By Adeyemi David The Nigerian stock market reversed its bullish run on Tuesday, shedding N577 billion in market value to halt a 13-day rally amid widespread selloffs in bellwether stocks. Market capitalisation of listed equities declined by 0.48 per cent, dropping from N122.129 trillion to N121.552 trillion, while the Nigerian Exchange Limited All-Share Index fell…
Nigerian National Petroleum Company Limited has announced plans to increase gas supply by an additional 1.8 billion cubic feet per day (bcf/d) in 2026 as part of efforts to meet rising domestic demand and strengthen the country’s energy security. The company disclosed this in Abuja while hosting members of the Nigeria Guild of Editors, noting…
By Adeyemi David Chairman of the House of Representatives Ad Hoc Committee on the Review of Tax and Export Incentives, Waivers and Exemptions, James Abiodun Faleke, has disclosed that Nigeria is losing an estimated N8 trillion annually to waivers and concessions granted to organisations and individuals by the Federal Government of Nigeria. In a statement…
Former Minister of Aviation, Femi Fani-Kayode, has accused former Kaduna State governor, Nasir El-Rufai, of posing a threat to national security following recent allegations he made against the National Security Adviser, Nuhu Ribadu. Fani-Kayode’s reaction comes after El-Rufai claimed he had access to Ribadu’s private communications, alleged the importation of dangerous chemicals by the NSA’s…
By Adeyemi David The Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, on Tuesday commissioned the Abdul Samad Rabiu / Nigeria Customs Service Hospital in Bauchi, a 60-bed healthcare facility donated by industrialist Abdul Samad Rabiu, founder of BUA Group and chairman of ASR Africa. Delivered through the Abdul Samad Rabiu Africa Initiative, the hospital…
The Federal Government of Nigeria has formalized a strategic partnership with the International Energy Agency (IEA) to enhance cooperation on methane emissions reduction, gas development, clean cooking access, and technical support. The Memorandum of Understanding (MoU) was signed on Tuesday at the IEA Headquarters in Paris by Rt. Hon. Ekperikpe Ekpo, Nigeria’s Minister of State…
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has presented the Ministry’s 2025 budget performance and 2026 budget proposal to the Joint Committee of the Senate and House of Representatives on Petroleum Resources. A statement issued on Tuesday by the Head, Press and Public Relations Unit, Chris Ugwuegbulam said Lokpobiri made the presentation on…
Green Energy International Limited and Lekoil Nigeria Limited have issued a joint statement addressing recent media reports surrounding a court matter linked to a commercial dispute with a service provider, stressing that the issue remains under arbitration and has not disrupted their operations. The companies explained that the dispute concerns a contractual claim currently undergoing…
Ogun State’s Traffic Compliance and Enforcement Corps (TRACE) has confirmed that six people lost their lives while three others sustained injuries in a tragic accident at the Ilo-Awela axis of the Toll Gate area along the Lagos-Abeokuta Expressway. Ota Divisional Commander of TRACE, Mr. Salau Hammed, said the incident occurred around 9:55 a.m. on Tuesday…
By Adeyemi David The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to protecting bank customers and strengthening public trust in financial system following a stakeholder townhall meeting in Enugu. The corporation in a tweet on it X handle announced an increase in deposit insurance coverage to ₦5 million for commercial bank customers and ₦2…
