IMF Warns Nigeria Against Restoring Petrol Subsidy
B: Mardiyyah Abubakar The International Monetary Fund (IMF) has urged the Federal Government not to restore a blanket petrol subsidy, recommending targeted support for vulnerable households affected by rising fuel prices. The Fund warned that broad fuel subsidies place pressure on public finances, cost governments significant revenue and often benefit higher-income consumers more than poorer […]
Reps Seek Single-Digit Interest Loans for Nigerian SMEs
By Mardiyyah Abubakar The House of Representatives has urged the Federal Government to establish an emergency funding scheme offering small and medium-sized enterprises (SMEs) loans at single-digit interest rates to reduce borrowing costs and support business growth. The lawmakers also called on the Central Bank of Nigeria (CBN) to review lending policies and risk-pricing measures […]
FG, World Bank Push for Better Returns on Public Spending
By Oluwakemi Kindness The Federal Government and the World Bank Group have stressed the need for public spending to deliver measurable economic and social benefits, identifying power infrastructure and human capital as investment priorities. The position followed a meeting between Finance Minister Taiwo Oyedele, Central Bank of Nigeria Governor Olayemi Cardoso and World Bank Group […]
FG Moves to End Multiple Fees, Overlapping Regulations
By Oluwakemi Kindness The Federal Government is moving to eliminate duplicate regulatory requirements, multiple fees and unnecessary procedures imposed on businesses by government agencies in a bid to reduce operating costs and attract investment. Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the plan during a meeting with heads of agencies […]
YPP Faults FG’s 30-Day Fuel Price Cut as Political Gesture
By Anayo Akwitti The Young Progressives Party (YPP) has criticised the Federal Government’s 30-day fuel price reduction, describing it as a temporary political gesture that fails to address the underlying causes of Nigeria’s economic hardship. In a statement signed by its National Publicity Secretary, Comrade Egbeola Wale Martins, the party said the intervention offered only […]
NLC Gives FG Two Weeks to Cut Petrol Prices, Review Wages
By Chinedu Echianu The Nigeria Labour Congress (NLC) has given the Federal Government a two-week ultimatum to reduce petrol prices, commence renegotiation of the national minimum wage and implement outstanding agreements with health and public sector workers. The ultimatum, which takes effect from Friday, October 9, 2026, also covers the implementation of the Terms of […]
FG Offers 30-Day Petrol Discount at NNPC Stations
By Oluwakemi Kindness The Federal Government has announced a 30-day margin discount on petrol sold at NNPC Limited stations nationwide, with public transport operators to receive priority under the arrangement. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the measure on Thursday in Abuja at a news briefing on fuel […]
FG Cuts Late Tax Payment Interest Rate
By Oluwakemi Kindness The Federal Government has reduced the interest charged on late payment of taxes in naira from five percentage points above the Central Bank of Nigeria’s Monetary Policy Rate to one percentage point. The new rate takes effect from October 1, 2026, according to a statement on Thursday by the ministry. The Minister […]
FG Commends South-East Governors for Infrastructure Support
By Sulyman Gobir The Federal Government has commended South-East governors for supporting infrastructure and other development projects under the President Bola Tinubu administration. Minister of Works David Umahi gave the commendation on Tuesday in Abuja while receiving a report on a nationwide project tour by the leadership of the National Association of Nigerian Students (NANS). […]
FG Pays ₦1.1bn Exit Benefits to 175 Retiring Civil Servants
By Oluwakemi Kindness The Federal Government has started paying additional exit benefits to retiring civil servants, with about ₦1.1 billion already paid to 175 retirees. The National Pension Commission (PenCom) disclosed this in a statement on Friday, saying the beneficiaries exited the Federal Public Service between January 1 and August 31, 2026. Under the Federal […]