Non-member states of the Organisation of Petroleum Exporting Countries called OPEC+ opted for caution on Sunday, keeping its oil output policy unchanged after a short, tightly focused meeting that deliberately avoided the mounting political crises involving several of its members. The decision points to how the alliance is navigating one of its most complex operating…
NIGERIA has posted an overall balance of payments surplus of $4.60 billion in third quarter (Q3) of 2025, a radical shift from the deficit position in the preceding quarter according to data released by the Central Bank of Nigeria (CBN). Acting Director of Corporate Communications at the CBN, Hakama Sidi Ali (Mrs.), also announced that…
Oil markets have recorded their steepest annual fall since the COVID pandemic and could be on track to plummet further as oil producers continue to pump more crude than needed by the global economy. Oil prices slumped by almost 20per cent in 2025, marking the biggest annual loss since 2020 and the first time that…
Nigeria is ready to consolidate and deepen the Comprehensive Strategic Partnership with China in 2026, Director-General and Global Liaison of the Nigeria–China Strategic Partnership, Mr. Joseph Tegbe has assured. He noted that emphasis will continue to be placed on cooperation that directly supports Nigeria’s development priorities, including economic diversification, infrastructure delivery, human capital development, technology…
THE Nigerian Communications Commission (NCC) has warned that the widespread use of smartphones, computers and internet-based services in daily life has significantly increased exposure to risks such as phishing, online scams, malware and identity theft. It warned that cybercriminals often take advantage of human mistakes, noting that a single careless click could lead to the…
Nigeria’s ginger export industry is positioning itself for a stronger performance next year, spurred by renewed international technical support, fresh investments, and stepped-up security measures in key farming belts. The global ginger market is projected to expand from $4.41 billion to $7.50 billion by 2033, recording a compound annual growth rate of 6.08 per cent…
President Bola Tinubu has approved the cancellation of $1.42 billion and N5.57 trillion ($3.85 billion) in debts owed by state oil firm NNPC Ltd to the government, the Presidency said on Monday. The decision is part of Tinubu’s push to clean up NNPC’s books and boost transparency as Africa’s top oil producer deals with weak…
State-owned energy company of top African oil producer Nigeria, the Nigerian National Petroleum Company (NNPC) Limited plans to sell stakes in some of its oil and gas assets and has called for bids, according to an invitation document seen on Monday. NNPC owns some assets outright and others in partnership with international oil companies, including…
The Federal Inland Revenue Service (FIRS) has clarified that the National Identification Number (NIN) issued by the National Identity Management Commission (NIMC) has automatically become the Tax Identification Number (Tax ID) for individual Nigerians under the new tax framework. NIN is a unique number issued by NIMC. Data released by the National Identity Management Commission…
