Economists, industry experts and public finance analysts have hailed President Bola Tinubu’s latest executive order stripping the Nigerian National Petroleum Company Limited (NNPC) of the power to retain portions of oil and gas revenues before they reach the Federation Account. They said the order would help to strengthen revenue remittance compliance and enhance transparency, adding …
Former chairman of United Bank for Africa (UBA) Israel Ogbue, has passed on at the age of 99. UBA reportedly announced this in a statement released on Thursday. Ogbue was the father of Awele Elumelu, chairman of Transcorp Hotels, and father-in-law to Tony Elumelu, current chairman of UBA Group. The bank described Ogbue as a …
The federal government has dismissed as false a viral video claiming that Nigeria’s new tax laws will only commence in 2027 and that a 25 per cent tax has been imposed on funds meant for building materials and other transactions. This was contained in a separate clarification by the Presidential Fiscal Policy and Tax Reforms …
Ahead of the beginning of 2026 Lenten season, head of the Roman Catholic Church, Pope Leo XIV, has admonished Christians all over the world to avoid using harsh words that hurt their neighbours in order to create an atmosphere of peace and hope. The Pope gave the exhortation in his message for Lent 2026, which …
Nigeria’s crude oil production rose to 1.459 million barrels per day in January 2026, up by 37,000 bpd when compared to December 2025 production of 1.422 million bpd. This is according to the Organisation of the Petroleum Exporting Countries’ (OPEC) February 2026 Monthly Oil Market Report (MOMR) released on Wednesday, February 11. While the output …
Former Vice-President Atiku Abubakar has criticised the Senate for failing to approve real-time transmission of election results to the Independent National Electoral Commission’s result viewing portal (IReV). On Tuesday, the upper legislative chamber approved the electronic transmission of election results to IReV but included a clause allowing manual collation as a fallback where technology fails. …
The recurring cases of national grid collapse in Nigeria have highlighted the need for a reliable power source to meet electricity demands by households and businesses across the country. This quest has reignited calls for the development and integration of nuclear power into Nigeria’s energy mix as one potential solution to resolving longstanding electricity challenges. …
Dangote Petroleum Refinery has reduced the ex-depot price of its Premium Motor Spirit (PMS), also known as petrol from ₦799 to ₦774 per litre, reflecting a ₦25 cut. The refinery made this known in a notice sent to marketers on Tuesday, February 10. According to the refinery management, the price adjustment takes immediate effect. Pinnacle …
Russia has rejected claims that it is running any government-supported programme to recruit Nigerians to fight in Ukraine. Russian Ambassador to Nigeria, Andrey Podyolyshev, said on Tuesday in Abuja that any recruitment activity, if it exists, is not linked to the Russian state. Reports and videos had suggested that some Nigerians and other Africans were …
Former Kaduna State Governor and ex-Minister of the Federal Capital Territory, Nasir El-Rufai, has dismissed claims of a personal fallout with President Bola Tinubu, saying he never had a personal relationship with the President. El-Rufai clarified the issue during an interview on Trust TV on Monday, saying he supported Tinubu’s 2023 presidential ambition out of …
