•Offers 37 blocks to investors, targets 500m barrels reserve addition Why 13 blocks returned to basket, NUPRC By Udeme Akpan & Obas Esiedesa The Federal Government yesterday said the ongoing 2025 Licensing Round is expected to deliver an additional 300,000 barrels per day (bpd) of crude oil and condensate production within three years Speaking at the […]

By Nkiruka Nnorom with agency report Nearly 100 US service members have been injured over the last two weeks of escalating strikes on Iran, the Pentagon has said. This is even as Tehran launched a wave of reprisals to the tenth consecutive night of attacks.President Donald Trump vowed to take care of the Houthi rebels […]

Former Assistant Director of the Department of State Services, Dennis Amachree, has described the regime of late military Head of State, late Gen. Sani Abacha, as one of “extreme authoritarianism and brutal repression.” The retired intelligence officer added that Abacha’s regime was marked by widespread human rights violations and political persecution. Amachree made the remarks […]

By Demola Akinyemi, Ilorin President Bola Ahmed Tinubu has approved the establishment of a new Nigerian Army battalion in Omu-Aran, Irepodun Local Government Area of Kwara State, as part of efforts to strengthen security in the state. The development was disclosed in a statement issued by the Deputy Chief Press Secretary to the Kwara State […]

By Nkiruka Nnorom LAGOS—Vice President Kashim Shettima has said Nigeria cannot achieve its $1 trillion economy target on the shaky terrain of weak compliance, regulatory laxity and ethical ambivalence, declaring that only a bedrock of flawless corporate governance could sustain the nation’s economic ambition. Speaking at the 3rd National Corporate Governance Summit organised by the […]

•Says banks no longer need forbearance •External reserves sustains upward trend, hit $52.5bn By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 per cent. CBN Governor, Mr. Olayemi Cardoso, announced the decision yesterday after the 306th Monetary Policy Committee (MPC) meeting in Abuja. He […]

By Elizabeth Adegbesan The Naira yesterday appreciated to N1,409 per dollar in the parallel market from N1,416 per dollar on Monday. Similarly, the naira appreciated to N1,374.5 per dollar in the Nigerian Foreign Exchange Market, NFEM .Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to […]

By Joseph Erunke, Abuja The Minister of Information and National Orientation, Mohammed Idris, yesterday declared that the far-reaching economic reforms introduced by President Bola Tinubu were steadily repositioning Nigeria for long-term prosperity. He insisted that the difficult decisions taken by the administration were already yielding positive results in fiscal stability, investor confidence and national development. […]

“Prince Adeyemi, who presented himself as DG of PEAC/PFIPC, approached the Foreign Ministry thrice seeking its collaboration and endorsement to organise a World Investment Summit”

By Providence Ayanfeoluwa The Nigeria Revenue Service, NRS, has set July 31, 2026, as the deadline for all large taxpayers to fully adopt the national e-invoicing and Electronic Fiscal System (EFS). This follows a public notice issued by the NRS on February 17, 2026, on the implementation timeline and the mandatory adoption of the national e-invoicing […]

By Elizabeth Adegbesan The Federal Government of Nigeria (FGN) bond auction in July 2026 was oversubscribed by 45 percent, or N540 billion, attracting total subscriptions of N1.74 trillion against the N1.2 trillion offered by the Debt Management Office (DMO). This reflects strong investor demand for Federal Government of Nigeria (FGN) debt instruments. According to the July […]

By Godwin Oritse In a bid to strengthen security at Nigerian ports, the Nigerian Maritime Administration and Safety Agency (NIMASA) has commenced a review of security protocols governing interactions between ships and port facilities. In a notice issued to all maritime security stakeholders, NIMASA stated that all vessels are required to submit their Security-Related Pre-Arrival Information […]

By UdemeAkpan, Energy Editor The Dangote Petroleum Refinery has significantly increased exports of refined petroleum products as inadequate domestic crude oil supply and persistent foreign exchange constraints continue to hamper its operations. This comes as rising global crude oil prices are expected to increase feedstock costs for the 650,000-barrels-per-day refinery, although stronger prices for refined petroleum […]

By Obas Esiedesa The Federal Government  yesterday said it has paid about N333 billion to eight electricity generation companies (GenCos) under its power sector debt settlement programme, and launched a second N729 billion bond issuance aimed at clearing more legacy debts and restoring liquidity in the Nigerian Electricity Supply Industry (NESI). Speaking at an investors’ […]

By Dennis Agbo ENUGU-The Chairman of Isi-Uzo Local Government Council, Mr. Obiora Obeagu, has renewed call for the rehabilitation of the Nkalagu-Nsukka federal road, describing its poor condition as a major challenge despite the council’s sustained efforts to keep the route motorable. Speaking while receiving a tripartite assessment committee comprising the Nigeria Labour Congress (NLC), […]