The Federation Account Allocation Committee (FAAC) has announced the disbursement of a total of ₦1.818 trillion to the federal, state, and local governments for the month of June 2025, marking a 9.6 percent increase from the previous allocation. According to a statement released by the Director of Information, Office of the Accountant-General of the Federation,
The Federal Government of Nigeria has unveiled an ambitious plan to produce four million tonnes of green ammonia annually by the year 2060, as part of its broader strategy to promote clean energy and strengthen local fertilizer production. Speaking during a stakeholders’ forum on sustainable development in Abuja, Minister of Innovation, Science, and Technology, Uche
Nigeria has secured over $20 billion in investment commitments from China aimed at revitalizing key sectors including manufacturing, energy, infrastructure, and technology. The landmark deal was finalized during high-level bilateral discussions held in Beijing, signaling renewed cooperation between the two economic giants. According to senior officials present at the meeting, the agreements include direct investments,
The price of Nigerian crude oil has surged closer to the federal government’s 2025 budget benchmark, following a wave of renewed drone attacks on oilfields in Iraq, heightening global supply concerns. This development comes as Iraq faces its fourth round of assaults on key oil infrastructure in recent weeks, triggering volatility in global crude markets.
Nigeria’s electricity sector is under increasing financial pressure as three neighbouring West African countries, Benin, Niger, and Togo, have reportedly defaulted on payments exceeding $40 million for electricity supplied to them by Nigeria. According to sector insiders, the outstanding debts are linked to international bilateral energy supply agreements facilitated through the Nigerian Bulk Electricity Trading
The Enugu State Electricity Regulatory Commission (EERC) has announced a reduction in electricity tariff for Band A customers in the state from N209 to N160 per kilowatt-hour (kWh). The new rate, which takes effect from August 1, 2025, was disclosed in a tariff order issued to MainPower Electricity Distribution Limited, the utility company that replaced
The Nigerian naira ended last week on a weaker note, closing at 1,532.34 per dollar in the official market despite various interventions by the Central Bank of Nigeria aimed at supporting the currency. The local currency had started the week strong, reaching a four-month high of 1,518.88 per dollar on the first trading day. However,
Amid Nigeria’s ongoing challenge of talent migration and retention, Polo Luxury Group has emerged as a shining example of how investment in people can drive lasting success. The company, renowned for its leadership in the luxury goods market, has again earned the prestigious Great Place to Work certification for the second year in a row,
The Economic and Financial Crimes Commission, EFCC, has strongly refuted recent allegations of misconduct and lack of transparency published in a widely circulated article titled “EFCC’s alarming impunity,” written by veteran journalist Steve Osuji. In a detailed statement signed by the Head of Media and Publicity of the EFCC, Dele Oyewale, the commission described the
The Vice Chancellor of Lagos State University, Professor Ibiyemi Olatunji-Bello, has declared that the institution is on track to become the best university in West Africa by the year 2026. Under her leadership, LASU has experienced a significant transformation, emerging as the most sought after university in Nigeria in the 2025 Unified Tertiary Matriculation Examination
