Will Fuel Subsidy Return? FG Breaks Silence as Middle East Crisis Deepens
Will Fuel Subsidy Return? FG Breaks Silence as Middle East Crisis Deepens The Federal Government has ruled out any plan to reintroduce fuel subsidy despite the recent spike in petrol prices linked to the ongoing Middle East conflict. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known on Tuesday during a […]
MIXED REACTIONS TRAIL NIGERIA’S 2026 TARIFF CUTS ON DRUGS, RICE, CARS
The Federal Government’s new 2026 fiscal policy reducing import tariffs on drugs, rice, and vehicles has drawn mixed reactions from key sectors. Pharmaceutical stakeholders welcomed the move, saying lower tariffs could improve access to essential medicines. However, they warned that poor regulation, counterfeit drugs, and weak support for local manufacturing could limit the benefits. […]
Why petrol price may hit N2,000 per litre — TUC
The Trade Union Congress of Nigeria (TUC) has warned that the pump price of Premium Motor Spirit (PMS) could rise to about N2,000 per litre, citing global and domestic economic pressures. Speaking in Abuja on Thursday, TUC President, Festus Osifo, attributed the looming increase to the ongoing crisis in the Middle East, particularly tensions involving […]
Breaking: FG Moves to Slash Rice, Vehicle and Steel Prices Nationwide
The Federal Government has approved the implementation of the 2026 Fiscal Policy Measures (FPM), introducing major adjustments to import tariffs across several sectors…. CONTINUE READING. According to a circular dated April 1, 2026 and signed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Import Adjustment Tax (IAT) on selected […]
What You Must Know As CBN Tightens BVN Rules From May 1
As the Central Bank of Nigeria (CBN) is set to roll out a new set of Bank Verification Number (BVN) guidelines from May 1, 2026, there are key rules every account holder must have knowledge of before the deadline. The framework introduces tighter controls on phone number changes, device usage, and transaction limits. The move […]
33 Banks raise N4.65trn as CBN closes recapitalisation
The Central Bank of Nigeria, CBN, has announced the successful conclusion of the banking sector recapitalisation programme initiated in March 2024. This is disclosed in a statement issued on Wednesday in Abuja, jointly signed by Dr Olubukola Akinwunmi, Director, Banking Supervision and Mrs Hakama Sidi-Ali, Acting Director, Corporate Communications Department of the CBN. New CBN […]
Nigerians to Brace for Higher Cost of Living as FG Increases Domestic Gas Price
Nigerians may face fresh economic pressure following a new increase in domestic gas prices, a development expected to impact electricity tariffs, manufacturing costs, and the overall cost of living. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday announced an increase in the Domestic Base Price of natural gas to $2.18 per […]
FG Moves to Unlock $500m World Bank Loan
The Federal Government of Nigeria has intensified efforts to ensure all 36 states participate in the $500 million World Bank–assisted loan facility under the HOPE Governance Programme. This was revealed on Thursday in a statement by the programme’s spokesperson, Joe Mutah. The initiative aims to strengthen governance systems, particularly in basic education and primary healthcare, […]
New CBN Directive Set to Change How Nigerians Receive Money from Abroad Starting May 1
The Central Bank of Nigeria has directed that, from may 1st, 2026, all diaspora remittances must be paid in naira, banning foreign currency payouts and mandating international money transfer operators to route transactions through designated naira settlement accounts in authorised dealer banks. The apex bank said the directive, contained in a circular signed by the […]
BREAKING: Makinde Approves ₦10,000 Monthly Transport Support for Oyo Workers
Oyo State Governor, Engr. Seyi Makinde, has approved a ₦10,000 monthly transportation support allowance for civil servants across the state, as part of measures to cushion the effects of rising economic hardship. The governor made the announcement on Monday during the supervision of the YEAP-SAFER support disbursement and stakeholder engagement programme held at the Fashola […]