IPMAN Warns Against Petrol Price Controls, Threatens Shutdown
By Chinedu Echianu Fuel marketers under the umbrella of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have threatened to shut down filling stations nationwide if the Federal Government attempts to impose price controls on petrol in the deregulated downstream sector. The warning comes amid renewed concerns by the Federal Government and consumer protection authorities […]
Diesel Price Jumps 86% in One Year, Hits N3,277/Litre – NBS
By Oluwakemi Kindness The National Bureau of Statistics (NBS) says Nigerians faced mounting energy costs in May as the average retail price of diesel surged by 86.4 per cent year-on-year to N3,277.47 per litre, the highest increase recorded among the country’s major petroleum products. The NBS latest Price Watch report on Monday showed that diesel, […]
Customs to Implement Green Tax Surcharge July 1
By Oluwakemi Kindness The Nigeria Customs Service (NCS) will begin nationwide implementation of the Green Tax Surcharge on July 1, 2026, as part of efforts to promote environmental sustainability and reform Nigeria’s vehicle import system. The policy is aimed at reducing carbon emissions, encouraging the importation of cleaner vehicles and aligning Nigeria’s environmental practices with […]
SMEDAN DG urges governors to boost MSMEs
By Oluwakemi Kindness Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Charles Odii, has urged state governors to establish more MSME development and skill acquisition centres and provide matching funds to accelerate the growth of small businesses across the country. Speaking at the 2026 World MSME Day celebration in Abuja at […]
FCCPC Warns Marketers Against Delaying Petrol Price Cuts
By Oluwakemi Kindness The Federal Competition and Consumer Protection Commission (FCCPC) has warned fuel marketers against delaying reductions in petrol prices, saying it will investigate and sanction businesses found exploiting consumersThe Federal Competition and Consumer Protection Commission (FCCPC) has warned fuel marketers against delaying reductions in petrol prices, saying it will investigate and sanction businesses […]
NSIA Unveils $275,000 Innovation Fund for Nigerian Startups
By Oluwakemi Kindness The Nigeria Sovereign Investment Authority (NSIA) has launched the fourth edition of its Prize for Innovation (NPI 4.0), unveiling a $275,000 prize pool and access to up to $1.5 million in growth funding to support high-potential Nigerian startups. The initiative, themed “Building for Impact,” is designed to help innovative businesses scale through […]
NSITF, Rand Mutual Partner on Workers’ Protection
By Chinedu Echianu The Nigeria Social Insurance Trust Fund (NSITF) and South Africa’s Rand Mutual Assurance (RMA) have commenced discussions on a strategic partnership aimed at strengthening social protection systems, workers’ compensation administration, and occupational safety across Africa. Speaking on Tuesday while hosting a high-level delegation from RMA led by its Group Chief Executive Officer, […]
Dangote Refinery Denies Fuel Export, Re-Import Claims
By Mardiyyah Abubakar Dangote Petroleum Refinery and Petrochemicals has dismissed claims that its petroleum products are exported to Lomé and later re-imported into Nigeria. In a statement, the company described the allegation as misleading and unsupported by facts, trade data, or commercial realities. Although the refinery said it does not usually respond to baseless claims, […]
SEC Bans IPO Marketing for Dangote Refinery Offer
By Oluwakemi Kindness The Securities and Exchange Commission (SEC) has warned investors against a purported Initial Public Offering (IPO) involving Dangote Petroleum Refinery & Petrochemicals FZE, declaring that no such offer has been filed with or approved by the regulator. In a public notice issued on Tuesday, the Commission said it uncovered a wave of […]
Agama, Rwanda Signs Deal to Boost African Market Integration
By Oluwakemi Kindness Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has called for deeper integration of African capital markets, urging countries across the continent to strengthen collaboration, drive cross-border investments, and unlock Africa’s economic potential through a unified financial ecosystem. He made the call came as SEC Nigeria and Rwanda’s Capital […]