By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns over the growing participation of foreign nationals, particularly Chinese traders, in Nigeria’s retail and distributive trade sector. The organisation warned that the trend could intensify pressure on Nigerian-owned businesses and jobs if existing regulations governing foreign participation in the retail…
By Seun Ibiyemi The All Progressives Congress (APC) Presidential Campaign Council has called on the African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, to withdraw from the 2027 presidential race following revelations surrounding a $500,000 payment made to his former wife during negotiations over the disputed Mambilla Hydroelectric Power Project. The demand was contained in…
By Seun Ibiyemi The Manufacturers Association of Nigeria (MAN) has said the moderation of Nigeria’s headline inflation to 15.39 per cent in August has yet to translate into lower production costs for manufacturers. The association said although the decline from 15.43 per cent recorded in July was a positive development, the marginal 0.04 percentage-point reduction…
By Seun Ibiyemi Industries and commercial businesses operating within the Idu Industrial Zone in Abuja are set to receive 24-hour electricity supply following the commencement of a 50-megawatt electrification project. The project is a partnership between Welbeck Electricity Distribution Limited, Abuja Electricity Distribution Company (AEDC) and Shell Gas Limited, aimed at providing reliable electricity to…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is targeting up to $10 billion in additional investment in Nigeria’s gas sector through the Midstream and Downstream Gas Infrastructure Fund (MDGIF). The NMDPRA Chief Executive Officer, Rabiu Abdullahi Umar, disclosed this on Wednesday during a panel session at the 2026 Gastech Conference in Bangkok, Thailand….
By David Oluwatosin The Minister of Interior, Olubunmi Tunji-Ojo, has ordered the immediate suspension of the Niger State Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Suberu Aniviye, following the deaths of suspected illegal miners in custody. The minister also directed a full investigation into the circumstances surrounding the deaths, which reportedly occurred…
By Seun Ibiyemi The Economic and Financial Crimes Commission (EFCC) has urged Point of Sale (PoS) operators across Nigeria to strengthen transaction records and internal controls to prevent their platforms from being exploited for money laundering, fraud, terrorist financing and ransom payments. The EFCC Chairman, Ola Olukoyede, gave the warning on Wednesday, September 16, 2026,…
Nigeria’s distributable revenue fell sharply in August, as gross statutory collections dropped by N1.508 trillion compared with the previous month, reducing the amount available for sharing among the Federal Government, states and local governments. The Federation Account Allocation Committee (FAAC), at its meeting in Abuja, approved a total of N2.338 trillion for distribution to the…
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said Nigeria could have faced a severe economic crisis if the petrol subsidy regime had continued. Lokpobiri said the subsidy placed an enormous financial burden on the Federal Government while providing limited benefits to the majority of Nigerians. The minister spoke at the…
By Seun Ibiyemi The Nigerian Ports Economic Regulatory Agency (NPERA) has expressed readiness to partner the Aromire-Eko Empowerment Foundation on programmes focused on youth empowerment, skills acquisition, training and job creation. The Director-General/Chief Executive Officer of NPERA, Dr Akutah Pius, MON, disclosed this when officials of the foundation, led by its Head, Prince Sijuade Ojora,…
