Economy
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FAAC: FG, states , LGAs share N2.04trn in March 2026
The Federation Account Allocation Committee (FAAC) has shared N2.036 trillion among the Federal Government, states and local government councils for March 2026. The revenue was distributed at the April FAAC meeting held in Abuja. The allocation reflects monthly earnings from statutory sources, VAT and augmentation funds shared across the three tiers of government. FAAC’s communiqué showed that total distributable revenue…
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BREAKING: Jet A1 fuel crisis: Tinubu approves debt waiver, cuts charges for airline operators
President Bola Tinubu has announced plans to grant waivers on debts owed by domestic airlines to aviation agencies and to review the structure of levies, taxes, and charges on domestic air tickets, as part of efforts to ease the impact of the ongoing Jet A1 fuel crisis on the aviation sector. The development was disclosed on Wednesday by the Minister…
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British Airways at 90: Tinubu reaffirms stronger Nigeria–UK aviation, economic partnership
President Bola Tinubu has reaffirmed Nigeria’s commitment to strengthening aviation and economic relations with the United Kingdom as British Airways marks 90 years of operations in Nigeria. According to a statement by Bayo Onanuga, spokesperson to the President, Tinubu made the remarks on Wednesday while receiving a British Airways delegation at the Presidential Villa in Abuja. “It is a very…
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Bagudu calls for stronger West African collaboration on social security reforms
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has called for stronger regional collaboration and improved communication strategies to enhance social security systems across West Africa. Bagudu made the call on Wednesday while speaking as Special Guest at the 2026 International Social Security Association (ISSA) West Africa Technical Seminar, held in Nigeria and organised by the Nigeria Social Insurance…
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BPP, NUPRC partner to deepen procurement reforms in upstream petroleum sector
The Bureau of Public Procurement (BPP) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have begun a strategic partnership aimed at strengthening procurement standards and promoting value-driven operations in Nigeria’s upstream petroleum sector. Director-General of the BPP, Dr. Adebowale A. Adedokun, made this known during a high-level strategic engagement and capacity-building session with the management of the NUPRC in Abuja.…
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Ex-minister Edun reflects on service under Tinubu, highlights economic gains
Former Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has expressed appreciation to President Bola Ahmed Tinubu for the opportunity to serve in various capacities since the inception of the administration in May 2023. In a statement issued on Tuesday, Edun said it was an honour to contribute to the implementation of the administration’s economic agenda, noting…
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Nigeria’s markets gain credibility as exit route for investors, says Popoola
Nigeria’s capital markets are beginning to establish credibility as a viable exit route for institutional investors, the Group Managing Director and Chief Executive Officer of Nigerian Exchange Group, Temi Popoola said, citing recent transactions and structural reforms aimed at improving market function. “The true test of any market is not entry, but exit,” said Popoola, during a presentation to investors…
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BREAKING: Tinubu relieves Edun, Dangiwa of appointments, elevates Oyedele as finance minister
President Bola Tinubu has approved a minor cabinet reshuffle, relieving Mr. Wale Edun and Arc. Ahmed Musa Dangiwa of their appointments as members of the Federal Executive Council (FEC). The development was announced in a memo signed by the Secretary to the Government of the Federation (SGF), Senator George Akume. According to the statement, President Tinubu directed that Edun, who…
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Court backs FCCPC authority to investigate complaints, dismisses Air Peace case
The Federal High Court in Abuja has dismissed a suit filed by Air Peace Limited challenging the powers of the Federal Competition and Consumer Protection Commission (FCCPC) to investigate consumer complaints and issue summons. The judgment, delivered on Monday by Justice James Omotosho, affirmed the authority of the commission under the Federal Competition and Consumer Protection Act (FCCPA) 2018 to…
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FG raised N100bn from dormant accounts, unclaimed dividends in 2025
The Debt Management Office (DMO) in a report has revealed that the Federal Government has raised N100 billion through the Unclaimed Funds Trust Fund (UFTF), drawing on dormant bank balances and unclaimed dividends as part of its domestic borrowing programme. The debt office in its latest domestic debt stock report, listed an instrument known as “UFTF FGN Security” valued at…
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