The Nigeria Employers' Consultative Association (NECA) has commended the Nigerian government's recent introduction of a 15 per cent import tariff on petrol and diesel, saying that it will strengthen the naira and support the industrialisation agenda in the country. NECA described the policy as a necessary step to stimulate local investment, strengthen the economy, and …
President Bola Tinubu has congratulated Prof. Chukwuma Soludo on his re-election as the governor of Anambra State, saying the victory is a demonstration of his visionary leadership and the significant progress the state has made under his administration. In a statement he personally signed and released on Sunday, President Tinubu commended the people of Anambra …
Dangote Refinery has reduced the price of Premium Motor Spirit (PMS), also known as petrol at its gantry to ₦828 per litre, from ₦877 sold previously. This change reflects a 5.6 per cent drop. The price slash comes amid heightening competition in the downstream petroleum market The Major Energies Marketers Association of Nigeria (MEMAN) last …
The Abuja Electricity Distribution Company (AEDC) has embarked on a mass retrenchment of staff in major restructuring of the company. In a statement released by the company on Friday, November 7, the Abuja DisCo said the restructuring exercise is in line with the company's transformation strategy aimed at delivering improved services to customers and enhancing …
Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr Gbenga Komolafe, has expressed optimism that Nigeria’s oil production will soon experience an upsurge as the Emem Floating Production Storage and Offloading (FPSO), is set for its final voyage to Nigeria. Komolafe stated this on Tuesday during an inspection of the EMEM FPSO at …
Aviation industry stakeholders have expressed concerns about the implications of the proposed additional security levy imposed on international travelers flying into or out of Nigeria. The additional $11.50 charge on passengers’ tickets for the Advance Passenger Information System (APIS) is set to take effect on December 1, 2025. For a round trip, this translates to …
The Nigeria National Petroleum Company Limited (NNPCL) says Nigeria’s oil output has been raised to 1.7 million barrels per day (bpd), with targets of hitting two million bpd by 2027 and three million in the long term. The company said this growth projection is driven by reforms in the oil and gas sector, which has …
Power generation companies (GenCos) in Nigeria have lost an estimated ₦987.92 billion in five years due to the persistent electricity crisis arising from frequent collapse of the national grid and poor distribution infrastructure. A recent report released by the Association of Power Generation Companies (APGC) explained that the figure represents the value of electricity that …
The Nigerian government's approval of a 15 per cent import tax on petrol and diesel, primarily to protect local refineries, has, however, sparked significant concerns over higher fuel prices and increased economic hardship for citizens. A memo dated October 10, 2025, signed by Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), addressed to …
Nestlé Nigeria PLC has announced its financial results, recording a 33 per cent increase in revenue in nine months of 2025 (January to September). According to the report released on Friday, the beverage producer posted a total revenue of N884.5 billion compared to N665.3 billion in the nine months of 2024. The company’s operating profit …
