July, 2025 — The Nigerian National Petroleum Company Limited (NNPCL) has announced a downward review of the pump price of Premium Motor Spirit (PMS), popularly known as petrol, from ₦945 to ₦910 per litre. The price adjustment, which took effect on Friday, comes amid ongoing efforts by the Federal Government to cushion the impact of
Lagos, Nigeria – July, 2025 — The Tin Can Island Port Command of the Nigeria Customs Service has announced a remarkable revenue generation of ₦747 billion between January and June 2025, alongside significant strides in anti-smuggling operations. Comptroller Dera Nnadi, the Customs Area Controller, disclosed the figures while briefing journalists in Lagos. He attributed the
Abuja, Nigeria – July , 2025 — Vice President Kashim Shettima has officially inaugurated the Board of the National Credit Guarantee Company (NCGC), a strategic institution designed to enhance access to credit for Micro, Small, and Medium Enterprises (MSMEs) across Nigeria. The inauguration ceremony, held at the Presidential Villa in Abuja, marks a critical step
Abuja, Nigeria – July, 2025 — Nigeria’s Ministers of Petroleum Resources have jointly reaffirmed that rising global investor confidence, bold reforms, and innovation are accelerating the transformation of the country’s oil and gas sector. Speaking at the 2025 Nigeria Oil and Gas (NOG) Energy Week in Abuja, the Minister of State for Petroleum Resources (Oil),
Abuja, Nigeria – July, 2025 — Concerns are mounting over Nigeria’s inflated oil revenue projections, which experts and analysts have now linked to questionable constituency projects allegedly sponsored by some members of the National Assembly. According to industry watchers and fiscal policy experts, the unrealistic benchmarks set for oil revenue in recent national budgets may
Abuja, Nigeria – July, 2025 — The National Pension Commission (PenCom) has disclosed plans to expand its investment portfolio by venturing into private equity and other alternative asset classes, as part of efforts to improve returns on pension assets and ensure long-term sustainability. This strategic shift comes amid growing interest in diversifying Nigeria’s pension fund
Abuja, Nigeria – July , 2025 — The Asset Management Corporation of Nigeria (AMCON) has officially confirmed the sale of the Ibadan Electricity Distribution Company (IBEDC), marking a significant development in the ongoing restructuring of Nigeria’s power sector. The electricity firm, previously one of five power distribution companies managed by AMCON due to loan defaults
Abuja, Nigeria – July, 2025 — Vice President Kashim Shettima has declared cassava a central catalyst in Nigeria’s renewed quest for industrial development and import substitution, reaffirming the Tinubu administration’s commitment to harnessing the country’s agricultural potential for national transformation. Speaking at the 2025 World Cassava Day celebration in Abuja, the Vice President emphasized that
In a decisive move aimed at reinforcing trust and stability in Nigeria’s insurance industry, the National Insurance Commission (NAICOM) has officially granted operational licences to SanlamAllianz Life Insurance Limited and SanlamAllianz General Insurance Limited. This development marks a significant step toward deepening industry competitiveness and expanding coverage across the country’s insurance landscape. KIIN360 understands that
Financial services giant, Stanbic IBTC, has projected a significant downward adjustment in Nigeria’s benchmark interest rate, forecasting a 200 basis points (bps) cut in 2025. This projection comes amid ongoing efforts by monetary authorities to strike a balance between inflation control and economic growth stimulation. In its recent macroeconomic outlook, the financial institution noted that
