Economy
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Dangote accuses NMDPRA CEO of splurging $5m on children school fees in Switzerland, demands probe
By Kunle Sanni President of the Dangote Group, Alhaji Aliko Dangote, has called for a full investigation into allegations that the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, spent about $5 million on the secondary school education of his four children in Switzerland. Speaking on Sunday during a press briefing at the Dangote…
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Alimosho LG charts 2026 fiscal direction as chairman flags off budget, procurement retreat
The Chairman of Alimosho Local Government in Lagos State, Johnson Akinpelu, has officially declared open the 2026 Budget and Annual Procurement Retreat in Ibadan, Oyo State. The retreat convened top government officials, procurement officers, heads of departments, development partners and key stakeholders to deliberate on the fiscal priorities and governance direction of the local government ahead of the 2026 fiscal…
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NUPRC issues 28 flare gas permits, targets $2bn investment, 100,000 jobs
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued Permits to Access Flare Gas (PAFG) to 28 successful awardees under the Nigerian Gas Flare Commercialisation Programme (NGFCP), signalling a major shift from environmental liability to economic opportunity in Nigeria’s upstream petroleum sector. Speaking at a stakeholders’ meeting on Saturday, Engr. Gbenga Komolafe, Chief Executive of NUPRC, said the 2022 NGFCP…
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DGFIP MoU does not grant France access to Nigerian’s taxpayer data, says FIRS
The Federal Inland Revenue Service (FIRS) on Saturday allay fears that Memorandum of Understanding (MoU) signed with France’s Direction Générale des Finances Publiques (DGFiP) does not grant France government access to Nigerian’s taxpayer data, digital systems, or any element of its operational infrastructure. The revenue agency said it observed recent reports and online commentary regarding the MoU signed with DGFiP. …
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FG approves Bakassi, Ondo deep seaports, Katsina-Ala hydropower project
Secures $4.29bn private investment By Kunle Sanni – The federal government has approved the development of the Bakassi Deep Seaport, Ondo Deep Seaport and the Katsina-Ala Hydropower Plant under the Public-Private Partnership (PPP) framework, attracting about $4.29 billion in private sector investment. The Director General of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh, said the approvals reflect renewed…
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Tax reforms goal is to expand tax net, reduce burden on households, small businesses, says Oyedele
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele has expressed that the tax reform policy of the Federal Government aimed to expand the tax net, simplify compliance, reduce burden on households, and small businesses. “This reform is not to punish anybody,” he said. “It is to make life easier, reduce double taxation, and support economic…
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EFCC urges Opay to strengthen compliance, prevent financial crimes
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has urged Opay to prioritise strict compliance with Nigeria’s financial regulations to protect the integrity of its operations and curb money laundering and fraud. Olukoyede gave the charge on Thursday during a courtesy visit to the EFCC headquarters in Abuja by Opay’s Chief Executive Officer, Steven Wen,…
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Tinubu says digital workforce key to Nigeria’s economic transformation
By Kunle Sanni – President Bola Tinubu has reaffirmed his administration’s commitment to building a digital workforce capable of driving Nigeria’s long-term economic growth, describing technical talent as central to the country’s ambition of becoming a trillion-dollar economy. Speaking on Thursday at the 3 Million Technical Talent (3MTT) National Impact Summit and the launch of the 3MTT Digital Skills Fund…
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Mobile phone sector now major pillar of modern commerce – AMPAT president
By Deborah Oladejo, Osogbo – The National President of the Association of Mobile Phone and Allied Products Traders of Nigeria (AMPAT), Hon. Musa Mamsa, has described the mobile phone and allied products sector as one of the strongest pillars of modern commerce, driving communication, digital trade, financial inclusion, and security. Mamsa made the remark in Osogbo during the inauguration of…
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Nigeria’s merchandise trade raises to N38.9trn in Q3 2025, says NBS
Nigeria’s total merchandise trade rose to N38.9 trillion in the third quarter of 2025, reflecting steady momentum in the country’s external sector despite global economic uncertainties. This is according to the latest Foreign Trade in Goods Statistics report by the National Bureau of Statistics (NBS). The latest figures represent an 8.71% increase from the N35.8 trillion recorded in the corresponding…
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