The Nigerian National Petroleum Company Limited (NNPC Ltd.) has refuted claims circulating in some media outlets that the Old Port Harcourt Refinery, which resumed operations two months ago, has been shut down. According to NNPC Ltd., the refinery is fully operational and preparations for the day’s loading operation are currently ongoing. Olufemi Soneye, Chief Corporate Read More…
The Nigerian Securities and Exchange Commission (SEC), under the leadership of Dr. Emomotimi Agama, has proposed a new law aimed at regulating the activities of crypto influencers. The law, set to take effect on June 30, 2025, requires all crypto platforms or Virtual Assets Service Providers (VASPs) to obtain a license from the SEC before Read More…
President Bola Tinubu has presented the 2025 national budget, totaling N47.96 trillion, to the National Assembly. This budget, themed the “Budget of Restoration: Securing Peace and Rebuilding Prosperity,” aims to address key areas such as defence, infrastructure, health, and education. In his address, President Tinubu emphasized the importance of collective effort in rewriting Nigeria’s narrative. Read More…
The debate surrounding Nigeria’s Value Added Tax (VAT) sharing formula has deepened following the recent clarification by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee. In a press statement, Oyedele responded to the Revenue Mobilisation Allocation and Fiscal Commission’s (RMAFC) position on the proposed VAT distribution formula, emphasizing the need for Read More…
The Federal Competition and Consumer Protection Commission (FCCPC) has announced a series of inquiries targeting Guaranty Trust Bank (GTBank), MTN Nigeria, and Air Peace Limited in response to mounting consumer complaints. The investigations, set to begin on December 3, 4, and 5, aim to address allegations of poor service delivery, exploitative practices, and potential breaches Read More…
In a landmark decision, Australia has approved a social media ban for children under the age of 16, following an emotive debate that has captivated the nation. The new law passed on Thursday, sets a global benchmark with one of the toughest regulations targeting Big Tech companies. The Social Media Minimum Age bill mandates that Read More…
In a significant move towards sustainable development, Governor Babajide Olusola Sanwo-Olu today presented the Year 2025 Budget Estimates of N3.005 trillion to the Lagos State House of Assembly. The budget, aptly christened the “Budget of Sustainability,” aims to foster continuity, resilience, and prosperity for Lagosians. The Y2025 budget is structured around five key pillars: Infrastructure Read More…
Governor Babajide Olusola Sanwo-Olu is set to present the Y2025 Appropriation Bill to the Lagos State House of Assembly on Thursday, November 21, 2024, at noon. This highly anticipated event will unveil the “Budget of Sustainability,” a comprehensive plan to foster continuity, resilience, and prosperity for Lagosians. The Y2025 budget, dubbed the “Budget of Sustainability,” Read More…
In a significant boost to its oil output, Nigeria’s state oil firm, the Nigerian National Petroleum Corporation (NNPC), announced on Thursday that it has increased oil production to 1.8 million barrels per day (bpd). This marks a substantial rise from the 1.3 million bpd recorded in October, as reported by the Organisation of the Petroleum Exporting Read More…
The Nigerian government has unveiled its Medium Term Expenditure Framework (MTEF) for 2025-2027, proposing a total expenditure of ₦47.9 trillion for the 2025 fiscal year. This ambitious plan aims to drive economic growth and development across various sectors. The MTEF includes several critical assumptions and projections: The MTEF is a crucial document that outlines the government’s fiscal Read More…
