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BudgIT Slams Ministry Over Delayed Budget Report

22.08.2025
Civic-tech organisation BudgIT has tackled the Federal Ministry of Finance over the non-publishing of the Quarterly Budget Implementation Reports through the Budget Office. In a statement signed by its Senior Communication Associate, Nancy Odimegwu, on Thursday, BudgIT said the action was a clear violation of the Fiscal Responsibility Act, 2007. According to Part V of...
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Nigeria to Offset ₦2.7tn Gas Debt with Royalties

22.08.2025
The Federal Government is planning to clear the N2.7tn owed to gas companies with royalties. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, disclosed this Thursday during a Zoom meeting organised by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, in commemoration of Ekpo’s second year in office. Royalties...
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FDI in Nigeria Plummets Despite Economic Growth

22.08.2025
The Lagos Chamber of Commerce and Industry has expressed concern over the continued decline in foreign direct investment inflows and investors’ cautiousness about committing long-term capital to Nigeria’s real sector despite recent macroeconomic improvements. Director-General of the Chamber, Dr. Chinyere Almona, in a statement on Thursday, said the latest data from the National Bureau of...
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Dangote Refinery Hits 610,000bpd, Nears Full Capacity

22.08.2025
The Dangote Petroleum Refinery is operating more reliably and efficiently than ever before, with output surging to around 610,000 barrels per day this month, edging closer to its official nameplate capacity of 650,000bpd, global energy and commodity agency Argus has revealed. Speaking on a podcast titled “Can the Dangote Refinery Declare Victory Over Doubters?”, obtained...
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Nigerian Stock Market Dips to N88.8tn on Sell-Offs

22.08.2025
The equities market of the Nigerian Exchange Limited closed on a negative note on Wednesday as sustained sell-offs in bellwether stocks wiped off N781bn from investors’ wealth. At the end of the trading session, the market capitalisation dropped to N88.8tn from the previous day’s N89.6tn, reflecting heightened bearish sentiment across key sectors. Similarly, the benchmark...
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NAHCO Aims for N300 Billion Revenue by 2029

22.08.2025
Nigerian Aviation Handling Company Plc has set a five-year revenue target of N300bn as part of its plan to expand operations and diversify its business portfolio. The group, a provider of aviation ground handling and logistics services in Nigeria and West Africa, aims to grow its turnover from N53.54bn in 2024 to N300bn by 2029...
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Political Interference Cripples Nigeria’s Refineries – PENGA

22.08.2025
The Petroleum and Natural Gas Senior Staff Association of Nigeria has reiterated that Nigeria’s moribund refineries can only function optimally if the Federal Government ends political interference in the state-owned assets. The union argued that years of political interference had crippled refinery operations, stressing that the only solution is for the government to divest and...
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Lagos Drives 24% of SAA Cargo’s Business Growth

22.08.2025
Lagos now accounts for approximately 24 per cent of South African Airways Cargo’s global load factor, making Nigeria a crucial part of the airline’s international freight network. Speaking at the SAA Cargo Customer Engagement Forum held in Lagos on Wednesday, the Manager of SAA Cargo Worldwide, Mr Kekeletso Mokwena, expressed the management’s gratitude to the...
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Enugu Threatens Sanction Over MainPower Tariff Breach

22.08.2025
The Enugu State Electricity Regulatory Commission has accused Mainpower Electricity Distribution Company Limited of violating its tariff order. In a public notice, the commission stated that it has come to its attention that Mainpower Electricity Distribution Company Limited has reverted to charging its Band A customers N209.50/kWh as against the commission’s order of 160.40/kWh. The...
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Customs Seize Exotic Cars, Rice Worth N1.4bn in Smuggling Cr

22.08.2025
The Nigeria Customs Service, Ogun 1 Area Command, has seized contraband worth N1,401,531,923.95 in a bid to combat smuggling and protect the nation’s economy and security. The seized items include three exotic cars, 4424 bags of foreign parboiled rice, 1936 parcels of cannabis sativa, and 105 used tyres. The Ogun 1 Area Command Controller, Comptroller...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
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Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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