PENGASSAN Faults Tinubu’s Executive Order
By Chinedu Echianu The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has criticized President Bola Tinubu’s executive Order No. 9 saying parts of the order could undermine stability in Nigeria’s oil and gas industry and threaten jobs. President Tinubu’s order, which reportedly redirects 30 per cent of profit oil previously retained by […]
CBN Cuts Interest Rate to 26.50%
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points, bringing it down to 26.50 percent from 27 percent. The decision was announced on Tuesday during the 304th Monetary Policy Committee (MPC) meeting held in Abuja. CBN Governor Olayemi Cardoso said the committee reached the […]
₦1.5 Trillion Lost: FG Moves to Curb Ponzi Scheme Epidemic
By Al- Kadriyar Abdullahi With Nigerians losing about ₦1.5 trillion in one year to fraudulent investment schemes, the Federal Government has stepped up efforts to curb the spread of Ponzi operations by strengthening public awareness and investor education nationwide. In response, the National Orientation Agency (NOA) and the Securities and Exchange Commission (SEC) have inaugurated […]
NADDC Seeks Legislation for Automotive Industry to Attract Investors
By Oluwakemi Kindness The Director-General of the National Automotive Design and Development Council (NADDC), Joseph Osanipin, says the Federal Government is taking steps to convert the National Automotive Industry Development Plan from a policy framework into legislation to provide legal certainty and attract long-term investment into Nigeria’s automotive sector. Osanipin disclosed this on Monday during […]
NOA Attributes Rising Investor Interest to Nigeria’s Improved Global Image
By Al-Kadriyar Abdullahi The Director-General of the National Orientation Agency (NOA), Lanre Issa-Onilu, has attributed the recent increase in foreign investor interest to Nigeria’s enhanced international image and perception. Speaking to journalists, Issa-Onilu highlighted growing confidence among foreign investors, international financial institutions such as the International Monetary Fund (IMF) and World Bank, and world leaders as […]
Nigeria Exempts Land, Buildings and Rent from VAT
By Sofiat Adenekan -Abdul The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, says land, buildings and rent are now fully exempt from Value Added Tax (VAT) under the Nigeria Tax Act 2025. Oyedele said the law, which has already taken effect, is aimed at reducing housing costs, encouraging real estate […]
NLC Criticizes Power Sector Failures, Demands New Electricity Road Map
By Chinedu Echianu The Nigeria Labour Congress (NLC) has criticised the state of Nigeria’s electricity sector, describing more than a decade of privatisation as a failure that has worsened energy access for citizens and businesses and demanded a new road map for the sector. In a statement issued on Sunday by its President Joe Ajaero, […]
Reps to Probe Non-release of N174.26bn in Agric
By Oluwakemi Kindness The House of Representatives is set to investigate the non-release of N174.26 billion in agricultural intervention funds, amid warnings that the delay is aggravating Nigeria’s food security challenges. This is despite the federal government’s ongoing state of emergency on food security. Chairman of the House Committee on Agricultural Production and Services, Bello […]
NSDC, NEXIM Bank Seal Sugar Financing Deal
By Oluwakemi Kindness The National Sugar Development Council (NSDC) has partnered with NEXIM Bank to secure long-term financing to scale Nigeria’s sugar production and cut reliance on imports. The move according to a statement on Thursday is aimed at closing the major funding gap that has slowed the development of large-scale sugar projects across the […]
Reps to Stop 2026 Budgets for 22 MDAs Over Lapses
By Oluwakemi Kindness The House of Representatives Public Accounts Committee (PAC) has moved to stop 2026 budgetary allocations to 22 federal Ministries, Departments and Agencies (MDAs) for repeatedly failing to account for public funds and ignoring legislative oversight. The affected agencies include the Nigerian Meteorological Agency (NiMet), Federal Housing Authority (FHA), Standards Organisation of Nigeria […]