BUSINESS
Nigeria To Pay More For Petrol Subsidy As Oil Prices Hit Two Month High
Oil prices continued their surge yesterday, hitting a two-month high amid projections that lack of production capacity and limited investment in the sector could lift crude between $90 and $100 a barrel this year. Specifically, tight supply and easing concerns about the potential hit to demand from the Omicron combined to jack up prices as Brent sold for $85.04 a...
Dangote Refinery Slashes Petrol Price, Sets September 15 For Direct Distribution Initiative [See Prices]
In a move aimed at reducing the cost of fuel for Nigerians, Dangote Refinery has announced a nationwide reduction in its Premium Motor Spirit (PMS) retail price. The company also confirmed that its much-anticipated direct petrol distribution initiative will officially commence on Monday, September 15, 2025. According to a fresh price template shared on the Dangote Group’s official X account,...
Cable TV: Reps Move To Break Monopoly, Make Pay-Per-View Compulsory
The Deputy Chairman of the Committee on Communication, House of Representatives, Unyime Idem, has said Nigerians will soon be enjoying pay-per-view bouquets. Idem, who is representing Ukanafun/Orukanam Federal Constituency in Akwa Ibom State, is chairman of the ad hoc committee set up by the House of Representatives to investigate tariff increment by cable/satellite television service providers in Nigeria. The House had...
Fake News: No Plans To Convert $30bn Domiciliary Deposits To Naira – CBN
The Central Bank of Nigeria (CBN) has denied planning to convert $30bn domiciliary deposits to naira. There had been reports that in a bid to rescue the naira, the Federal Government and the CBN were considering converting domiciliary accounts to naira. But the CBN debunked these ‘fake news’ on its official X page. Details shortly…
2023: North Determines Next President, Will Be Asked To Vote Atiku – Primate Ayodele
Primate Elijah Ayodele of the INRI Evangelical Spiritual Church has made another revelation regarding the 2023 presidential election. He stated that the Peoples Democratic Party, PDP, presidential candidate Atiku Abubakar, would be asked to vote in the North. Primate Ayodele revealed in a statement signed by his media aide, Osho Oluwatosin, that the 2023 election will be based on ethnicity and...
Trade Ministry, SMEDAN Plan MSMEs Academy
The Federal Government, through the Federal Ministry of Industry, Trade and Investment has begun talks with the United Nations Industrial Development Organisation to set up a formal academy to train and equip small business operators with the requisite knowledge to help their day-to-day activities and deepen their contributions to the country’s economic growth. The Ministry, the Small and Medium Enterprises...
Katsina Introduces New Road Tax, Hikes Haulage Fee
The Katsina State Government says it has commenced the implementation of a new order titled ‘Interstate Road Tax Sticker (ISRTS) and Single Haulage Fee (SHF) Order 1. The Chief Press Secretary to Governor Dikko Radda, Malam Ibrahim Kaula, said in a statement that the move, effective from December 22, was an exercise of the powers vested on the governor by...
FEC Approves Reopening Of 4 Land Borders
President Muhammadu Buhari has approved the reopening of four land borders with immediate effect, while others will be reopened subsequently. The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this to State House Correspondents after the week’s virtual Federal Executive Council (FEC) meeting, held in the Council Chambers Aso Rock Presidential Villa, Abuja. According to Ahmed, the borders...
Don’t Shut Down Cryptocurrency Business, Atiku Appeals To Buhari
Former vice-president Atiku Abubakar has urged the Buhari administration not to shut down cryptocurrency business, as announced by the Central Bank of Nigeria on Friday. In a statement signed by him on Saturday, Atiku urged government to regulate the sector rather than embarking on an outright shutdown. “This is definitely the wrong time to introduce policies that will restrict the inflow...
VAT Revenue Increased By 37% To N4.12trn In H1’25
Revenue generated through Value Added Tax (VAT) rose by 37.7 percent year-on-year to N4.12 trillion in the first half of 2025 (H1’25), up from N2.99 trillion in H1’24, according to the National Bureau of Statistics (NBS). The figure, contained in the Q2’25 VAT report released in Abuja, also showed a marginal quarter-on-quarter decline of 0.03 percent from the N2.06 trillion...
