Nigerian Finance Minister and Chair of the G-24 coalition of developing countries, Wale Edun, said multilateral institutions should do more to support vulnerable countries weather the economic shocks of the war in the Middle East. “We would like them to do more, we definitely like them to provide, particularly at this time, additional liquidity risk…
Nigeria will slash import duties on food, vehicles and industrial inputs from July 1, the Presidency said on Tuesday, as Africa’s most populous country seeks to rein in inflation and ease rising living costs. The cuts include sharp tariff reductions on rice, sugar, palm oil, passenger vehicles and construction materials, with full exemptions for electric…
The recent escalation in the US-Israel conflict with Iran has delivered a sharp reminder of Nigeria’s economic vulnerability. As oil prices surged past $100 per barrel and fuel costs climbed by 35% at Nigerian pumps, a troubling paradox emerged: Nigeria, a major crude oil producer with Africa’s largest privately-owned refinery now operational, still found itself…
By Kola Ajibola As Nigeria gradually inches toward another electoral cycle, Adamawa State is once again emerging as one of the country’s most compelling political theatres. Yet the unfolding drama in the state is not merely about the traditional rivalry between political parties. Rather, it is increasingly about the strategic choices confronting the ruling All…
The Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) to provide compensation to subscribers whose network quality of service (QoS) experience is below specified targets within specific locations. The Commission’s position is that subscribers should not be made to bear the full burden of service disruptions where operators fail to meet prescribed standards…
The Federal Government has halted the issuance of import licenses for gasoline, a major win for billionaire Aliko Dangote, who controls Africa’s largest refinery and has long called for the move. This decision is coming on the heels of data supplied by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) which stated that Dangote…
The government of Nigeria said it is taking steps to protect the economy following rising geo-political tensions in the Middle East involving the United States, Israel and Iran. The government, through, the Federal Ministry of Finance, said the government remained committed to safeguarding the economic gains recorded in recent months and will continue to take…
Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has suspended the enforcement of the $30 helicopter landing fees for oil companies operating in the country and also directed the Federal Airports Authority of Nigeria (FAAN) to implement hybrid toll payment method at airports. This decision to suspend the landing fees follows concerns raised by…
President Bola Tinubu has finally approved a targeted fiscal incentive designed to unlock the long awaited Final Investment Decision (FID) on the Bonga Southwest Aparo (BSWA) deepwater project. This presidential nod is coming after 18 years of deadlock. With the approval, the Bonga Southwest project becomes the first FID on a Nigeria deepwater Production Sharing…
