The Independent National Electoral Commission (INEC) has unveiled a projected budget of ₦873,778,401,602.08 for the 2027 general elections. INEC Chairman, Joash Amupitan, presented the proposal to the National Assembly Joint Committee on Electoral Matters alongside the Commission’s separate ₦171 billion budget for the 2026 fiscal year. Financial Breakdown The multi-billion naira estimate is categorized into five primary…
Abuja — President Bola Tinubu has directed state governments to begin sharing the cost of electricity subsidy with the Federal Government, marking a major fiscal shift in the management of Nigeria’s power sector. Funding for the subsidy will now be drawn from the Power Assistance Consumers Fund (PCAF), a government-backed pool designed to support low-income…
First Abu Dhabi Bank (FAB), the largest lender in the United Arab Emirates, has officially confirmed plans to open a representative office in Lagos. This move is a major part of the bank’s strategy to expand its footprint across Sub-Saharan Africa. The announcement was made on Monday during the inaugural Investopia Africa summit held in…
The Manufacturers Association of Nigeria (MAN) has criticised the National Agency for Food and Drug Administration and Control (NAFDAC) over its renewed enforcement of a ban on sachet and small PET-bottled alcoholic beverages, warning that the action is disrupting legitimate businesses and threatening jobs. MAN said the move contradicts existing federal directives and legislative resolutions,…
The Federal Government has successfully issued a ₦501 billion inaugural bond to settle legacy debts owed to power generation companies (Gencos) under the Presidential Power Sector Debt Reduction Programme (PPSDRP), recording 100 per cent subscription from pension funds, banks and asset managers. The landmark financing move comes amid renewed concerns over grid stability after Nigeria…
Nigeria Customs generates ₦7.28 trillion revenue in 2025, exceeding target as reforms boost trade facilitation and enforcement.
Federal High Court fines Airtel ₦210m for unauthorised use of “Nigeria Go Survive” in advertising campaigns.
Nigeria’s oil output slips to 1.42m bpd in December, but Wood Mackenzie forecasts recovery above 2m bpd in 2026.
Dangote Refinery boosts local petrol supply by 65% in December, raising fuel sufficiency and easing Nigeria’s dependence on imports.
Nigeria’s inflation falls to 15.15% in December as food and energy prices ease, with IMF welcoming improved CPI methodology.
