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MAN laments sharp decline of bank credit to manufacturing

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Business

FG eyes 30% GDP via raw material value-added bill

The Federal Government is targeting a 17 per cent year-on-year growth in real output, aiming to raise real Gross Domestic Product to ₦23.2 trillion through a new bill that mandates 30 per cent value addition to raw materials before export. Speaking on phone, the Director-General and CEO of the Raw Materials Research and Development Council, […]

News

FG targets 8,500MW power supply in 18 months

The Federal Government has set an ambitious goal to boost the nation’s electricity supply from around 5,500 megawatts to 8,500 megawatts within the next 12 to 18 months, as part of broader efforts to stabilise and expand Nigeria’s power infrastructure. Director-General of the Bureau of Public Enterprises, Ayodeji Gbeleyi, announced the target on Wednesday in […]

Business

FG unveils locally-made machines to cut housing costs

The Federal Ministry of Housing and Urban Development has unveiled a set of locally-developed machines aimed at reducing housing construction costs and enhancing local innovation in Nigeria’s building sector. The initiative, led by the Director and Head of Department of Federal Public Assets Maintenance, Ibechile Egwudale, was presented in Abuja with the Minister of Housing, […]

Business

NDPHC to restart Alaoji power plant in August 2025

SoThe Niger Delta Power Holding Company has announced plans to resume operations at the Alaoji Power Plant by August 2025, nearly two years after it went offline. The move is part of a broader strategy to revive dormant power generation assets and boost electricity supply to the national grid. Managing Director of NDPHC, Jennifer Adighije, […]

Business

FG grants 448 oil sector expat slots amid local content drive

The Nigerian Content Development and Monitoring Board approved 448 expatriate quota requests for foreign professionals in the oil and gas sector during the first half of 2025, signaling a continued reliance on foreign expertise even as the federal government intensifies efforts to boost local participation. In the official data, the NCDMB granted 246 EQ slots […]

Business

BRICS alliance to unlocks opportunities for Nigerian innovators — NBTI DG

Nigeria’s recent entry into the BRICS alliance is creating new global pathways for local innovators, according to the Director-General of the National Board for Technology Incubation, Kazeem Raji. Speaking on Wednesday at the National Showcase: NextGen Innovation Challenge 2025 in Abuja, Raji said the country’s engagement with BRICS — a bloc representing Brazil, Russia, India, […]

Business

FG urges US to reconsider ‘unfair’ visa restrictions on Nigerians

The federal government has condemned the United States’ recent decision to tighten visa restrictions on Nigerian citizens, labeling it “unfair and disproportionate.” In a statement on Wednesday, Ministry of Foreign Affairs spokesperson Kimiebi Ebienfa said the government was observing the development with “concern and keen interest,” particularly given the historically friendly relations between the two […]

FG begins compensation for demolished properties along Lagos-Calabar coastal highway
News

Nigeria secures $747m loan for Lagos-Calabar coastal project

Nigeria has obtained a $747 million syndicated loan to support the construction of Phase 1, Section 1 of the Lagos-Calabar Coastal Highway. In a statement on Wednesday, the Director of Information and Public Relations at the Ministry of Finance, Mohammed Manga, said the loan will finance the 47.47-kilometre segment between Victoria Island and Eleko Village […]

FG to reveal outcome of Binance probe soon - NSA
News

FG unveils strategic initiatives to boost cybersecurity infrastructure

The Federal Government has announced plans to strengthen Nigeria’s cybersecurity infrastructure in response to escalating digital threats, unveiling a set of strategic initiatives designed to enhance resilience across the nation’s digital landscape. National Security Adviser, Malam Nuhu Ribadu, disclosed this at the inaugural National Cybersecurity Conference in Abuja. He noted that cybersecurity has become a […]

Business

Oil firms must verify local content payments – FG

The Federal Government now requires upstream oil and gas operators to secure compliance certificates verifying their one per cent contributions to the Nigerian Content Development Fund. This follows the introduction of the Nigerian Content Compliance Certificate System by the Nigerian Content Development and Monitoring Board, designed to enforce remittance compliance with Nigerian Content regulations. The […]

News

FG combats energy poverty with nation compact initiative

The Federal Government has pledged to address energy poverty through a high-level stakeholder forum focused on implementing the National Energy Compact under the Mission 300 initiative. Set for July 8, 2025, the forum will be convened by the Federal Ministries of Power and Finance in collaboration with Sustainable Energy for All, marking a significant step […]

FCTA shuts FIRS, Access Bank Abuja offices over rent debt
News

Nigeria, Netherlands begin talks to update outdated double taxation treaty

The Federal Inland Revenue Service has officially begun renegotiating its Double Taxation Agreement with the Kingdom of the Netherlands. This marks the first such engagement since President Bola Ahmed Tinubu signed Nigeria’s landmark Tax Reform Bills into law on June 26, 2025. According to an FIRS statement, the opening session of the talks took place […]

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