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Reforms attract over $10bn investment in upstream oil

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FG begins assessment of $200bn integrated infrastructure proposal

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CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown

CBN warns banks against excessive risk-taking after recapitalisation

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Govt implements 88 safety standards for CNG vehicles

The Federal Government has announced the adoption of 88 international standards for Compressed Natural Gas products, aimed at enhancing the rollout of various CNG initiatives across the country. This move is designed to facilitate the smooth implementation of CNG systems in vehicles and ensure the use of quality products in Nigeria. The Director-General of Standard […]

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FG to ground over 60 private jets over unpaid duties

The Federal Government, through the Nigerian Customs Service is set to ground over 60 private jets owned by prominent individuals due to unpaid import duties amounting to billions of naira. It is reported that the enforcement action by the Nigerian Customs Service will begin on Monday, according to The Punch. This follows communications between the […]

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FG launches digital portal to enhance public service access

The Federal Government of Nigeria, in partnership with its digital infrastructure provider, Galaxy Backbone, has officially launched the Government Service Portal in collaboration with the Korea International Cooperation Agency. In a statement released on Wednesday, the Head of Media and Corporate Communications at Galaxy Backbone, Chidi Okpala, highlighted that the initiative aims to improve government-to-citizen […]

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FG launches zero VAT on pharmaceuticals to reduce drug prices

The Federal Government has announced the initiation of a zero Value Added Tax policy on pharmaceutical products and medical devices, aimed at lowering drug prices across the country. In a statement released by the Head of Information at the Federal Ministry of Health, Alaba R. Balogun, it was confirmed that the Executive Order on the […]

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FG forms task forces to enhance investment in Nigeria’s aviation

The Federal Government has formed task forces within the Infrastructure Concession Regulatory Commission and the Ministry of Aviation to enhance investment in Nigeria’s aviation sector through public-private partnerships. This initiative aims to attract private capital, address infrastructure challenges, and stimulate economic growth within the industry. This was disclosed in a statement by the Acting Head […]

News

S’Korean consortium plan four 100,000-barrel refineries in Nigeria – FG

The Federal Government announced on Tuesday that a consortium of investors from South Korea has finalized plans to build four refineries, each with a capacity of 100,000 barrels, at various locations across the country. This investment is expected to enhance Nigeria’s refining capabilities and contribute to the local economy. This was disclosed by the Minister […]

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FG designates Dangote refinery sole supplier of Jet A1

The Federal Government has officially designated Dangote Refinery as the exclusive supplier of jet fuel for airline operators in Nigeria. This approval marks a significant development in the aviation sector, aiming to streamline fuel supply and enhance operational efficiency for airlines across the country. This was disclosed by the Minister of Aviation and Aerospace Development, […]

News

FG to cut post-harvest losses by 25%

The Federal Ministry of Agriculture and Food Security has pledged to reduce post-harvest losses in the agricultural sector by 25% as part of its broader strategy to enhance food security and boost domestic production. This was disclosed during the Special Agro-Industrial Processing Zones High-Level Implementation Acceleration Dialogue held in Abuja on Monday, according to The […]

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FG orders Discos to replace faulty equipment in seven days

The Federal Government has directed electricity distribution companies to replace weak distribution networks within their franchise areas within seven days. This order was issued through the Nigerian Electricity Management Services Agency and follows a two-month notice previously given to the Discos to implement necessary changes. The government aims to enhance the reliability of electricity supply […]

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ICYMI: FG launches CNG e-portal for youths

The Federal Ministry of Youth Development has launched a Compressed Natural Gas e-portal aimed at youths in the commercial transport sector interested in operating CNG-powered tricycles nationwide. This initiative is designed to promote sustainable transportation solutions and empower young entrepreneurs in the industry. This was disclosed by the Minister of State for Youth Development, Ayodele […]

Minister threatens to revoke Kogi-Benin Road contracts
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FG seeks 30% advance payment from NLNG for Bodo-Bonny road

The Federal Government has proposed a 30% advance payment from Nigeria LNG to expedite the Bodo-Bonny road project in Rivers State. This initiative follows the Federal Executive Council’s approval to boost the project’s funding to N280 billion. Minister of Works David Umahi announced this development during a meeting with Julius Berger (Nig.) Plc, as detailed […]

News

FG’s deep-water investment plan faces mixed reactions amid $82bn exodus

In a bid to revitalise the struggling oil and gas sector, the federal government has approved a comprehensive tax relief package aimed at attracting investment in deep-water operations. This initiative comes as the industry faces challenges from underinvestment, declining crude oil production, and the ongoing exit of international oil companies, according to Nairametrics. Recent data […]

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