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Nigeria Revokes 50+ Expired Oil Licences

The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, has refused to approve the extension of over 50 expired oil licences currently on his table. Lokpobiri stated that over 60 licences were awarded in a marginal bid round that took place a few years ago. However, he regretted that fewer than six of them have invested...
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Air Peace to Build Aircraft Maintenance Facility in Lagos |

Nigeria’s largest airline, Air Peace, has announced plans to commence the construction of a Maintenance, Repair and Overhaul facility in Lagos in September. The project, expected to be completed within 12 to 15 months, will significantly boost Nigeria’s aviation sector. Chairman of Air Peace, Allen Onyema, disclosed this on Wednesday upon his return from Brazil,...
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N13tn Financing Gap Cripples Busine

The President of the Association of Small Business Owners of Nigeria, Dr. Femi Egbesola, has warned that Nigeria’s ongoing economic reforms, though necessary, are crippling the country’s micro, small and medium enterprises, with millions of businesses already forced to shut down under rising costs and limited access to funding. Speaking at the half-year private sector...
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CAC Backs NAICOM on NIIRA 2025 Implementation

The Corporate Affairs Commission has pledged to support the National Insurance Commission as it implements the newly signed Nigeria Insurance Industry Reform Act 2025. The CAC made this pledge when the management of NAICOM, led by the Commissioner for Insurance, Olusegun Omosehin, paid a courtesy visit to the Registrar General of the body, Hussaini Magaji...
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China Donates $1M to Nigeria Flood Relief Efforts

The Federal Government’s flood relief efforts were boosted on Wednesday as the Chinese government donated $1m to support victims in the northern states. The Minister of Budget and Economic Planning, Abubakar Bagudu, signed the exchange notes on the financial support with the Chinese Ambassador to Nigeria, Yu Dunhai, in Abuja. Bagudu, in a statement on...
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Kenyon Recovers 6,000 Barrels Daily from Stranded Well in Ni

Oilfield service company Kenyon International says it has successfully restored production of over 6,000 barrels of crude oil per day from a previously inaccessible well, underscoring the growing technical capacity of indigenous firms in Nigeria’s oil and gas sector. The company’s Chief Executive Officer, Victor Ekpenyong, disclosed this at the Africa Young Professionals Workshop during...
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Axxela Earns ‘Aa-’ Credit Rating Upgrade from Agusto & Co.

LCredit rating agency, Agusto & Co., has upgraded the corporate rating of Axxela Limited from ‘A’ to ‘Aa-’ with a stable outlook. In a statement on Tuesday, the company said the upgrade also applied to Axxela Funding 1 Plc’s N11.5bn and N16.4bn bond programmes. Agusto said the decision reflected Axxela’s financial performance, moderate leverage, and...
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Eastern Ports Drive NPA’s 2025 Revenue Growth to N1.28tn

Reforms and incentives at Nigeria’s Eastern ports are reshaping the maritime landscape, with rising traffic now contributing significantly to the NPA’s projected N1.28tn revenue for 2025. The renewed push positions the ports as competitive gateways, easing congestion in Lagos and boosting Nigeria’s trade competitiveness, ANOZIE EGOLE writes For years, shipping into Nigeria meant Lagos ports...
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I apologise for saying no heaven without tithe – Adeboye

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

Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

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...