business
FG Declares End to Dormant Oil Fields, Vows to Revoke Licenses to Boost Production The Federal Government has issued a stern warning to oil and gas firms holding undeveloped oil field licenses, declaring an end to the “era of speculative licensing” and vowing to withdraw permits from operators who fail to actively develop their assets. […]
Naira Under Pressure: Parallel Market Rate Hits N1,585/$ Amid FX Volatility The Nigerian Naira has experienced significant pressure in the unofficial foreign exchange market, with the parallel market rate reportedly reaching N1,585 to the US dollar recently, reflecting the ongoing volatility in the country’s currency landscape. While the rate has seen some minor fluctuations and […]
Tinubu Halts FRC Act Implementation, Caps Dues for Private Companies at N25 Million President Bola Tinubu has ordered a temporary halt to the implementation of key provisions of the controversial Financial Reporting Council (FRC) (Amendment) Act 2023, specifically capping the annual dues payable by large private companies, known as Public Interest Entities (PIEs), at N25 […]
Starlink Resumes Nationwide Activations in Nigeria After Regulatory Pause and Network Upgrade Starlink, the satellite internet service operated by Elon Musk’s SpaceX, has officially resumed new customer activations across Nigeria, following a multi-month regulatory pause and significant network capacity upgrades. The development, confirmed on Saturday, June 28, 2025, marks a pivotal return for the high-speed […]
GTBank Announces Nationwide Early Closure for Half-Year Audit on Monday, June 30 Guaranty Trust Bank (GTBank) Limited has announced that all its branches across Nigeria will close earlier than usual on Monday, June 30, 2025. The early closure is to facilitate the bank’s scheduled half-year audit activities. The bank communicated this temporary change in operation […]
Nigerians Earning Below N250,000 Monthly Exempted From Income Tax Under New Laws – Oyedele In a significant move aimed at easing the financial burden on low-income earners, Nigerians earning N250,000 or less per month will now be exempt from paying Personal Income Tax (PIT). This crucial detail was disclosed by Taiwo Oyedele, Chairman of the […]
Trump’s Ex-Adviser Urges Africa to Reject ‘Debt-Trap Diplomacy’ Deals Former senior adviser to U.S. President Donald Trump, Jason Miller, has issued a strong warning to African nations, urging them to reject “debt-laden deals disguised as development assistance,” which he described as exploitative and unsustainable. Miller made the call during his keynote address at the 32nd […]
PRNigeria Hails New Book on AI in PR, Calls It “Invaluable Resource” PRNigeria, a leading public relations and media news platform, has highly commended a newly released book titled “AI-Powered PR: The Essential Guide for Communications Leaders to Master Artificial Intelligence,” describing it as a timely and practical contribution to the evolving field of public […]
NDLEA Seizes Over 1.9 Million Kilograms of Illicit Drugs, Arrests 222 Suspects in Abia he National Drug Law Enforcement Agency (NDLEA), Abia State Command, has announced a massive haul of approximately 1.94 million kilograms of illicit drugs and the arrest of 222 suspects over the past year. The impressive figures were disclosed by the Acting […]
Reps Summon Minister Over Alleged Misuse of Funds in Dormant Health College The House of Representatives has summoned the Minister of State for Health and Social Welfare, Adekunle Salako, to appear before its Committee on Speciality Healthcare over allegations of financial misappropriation linked to the Federal College of Complementary and Alternative Medicine, Abuja. The directive […]
Dangote Cement spends N13.2bn on CSR, pays N502.6bn as dividends Dangote Cement Plc has announced a significant payout of N502.6 billion in dividends to its shareholders for the 2024 financial year, translating to N30 kobo per share. This impressive dividend, representing nearly 100% of its N503.25 billion profit after tax, was approved during the company’s 2024 […]
President Tinubu Unveils 2,000 Tractors, Pledges to Revitalize Agriculture and Attract Youth President Bola Ahmed Tinubu has officially launched a significant agricultural mechanization initiative, unveiling 2,000 tractors and vowing to make farming a more attractive and profitable venture for Nigerian youths. The unveiling ceremony took place on Thursday, June 20, 2025, at the launch of […]
Cross River, Ondo Governors Champion PPPs as Pivotal for Nigeria’s Economic Transformation at 2025 Summit Governor Bassey Otu of Cross River State and Governor Lucky Aiyedatiwa of Ondo State have strongly advocated for Public-Private Partnerships (PPPs), hailing them as indispensable catalysts for accelerating growth and addressing critical development challenges across Nigeria. Their unified stance was […]
EFCC Arraigns Man Over Alleged N5 Billion Fraud in Lagos The Economic and Financial Crimes Commission (EFCC) on Thursday arraigned one Ibrahim Abubakar before the Federal High Court in Lagos over an alleged N5 billion fraud. Abubakar is facing a two-count charge bordering on conspiracy to steal and retention of proceeds of unlawful activity. The […]
Building Financial Resilience: Smart Strategies for Your Emergency Fund In an unpredictable economic landscape, establishing a robust emergency fund is not just financial advice; it’s a cornerstone of personal security. An emergency fund acts as a vital safety net, protecting individuals and families from unforeseen financial shocks such as job loss, medical emergencies, car repairs, […]
AGF Attributes Tertiary Institutions’ Salary Crisis to Hasty Payroll Migration The Accountant General of the Federation (AGF), Shamseldeen Ogunjimi, has squarely laid the blame for the persistent salary payment crisis plaguing federal tertiary institutions on a hasty and uncoordinated migration of their payroll system. The AGF made this assertion during a recent interactive meeting in […]
EU, Germany Launch Energy Efficiency Networks to Boost Kano’s Industries The European Union (EU), in collaboration with the German Federal Ministry for Economic Cooperation and Development (BMZ), has officially launched two Energy Efficiency Networks (EENs) in Kano State. This initiative, part of the broader Nigeria Energy Support Programme (NESP), aims to address the significant energy […]
Prolonged Blackout Cripples Businesses in Katsina’s Malumfashi Community Residents and business owners in Malumfashi Local Government Area of Katsina State are reeling from the devastating impact of a prolonged power outage, which has brought economic activities in the community to a standstill. The blackout, reportedly lasting for 14 days, has led to deep frustration and […]
Nigeria Achieves Record Female Workforce Participation, Says WEF Report Nigeria has reached its highest-ever level of female participation in the labour force, according to the latest 2025 Global Gender Gap Report released by the World Economic Forum (WEF). This significant progress highlights an encouraging trajectory for workforce parity in the country. The WEF report indicates […]
Federal Agricultural College Set to Revolutionize Ekiti’s Food Production, Says Rep. Ojuawo The presence and ongoing development of a federal college of agriculture in Ekiti State are poised to significantly enhance the state’s agricultural output and bolster food security, according to Representative Akin Layi Ojuawo. The legislator, who represents Ekiti North Federal Constituency II in […]