Shell’s recent departure from Nigeria’s onshore oil sector is seen as a pivotal moment, raising optimism among local firms to rejuvenate production in Africa’s largest oil exporter. Industry insiders and analysts emphasise the challenges faced by oil majors in the region but foresee opportunities for indigenous companies to reverse the output decline in the Niger Read More…
The Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have joined hands in a collaborative effort to intensify the fight against corruption in Nigeria. This powerful alliance was emphasised during a visit by the Chairman of the ICPC, Dr. Musa Aliyu, SAN, to the EFCC headquarters Read More…
In Abuja, certain lawmakers in the House of Representatives have maintained an unusual silence regarding the ongoing controversy surrounding the distribution of rice palliatives attributed to President Bola Tinubu. This comes in the wake of Rep. Dekeri Anamero’s disclosure that Tinubu provided each member with two trailer loads of rice intended for distribution among their Read More…
President Bola Tinubu has submitted a proposal seeking Senate approval for the securitisation of the balance of Ways and Means revenue in Nigeria’s Consolidated Revenue Fund (CRF), citing concerns about outstanding debt due to domestic debt servicing. Addressing Senate President Godswill Akpabio, Tinubu underscored the necessity of addressing the debt burden through this strategy. “In Read More…
In a significant move, the Senate has approved the N28.7 trillion 2024 Appropriation Bill, marking an increase from the initially proposed N27.5 trillion by President Bola Tinubu, with an additional N1.2 trillion allocated. The approval followed the endorsement of the Senate Committee on Appropriation’s report during Saturday’s plenary session in Abuja. According to Sen. Solomon Read More…
Governor Babajide Sanwo-Olu of Lagos State, speaking after attending a Christmas service, urged Nigerians to hold onto hope amidst challenges, citing optimism for a brighter future under President Bola Tinubu’s administration. In an interview with journalists, he emphasised the commitment to expedite development across Lagos. “We are undergoing a phase akin to a patient in Read More…
The Minister of Power, Mr. Adebayo Adelabu, reaffirmed the commitment to ensure uninterrupted power supply across Nigeria during the Christmas and New Year celebrations, offering reassurance to citizens. In a statement titled “Fostering Unity and Progress,” Mr. Bolaji Tunji, Special Adviser for Strategic Communication and Public Relations to the Minister, conveyed Adelabu’s message emphasising unity Read More…
The Federal Inland Revenue Service (FIRS) has introduced a significant measure, approving amnesty on penalties and interests linked to outstanding tax liabilities, as confirmed by the Chairman of FIRS, Zacch Adedeji, in a statement issued on Sunday in Abuja. Recognising the financial challenges faced by taxpayers in fulfilling their tax obligations, the FIRS has opted Read More…
Finance Minister Olawale Edun announced the Federal Executive Council’s (FEC) approval of a $1 billion concessional loan from the African Development Bank (AfDB) aimed at bolstering the budget and enhancing foreign exchange reserves. Edun revealed the loan details, citing a 4.2% interest rate over 25 years with an eight-year moratorium, following a cabinet meeting in Read More…
His Royal Majesty, Omonoba N’Edo Uku Akpolokpolo Ewuare II, the Oba of Benin, stressed Nigeria’s diversity and unity during his visit to Governor Babajide Sanwo-Olu at the Lagos House, Marina. The Oba highlighted how Nigeria’s diversity and unity define the nation’s stature as a giant in Africa. He emphasised the importance of unity, urging Nigerians Read More…
