Economy
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Ahead of proposed IPO, Femi Otedola plans $100m investment in Dangote refinery
..Refinery eyes $2bn investments from private investors, says Dangote As the proposed initial public offering (IPO) gets close on the Nigerian Exchange Limited, Chairman of First HoldCo, Femi Otedola has revealed he will invest $100 million in Dangote refinery. He announced his plans on Wednesday after leading top executives of First HoldCo to visit President of the Dangote Group, Aliko…
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The significance of Tinubu’s Nairobi and Kigali investment-driven trip, Kola Amzat
Since President Tinubu inauguration into office in 2023, he has never left any one in doubt of his intention to launch the country into the midst of industrial nations across the globe and this he’s been pursuing by deploying every available resource to bring in the best of foreign investments to Nigeria. In realization of this objective, the president has…
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FG launches Net-Zero Investment Plan, reaffirms commitment to climate action
The Federal Government has launched Nigeria’s Net-Zero Investment Plan (NZIP) and reaffirmed its commitment to climate action and environmental protection, with a target of achieving net-zero greenhouse gas emissions by 2060 while promoting sustainable economic growth. The plan was launched in Abuja on Wednesday by the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, in the presence of the…
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Tax ombud a key reform initiative of Tinubu administration – information minister
The Minister of Information and National Orientation, Mohammed Idris, has described the Office of the Tax Ombud as a major institutional reform introduced by President Bola Ahmed Tinubu to promote fairness, transparency, and accountability in Nigeria’s tax administration system. Idris made the remarks on Tuesday during a courtesy visit by the leadership of the Office of the Tax Ombud and…
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NLNG commends Olukoyede’s efforts in fight against financial crimes
The Managing Director and Chief Executive Officer of Nigeria Liquefied Natural Gas Limited (NLNG), Leye Falade, has commended the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, for what he described as significant achievements in the fight against corruption, economic sabotage and financial crimes in Nigeria. Falade gave the commendation on Tuesday during a courtesy visit…
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NRS targets N40trn revenue, identifies leakages in VAT remittance by states, agencies
The Nigeria Revenue Service (NRS) has maintained that the revenue target for 2026 is N40 trillion, identifying significant leakages in the deduction and remittance of value-added tax (VAT) and withholding tax by some states and government agencies. The Executive director of large taxpayer and government directorate at the NRS, Amina Ado spoke on Tuesday at a national workshop on strengthening…
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Dangote refinery cuts aviation fuel price by 5.7%
Dangote Petroleum Refinery & Petrochemicals has announced a reduction in the price of aviation fuel, also known as jet A1, by 5.7 per cent to N1,650 per litre from N1,750 per litre. In a statement on Tuesday, the refinery said the move is aimed at easing cost pressures on airlines and ensuring an uninterrupted petrol supply across the country. The…
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Refinery listing will democratise Africa’s industrial prosperity, says Dangote
President/Chief Executive, Dangote Group, Aliko Dangote, has said the planned listing of the Dangote Petroleum Refinery & Petrochemicals on the Nigerian Exchange is designed to democratise wealth creation and give Africans direct access to participate in the continent’s industrial transformation. Dangote spoke during the visit of the leadership of South Africa’s Government Employees Pension Fund (GEPF), alongside the Public Investment…
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T+1 settlement cycle takes off June 1, says SEC
In furtherance to its mandate to promote an efficient, fair, and transparent capital market, the Securities and Exchange Commission (SEC) has announced the transition to a T+1 settlement cycle for equities and commodities transactions with effect from Monday June 1, 2926. This notice published by the SEC on May 18, 2026, outlines a comprehensive framework that all capital market operators…
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