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Cash outside banks drop to ₦4.92trn, lowest in months

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United Capital posts ₦24.8bn pre-tax profit in H1 2026

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Tag: FG

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

FG to cancel over 1,000 dormant mining licences

The Minister of Solid Minerals Development, Dr. Dele Alake, has revealed plans to cancel over 1,000 dormant mining licences nationwide. This initiative is part of the Federal Government’s effort to streamline the licensing system and boost the mining and steel sector for industrial growth. In May 2024, the government had already revoked 924 inactive mining […]

Business

FG to revive all moribund steel companies nationwide

The Federal Government says it will revive all moribund steel companies nationwide, more than 20 years after a failed privatisation drive left once-thriving plants in decay. It noted that restoring both privatised and government-owned steel assets will enable them to contribute to national development as originally intended. President Bola Tinubu announced the initiative on Wednesday […]

Business

FG approves N13bn for Lagos transmission industrial project

The Federal Executive Council has approved N13 billion for compensation under the Lagos Transmission Industrial Project, as part of efforts to modernize Nigeria’s power infrastructure and boost electricity supply for industrial development. Minister of Power Adebayo Adelabu announced this on Wednesday following the FEC meeting chaired by President Bola Tinubu in Abuja. He noted that […]

NAICOM reveals over 1,500 complaints against Nigerian insurers
Insurance

FG raises insurance firms’ capital requirements by 500%

The Federal Government raised minimum capital requirements for insurance firms by 500 per cent, giving operators one year to meet the new thresholds or risk losing their licenses. The National Insurance Commission announced the directive as part of wide-ranging reforms in the newly enacted Insurance Industry Reform Act, signed by President Bola Ahmed Tinubu earlier […]

Transportation

$60bn Chinese-funded bullet train gets FG approval

The Infrastructure Concession Regulatory Commission has cleared the Outline Business Case for Nigeria’s first bullet train, a $60 billion high-speed rail project to be financed by China Liancai Petroleum Investment Holdings. The approval was announced after a meeting in Abuja on Tuesday, attended by top government officials including Secretary to the Government of the Federation […]

Aviation

FG names KWAM1 airport security ambassador after unruly behavior

The minister of aviation Festus Keyamo, says the Federal Airports Authority of Nigeria will appoint Fuji music star Wasiu Ayinde, popularly known as KWAM 1, as an ambassador for airport security protocols. In a statement on Wednesday, Keyamo said the initiative aims to enlist celebrities in promoting proper conduct at airports nationwide. “In the case […]

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FG, airlines drop charges, lift Ibom Air passenger, Kwam 1 ban

The Federal Government and airline operators have agreed to lift the lifetime flight ban on Ibom Air passenger Comfort Emmanson and reduce the suspension of Fuji star Wasiu Ayinde (KWAM 1) to one month. Aviation Minister Festus Keyamo announced the decision on Wednesday via X, saying it followed stakeholder consultations, public appeals, and expressions of […]

Business

FG earns N5.21tn from crude oil in H1

The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission, earned N5.21 trillion from crude oil, gas sales, and other related activities in the first half of 2025. This amount accounts for 42.7% of the record N12.2 trillion generated throughout the entire 2024 fiscal year. However, this figure represents only 34.7% of the N15 trillion […]

Business

FG targets 2027 completion for ₦80bn Alau Dam upgrade

The Federal Government says the ongoing ₦80 billion upgrade of the Alau Dam in Borno State is expected to be completed by 2027, aimed at expanding irrigation and enabling future hydroelectric power generation. Minister of Water Resources and Sanitation, Prof. Joseph Utsev, announced this on Thursday during a working visit to the project site in […]

Business

FG to strengthen local energy supply chain amid global disruptions

The Federal Government says it is taking decisive action to strengthen Nigeria’s local energy supply chain as a safeguard against growing global disruptions that continue to threaten cross-border energy stability. Speaking at the 2025 Nigeria Annual International Conference and Exhibition of the Society of Petroleum Engineers in Lagos, Minister of State for Petroleum Resources (Oil), […]

Only 5% have over N500,000 in their bank accounts — Wale Edun
Business

FG’s N38.3tn assets under audit, reform — Finance ministry

The Ministry of Finance Incorporated has revealed that the Federal Government’s investment assets, valued at N38.3 trillion, are currently undergoing audit and reform aimed at enhancing transparency and improving corporate governance across public enterprises. MOFI Chief Executive Officer, Dr. Armstrong Takang, disclosed this on Wednesday in Lagos during the launch of the Nigerian Communications Commission’s […]

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