…warns against abandoned projects By David Oluwatosin The Senate has extended the implementation period for the capital component of the 2025 Appropriations Act from September 30 to December 31, 2026, giving Ministries, Departments and Agencies (MDAs) an additional three months to complete eligible projects. The extension was approved on Tuesday following the passage of the…
…pledges tougher revenue integrity, faster cargo clearance …Apapa recorded N323bn monthly collection in July, N28.1bn single-day haul in August By Seun Ibiyemi The Apapa Area Command of the Nigeria Customs Service (NCS) has welcomed Comptroller Murtala Mu’azu as its 33rd Customs Area Controller (CAC), with the new Controller pledging to sustain the Command’s revenue growth,…
…Revenue falls 24% to N34.5trn despite stronger earnings …EBITDA rises 22% to N18trn, dividend increases 35% to N5.8trn …Targets 2mbpd oil output by 2027, 3mbpd by 2030 By Seun Ibiyemi The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a 33 per cent increase in profit after tax (PAT) to N7.2 trillion for the…
…APM candidate says campaign spending, pollsters won’t determine election …Unveils four-year ‘Reset Nigeria’ agenda in Lafia By Seun Ibiyemi The presidential candidate of the Allied Peoples Movement (APM), Seyi Makinde, has said the outcome of the 2027 presidential election will be determined by Nigerian voters rather than the financial strength of candidates, campaign spending or…
The Rivers State House of Assembly has unanimously endorsed the constitutional amendment seeking to establish State Police Services in Nigeria, becoming one of the state legislatures to back the proposed decentralised policing system. All 25 lawmakers present at Monday’s plenary voted in favour of the Constitution of the Federal Republic of Nigeria, 1999 (Sixth Alteration)…
By Seun Ibiyemi The naira weakened across both the parallel and Nigerian Foreign Exchange Market (NFEM) segments on Monday, while foreign exchange market turnover recorded a sharp decline. In the parallel market, the naira depreciated to N1,382 per dollar from N1,378 recorded last weekend. Similarly, the currency weakened in the NFEM, with the indicative exchange…
By Seun Ibiyemi Guaranty Trust Holding Company Plc (GTCO) recorded N603.03 billion profit before tax (PBT) in the first half of 2026, representing a marginal 0.35 per cent increase from the N600.90 billion reported in the corresponding period of 2025. The group’s unaudited financial statements showed that gross earnings increased 3.25 per cent to N1.11…
By David Oluwatosin The National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, has warned that any attempt to restore the fuel subsidy regime could reduce funds available for infrastructure and development programmes in Northern Nigeria. Yilwatda made the assertion on Monday in Abuja while receiving former candidates of the African Democratic Congress…
By David Oluwatosin President Bola Tinubu has disclosed that the National Credit Guarantee Company (NCGC) facilitated N46.95 billion in loans for 67,512 Nigerians and businesses within its first year of operation. Tinubu, who disclosed this on Monday through his verified X handle, said the loans were backed by N21.59 billion in guarantees issued by the…
By Seun Ibiyemi African Democratic Congress presidential candidate, Atiku Abubakar, has urged the Federal Government to account for Nigeria’s existing public debt before proceeding with proposed $1.5 billion World Bank financing. Atiku made the demand in a statement issued on Monday by his Director of Strategic Communications, Phrank Shaibu, following reports that the Federal Government…
