The Nigerian government has announced that, starting from 1 January 2026, all Nigerians and non-residents will be required to obtain a Tax Identification Number (Tax ID) to open or operate bank accounts and access financial services. This directive follows the enactment of the Nigeria Tax Administration Act, 2025, recently signed into law by President Bola Tinubu. The law makes it compulsory for individuals and entities to present a valid Tax…

Wale Tinubu, the Group Chief Executive of Oando Plc, is urging African nations to take charge of their own destiny by building a robust, self-sufficient energy and financial infrastructure. During a recent fireside chat with Omar Yedder, Group Publisher and Managing Director of African Business, at the Intra-African Trade Fair 2025 (IATF 2025) in Algeria, Tinubu laid out a vision for the continent’s future based on internal investment, stronger regional…

The Nigerian government’s 2025 budget, known as the “Budget of Restoration,” is on track to begin implementation by the end of September. This announcement was made by the Director-General of the Budget Office of the Federation (BoF), Tanimu Yakubu, during a recent forum in Abuja. The news comes after growing public concern over the delay in implementing the N54.99 trillion budget, which was passed into law nine months ago. READ…

The Central Bank of Nigeria (CBN) has unveiled a new strategic framework, the Nigeria Payments System Vision 2028 (PSV 2028), aimed at strengthening the country’s financial ecosystem and positioning it for global competitiveness. Launched yesterday at the inaugural meeting of the PSV 2028 Project Committee in Lagos, the initiative was described by Musa Jimoh, Director of the CBN’s Payments System Policy Department, as a critical “national assignment.” RESD ALSO: Edun meets…

Nigeria and Angola are poised to strengthen their relationship by signing at least 15 new Memoranda of Understanding (MoUs) during the fifth session of the Nigeria-Angola Bilateral Economic Joint Commission in Luanda. According to Nigeria’s Minister of State for Foreign Affairs, Ambassador Bianca Ojukwu, these agreements will significantly advance bilateral relations. She highlighted that the MoUs would serve their mutual interests, reinforce domestic institutions, stimulate economic and social progress, and…

Vice President Kashim Shettima has stated that the courageous reforms being implemented by President Bola Tinubu’s administration are a testament to the power of political will in economic policy. Speaking at the 66th Annual Conference of the Nigerian Economic Society (NES) on Tuesday, he said these reforms are crucial for addressing Nigeria’s long-standing structural weaknesses. Shettima acknowledged that the reforms have been painful but necessary, comparing them to a “painful…

Lagos State has been chosen to host the 2027 Intra-African Trade Fair (IATF), following an announcement by the African Export-Import Bank (Afreximbank), the African Union, and the African Continental Free Trade Area (AfCFTA) Secretariat. The decision is widely regarded as a landmark achievement for Nigeria and the West African sub-region, reaffirming Lagos’ status as one of Africa’s leading economic hubs. Governor Babajide Sanwo-Olu described the nomination as “a reflection of…

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has reaffirmed its decision to commence industrial action on Monday, 8th September 2025, citing alleged anti-labour practices by the management of Dangote Refinery. In a strongly worded statement issued on Sunday and signed by the union’s President, Williams Akporeha, and General Secretary, Afolabi Olufemi, NUPENG accused the Dangote Group of attempting to undermine legally recognised labour rights and union freedoms.…

The Securities and Exchange Commission (SEC) has established a dedicated desk to expedite approvals for insurance sector recapitalisation, with a firm commitment to process complete applications within 14 days. Ebelechukwu Nwachukwu, head of the Communication and Stakeholders Management Subcommittee, announced this during the 19th Insurers’ Committee meeting in Lagos. The move follows the recent signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 into law by President Bola Tinubu.…

The Lagos State Government has announced it will host its annual Job Fair on September 11, 2025, at the Blue Roof, Lagos State Television, Ikeja. Organised by the Ministry of Wealth Creation and Employment, the event, themed “Your Career, Your Way: Explore Endless Possibilities”, aims to connect thousands of young people with job and entrepreneurial opportunities. READ ALSO: Bwala retracts ‘no-man’s land’ remark, affirms Lagos as Yoruba Land The Job Fair…

Nigeria is aiming to produce 10 billion standard cubic feet of gas per day (scf/d) by 2030, a goal reaffirmed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during a meeting with the management of Nigeria LNG Limited (NLNG) in Abuja. The discussion during the week focused on strategies to shape the future of Nigeria’s gas industry, including production targets, the investment climate, and ongoing…

By Ismaeel Aleem  Nigeria has achieved unprecedented growth in non-oil revenue collections for January–August 2025, reaching ₦20.59 trillion, a 40.5% increase from ₦14.6 trillion in 2024, according to a State House press release issued on Wednesday. This milestone, driven by reforms in tax administration, compliance, and digitisation, marks the country’s strongest fiscal performance in recent history. President Bola Tinubu highlighted this achievement during a meeting with the Buhari Organisation, led…