The federal government has dismissed reports that it plans to introduce new taxes on telecommunications services and petroleum products. It dismissed the claim in a statement on Tuesday by Maryann Duke, Senior Special Assistant on Communications and Press Affairs to the Minister of Finance and Coordinating Minister of the Economy, describing it as inaccurate and …
The Armed Forces of Nigeria have recorded significant gains in ongoing operations against terrorism, banditry, kidnapping and crude oil theft across the country, rescuing 398 kidnapped victims, arresting 31 terrorists and their collaborators, and neutralising 10 terrorists within the past week. Director of Defence Media Operations, Major General Michael Onoja, disclosed this on Tuesday in …
The Court of Appeal sitting in Abuja has granted an order for a stay of execution of the Federal High Court judgment that directed the Independent National Electoral Commission (INEC) to deregister five political parties. The suspension preserves the legal status of the affected parties pending the determination of the substantive appeal. The Affected political …
Dangote Petroleum Refinery has further reduced its ex-depot price for Premium Motor Spirit (PMS), also known as petrol, from ₦1,250 to ₦1,175 per litre. The latest reduction, which reflects a ₦75 per litre cut, takes effect from June 16, 2026. This comes on the heels of the recent decline in crude oil prices …
The International Monetary Fund (IMF) has warned that the rapid rise of stablecoins in Nigeria could weaken the country’s control over its monetary system. It highlighted this concern in a report on Tuesday following the release of its latest Article IV report on Nigeria, detailed in Annex VII. According to the Brettonwood financial institution, more …
In a major bid to shield the continent from global supply shocks and climate pressures, the Africa Finance Corporation and Dangote Group have reached a deal for a massive US$7 billion expansion of fertilizer manufacturing capacity in Africa. According to a statement by the Dangote Group, the mega-project will dramatically scale up production at …
The Central Bank of Nigeria (CBN) has directed banks and payment companies to keep all payment transaction data generated in Nigeria within the country from January 1, 2027. The move is part of new measures introduced by the apex bank to make the payments industry more transparent, competitive and secure. In a circular issued on …
Nigeria's natural gas production rose to 7.93 billion cubic feet per day (bcf/d) in May 2026, marking a modest 0.63% year-on-year increase from the 7.88bcf/d recorded in May 2025. In The figures reveal a significant shift in gas utilisation patterns, with domestic market sales rising to 2.18bcf/d while export sales dropped sharply from 4.13bcf/d to …
Nigerian troops have rescued Mrs. Amina Abubakar, the wife of late Major General Rabe Abubakar, a former Director of Defence Information, who was abducted by bandits several weeks ago alongside her husband, the Defence Headquarters announced on Sunday. Mrs. Abubakar was freed during a fierce encounter with her captors in Tunga Village, Katsina State, following …
The Alliance for Economic Research and Ethics has called on the federal government to reject the International Monetary Fund's (IMF) recommendation for new taxes on fuel, telecommunications services, and consumption. In a policy statement released on June 14 by its chairman, Dele Oye, the think tank group warned that such measures would worsen poverty, raise …
