Business

In a sweeping move set to reshape Nigeria’s downstream fuel sector, President Bola Ahmed Tinubu has formally approved a 15 % ad valorem import duty on refined petrol (premium motor spirit) and diesel imported into the country. Issued via a presidential memo dated October 21 2025, the directive tasks the Federal Inland Revenue Service (FIRS) […]

President of Dangote Industries Limited, Aliko Dangote, has assured Nigerians of adequate Premium Motor Spirit (PMS) supply during the festive season.   The industrialist gave the assurance on Sunday while announcing the expansion of the Dangote Petroleum Refinery from 650,000 barrels per day (bpd) to 1.4 million bpd. According to him, prices of petrol will […]

FirstBank, the premier bank in West Africa and a leading financial inclusion service provider, is thrilled to announce the successful integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship digital banking platform, the LIT app, enabling customers to make instant, secure, and local currency-based cross-border payments across Africa.   PAPSS, developed by […]

…Strengthens Nigeria–Norway Clean Energy Collaboration    In a significant stride toward deepening economic ties between Nigeria and Norway, Africa’s Global Bank, United Bank for Africa (UBA) has partnered with Renewvia Solar Nigeria to deploy renewable energy solutions across 25 UBA branches in five Nigerian states.   The initiative was formalised at the official Ribbon Cutting […]

Elumelu at the 2025 Abuja Investment Summit states “When Investors Succeed, Nations Succeed”   The Group Chairman, United Bank for Africa (UBA) Plc, and Heirs Holdings Limited, Tony Elumelu, CFR has challenged African policymakers to create environments that reward enterprise and unlock the continent’s vast potential. He said this much while delivering a keynote address […]

• OVER $8 BILLION IN MAJOR UPSTREAM OIL AND GAS FINAL INVESTMENT DECISIONS UNDER PRESIDENT TINUBU SIGNALS RENEWED GLOBAL INVESTOR CONFIDENCE   President Bola Ahmed Tinubu welcomes the news of Shell’s $2 billion Final Investment Decision (FID) on a new gas project in the shallow offshore HI Field, in OML 144.   The new Non-Associated […]

It is a bitter irony of leadership when the nation entrusted to preserve life instead witnesses its citizens die younger than anywhere else; and then cages them in the worst prisons the continent has to offer. Under President Bola Ahmed Tinubu, Nigeria is committing two mortal sins: failing in public health, and failing in justice. […]

In a continent where millions remain outside the reach of formal finance, United Bank for Africa (UBA) Plc shines as a beacon of innovation and inclusion – a pan-African institution whose strategies harmonize technological innovation, community empowerment, and strategic partnerships to reach the unbanked and underbanked across the continent. UBA’s latest initiative, the Super Savers […]

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, is confident that the nation’s oil production would hit 1.8 million barrels per day crude benchmark before the year ends. Ojulari stated this on Sunday after visiting President Bola Tinubu in Lagos. The NNPCL boss was in Lagos to brief […]

The Central Bank of Nigeria has advised Nigerians to stop abusing the naira, warning that poor handling of the banknotes increases the cost of printing and replacing them.   The Deputy Governor, Operations Directorate, Bala Bello, warned on Wednesday during the launch of a nationwide sensitisation campaign on proper naira handling, held in Abuja. The […]

The Central Bank of Nigeria’s Monetary Policy Committee has reduced the interest rate by 50 basis points, from 27.5 per cent in July to 27 per cent.     This followed the decision of the 12 members of the Committee at its 302nd meeting held on September 22nd and 23rd, 2025. The asymmetric corridor around […]