Economy
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Tinubu inherited energy sector under severe strain, Presidency says
The Presidency has said Nigeria’s energy sector was in a state of severe distress when President Bola Tinubu assumed office in 2023, citing unsustainable fuel subsidies, foreign exchange distortions, low production levels and mounting power-sector debts as key challenges inherited by the administration. Speaking at the Nigerian-British Chamber of Commerce Energy Day 2026 on Thursday, the Special Adviser to the…
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Airtel Africa, other telcos invest over N2.3trn in network expansion in 2025, says ALTON
The Association of Licensed Telecom Operators of Nigeria (ALTON) revealed that telecom operators in the country invested more than N2.3 trillion in network expansion in 2025 and are planning another N1.8 trillion investment in 2026. Chairman of ALTON, Gbenga Adebayo on ARISE News on Thursday said the investments are part of efforts by operators to improve connectivity and service quality…
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Dangote refinery will restore Nigeria’s glory, says Oluwo
By Deborah Oladejo, Osogbo – The Oluwo of Iwoland, Oba Abdulrosheed Adewale Akanbi, has expressed optimism that the Dangote Refinery will restore Nigeria’s glory as the giant of Africa and place the country among the world’s most admired nations. The monarch, in a statement by his press secretary, Alli Ibraheem, commended the President of Dangote Group, Alhaji Aliko Dangote, saying…
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FG, Enugu move to launch direct cargo flights to China by December
The Federal Government and the Enugu State Government are working to commence direct cargo flight operations between Enugu and Guangzhou, China, before the end of 2026, Minister of Aviation and Aerospace Development, Festus Keyamo, has disclosed. Keyamo made this known in Lagos on Thursday during the launch of newly acquired aircraft by United Air, describing the initiative as part of…
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NITDA expands digital access with Benue community IT centre
The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has described the newly inaugurated NITDA Community IT Centre in Benue State as a catalyst for transformation that will empower residents with digital skills and enable them to participate meaningfully in the digital economy. Inuwa made the remark during the commissioning of the Community IT Centre in…
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FG issues transition guidelines for Tax Acts 2025
The federal government has issued the general guidelines for the implementation of the Tax Acts 2025, establishing a formal framework for managing the country’s transition from its repealed tax laws to a new tax regime that takes effect from January 1, 2026. The guidelines, released by the Federal Ministry of Finance on Thursday, are addressed to taxpayers, tax practitioners, revenue…
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Nigeria’s Elohor Aiboni emerges first female to head Shell’s country operations
Shell has appointed former Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), Elohor Aiboni, as its new executive vice president and country chair for Nigeria, making her the first Nigerian and the first woman to hold the combined leadership position. Her appointment takes effect on August 1, 2026, as she succeeds Marno de Jong, who is leaving…
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Naira remains undervalued by 25.6%, says IMF
The International Monetary Fund (IMF) has said the naira remains undervalued by 25.6 per cent despite recovering some ground against the US dollar following Nigeria’s foreign exchange (FX) reforms. An undervalued currency means the exchange rate is weaker than what economic fundamentals would ordinarily support. In its latest Article IV consultation report on Nigeria, the Washington-based institution said its Real…
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FG launches free TV platform, projects jobs, economic growth
The Federal Government has launched Nigeria’s Digital Switch Over (DSO) platform, describing it as a major step towards modernising the country’s broadcasting industry and unlocking opportunities for job creation, local content development, and economic growth. Speaking at the launch held on Wednesday at the headquarters of the Nigerian Communications Satellite Limited (NIGCOMSAT) in Abuja, the Minister of Information and National…
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Nigeria’s gas production increases to 7.93bcf/d in May 2026, says NUPRC
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that Nigeria’s average daily natural gas production rose to 7.93 billion standard cubic feet per day (bcf/d) in May 2026. This is about 0.63per cent year-on-year increase from the 7.88bcf/d recorded in the corresponding period of 2025. The latest figures highlight the country’s steady progress in expanding gas production and utilisation as…
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