigerians in Diaspora Organisation (NIDO) and the wider Nigerian community at the China World Hotel, President Tinubu highlighted the fruitful discussions held with Chinese leaders, including President Xi Jinping and Premier Li Qiang, as…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the Dangote Refinery in Lagos, valued at $20 billion, will begin supplying 25 million litres of fuel daily to the Nigerian market this September. According to the NMDPRA, the refinery, which has a capacity of 650,000 barrels per day, is expected to increase…
The Ogun State Waste Management Authority has sealed off two Chinese-owned companies, Yibao Industrial Limited and Ronchang Industrial Park, for allegedly breaching the state’s environmental regulations. The enforcement action was taken after multiple warnings to the companies were ignored, with both firms failing to hire accredited waste management collectors to properly handle their waste disposal….
Governor Ademola Adeleke of Osun State has unveiled 31 newly acquired tractors and various farm inputs, in a move to boost agricultural productivity and food security across the state. The unveiling ceremony took place at the Agric Farm Settlement in Aisu, Ede, where Governor Adeleke emphasized the critical importance of food sufficiency and availability as…
The newly opened Tsamiya Dry Port in Kebbi State has established a clearing office in Kano to enhance trade for businesspeople in Northern Nigeria. During the inauguration of the Kano office on Wednesday, the Comptroller General of the Nigeria Customs Service (NCS), Bashir Adeniyi, represented by the Zone B Comptroller, ACG Sambo Dangaladima, highlighted the…
