By Seun Ibiyemi The Oyo/Osun Area Command of the Nigeria Customs Service (NCS) has announced the seizure of contraband goods with a Duty Paid Value (DPV) of N3.22 billion and the generation of N28.5 billion in revenue between March and May 2026. Speaking during a press briefing in Ibadan on Wednesday, the Acting Customs Area…
…Reaffirms VAT waiver on PMS By Seun Ibiyemi The Federal Government of Nigeria has dismissed reports suggesting plans to introduce new taxes on telecommunications services and petroleum products, describing the claims as false and inconsistent with the current policy direction of the administration. In a statement issued by the Press Secretary to the Minister of…
By Seun Ibiyemi The Federation Account Allocation Committee (FAAC) has shared a total of N2.3 trillion among the Federal Government, state governments and local government councils as revenue allocation for May 2026. The disclosure was made by Bawa Mokwa, Director of Press and Public Relations in the Office of the Auditor-General of the Federation, in…
By Seun Ibiyemi The NNPC Limited has renewed its partnership with TotalEnergies to extend the deployment of the Airborne Ultralight Spectrometer for Environmental Applications (AUSEA) technology for methane detection, measurement, and reduction across its upstream operations for another 24 months. The agreement is aimed at supporting NNPC Ltd’s efforts to meet its gas flare reduction…
By Seun Ibiyemi The naira recorded a mixed performance in today’s foreign exchange trading sessions, as market forces continued to reflect persistent demand for the U.S. dollar alongside ongoing liquidity conditions in Nigeria’s FX market. In the official market, the naira traded within a relatively stable range for most of the session, with traders attributing…
By Seun Ibiyemi The Nigerian equities market closed in the red on Wednesday, extending its bearish run to four consecutive trading sessions as investors lost N758 billion amid sustained profit-taking across major stocks. Market capitalisation declined by N758 billion, or 0.49 per cent, to close at N154.445 trillion, down from N155.203 trillion recorded on Tuesday….
By Seun Ibiyemi Nigeria’s leading airline, Air Peace, has announced an expansion of its domestic operations for the Summer 2026 season, increasing flight frequencies and seat capacity across major routes to meet growing passenger demand. The airline said the enhanced schedule, which takes effect from June 22, is aimed at improving connectivity, offering greater travel…
By Seun Ibiyemi The Nigeria Customs Service (NCS) and the American Business Council (ABC) have strengthened their collaboration aimed at improving trade relations and addressing business challenges through sustained engagement between public and private sector stakeholders. The commitment was made during a quarterly meeting held at the NCS Headquarters in Abuja, where both sides discussed…
The Inspector-General of Police (IGP), Kayode Egbetokun, has urged frontline police officers across the country to adopt a more offensive approach in combating insecurity, stressing that proactive operations against criminal elements would help deter bandits and other violent offenders. The IGP gave the charge on Wednesday during an interactive session with officers and men of…
The Economic Community of West African States (ECOWAS) has set a target of increasing the share of renewable energy in the region’s electricity mix to 48 per cent by 2030 as part of efforts to achieve universal access to affordable, reliable and sustainable electricity across West Africa. The commitment was reaffirmed by the Director of…
