The Nigerian Domestic Petroleum Holding Company (NDPHC) has reportedly gained renewed momentum under the leadership of Managing Director Adighije, as the agency intensifies efforts to strengthen the nation’s domestic petroleum supply chain and ensure efficient fuel distribution. Observers note that NDPHC’s recent initiatives reflect a strategic focus on operational efficiency, financial transparency, and stakeholder engagement, aimed at stabilizing the petroleum sector and supporting broader economic growth. Under Adighije’s tenure, the NDPHC has reportedly prioritized the streamlining of fuel procurement and distribution processes, reducing delays and inefficiencies that have historically plagued the sector. This includes closer coordination with petroleum marketers, refiners,…
Author: Temitope Nlewemchi
The Federal Government has clarified that ongoing tax reforms will not involve unauthorized access to citizens’ bank accounts, reassuring Nigerians about privacy and financial security amid rising concerns over digital tax collection measures. Officials emphasized that the reforms are focused on improving tax administration, broadening the tax base, and enhancing compliance through transparent and accountable procedures, without violating personal financial confidentiality. Speaking on the reforms, a senior official from the Federal Ministry of Finance explained that the government intends to rely on existing financial reporting frameworks, voluntary disclosures, and partnerships with banks to strengthen tax collection. The official stressed that…
A Lagos State lawmaker has donated 400 market stalls to traders in the state, reinforcing efforts to support small businesses and enhance economic activities within local markets. The initiative, aimed at empowering traders, particularly those in the informal sector, reflects a commitment to fostering entrepreneurship, reducing unemployment, and providing sustainable livelihoods for residents. During a ceremony marking the presentation of the stalls, the lawmaker emphasized that the gesture is part of a broader agenda to support economic empowerment and ensure that traders have access to proper, secure spaces to conduct their businesses. He noted that market infrastructure plays a critical…
Investment in Africa’s upstream oil and gas sector has rebounded strongly, reaching a forecasted $41 billion, signaling renewed confidence in the continent’s energy prospects amid global market recovery. Analysts attribute the surge to rising oil prices, favorable regulatory reforms, and increasing interest from international and domestic investors seeking growth opportunities in exploration and production activities across key African markets. According to industry experts, the rebound reflects significant commitments to exploration, drilling, and production capacity expansion. Countries such as Nigeria, Angola, Ghana, and Egypt have seen heightened activity, with operators moving forward on previously delayed projects and announcing new ventures aimed…
The Nigerian National Petroleum Company Limited (NNPC Ltd) has reportedly used crude oil valued at about N991 billion to service part of the $3 billion emergency loan it secured last year to stabilise the foreign exchange market and support its operational obligations. The latest findings, sourced from internal industry assessments and disclosures by officials familiar with the repayment structure, indicate that crude oil swaps remain a central mechanism for meeting the company’s external financial commitments. According to the report, the $3 billion loan—initially described as a crude-backed facility—was structured to allow NNPC to repay the debt by allocating portions of…
The European Union (EU) and the Federal Government of Nigeria have entered into a renewed partnership aimed at addressing the persistent skills deficit hindering the country’s power sector. The initiative, announced following high-level energy and development dialogues between both parties, is expected to strengthen human capacity, improve technical competence, and support Nigeria’s transition toward a more reliable, sustainable electricity system. The collaboration comes at a time when Nigeria continues to struggle with inadequate power generation, ageing infrastructure, and technical manpower shortages across the electricity value chain. The EU noted that while Nigeria possesses significant potential for renewable energy expansion and…
Google.org, the philanthropic arm of Google, has approved a $1 million grant to the Africa Talent Foundation (ATF) as part of an ambitious plan to nurture a new generation of artificial intelligence specialists across the continent. The funding marks one of the organisation’s most significant commitments toward closing Africa’s AI skills gap and positioning young professionals for emerging opportunities in the global digital economy. The grant is aimed at strengthening ATF’s capacity to train, mentor, and equip thousands of Africans with skills in cutting-edge AI disciplines, including machine learning, data science, responsible AI deployment, and the development of practical solutions…
Chevron Nigeria has signalled its readiness to participate in the upcoming 2025 oil and gas licensing round announced by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), a development seen as a strong vote of confidence in the country’s upstream investment climate. The move by the American energy giant comes at a time when Nigeria is seeking to attract significant new capital into its petroleum sector amid renewed government reforms and growing calls to boost production. The NUPRC recently launched the 2025 bid window with the offer of dozens of oil and gas blocks located across onshore, shallow-water, and frontier terrains.…
United Bank for Africa (UBA) has partnered with Lions Group and Wakanow to launch a new festive-season promotional initiative known as the Detty Side campaign. The collaboration, unveiled ahead of the year-end celebrations, is aimed at engaging young Nigerians, expanding digital lifestyle offerings, and boosting travel and entertainment access during the busy holiday period. The campaign highlights UBA’s increasing push toward youth-oriented financial experiences and digital convenience, aligning with evolving consumer behaviour and Nigeria’s expanding creative economy. The Detty Side campaign is designed to make this year’s festive season more memorable for young people by offering exclusive rewards, discounted travel…
NEM Insurance Plc has added another major milestone to its long-standing record of achievements after emerging as the winner of a prestigious Financial Services Award, reaffirming its position as one of Nigeria’s most resilient and forward-thinking insurance companies. The recognition, announced at a high-profile industry event attended by leading financial institutions, regulators, and stakeholders, celebrates NEM Insurance’s outstanding performance, innovation, and commitment to customer-focused service delivery in the past year. The award comes at a time when Nigeria’s insurance sector is experiencing renewed momentum driven by digital transformation, regulatory reforms, and rising consumer awareness. NEM Insurance’s victory is widely regarded…
