The Federal Government, FG, through its Investment in Digital and Creative Enterprises (iDICE) programme, has announced a milestone by serving as an anchor investor in the first close of a new venture fund, while also confirming plans to launch two additional investment funds in 2026. The announcement was made in a statement on Monday, detailing the formal kick-off of the iDICE programme’s investing phase. The iDICE initiative has provided an…

The Minister of Budget and Economic Planning, Atiku Bagudu has called for a results-oriented partnership between Nigeria and Germany to help Nigeria achieve its ambitious target of becoming a $1 trillion economy by 2030. The Minister made the call in Abuja during a visit by a high-level delegation from the Giessen Chamber of Commerce and Industry (IHK Giessen-Friedberg) of Germany, led by its Chief Executive Officer, Matthias Leder. The meeting,…

The Federal Government (FG) has appointed John Nwabueze as the nation’s inaugural Tax Ombudsman. The appointment, made in accordance with the Joint Revenue Board of Nigeria (Establishment) Act, 2025, is a key component of President Bola Tinubu’s commitment to implementing significant reforms in the country’s tax and revenue administration framework. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed the development via a State House press…

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…