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FG reaffirms commitment to market-driven crude oil pricing

The Federal Government has reaffirmed its commitment to market-driven pricing for crude oil, rejecting price-fixing. It emphasizes adherence to international best practices, allowing transactions based on a willing-seller, willing-buyer framework. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, stated this in Abuja during a meeting with members of the Oil Producers […]

News

FG considers port automation to cut costs

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has emphasized the need for port process automation to reduce business costs in Nigeria. Speaking during a recent media chat with editors in Lagos, Oyetola noted that some port-related costs do not contribute to government revenue but instead reflect systemic inefficiencies. “If you want to be […]

News

FG bans 60,000-litre fuel tankers from roads, depots

The Federal Government has disclosed the ban of trucks carrying more than 60,000 litres of hydrocarbon products from loading at depots and using federal roads, effective March 1, 2025. It added that by the fourth quarter of 2025, the maximum load limit will be further reduced to 45,000 litres. The Executive Director of Distribution System, […]

News

Power generation reaches 5,543MW as govt unveils new plans

The Federal Government has announced plans to move most electricity consumers in Nigeria to Band A, ensuring a minimum of 20 hours of power supply daily. This comes as the Transmission Company of Nigeria reported a new peak power generation of 5,543.20 megawatts, marking a significant milestone in the nation’s power sector. This milestone was […]

Nigeria Exchange in decline two weeks in a row
News

FG lists ₦368.3bn bond, raises market offerings on NGX

The Federal Government of Nigeria has listed a ₦368.3 billion bond on the Nigerian Exchange Limited, accompanied by ₦234 billion in supplementary bond issues. This development was announced in a notice filed on the Exchange by the Head of the Issuer Regulation Department, Obioma Oge, on Tuesday. The newly listed bond, 22.60% FGN JAN 2035, […]

News

Federal roads need alternative funding for maintenance – Minister

Minister of State for Works, Muhammad Bello Goronyo, has emphasized the need for alternative funding for Nigeria’s 35,000km federal road network, as budgetary allocations remain insufficient. This comes despite the approval of N926.2 billion for road projects and N64.88 billion for maintenance in the 2025 budget. This was disclosed by Goronyo during a visit to […]

News

FG launch 40 million-dose vaccine storage facility

The Federal Government has inaugurated a solar-powered strategic vaccine storage facility in Sheda, FCT, with a 40-million-dose capacity. Built under the Livestock Productivity and Resilience Support Project with World Bank support, the facility was unveiled by Livestock Development Minister, Idi Maiha and Prof. Attahiru Jega, co-chair of the Presidential Livestock Reforms Committee. Maiha made this […]

News

FG mulls ban on 60,000-litre tankers amid rising accidents

The federal government announced on Wednesday that it is considering banning 60,000-litre petroleum trucks due to the rising number of tanker accidents, which have claimed 493 lives in less than three years. During a stakeholders’ engagement in Abuja, the government proposed limiting tankers’ carrying capacity to a maximum of 45,000 litres to reduce the frequency […]

News

Industries dump national grid for other power sources – Minister

The Minister of Power, Chief Adebayo Adelabu, emphasized the need to restore confidence in Nigeria’s central power supply as industries increasingly shift to alternative energy sources. Adelabu disclosed this in a statement during the commissioning of training equipment and simulation infrastructure for power distribution capacity development, built by the National Power Training Institute of Nigeria […]

News

FG vows to revive textile industry, ensure fair competition

The Federal Government of Nigeria has pledged to revitalize the nation’s textile industry and implement policies that ensure a level playing field for local manufacturers. The Minister of State for Industry, Senator John Enoh, made this commitment on Wednesday during a visit to Sunflag Nigeria Limited, a textile manufacturing company in Lagos, as part of […]

News

FG to reform cooperative sector for growth, cohesion – Minister

The Federal Government of Nigeria is actively pursuing reforms to revitalize the nation’s cooperative sector, aiming to bolster economic growth, enhance social cohesion, and reduce poverty. The Minister of State for Agriculture and Food Security, Senator Aliyu Abdullahi, revealed this during a technical strategy session on the Cooperative Reform Programme held in Abuja on Wednesday. […]

FG bags $2.2bn Sun Africa deal to develop power sector
News

FG allocates ₦100bn for solar mini-grids in public institutions

The Federal Government plans to install solar mini-grids in public institutions nationwide, allocating ₦100 billion under the 2025 budget. The initiative, part of the National Public Sector Solarisation Initiative, aims to lower governance costs by reducing spending on diesel, generators, and maintenance. The Managing Director of the Rural Electrification Agency (REA), Abba Aliyu, disclosed this […]

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