News as it breaks
The Federal Ministry of Finance has refuted claims that the Federal Government has suspended the practice of allowing revenue-generating agencies to deduct their cost of collection at source, describing such reports as “inaccurate and misleading.” In a statement issued in Abuja, the ministry clarified that there has been no change…
The Bauchi State Government has announced the signing of 47 Memoranda of Understanding (MoUs) with local and international investors during the just-concluded 2025 Bauchi Economic and Investment Summit, signaling a major step toward unlocking the state’s economic potential. The summit, held under the theme “My Bauchi Project: Unlocking Investment Opportunities…
Commissioner says demolitions not targeted at any ethnic group, warns of enforcement after deadline The Lagos State Government has issued a two-week ultimatum to property developers and building owners within the Trade Fair Complex in Ojo to obtain proper building approvals and regularise their developments in line with the state’s…
The Federal Government of Nigeria lost approximately 13.5 million barrels of crude oil, valued at $3.3 billion, to oil theft and pipeline sabotage between 2023 and 2024, according to the Nigerian Extractive Industries Transparency Initiative (NEITI). The revelation was made by NEITI Executive Secretary, Dr. Ogbonnaya Orji, at the 2025…
Vice President Kashim Shettima has declared that Nigeria has officially exited its phase of economic instability, assuring both local and international investors that there has never been a more opportune time to invest in the country. Speaking at the opening ceremony of the Bauchi Investment Summit 2025 on Wednesday, October…
The National Bureau of Statistics (NBS), in partnership with UNICEF, is preparing to commence the seventh round of the Multiple Indicator Cluster Survey (MICS7)—Nigeria’s most comprehensive data-gathering exercise on women, children, and vulnerable populations. This was disclosed in an official statement released on Tuesday by Alesanmi Folorunso, Head of Communication…
President Bola Tinubu has formally requested the House of Representatives to approve a new external borrowing plan totaling $2.35 billion, aimed at financing the 2025 budget deficit and refinancing a maturing Eurobond. The request was contained in a letter addressed to Speaker Tajudeen Abbas, which was read aloud during plenary…
The Federal Airports Authority of Nigeria (FAAN) has officially launched its Go-Cashless Policy at the Nnamdi Azikiwe International Airport, Abuja, as part of a nationwide plan to phase out cash payments at all FAAN-managed airports by March 2026. The move, which aims to enhance transparency, improve user experience, and significantly…
President Bola Ahmed Tinubu has stated that the recently launched ₦200 billion intervention fund for Micro, Small, and Medium Enterprises (MSMEs) and manufacturers is designed to tackle structural barriers, boost competitiveness, and unlock Nigeria’s full productive potential. Speaking at the opening session of the 31st Nigerian Economic Summit in Abuja…
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has attributed the recent cooking gas scarcity in Nigeria to temporary loading delays caused by the strike action led by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). Ojulari made this known…
