By Seun Ibiyemi The Nigeria Customs Service (NCS), Apapa Area Command, has recorded its highest-ever single-day revenue collection of N28.1 billion, surpassing its previous record of N20.1 billion achieved in September 2025. The Command generated N28,102,000,914.61 on Tuesday, August 18, 2026, according to a statement issued on Wednesday by its Public Relations Officer, Chief Superintendent…
By Seun Ibiyemi Operatives of the Anti-Robbery Team of the Ogun State Police Command have arrested two suspected members of an armed robbery syndicate allegedly involved in robbery, carjacking and unlawful possession of firearms. The suspects, identified as 46-year-old Adeyinka Onakomaya and 48-year-old Olayiwola Kehinde, were arrested during a follow-up operation linked to the recovery…
The Nigeria Labour Congress (NLC) has urged the Federal Government to urgently resolve the lingering salary dispute with the Joint Health Sector Unions (JOHESU), warning that failure to revive negotiations could trigger another industrial crisis in the health sector. The NLC made the call in a letter dated August 6, 2026, addressed to the Minister…
The Federal Competition and Consumer Protection Commission (FCCPC) has commenced an investigation into the sharp increase in cement prices in Nigeria, amid concerns that possible anti-competitive practices may be contributing to the surge. The Commission disclosed this in a preliminary 40-page report prepared by its Anticompetitive Practices Department following widespread complaints over rising cement prices…
By Seun Ibiyemi The Federal Government, 36 states and 774 local government councils shared N3.007 trillion in revenue generated in July, following a 17.8 per cent increase in gross statutory collections. The Federation Account Allocation Committee (FAAC) approved the allocation at its August meeting held in Owerri, Imo State, amid efforts to strengthen revenue mobilisation…
By Seun Ibiyemi Dangote Petroleum Refinery and Petrochemicals is moving to deepen Nigerian and African ownership of the multibillion-dollar refinery as it prepares for a proposed initial public offering (IPO) on the domestic capital market. The refinery’s financial advisers, Marob Strategies and Consulting DIFC Ltd and Lilium Capital Group, announced on Tuesday that the company…
By Seun Ibiyemi The Nigeria Ports Economic Regulatory Agency (NPERA) has formally commenced operations as Nigeria’s statutory economic regulator for the ports sector, with a mandate to promote fair tariffs, faster cargo clearance, increased competition and a more predictable business environment. The agency’s commencement follows President Bola Ahmed Tinubu’s assent to the Nigeria Ports Economic…
A shift is taking place in the global economy. For much of the past decade, discussions about artificial intelligence centered on algorithms, semiconductors, GPUs, and data. In 2026, another factor has moved decisively to the centre of the conversation, electricity. Al companies are discovering that billions of dollars of GPUs are of limited value if…
By Seun Ibiyemi The Bank of Industry Limited (BOI) has commended President Bola Ahmed Tinubu for his support following the oversubscription of its N250 billion Series 1 Fixed Rate Bond within five working days. The bond was issued through BOI Financing SPV Plc under the bank’s $1 billion Multi-Currency Instruments Programme. BOI Chief Executive Officer,…
By Seun Ibiyemi The United States Coast Guard (USCG) has lifted the Condition of Entry (CoE) imposed on vessels arriving in the United States from Nigeria, ending a 12-year regime of enhanced security requirements for ships calling at Nigerian ports. The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, announced the development, describing it…
