Nigeria’s Revenue Hits N15.8tn: Economists Cite Reforms
Economists have attributed Nigeria’s strong revenue performance in the first five months of 2026 to the impact of recent tax reforms, improved revenue administration and stronger earnings from the oil sector, following government collections of N15.8tn during the period. According to data from the Nigeria Revenue Service reported by Bloomberg, government revenue rose by 49 […]
Only 18% of Nigerian Retailers Access Formal Loans: Report
The Nigeria FMCG Industry Report 2026, published by Omni, has revealed that only 18 per cent of retailers in the country have accessed formal loans, underscoring the scale of financial exclusion in the fast-moving consumer goods sector. The report, which was unveiled in Lagos on Friday by the Minister of Industry, Trade and Investment, Dr […]
Dangote Refinery Cuts Diesel, Jet Fuel Prices
The Dangote Petroleum Refinery has lowered its gantry prices for Automotive Gas Oil (diesel) and Aviation Turbine Kerosene (jet fuel). According to data from Petroleumprice.ng, the Dangote refinery reduced the diesel gantry price by N100, from N1,700 per litre to N1,600 per litre, representing a reduction of 5.9 per cent. Jet fuel prices were also […]
FG Halts 1% Stamp Duty Deductions by MDAs
The Federal Government has directed all Ministries, Departments and Agencies to immediately discontinue the deduction of one per cent stamp duty from payments made to contractors, vendors, suppliers and service providers, citing the provisions of the Nigeria Tax Act 2025. The directive was contained in a Federal Treasury Circular dated June 15, 2026, and signed […]
Crude Oil Production Rises, NUPRC Targets 1.9mbpd
Nigeria’s crude oil production could rise to 1.9 million barrels per day in the near term following recent improvements in output, the Nigerian Upstream Petroleum Regulatory Commission has said. The Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, disclosed this on Wednesday during a meeting with the Chairman of the Nigeria Revenue Service, Zacch Adedeji, […]
LagRide Drive-to-Own: Empowering Drivers with Vehicle Owners
Ride-hailing and mobility platform, LagRide, has handed over vehicles to another batch of its Captains under the company’s Drive-to-Own programme, reaffirming its commitment to promoting dignified transportation and creating pathways to asset ownership for drivers in Lagos. The vehicle handover ceremony, tagged Drive-to-Own Graduation 2.0, was held at the LagRide in Lagos where government officials, […]
CBN-Licensed Fintech to Boost Cashless Payment in Nigeria
Financial technology firm Xpress Payment Solutions Limited has pledged to accelerate its deployment of secure, frictionless transaction platforms to meet the demands of Nigeria’s rapidly evolving cashless economy. The company, which operates under the Central Bank of Nigeria’s premium Switching and Processing licence category, announced that its next phase of market growth will centre heavily […]