The Dangote Refinery has expressed support for the recently approved 15 per cent tax on petrol and diesel imports into Nigeria. Pinnacle Daily reports that Tinubu had, in a letter dated October 21, 2025, and addressed to the Federal Inland Revenue Service and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, directed immediate implementation of …
As 92-year-old President Paul Biya of Cameroon begins his eighth term after 43 years in power, and 83-year-old President Alassane Ouattara of Côte d’Ivoire, who has ruled for 14 years since 2011, retains firm control following their back-to-back election victories, global debates over Africa’s deepening sit-tight syndrome, leadership succession, and constitutional manipulation have once again …
The Securities and Exchange Commission (SEC) has disclosed that Nigerians have lost an estimated N300.2 billion to Ponzi and illegal investment schemes in recent years, sparking intensified enforcement and heightened investor-protection efforts. AbdulRasheed Dan-Abu, Head of Fintech and Innovation at the SEC, revealed the figure during the Commission’s 2025 Journalists Academy in Abuja on Thursday. …
The tax credit to Oando Plc rose by 303 per cent to ₦181.85 billion in the third quarter of the year amid the company’s poor financial performance over the past years. A review of its financial statement for the nine months ended September 30, 2025, released on Thursday, October 30, revealed that the tax credit …
The House of Representatives has approved President Bola Tinubu’s request to borrow $2.35 billion to finance part of the 2025 budget deficit. The lawmakers also gave the green light for the issuance of a $500 million debut sovereign sukuk in the international capital market to fund key infrastructure projects and broaden Nigeria’s financing sources. The …
As emerging domestic refiners and dominant importers of petroleum products battle for market share, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned against monopolistic practices in the downstream oil sector, calling for fair access and open competition. PETROAN President, Dr Billy Gillis-Harry, made the call while presenting a paper titled “New …
The Minister for Budget and Economic Planning, Senator Abubakar Atiku Bagudu, yesterday at the Multi-Stakeholder Dialogue by Action Aid Nigeria on the theme "Rethinking Poverty Reduction Strategies in Nigeria", spoke about government effort and the need for partnership with the private sector. Excerpts: Rethinking Poverty Reduction Strategy What we have been trying to do as …
The All Progressives Congress (APC) has disclosed that four serving governors elected on the platform of opposition parties are in advanced discussions to defect to the ruling party before the end of 2025. According to the APC, the move is part of its broader political strategy to consolidate its hold on power and expand its …
Lagos and four other highest-debtor states account for 50.32 per cent of the total subnational debt in 2024. The four other states are Kaduna, Edo, Ogun, and Bauchi, a review of the report released by BudgIT on Tuesday, October 28 has shown. According to BudgIT, a Nigeria’s leading civic-tech organisation promoting fiscal transparency and accountability, …
Anambra has emerged as the best-performing state in the federation, surpassing Lagos and 33 other states, according to BudgIT’s 2025 fiscal performance ranking. The ranking is contained in BudgIT’s 2025 edition of the State of States Report, released on Tuesday, October 28. The flagship report, themed, 'A Decade of Subnational Fiscal Analysis: Growth, Decline and …