Crude oil production among OPEC member states declined in November, driven primarily by production outages in Nigeria and disruptions across other member nations. The reduction has raised concerns about global oil supply stability, even as international markets continue to monitor the effects of shifting production levels on crude prices and energy security. Analysts say the downturn underscores the persistent challenges faced by oil producers, particularly in balancing operational constraints with contractual production targets. According to industry reports, Nigeria experienced a significant production outage during November, contributing notably to the overall decline in the Organisation of Petroleum Exporting Countries’ output. The…
Eko Electricity Distribution Company (EKEDC) has raised concerns over the slow progress of the national free meter initiative, attributing significant delays to interference by unauthorised third-party agents. According to the company, while the programme aims to deliver thousands of meters to eligible households and businesses to improve electricity metering and billing accuracy, the activities of rogue intermediaries have undermined efficiency and caused bottlenecks in distribution. Officials at EKEDC said the free meter initiative is designed to enhance accountability, reduce energy losses, and promote accurate billing, particularly for residential and small commercial consumers. The scheme is part of a broader…
Golden Penny, one of Nigeria’s leading food and consumer brands, has rewarded 6,000 loyal customers through its flagship brand loyalty initiative, highlighting the company’s ongoing commitment to recognising and celebrating consumer loyalty across the country. The programme, which spans multiple product lines, is designed to incentivise repeat purchases while reinforcing the brand’s connection with its growing customer base. The rewards ceremony, held recently, drew attention from stakeholders in the fast-moving consumer goods sector, with representatives from retail, distribution, and marketing sectors commending Golden Penny’s strategy to actively engage consumers beyond transactional interactions. By acknowledging loyal patrons, the company demonstrates that…
MTN Nigeria has announced a strategic partnership with the national Small Business Agency to drive digital transformation, growth, and employment creation among the country’s small and medium-sized enterprises (SMEs). The collaboration is aimed at empowering approximately 40 million SMEs nationwide by providing access to technology, training, and financial solutions that will enhance business efficiency, expand market reach, and stimulate economic development. The partnership, which aligns with the government’s agenda to strengthen the SME sector, focuses on equipping entrepreneurs with tools to navigate the digital economy. By leveraging MTN’s telecommunications and digital expertise alongside the Agency’s capacity-building programmes, the initiative seeks…
Dangote Group, one of Africa’s largest conglomerates, is on course to become the world’s top fertiliser producer by 2028, according to the company’s founder and chairman, Aliko Dangote. The announcement highlights the firm’s ambitious expansion plans in the agro-industrial sector, reflecting its commitment to transforming Africa’s agricultural landscape and boosting global food security through large-scale fertiliser production. Speaking at a recent industry forum, Dangote emphasised that the company’s investments in fertiliser manufacturing are part of a broader strategy to strengthen Africa’s industrial base and reduce the continent’s reliance on imported agricultural inputs. The conglomerate has already made significant progress, with…
OPay has earned significant acclaim at the recently concluded Tech Innovation Awards, securing two distinguished honours that underline the company’s growing influence in Nigeria’s digital financial ecosystem. The wins highlight OPay’s increasing impact on payment technologies, financial inclusion, and the expansion of digital services that cater to millions of users across the country. The recognitions, according to organisers of the award ceremony, were presented in acknowledgment of OPay’s consistent innovation and leadership in delivering seamless mobile payment solutions, creating economic opportunities for small businesses, and strengthening the nation’s evolving fintech landscape. The company has continued to demonstrate resilience, adaptability, and…
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government to publicly identify and prosecute individuals, groups, and networks believed to be sponsoring terrorism across the country. The association said exposing the financiers of violent extremism has become crucial for national security, economic stability, and the protection of workers whose lives and livelihoods are threatened daily by insecurity. PENGASSAN’s leadership expressed concern that despite years of government interventions, billions of naira spent on security operations, and multiple military deployments across various regions, terrorist groups have continued to survive due to the influence of…
The Pension Transitional Arrangement Directorate (PTAD) has recorded a significant surge in its monthly pension expenditure, with payments to federal retirees now reaching an estimated N1 trillion. This development reflects the increasing financial commitments required to sustain pension obligations under the Defined Benefit Scheme (DBS), as well as efforts made by the Federal Government to clear inherited arrears and ensure timely payments to senior citizens across the country. According to sources within the pension administration system, the spike in payout figures is driven by several factors, including the onboarding of verified pensioners, harmonisation of pension rates, adjustments linked to salary…
Emirates Airlines has been honoured once again for its exceptional role in enhancing air travel links across Africa, receiving a major award for African connectivity. The recognition underscores the airline’s long-standing commitment to improving aviation access, facilitating trade and tourism, and supporting the economic aspirations of several African nations. The award, presented by industry experts and stakeholders, reflects Emirates’ sustained investment in expanding routes, upgrading services, and providing reliable connections between Africa and major destinations around the world. Over the years, Emirates has built one of the most extensive networks serving the African continent, connecting travellers from key cities such…
The Federal Government has approved the release of N185bn to settle long-standing debts owed to gas producers, marking one of the most significant financial interventions aimed at stabilising Nigeria’s fragile power sector. The decision, endorsed at the highest levels of government, is intended to restore confidence among gas suppliers, many of whom have repeatedly warned that unresolved debts were hindering their ability to sustain production and expand supply to power plants. With this latest move, authorities are hoping to remove one of the biggest bottlenecks preventing consistent electricity generation across the country. According to senior officials privy to the process,…