Economy
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Why we established ₦200bn intervention fund for MSMEs, manufacturers — Tinubu
By Kunle Sanni – President Bola Tinubu has said his administration established a ₦200 billion intervention fund to support micro, small, and medium enterprises (MSMEs) and manufacturers in order to enhance competitiveness and address structural challenges facing the sector. Declaring open the 31st Nigerian Economic Summit in Abuja on Monday, President Tinubu—represented by Vice President Kashim Shettima—said the fund is…
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Nigeria is bigger than PENGASSAN – Shettima cautions union over dispute with Dangote
Vice President Kashim Shettima has cautioned the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over its ongoing dispute with the Dangote Refinery, urging the union to prioritize national interest above individual or organizational concerns. Speaking at the opening session of the 31st Nigerian Economic Summit in Abuja on Monday, the Vice President emphasized the need for restraint,…
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FG remains committed to policies that will unlock Nigeria’s full economic potential, says Bagudu
Minister Of Budget And Economic Planning, Sen. Abubakar Bagudu on Monday stated that the Federal Government under President Bola Tinubu remains committed to policies that will unlock the country full economic potential, stressing that the National Development Plan (NDP) 2021-2025 made the private sector the key driver of the economy by allocating an investment size of 86 per cent of…
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NNPC clarifies reasons behind recent LPG price hike to N2,000/kg
…blames PENGASSAN By Kunle Sanni – The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Olufemi Ojulari, has explained that the recent increase in the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, was largely artificial and temporary. Speaking with journalists on Sunday night after briefing President Bola Tinubu on the…
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NNPCL records 1.68m barrels per day in September, highest in 5 years, says Ojulari
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) Mr. Bashir Ojulari, has disclosed that the company made a significant progress in oil and gas output, recording about 1.68 million barrels per day in September, which is the highest in five years. He also revealed that NNPCL recorded over seven billion cubic feet of gas production…
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Alake calls for new vision to industrialize Africa’s mineral resources
The Minister of Solid Minerals Development and Chairman of the African Minerals Strategy Group (AMSG), Dr. Dele Alake, has called for a new vision to transform Africa from a raw minerals supplier into a global hub for mineral processing, innovation, and green industrialization. Speaking at the African Mining Week in Cape Town, South Africa, themed “Vision & Strategy – Setting…
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PIA: NUPRC approves 79 field development plans worth $39.89bn in 2 years
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Sunday disclosed that it has approved 79 Field Development Plans (FDP) (41 in 2024 and 38 Year-till-Date (YTD) in 2025 with a potential investment worth $39.98billion. This comprises of $20.55billion in 2024 and $19.43billion in YTD 2025. The Commission, in a statement signed by its Head of Media and Strategic Communication, Eniola…
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Dangote Refinery lauds Tinubu, others for averting PENGASSAN disruption
Dangote Petroleum Refinery has expressed profound appreciation to President Bola Ahmed Tinubu for his timely intervention in averting what it described as “the disruptive actions of PENGASSAN” against the company. The company in a statement said the President’s leadership, through his ministers and senior government officials, ensured the restoration of order and stability to the energy sector at a critical…
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Naira gains 3.46% to close at N1,478.00/$ in September 2025
Amid Central Bank of Nigeria (CBN) intensive policies at the foreign exchange market, the Naira at the official rate in September 2025 appreciated by 3.46 per cent to close at N1,478.00 against the dollar It closed Augusut 2025 at N1,531.00 against the dollar. According to the daily Nigerian Foreign Exchange Market (NFEM) rates of the CBN, the local currency has…
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New tax laws not targeted at informal sector workers, says Oyedele
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has clarified that Nigeria’s new tax laws are not aimed at burdening informal sector workers, most of whom lack the capacity to pay taxes. Speaking on Friday during an interactive session with journalists, influencers, and analysts on the recently introduced tax reforms, Oyedele said over 90 percent of…
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