The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is targeting between 300,000 and 600,000 barrels per day (bpd) in additional crude oil production from successive licensing rounds as it seeks to lift Nigeria’s output to three million bpd by 2030. The commission’s Chief Executive Officer, Oritsemeyiwa Eyesan, disclosed this in a recent interview with S&P Global,…
By Seun Ibiyemi Dangote Petroleum Refinery and Petrochemicals is targeting 10 million retail investors for its N2.15tn initial public offering, a figure transaction advisers said would be about 20 times Nigeria’s current retail participation record. The offer comprises 4.1 billion ordinary shares of $0.000013 each at N525 per share. It will open on September 14…
By Seun Ibiyemi The Federal Government has directed ministers, permanent secretaries, heads of ministries, departments and agencies, and other government appointees to obtain prior approval from the Office of the Secretary to the Government of the Federation before embarking on official foreign trips. The directive, issued by the Secretary to the Government of the Federation,…
By Seun Ibiyemi The Nigeria Independent System Operator (NISO) has announced plans to sanction electricity distribution companies (DisCos) over outstanding obligations owed to the Nigerian electricity market and service providers. The decision followed a four-day public hearing held from September 1 to 4, 2026, during which NISO reviewed the outstanding debts of DisCos and the…
The Debt Management Office (DMO) has opened the September 2026 Federal Government of Nigeria Savings Bond offer, with interest rates of 14.12 per cent and 15.12 per cent on the two-year and three-year instruments, respectively. According to a notice issued by the DMO, the two-year FGN Savings Bond, which is due on September 16, 2028,…
The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) has arraigned Osaretin Osagiede before the Lagos State High Court sitting in Ikeja over an alleged N700 million fraud. Osagiede was arraigned on Friday, September 4, 2026, before Justice Olukayode Ogunjobi on a three-count charge bordering on unauthorised access to computer material…
By Seun Ibiyemi The Nigerian National Petroleum Company Limited (NNPC Ltd.) has denied ownership of a truck reportedly intercepted with 2,145 kilogrammes of cannabis concealed in a compartment in Ondo State. In a statement issued on Monday, the company commended the National Drug Law Enforcement Agency (NDLEA) for its vigilance and professionalism in intercepting the…
By Seun ibiyemi Dr Taiwo Afolabi has called for increased investment, collaboration and professionalisation of Nigeria’s creative industry, urging stakeholders to transform African indigenous knowledge into a sustainable source of innovation, economic value and opportunities for future generations. Afolabi made the call at the 39th International Conference and 40th Annual General Meeting of the Society…
A United States-based political advisory and lobbying firm, Von Batten-Montague-York, has indicated plans to present video evidence in an ongoing US court dispute involving Federal Bureau of Investigation (FBI) and Drug Enforcement Administration (DEA) records linked to allegations concerning President Bola Tinubu. The firm disclosed this in a post on its verified X account on…
By Seun Ibiyemi The Federal Competition and Consumer Protection Commission (FCCPC) has launched an investigation into Uber’s abrupt withdrawal from the Nigerian market, focusing on how the ride-hailing company handled its outstanding obligations to customers. The FCCPC Chief Executive Officer, Tunji Bello, disclosed this in an interview with Bloomberg on Sunday, saying the commission was…
