Economy exits contraction but households remain pessimistic — CBN
•As PMI rebounds to 50.1pts •Business confidence moderates to 7.2pts •Households shun houses, cars, investments •Food remains top spending priority By Babajide Komolafe Nigeria’s economy exited contraction in June as the Purchasing Managers’ Index, PMI, rebounded to 50.1 points from 49.6 points in May, driven by sustained expansion in the agriculture sector despite continued weakness […]
NNPC remits N19.5tn to Federation Account in 14 months
By Obas Esiedesa, Abuja The Group Chief Executive Officer of NNPC Limited, Engr. Bayo Ojulari, yesterday disclosed that the company remitted N19.5 trillion to the Federation Account between April 2025 and June 2026. Speaking during the 2026 Nigeria Oil and Gas Energy Week in Abuja, Ojulari said the company also achieved $3.4 billion in cost savings […]
FG suspends enforcement of new internet platform, digital economy regulations
By Progress Godfrey The Federal Government has suspended the enforcement of new regulations affecting internet platforms, online intermediaries and other cross-cutting digital economy issues pending the completion of a national policy review. The directive was contained in a statement issued by the Minister of Communications, Innovation and Digital Economy Dr Bosun Tijani, on Tuesday, after a […]
Nigeria’s national identity database captures over 136 million — NIMC
•FG pledges full implementation of NIMC’s new Act By Progress Godfrey ABUJA – The National Identity Management Commission (NIMC) says Nigeria’s National Identity Database has enrolled more than 136 million Nigerians and legal residents. Director-General of NIMC, Engr Abisoye Coker-Odusote, disclosed this during a courtesy visit to the Federal Ministry of Budget and Economic Planning, as […]
Customs surpasses 2025 revenue target by 10.24%
Seeks Reps’ approval for N11.27tn 2026 budget By Gift ChapiOdekina, Abuja The Nigeria Customs Service (NCS) yesterday disclosed that it exceeded its 2025 revenue target by generating N7.277 trillion, surpassing its target of N6.584 trillion by 10.24 per cent, even as it presented its proposed N11.274 trillion 2026 budget to the House of Representatives Committee on […]
LPG: FG targets 5m homes for cooking gas transition — Ekpo
•Says Nigeria’s development hinges on gas utilisation By Ediri Ejoh The Federal Government has reaffirmed its commitment to expanding gas utilisation, saying it is targeting five million households to transition from firewood, kerosene and other biomass fuels to Liquefied Petroleum Gas (LPG) as part of efforts to cut carbon emissions and improve public health. Speaking […]
Nigeria’s LNG exports hit N20.06trn as global trade reaches record high
By Udeme Akpan, Energy Editor Nigeria’s Liquefied Natural Gas (LNG) exports rose by one million metric tonnes (Mt) in 2025 to 14.78 Mt, valued at N20.0 trillion, from 13.78 Mt in 2024, valued at N18.89 trillion, reinforcing its position among the world’s leading LNG suppliers as global trade climbed to a record 436.98 Mt, according to […]
Insecurity, soaring operational costs, others stall ICT tax boom
Nigeria’s Information and Communication Technology (ICT) sector recorded its first decline in Company Income Tax (CIT) in four years, reflecting a reversal of fortune in the sector.
Recapitalisation: Companies with outstanding claims will not be relicensed — NAICOM
By Rosemary Iwunze As the insurance recapitalisation deadline of July 31st 2026 draws near, the National Insurance Commission, NAICOM, has stated that it will not re-license any company with outstanding claims. In a letter to all Managing Director/CEOs of insurance companies, issued yesterday, titled: “Regulatory Directive – Settlement of Discharged Claims as A Precondition for Re-Licensing […]
FG incurs N358.3bn electricity subsidy in Q1 — NERC
By Obas Esiedesa, Abuja The Federal Government (FG) incurred an electricity tariff subsidy obligation of N358.32 billion in the first quarter of 2026 as it continued to bridge the gap between cost-reflective electricity tariffs and the rates paid by consumers, according to the latest report by the Nigerian Electricity Regulatory Commission (NERC). The Commission, in its […]
Beta Glass injects N1tr into economy in 10yrs, unveils new board
By Jimoh Babatunde Beta Glass Plc says it has contributed over N1 trillion to Nigeria’s economy in the last 10 years, reaffirming its commitment to expanding investments, sustainable manufacturing and shareholder value. At its 52nd Annual General Meeting in Lagos, shareholders approved key resolutions, including the reconstitution of the Board of Directors. According to an independent […]
