Business Archives - Page 14 of 25

Cooking Gas Price Surges 40% to N1,400 per kg Amid Middle East Crisis

March 5, 2026

The price of cooking gas in Nigeria has risen sharply, with the ex‑depot rate increasing to N18 million per 20 metric tonnes and retail prices reaching about N1,400 per kilogramme, industry sources said, as tensions in the Middle East affect global energy markets. The rise in cooking gas prices follows ongoing crises in the Middle East that have...

VAT Revenue Rises 34% to N6.4tn in Nine Months, FIRS Says

March 4, 2026

The Federal Inland Revenue Service has reported a 34 percent increase in value-added tax revenue to N6.4 trillion in the first nine months of the 2026 fiscal year, the agency said in a statement. The FIRS manages indirect tax collections in Nigeria, including value-added tax, which is charged on goods and services. VAT is a...

Business

Man Lauds Unidos’ Move to Reposition Nigeria’s Manufacturing Sector

March 3, 2026

The Manufacturers Association of Nigeria has praised the Unidos initiative for its contribution to repositioning Nigeria’s manufacturing sector, particularly in areas of market expansion, export optimisation and capacity support for manufacturers. The commendation was conveyed at the unveiling of the Unidos dashboard, a platform designed to provide data analytics, trade insights and market access support...

Depositors of Defunct Heritage Bank Appeal to Tinubu, CBN for Bail-Out

March 3, 2026

Depositors of the now-defunct Heritage Bank have appealed to President Bola Tinubu and the Central Bank of Nigeria to intervene with financial support following prolonged inability to access their funds, they said in separate statements. Heritage Bank was closed on February 23, 2026, after regulators determined that the institution was no longer financially viable. The...

Dangote Refinery Raises Petrol Price from N774 to N874 per Litre

March 2, 2026

Dangote Petroleum Refinery has raised the ex-depot price of Premium Motor Spirit (petrol) by N100, bringing the gantry rate to N874 per litre from the previous N774, refinery officials confirmed on Monday. The price change comes as the refinery adjusts to recent shifts in the global crude oil market. The increase follows a suspension of...

FG, AFC Sign $1.3bn Mining Investment Deal with Alumina Refinery, Geoscience Mapping

March 2, 2026

The Federal Government, through the Solid Minerals Development Fund, and the Africa Finance Corporation have signed an investment agreement worth $1.3 billion to jointly fund three mining sector initiatives, including construction of a major alumina refinery, officials said. The agreement was executed at a ceremony in Abuja, with representatives of both parties signing a memorandum of...

NNPC Woos Investors as Ajaokuta–Gwagwalada Gas Segment Eyes July Completion

February 27, 2026

The Nigerian National Petroleum Company Limited and industry stakeholders have intensified efforts to attract investors as the Ajaokuta–Gwagwalada segment of the Ajaokuta–Kaduna–Kano gas pipeline prepares for its expected first gas delivery by July 2026, officials said. The Ajaokuta–Gwagwalada section is part of the wider AKK pipeline network, a key national infrastructure project intended to enhance...

Nigeria Customs Denies Reports of Exchange Rate Manipulation on B’Odogwu

February 26, 2026

The Nigeria Customs Service has clarified that its Unified Customs Management System, known as B’Odogwu, does not in any way generate, substitute for, or alter foreign exchange rates used in cargo clearance valuation. The statement was made by the National Public Relations Officer of the Nigeria Customs Service, Abdullahi Maiwada, in a press release on...

Nigeria Revamps Air Cargo to Boost Non‑Oil Exports

February 26, 2026

Efforts to strengthen Nigeria’s non‑oil export capacity are taking shape through reforms in the air cargo sector that focus on infrastructure, logistics efficiency and revenue processes, industry sources say. Nigeria’s non‑oil export sector has long faced logistical challenges that limit the competitiveness of agricultural and other export goods. The Federal Airports Authority of Nigeria has...

Dangote Refinery Targets Depot Owners, Major Marketers in New Marketing Model

February 23, 2026

Dangote Refinery has resumed the sale of Premium Motor Spirit, also known as petrol, to major marketers and depot owners under a revised distribution model endorsed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The refinery’s new marketing approach shifts from the previous arrangement that allowed sales to all classes of buyers, including independent...

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2027: Nigerians Question Whether Their Votes Will Count

September 12, 2026

As Nigeria prepares for the 2027 general elections, concerns over the credibility of the electoral process have resurfaced, with stakeholders divided over whether voters’ choices will be fully protected and reflected in the final results. The debate followed the inauguration of the All Progressives Movement, APM, presidential campaign office in Ibadan, where Oyo State Governor...

2027: Obi Supporters to Track Votes From Polling Units to Abuja, Says Yesufu

September 11, 2026

Political activist and Nigeria Democratic Congress member, Aisha Yesufu, has said supporters of the party’s presidential candidate, Peter Obi, will take direct steps to protect their votes in the 2027 presidential election. Yesufu said the supporters would deploy representatives to polling units and monitor election materials and results throughout the collation process. She said the...

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

September 10, 2026

The House of Representatives Public Accounts Committee, PAC, has commenced an investigation into outstanding oil revenue debt owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, by the Nigerian National Petroleum Company Limited, NNPCL, and oil companies. The liabilities under investigation have been put at N432.07 billion. The probe followed findings contained in...

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2027: Nigerians Question Whether Their Votes Will Count

2027: Obi Supporters to Track Votes From Polling Units to Abuja, Says Yesufu

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

Latest News

Cooking Gas Price Surges 40% to N1,400 per kg Amid Middle East Crisis

VAT Revenue Rises 34% to N6.4tn in Nine Months, FIRS Says

Man Lauds Unidos’ Move to Reposition Nigeria’s Manufacturing Sector

Depositors of Defunct Heritage Bank Appeal to Tinubu, CBN for Bail-Out

Dangote Refinery Raises Petrol Price from N774 to N874 per Litre

FG, AFC Sign $1.3bn Mining Investment Deal with Alumina Refinery, Geoscience Mapping

NNPC Woos Investors as Ajaokuta–Gwagwalada Gas Segment Eyes July Completion

Nigeria Customs Denies Reports of Exchange Rate Manipulation on B’Odogwu

Nigeria Revamps Air Cargo to Boost Non‑Oil Exports

Dangote Refinery Targets Depot Owners, Major Marketers in New Marketing Model

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2027: Nigerians Question Whether Their Votes Will Count

2027: Obi Supporters to Track Votes From Polling Units to Abuja, Says Yesufu

Reps Probe N432bn Oil Revenue Debt Owed to NMDPRA

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