Economy
-
Nigeria halves crude oil losses in seven months, NUPRC reports
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a 50.2 percent decline in crude oil losses in the first seven months of 2025, marking a significant reduction for the country. According to the commission, the country lost 2.04 million barrels of crude oil between January and July, averaging 9,600 barrels per day—the lowest level since 2009. This is a…
Read More » -
Shettima orders speedy disbursement of ₦250bn credit to farmers
By Kunle Sanni – Vice President Kashim Shettima has directed the Presidential Food Systems Coordinating Unit (PFSCU) to fast-track the release of the Federal Government’s ₦250 billion credit facility for smallholder farmers at a single-digit interest rate. Shettima issued the directive on Thursday during the 6th meeting of the PFSCU Steering Committee at the Presidential Villa, Abuja, saying the unit…
Read More » -
FG tasks civil society to provide inputs on improving service delivery to Nigerians
The Federal Government has urged Civil Society Organisations to provide inputs and suggestions that can help improve service delivery to Nigerians. Minister of Budget and Economic Planning, Senator Abubakar Bagudu, made this call on Thursday in Abuja during the Citizens and Stakeholders Engagement Forum. Bagudu encouraged Civil Society to engage with the data supplied by the National Bureau of Statistics…
Read More » -
NASENI-PICTT launches DELTA-2 second call for proposals amid driving R&D in critical sectors
The National Agency for Science and Engineering Infrastructure (NASENI) and the Presidential Implementation Committee on Technology Transfer (PICTT) have launched the second phase of the DELTA-2 Programme-the 2nd Call for Proposals, which will focus on Commercialization of all R&D outcomes in different fields of the economy. The Delta-2 Project is a bilateral collaboration by the Federal Government of Nigeria through…
Read More » -
FCCPC recovers N10bn for Nigerians as Banks, FMCG recorded most customer complaints
The Federal Competition and Consumer Protection Commission (FCCPC) on Thursday disclosed that banking and Fast Moving Consumer Goods (FCMG) services accounted for the highest number of consumer complaints in Nigeria between March and August 2025, with more than N10 billion recovered for aggrieved customers within the same period. This was contained in an updated data on consumer complaints received and…
Read More » -
FG removes 5% telecom tax on calls, data
By Kunle Sanni – The Federal Government has abolished the 5% excise duty on telecommunications services in Nigeria, a move aimed at easing the cost burden on millions of subscribers. The National Orientation Agency (NOA) announced the development on Thursday in a post on X. The levy, which covered both voice calls and data, had been widely criticized by consumer…
Read More » -
DMO faults claim of spending N611.71bn on dollar-denominated bond
The Debt Management Office (DMO) has dismissed reports claiming that the federal government of Nigeria spent N611.71 billion in March 2025 servicing its first-ever U.S. dollar-denominated bond issued in the domestic capital market. In a statement, the DMO explained that the figure had been wrongly attributed, stressing that N611.71 billion represented the debt service for all outstanding federal government of…
Read More » -
Fuel subsidy savings insufficient to transform Nigeria – Oyedele
…says sub-$50bn federal budget can’t cater for 200m-person economy By Kunle Sanni – Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has warned that Nigeria’s current resources are insufficient to transform an economy serving more than 200 million citizens. Speaking at a one-day capacity-building training on the Nigeria Tax Act (2025) for members of the…
Read More » -
Nigeria opens doors to energy investors, says NNPC chief at Gastech 2025
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Engr. Bashir Bayo Ojulari, has called on international investors to explore Nigeria’s abundant energy sector opportunities. Ojulari made the appeal during the Energy Talk segment of the 2025 Gastech Exhibition & Conference in Milan, Italy, in an interview with NBC’s Hala Gorani. He commended President Bola…
Read More » -
5% fuel surcharge: FG has no intention to introduce fresh levy, says Wale Edun
Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun has stated that the Federal Government has no plan to introduce a fresh levy but rather to harmonise existing tax provisions within a modernised legal framework. He reassured Nigerians of its unwavering commitment to macroeconomic stability, private sector-led growth, and transparent fiscal management while also clarifying recent concerns…
Read More »
Follow our WhatsApp Channel