Tinubu Stops NNPC's 30% Management Fee on Oil and Gas
President Bola Tinubu has eliminated the 30% management fee previously retained by NNPC Limited on profit oil and gas, directing revenues to flow directly to the Federation Account.
Category : Business
Nigeria Mandates E-Invoicing for Large Businesses
Nigeria Revenue Service enforces mandatory electronic invoicing for large businesses, with MTN Nigeria as the first to comply. The system aims to enhance tax compliance and digital administration.
Tinubu Orders Direct Oil Revenue Payment to Federation Account
President Bola Tinubu has signed an executive order requiring all oil and gas revenues to be paid directly into the Federation Account, aiming to strengthen public finances and curb revenue leakages in Nigeria's petroleum sector.
CFG Africa Forum Promotes Ethical Investment in Nigeria
CFG Africa's dual-city investment forum highlighted non-interest finance as a strategic hedge against market volatility, with experts showcasing strong returns and advocating for policy shifts to boost economic stability.
Nigeria's Direct Flights to 30 Countries from Lagos in 2026
Nigeria strengthens its position as West Africa's aviation hub with direct flights connecting Lagos to 30 countries across four continents, including a new Brazil route set to launch soon.
Unity-Providus Merger Surpasses CBN N200bn Capital Benchmark
The proposed merger between Unity Bank and Providus Bank has successfully exceeded the Central Bank of Nigeria's N200 billion minimum capital requirement for national banking licenses. Regulatory approvals and shareholder support have positioned the combi
NDDC CNG Training for 400 Youths in Niger Delta
The Niger Delta Development Commission has initiated a six-week CNG conversion training programme for 400 youths, aiming to equip them with skills for Nigeria's clean energy sector and reduce unemployment.
FAAN Fixes Airport Clocks After Pilot's Viral Complaint
The Federal Airports Authority of Nigeria has repaired the non-functional wall clocks at Murtala Mohammed International Airport following a viral social media post by a pilot highlighting the issue.
Lagos Airport Clocks Broken, Pilot Slams Poor Excellence Culture
Nigerian pilot Arinze Odira reveals that wall clocks at Murtala Muhammed International Airport in Lagos, meant to display times for five countries, are not working, citing a poor culture of excellence.
NCDMB: Upstream Oil & Gas Firms Must Pay 1% Levy, Get Certificate
The Nigerian Content Development and Monitoring Board (NCDMB) has reiterated that all upstream oil and gas companies must pay a mandatory 1% levy and obtain a compliance certificate to access regulatory services.
Rabiu's Wealth Hits $12.3bn as BUA Stocks Surge on NGX
Nigerian billionaire Abdulsamad Rabiu's net worth surged to $12.3 billion on February 18, 2026, driven by gains in BUA Cement and BUA Foods on the Nigerian Exchange. His wealth increased by $915 million in a single day, with year-to-date gains of $2.13 bi
37 Dead, 25 Hospitalized in Plateau Mining Gas Leak Tragedy
A suspected carbon monoxide gas leak at a mining site in Plateau State's Zurak area has killed 37 miners and hospitalized 25 others, highlighting severe safety lapses in underground operations.
Dangote Calls for National Forum on Power Crisis and Industrial Growth
Aliko Dangote has urged the federal government to convene a national retreat to address Nigeria's electricity challenges, warning that unstable power supply threatens manufacturing and job creation. He emphasized stronger protection for local industries.
Zenith Bank Warns Over AI-Generated Jim Ovia Investment Scam
Zenith Bank Plc has issued a strong public warning about a fraudulent AI-generated video falsely showing Chairman Jim Ovia promoting an investment scheme. The bank disowned the manipulated clip and urged Nigerians to disregard it.
FG Launches N5m Loan Scheme for Youth Businesses
The Federal Government has introduced a new financing initiative offering youth-led MSMEs loans up to N5 million at single-digit interest rates, in partnership with GIZ and Jaiz Bank.
Nigerian Solar Expert's Electric Lifter Goes Viral
A Nigerian solar installer has sparked online buzz by showcasing an electric machine that effortlessly lifts 30kg solar panels to roofs, drawing praise and questions from viewers.
Nigeria Stock Market Soars 31% in 2026, Naira Rally Boosts Cap
Nigerian equities rank second globally for dollar returns in 2026, surging 31% as market capitalization climbs to $84 billion. The naira's 7% gain against the dollar fuels investor confidence and foreign participation.
X Users Debate Rising Cost of Living: Budgeting vs. Income
A viral X post sparks intense debate on Nigeria's economy, with users arguing whether budgeting can fix the cost-of-living crisis or if stagnant wages are the real issue, highlighting divergent views on consumer habits and financial realities.
Gas Leak at Illegal Mining Site in Plateau Kills 37
A suspected toxic gas leak at an illegal mining site in Plateau state has resulted in the deaths of 37 miners, with survivors hospitalized. The incident highlights safety concerns in unregulated mining operations.
Nigeria Leads West Africa in Accelerated Eco Currency Push
West African leaders have intensified efforts to launch the long-delayed Eco regional currency, with Nigeria playing a central role in harmonizing monetary policies and meeting strict macroeconomic benchmarks for the ambitious 2027 target.
Naira Gains: Dollar Below N1,400 at Black Market, New Rates Set
The Nigerian naira has appreciated significantly, with the dollar exchange rate dropping below N1,400 at the black market. Traders announce new rates amid improved forex supply and rising external reserves.
Mshel Hutu Exclusive Real Estate Appreciates 35% in One Year
Mshel Hutu Exclusive, launched last year by Mshel Homes, has seen up to 35% appreciation due to its prime location and sustainable amenities like golf courses, a school, and a resort hotel. Investors are urged to act now to secure long-term returns.
Nigeria Loses N1.76tn Revenue from OPEC Quota Shortfall
Nigeria lost an estimated N1.76 trillion in potential crude oil revenue after failing to meet its OPEC production quota between January 2025 and January 2026, highlighting persistent structural challenges in the oil sector.
Dangote Daughters Appointed to Top Executive Positions
Aliko Dangote has appointed his daughters Halima, Fatima, and Mariya to key executive roles within the Dangote Group, as part of a leadership restructuring and succession plan aimed at driving expansion under Vision 2030.
Dangote Predicts Naira at N1,000 per Dollar by 2026
Billionaire industrialist Aliko Dangote forecasts the Nigerian naira could appreciate to N1,000 against the US dollar by 2026, citing government economic reforms and import restrictions as key drivers.
Man Calls Out Employee for Alleged Fund Diversion
A businessman has publicly accused an employee of diverting company funds into her personal account and savings box, alleging this occurred while he struggled with business losses and loans.
TCN Maintenance at Niger Substation to Cause Brief Outages
The Transmission Company of Nigeria schedules maintenance at Zungeru Substation in Niger State on February 18-19, 2026, with brief power interruptions expected in Kontagora, Tegina, Yauri, and nearby communities.
Dangote Halts Sales as New N777 Depot Price Emerges in Talks
Dangote Refinery suspends gantry sales to negotiate with fuel importers and marketers as new depot pricing emerges around N777 per litre, aiming to stabilize Nigeria's fuel market through coordinated supply framework.
FAAN Ends All Cash Transactions at Airports by 2026
The Federal Airports Authority of Nigeria (FAAN) has announced a ban on all cash transactions across its nationwide airport operations, effective February 29, 2026, in compliance with the federal government's cashless policy.
Ramadan 2026: Food Price Surge in Nigeria
Ahead of Ramadan, Nigerian markets see sharp increases in staple food prices like rice and beans, with some areas reporting doubled costs, while Lagos and Kano show relative stability.
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