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Business

Women entrepreneurs key to Nigeria’s $1trn economy goal — FG

The Federal Government has stated that empowering women-led enterprises is essential to achieving Nigeria’s one trillion-dollar economy target and enhancing the country’s competitiveness under the African Continental Free Trade Area. Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, made this known at a high-level colloquium organised by the ministry on Friday in Abuja. Oduwole […]

Technology

FG intensifies push to commercialise university research outputs nationwide

The Federal Government is intensifying efforts to transform scientific research from Nigeria’s universities, polytechnics, and research institutes into tangible products, startups, and industries capable of generating jobs and stimulating economic growth. There is increasing worry in government quarters that numerous innovations created in Nigerian laboratories fail to progress beyond academic papers or research reports. Authorities […]

Business

FG introduces system to track visa overstayers

The Federal Government says it now has the capacity to track visa overstayers in Nigeria through a new technology-driven monitoring system. The Minister of Interior, Olubunmi Tunji-Ojo, disclosed this on the first day of the Ministry of Interior’s 2026 Sectoral Retreat held in Abuja. According to him, the system—known as the Integrated Operation Centre, enables […]

Eni gets approval to sell Nigerian Agip Oil to Oando
Business

FG reaches settlement with Eni over OPL 245 dispute

The Federal Government announced on Thursday that Nigeria has reached a settlement with Eni and Nigerian Agip Exploration Limited, resolving the long-standing dispute over Oil Prospecting Licence 245. This was disclosed in a statement by presidential spokesman Bayo Onanuga, following a meeting at the Presidential Villa in Abuja attended by Eni CEO Claudio Descalzi and […]

Umahi threatens MTN over Enugu-Onitsha road, orders N15bn monthly payment
Business

FG okays demolition, reconstruction of Lagos’ Carter bridge

The Federal Executive Council has given the green light for the demolition and rebuilding of Lagos’ Carter Bridge. Minister of Works, David Umahi, announced the approval on Wednesday while briefing journalists at the State House in Abuja following an FEC meeting chaired by President Bola Tinubu. Umahi added that the council also sanctioned N5.6 billion […]

Electricity

FG, GIZ strengthen regulations for solar mini-grids nationwide

The Federal Government is intensifying efforts to regulate and sanitise Nigeria’s rapidly expanding renewable energy sector. On Wednesday, the Deutsche Gesellschaft für Internationale Zusammenarbeit reinforced its technical partnership with the Nigerian Electricity Management Services Agency to enforce stricter regulatory standards for solar mini-grids and other clean energy systems. The German Development Cooperation, executed by GIZ […]

Policy and Regulations

ICYMI: FG bans cash tax collection, roadblocks nationwide

The Federal Government on Tuesday formally prohibited cash collection of taxes and banned the mounting of roadblocks for revenue enforcement. This forms part of fresh regulations to implement Nigeria’s new tax laws nationwide. The disclosure was made in Abuja by the Executive Secretary of the Joint Revenue Board, Mr Olusegun Adesokan, during the signing of […]

FAAC funds to FG, states hit 7-year high in 2023
Oil and Gas

FG begins direct oil revenue remittance to FAAC

The Federal Government has begun implementing Executive Order 9 of 2026, requiring the direct remittance of oil revenues to the Federation Account Allocation Committee. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced this in a statement released on Monday. He outlined the main decisions from the recent meeting. The action […]

Business

FG begins enforcement of executive order 9 on oil revenues

The Federal Government has begun implementing Executive Order 9 of 2026, which requires the direct remittance of oil revenues into the Federation Account Allocation Committee This follows the inaugural meeting of the executive order’s implementation committee on February 26, 2026. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this in […]

Business

FG divides OPL 245 into four assets for Eni, Shell

The Federal Government has divided the controversial OPL 245 oil block into four separate assets to be operated by Eni and Shell, a move that could clear the path for development of the long-disputed field. A source familiar with the development said the restructuring may finally determine the future of the asset, which has been […]

Over 160,000 benefited from Tinubu's transport subsidy - Alake
News

FG, AFC sign $1.3bn deal for alumina refinery

The Federal Government and the African Finance Corporation have signed a landmark Memorandum of Understanding to jointly fund three strategic projects in Nigeria’s mining sector. These projects include a $1.3 billion alumina refinery, a nationwide geoscience mapping initiative, and a special investment vehicle designed to unlock the country’s mineral potential. The agreement was signed in […]

Business

FG, AFC sign deal to fund $1.3bn mining projects

The African Finance Corporation and the Federal Government, acting through the Solid Minerals Development Fund, have signed an investment agreement to co-finance three key projects: a $1.3 billion alumina refinery, a nationwide geoscience mapping programme, and a dedicated investment vehicle aimed at unlocking Nigeria’s mineral resources. The agreement, signed in Abuja, concludes months of negotiations […]

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