Chinese tech giant Alibaba said Wednesday that net profit dropped by nearly a fifth during its most recent fiscal year, weighed by challenges in the domestic economy and an expensive push into artificial intelligence.

By Emma Ujah, Abuja Bureau Chief The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has said that the new Tax Acts were not just about raising revenue but building trust among members of the Nigerian public. He spoke virtually yesterday at the opening of the 2026 Annual Conference of the […]

By Progress Godfrey  The Federal Competition and Consumer Protection Commission (FCCPC)   has backed Lagos State’s move to eliminate estimated billing, urging other states to adopt similar reforms across Nigeria’s electricity market. The Commission, in a statement on Tuesday, said the initiative signals a shift towards transparency, improved service delivery and stronger consumer protection, with smart […]

•Only Dangote Refinery, Ardova, Navgas have supplies By Udeme Akpan, Energy Editor There are indications that the price of Liquefied Petroleum Gas, LPG, also known as cooking gas, may rise sharply across country as depot stocks dry up amid increasing domestic demand. Checks by Vanguard yesterday showed that only the Dangote Petroleum Refinery, Ardova Plc and […]

•Nigeria’s oil output rises to 1.663m By Udeme Akpan, Energy Editor & Obas Esiedesa Despite the increase in pump prices of Premium Motor Spirit, PMS, also known as petrol, Nigeria’s daily consumption increased by 10.78 per cent in April 2026 to 52.4 million litres, from 47.3 million litres recorded in March, according to data released by […]