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Dangote Refinery prepared to compete amid regulatory fairness

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Tag: FG

Finance Corporation invests $2bn in Nigeria - Official
featured Finance

FG signs IFC deal to fast-track bankable infrastructure projects

The Federal Government has signed a cooperation agreement with the International Finance Corporation, a member of the World Bank Group, to accelerate the delivery of bankable infrastructure projects and mobilise private capital essential for Nigeria’s economic transformation. The agreement was signed in Abuja on Wednesday. The signing ceremony was attended by the Minister of Budget […]

Business

FG launches initiatives to boost Nigeria’s gas-to-power sector

The Federal Government has introduced new initiatives aimed at bolstering Nigeria’s gas-to-power sector, highlighting natural gas as the backbone of electricity supply and a key driver of the nation’s industrialisation. Officials noted that gas currently accounts for over 70 per cent of Nigeria’s on-grid electricity generation, but acknowledged that challenges in supply, infrastructure, and commercial […]

RMAFC unveils revenue collection software
Business

FG reaffirms commitment to protect LG funds

The Federal Government has restated its commitment to stop the prolonged diversion of funds meant for the 774 local government councils from the Federation Account. The assurance was given on Thursday in Abuja by the Chairman of the Revenue Mobilisation Allocation and Fiscal Commission, Mohammed Shehu, at the 2025 budget performance review and 2026 budget […]

Oil and Gas

Nigeria gains ₦6tn from downstream petroleum reforms

Nigeria has recorded an estimated ₦6 trillion gain from reforms in the downstream petroleum sector within the first nine months of 2025, according to the Federal Government. The gain is attributed to the impact of fuel market deregulation and reduced reliance on imports. The Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) disclosed this at the […]

Electricity

FG, World Bank inject $500m to revive DisCos

The Federal Government, in collaboration with the World Bank, is set to inject $500 million into Nigeria’s ailing electricity distribution sector under the Distribution Sector Recovery Programme, as part of efforts to cut losses, close the metering gap and improve power supply nationwide. The intervention was disclosed by Director of the Energy Sector Department at […]

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Nigeria secures $18.2bn oil investments with 28 new field plans

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, says Nigeria recorded a major investment milestone in 2025 with the approval of 28 new field development plans worth $18.2bn, projected to deliver about 1.4 billion barrels of oil. Speaking on Tuesday in Abuja at the opening of the 9th Nigeria International Energy Summit 2026, […]

FG to provide free ICT training for youths - Youth minister
Business

FG launches free nationwide programme to boost financial literacy 

The Federal Government has launched a nationwide free training programme designed to equip 10 million Nigerians with skills in financial literacy and inclusion. According to a statement by the Senior Special Assistant to the President on Media and Communications, Stanley Nkwocha, the initiative will give priority to women and youth. It will focus on key […]

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Nigeria delivers fully equipped Africa Energy Bank headquarters to APPO

Nigeria on Monday officially transferred the fully equipped headquarters of the Africa Energy Bank to the Association of African Petroleum Producing Countries, a significant step toward mobilising sustainable funding for oil and gas projects across Africa. The handover, held in Abuja, was led by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, […]

Business

FG to share electricity subsidy burden with states, LGs

The Federal Government has announced plans to stop bearing electricity subsidy costs solely, unveiling a new framework that will share the responsibility among the federal, state, and local governments starting in 2026. The Director-General of the Budget Office of the Federation, Tanimu Yakubu, made this known on Monday in Abuja at a training and sensitisation […]

Business

FG to earn $5bn annually from carbon credits – Greenplinth Africa

The Federal Government is expected to generate up to $5bn yearly from carbon credit revenues linked to the 80 Million Clean Cookstoves Project, a major climate and energy initiative being executed by Greenplinth Africa Limited. The projection was revealed by the company’s Group Chief Financial Officer, Babatunde Aina, during a media chat and stakeholders’ engagement […]

FG targets 1,268MW from new hydropower plants
Energy

FG hands over 6MW Ikere Gorge hydropower plant to private firm

The Federal Government handed over the six megawatt Ikere Gorge hydropower plant in Iseyin, Oyo State, to Messrs. Quaint Power and Infrastructure Nigeria Limited over the weekend. The handover was executed under a Public-Private Partnership concession arrangement aimed at boosting power supply. This development was announced in a statement signed by Terhemen Oraduen, Personal Assistant […]

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