By Seun Ibiyemi The Senate has threatened to invoke its constitutional powers against the Central Bank of Nigeria (CBN), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Niger Delta Development Commission (NDDC) and other defaulting agencies after they failed to appear before the Senate Public Accounts Committee investigating billions of naira in oil and gas…
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has warned that Nigeria’s persistently high interest rate environment is worsening a financing crisis estimated at more than ₦50 trillion, making it increasingly difficult for manufacturers, farmers, agribusinesses and small businesses to access the long-term credit needed for expansion and job creation. In…
By Seun Ibiyemi The Federal Competition and Consumer Protection Commission (FCCPC) has warned that Nigeria’s emerging state electricity markets could create uncertainty for investors if they operate under different regulatory standards, urging federal and state regulators to adopt a harmonised consumer protection framework. Speaking on Thursday at a stakeholders’ engagement on consumer protection and regulatory…
By Seun Ibiyemi The Nigerian Communications Commission (NCC) and the Rural Electrification Agency (REA) have signed a Memorandum of Understanding (MoU) to accelerate the deployment of sustainable digital infrastructure by integrating renewable energy solutions with telecommunications infrastructure across Nigeria. The partnership was formalised during the NCC–REA Stakeholder Workshop held at the NCC Annex Office Auditorium…
By Seun Ibiyemi Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has questioned the Federal Government’s continued borrowing despite what he described as an estimated ₦7.98 trillion windfall from higher-than-budgeted international crude oil prices. In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku accused the…
The Centre for the Promotion of Private Enterprise (CPPE) has said Nigeria is unlikely to suffer significant economic consequences from the United States’ decision to impose a 12.5 per cent tariff on imports from the country, arguing that the nation’s key exports remain largely unaffected. In a policy brief released on Sunday, the Chief Executive…
The United States has imposed a 12.5 per cent tariff on imports from Nigeria under a new trade policy targeting countries it says have failed to prohibit the importation of goods produced with forced labour. The measure, announced by the Office of the United States Trade Representative (USTR), affects imports from 60 economies that Washington…
By Seun Ibiyemi The Senate has summoned the Central Bank of Nigeria (CBN), the Nigerian National Petroleum Company (NNPC) Limited, the Nigerian Ports Authority (NPA), the Nigerian Maritime Administration and Safety Agency (NIMASA) and 43 other ministries, departments and agencies (MDAs) over alleged failures to remit revenues due to the Federation Account. The upper legislative…
The Secretary to the Government of the Federation (SGF), Senator George Akume, has defended the reform agenda of President Bola Tinubu, saying the administration’s policies are designed to secure Nigeria’s long-term economic stability and sustainable development despite the short-term hardships they may impose. Akume, represented by his Senior Assistant (Technical), Prof. Babatunde Bolaji Benard, stated…
The Federal Competition and Consumer Protection Commission (FCCPC) has resumed the implementation and enforcement of the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025 (DEON), following a Federal High Court judgment affirming the legality of the framework. The commission disclosed the development in a statement issued on Monday, noting that the court ruling had…
