Business Archives - Page 9 of 20

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...

Raw Materials Export Soars Despite Push for Local Processing

February 23, 2026

Nigeria’s earnings from the export of raw materials rose to $1.24 billion in 2025, representing a 41 percent increase from the $880 million recorded in 2024, the National Bureau of Statistics has reported. The data forms part of the NBS “Foreign Trade in Goods Statistics” for 2025. The bureau said the increase occurred despite ongoing...

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

June 3, 2026

An ISWAP commander killed during ongoing military operations in Nigeria’s North-East was among at least 50 terrorists neutralised by troops of Operation Hadin Kai, according to military authorities. The operation, which targeted Islamic State West Africa Province (ISWAP) fighters and other insurgents, was carried out as part of intensified efforts to dismantle terrorist networks operating...

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

June 2, 2026

Teachers in Enugu State on Tuesday joined a nationwide solidarity rally organised by the Nigeria Union of Teachers (NUT), marching to the Government House in Enugu to demand the immediate release of abducted Oyo pupils and their teachers. The demonstration followed a directive from the national leadership of the union after the abduction of dozens...

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

June 2, 2026

The Oyo lawmakers defection trend gained momentum on Tuesday as six members of the House of Representatives from Oyo State formally left the Peoples Democratic Party (PDP) for the Allied Peoples Movement (APM). The lawmakers announced their departure during plenary at the House of Representatives, citing the prolonged internal crisis and leadership disputes within the...

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

Tinubu Re-Election Project Is My Number One Priority, Oborevwori Declares

Latest News

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

Raw Materials Export Soars Despite Push for Local Processing

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ISWAP Commander Killed as Troops Eliminate 50 Terrorists in North-East

Enugu Teachers Besiege Government House, Demand Release of Abducted Oyo Pupils

Oyo Lawmakers Defection Deepens as Six Reps Dump PDP for APM

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