Billionaire Femi Otedola has commended President Bola Tinubu for his bold and decisive step in implementing a 15% import tariff on petrol and diesel. In a statement posted on his X page on Monday, the business mogul called the policy a crucial measure for protecting Nigeria’s burgeoning domestic refining industry. READ ALSO: Femi Otedola increases stake in First Holdco Otedola emphasised that the tariff is vital for safeguarding local industries that…

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has labeled recent media reports suggesting that foreign investors are upset by Nigeria’s new Capital Gains Tax (CGT) as inaccurate and misleading. Taking to his X handle yesterday, Oyedele clarified that his recent discussion with financial stakeholders was misrepresented by certain news outlets. The new CGT is part of the four tax reform bills signed into law…

The Federal Competition and Consumer Protection Commission (FCCPC) has hailed two recent High Court rulings in Lagos and Enugu states as significant victories that reinforce consumer protection and accountability in the Nigerian marketplace. The Vice Chairman and Chief Executive Officer of the FCCPC, Tunji Bello, welcomed the judgments on Monday, stating they strengthen consumer confidence and demonstrate the robustness of the Federal Competition and Consumer Protection Act (FCCPA), 2018. In…

The Central Bank of Nigeria (CBN) has released a total of $1.259 billion to oil sector players for the importation of petroleum products and related items in the first quarter of 2025, New Daily Prime reports. The disbursement comes amid ongoing insistence by petroleum marketers to continue importing fuel, despite the availability of locally refined petrol from the Dangote Refinery. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority…

The President of Dangote Industries Limited, Aliko Dangote, has announced a massive expansion of the Dangote Petroleum Refinery, vowing to ensure a stable and anxiety-free supply of Premium Motor Spirit (PMS) throughout Nigeria’s festive “ember months.” Dangote revealed yesterday that the refinery’s capacity will be expanded from its current 650,000 barrels per day (bpd) to 1.4million bpd over the next three years. Once completed, the $20 billion facility will surpass…

The Minister of Solid Minerals Development, Dele Alake, has urged international investors to significantly increase their stakes in the nation’s solid minerals sector. He highlighted major institutional and security reforms that guarantee higher returns and ease of doing business. Speaking on the theme “Connect and Collaborate, Co-Build and Co-Share” at the 2025 China Mining Conference in Tianjin, Alake showcased Nigeria as the premier destination for global mineral investment, citing a…

The Dangote Refinery has announced a major expansion plan that will see its production capacity increase from 650,000 barrels per day (bpd) to 1.4 million bpd, positioning it as the largest refinery in the world once completed. The announcement was made by the President of the Dangote Group, Alhaji Aliko Dangote, during a press briefing in Lagos on Sunday. Dangote, accompanied by his long-time associate and Chairman of First Bank,…

The Financial Action Task Force (FATF), a global money-laundering watchdog based in France, has officially removed Nigeria, South Africa, Mozambique, and Burkina Faso from its “grey list” of countries under increased monitoring. The announcement came on Friday, following what the FATF described as “successful on-site visits” that confirmed “positive progress” by the four nations in strengthening their anti-money laundering and counter-terrorism financing frameworks. The FATF maintains both “grey” and “black”…

Guinness Nigeria Plc has announced the appointment of Ms. Abimbola Ajibola-Jimoh as its new Company Secretary, effective November 1, 2025. The appointment was disclosed through a corporate filing on the Nigerian Exchange (NGX) dated October 23, 2025, in line with regulatory disclosure requirements. The development marks another significant step in the company’s ongoing efforts to strengthen its corporate governance and leadership structure. Ms. Ajibola-Jimoh takes over from Mrs. Ademola, who…

The Minister of State for Finance, Doris Uzoka-Anite, has stressed that embracing the core principles of patriotism, education, and public service is essential for achieving economic empowerment, inclusive growth, and equal opportunities for all citizens. Uzoka-Anite made the declaration during a courtesy visit to her office by the Committee for the 6th Nnamdi Azikiwe Annual Award Memorial Lecture, led by its Chairman and former governor of Niger State, Mu’azu Aliyu.…

The Federal Government (FG) has restated its dedication to broadening financial inclusion across the country, primarily by leveraging digital identity systems and implementing pro-growth regulatory policies. The commitment was highlighted by the Minister of State for Finance, Doris Uzoka-Anite, during her address at the Semafor’s Next 3 Billion Tour event held in Abuja. The convening, organized by Semafor in partnership with the Bill and Melinda Gates Foundation, brought together various…

Governor Biodun Oyebanji of Ekiti State has reaffirmed his administration’s commitment to partnering with legitimate investors and has highlighted the institutional framework in place to guarantee a seamless, pro-business environment within the state. The governor made this declaration yesterday in Ado Ekiti while hosting a delegation from the British High Commission led by the Deputy High Commissioner, Lagos, Jonny Baxter. He stressed that the state is actively pursuing credible partnerships…