Nigerian President Bola Tinubu has directed that treason charges be dropped against all minors detained during anti-government protests in August, Information Minister Mohammed Idris said on Monday. At least 76 people, including 30 minors, were charged with treason and inciting a military coup after they took part in deadly August protests against economic hardship. The…
Commodity prices in Nigeria and other parts of the world are set to tumble to a five-year low next year amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, according to the World Bank’s latest Commodity Markets Outlook….
British Foreign Secretary David Lammy, expected in Nigeria today (November 3rd) has said his mission is to foster economic growth between the two countries. His visit to Nigeria will mark his first trip to the African continent as Foreign Secretary. Committing to a fresh approach to Africa that works productively from Morocco to Madagascar, the…
Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said the proposed amendment to value-added tax (VAT) distribution will create a fair system. In response to the recent rejection of the proposed tax amendment bill by the Northern States Governors Forum (NSGF), Oyedele said the current model for distributing VAT affects many…
Oil marketers have accused Dangote Refinery of fixing a product price regime that is the highest when compared with other sources. Acting under the aegis of Independent Petroleum Marketers Association of Nigeria (IPMAN), they said it is more expensive to buy premium motor spirit (PMS) or petrol from the Dangote Petroleum Refinery than from other…
A trade group, the Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government to always engage with players in the various sectors of the economy in formulating policies that will support the country’s industrialisation drive. Speaking at the inaugural industrial symposium of the LCCI held in Lagos, with the theme ‘Industries as…
Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake has reaffirmed President Bola Tinubu’s commitment to repositioning the mining sector towards becoming a significant revenue earner for the country. A statement endorsed by the Minister’s Special Assistant on Media, Segun Tomori said the minister gave the president’s commitment while addressing Course 33 participants of the…
The Federal Government has allocated in excess of $75 million for the advancement of Compressed Natural Gas (CNG) infrastructure to foster cleaner and more sustainable energy across the nation. The Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, made the announcement at the 18th OTL Africa Downstream Energy Week in Lagos. The theme…
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has put the country’s daily petrol consumption at between 45 million litres to 50 million litres. Its Chief Executive Officer, Mr Farouk Ahmed, disclosed this while speaking on the sideline of the ongoing 18th Africa Downstream Energy Week in Lagos. The 2024 OTL Africa Downstream Energy…
