FG targets additional 300,000bpd oil production with 2026 bid round
•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 […]
CBN to create short code to fast-track complaint resolution
The Central Bank of Nigeria (CBN) yesterday said it is working with the Nigerian Communications Commission (NCC) to create an industry-wide short code that will allow consumers to communicate with their financial institutions anytime, anywhere, with or without internet access. The Director, Consumer Protection and Financial Inclusion Department, CBN, Dr. Aisha Isa-Olatinwo, disclosed this at a […]
Total pension fund assets rise 2.2% to N26. 6trn
…As PenCom goes tough on pension defaulters By Rosemary Iwunze The total pension fund assets under the Contributory Pension Scheme, CPS, increased by 2.2 per cent, month-on-month, MoM to N26.66 trillion in October 2025 from N26.09 trillion in September 2025. National Pension Commission, PenCom, disclosed this yesterday in the unaudited report on pension funds industry portfolio […]
Petrol supply from Dangote Refinery rises 38% to 23.5m litres daily
–Imports hit 52m litres per day By Obas Esiedesa, Abuja Domestic supply of Premium Motor Spirit (PMS), commonly known as petrol, rose by 37.7 percent in November 2025 to 23.52 million litres per day, up from 17.08 million litres per day in October, according to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The […]
ECOWAS moves to cut air travel cost in Nigeria, others
By Favour Ulebor, Abuja The Economic community of West African States has approved major changes aimed at reducing the high cost of flying within Nigeria and the entire West Africa region. In a statement yesterday, the Commission said Heads of State and Government had, at their December 2024 summit in Abuja, adopted a measure that will […]
Forex: CBN limits cash payout for PTA/BTA at 25%
By Babajide Komolafe The Central Bank of Nigeria (CBN) has introduced a limit of 25 per cent on the amount of cash beneficiaries can receive when accessing their Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) from Bureau De Change (BDCs). The CBN disclosed this in a document titled, Frequently Asked Questions on Current Reforms of […]
