By Seun Ibiyemi Nigeria’s petrol imports surged by about 234 per cent between May and July 2026, raising fresh concerns over the future of domestic refining and the government’s efforts to reduce the country’s dependence on imported petroleum products. The Centre for the Promotion of Private Enterprise (CPPE) said average Premium Motor Spirit (PMS) imports…
The Federal Government has raised N7.62 trillion through the domestic bond market in the first eight months of 2026, highlighting its growing dependence on local borrowing to meet rising fiscal financing needs. The funds were mobilised through eight Federal Government of Nigeria bond auctions conducted by the Debt Management Office (DMO) between January and August….
By Seun Ibiyemi The Independent Media and Policy Initiative (IMPI) has warned that former Vice President Atiku Abubakar’s proposal to restore petrol subsidy could undermine investor confidence and reverse gains made from deregulating Nigeria’s downstream petroleum sector. The policy think-tank said the proposal could send a negative signal to local and international investors by suggesting…
By Seun Ibiyemi The Federal Government spent N6.47tn on strategic infrastructure development between June 2023 and December 2025, with major highway projects accounting for about N3.83tn, according to its newly released Nigeria Reform Scorecard. An analysis of the scorecard, titled “The Benefits, Costs and Harm Prevented,” showed that the Lagos-Calabar Coastal Highway received the largest…
Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has described President Bola Tinubu’s removal of the petrol subsidy in 2023 as “economic apartheid,” escalating the ongoing political debate over the policy ahead of the 2027 presidential election. Atiku made the accusation in a statement issued by his media team…
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has commended the Federal Government’s presentation of its economic reform scorecard, saying the reforms have delivered measurable macroeconomic gains but must now translate into improved productivity, jobs, incomes and living standards. In a statement signed by its Chief Executive Officer, Dr Muda Yusuf,…
Dangote Transport has taken another major step towards improving road safety with the launch of a state-of-the-art Driver Monitoring Control Room that allows drivers operating its trucks to be monitored in real time while on transit across Nigeria. The innovative facility, located at the Dangote Transport operational base in Ibese, Ogun State, was recently showcased…
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…
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…
