Author: Ogochukwu Ndubuisi

FG Unveils $500m Niger Delta Agric Investment Fund The Federal Government has unveiled plans to establish a 500-million-dollar Niger Delta Agricultural Development and Investment Fund to mobilise investment and accelerate agricultural transformation across the Niger Delta region. The proposed fund is designed as a commercially driven investment platform to finance projects across the agricultural value chain, including oil palm, aquaculture, cassava, cocoa, rice, horticulture, livestock and marine resources. It is also expected to attract capital from multilateral development institutions, commercial financiers and private investors. Vice-President Kashim Shettima unveiled the initiative on Wednesday in Abuja at the launch of the Niger…

Shell Awards $518m Contracts to Indigenous Firms Shell Companies in Nigeria say it awarded contracts worth 518 million US dollars to indigenous companies in 2025, reinforcing its commitment to the growth of Nigerian content in the oil and gas industry. The company’s Communications Manager, Mrs Gladys Afam-Anadu, disclosed this in a statement on Tuesday. Afam-Anadu said that 123 indigenous companies were engaged across Shell’s operations and value chain within the year under review. She quoted Shell’s Vice President, Commercial, Rohan D’Souza, as saying the payments reflected strong support for Nigerian service providers operating within the company’s businesses. D’Souza said Shell…

Otti Directs Immediate Implementation of NYSC Allowances Gov. Alex Otti of Abia has directed the immediate removal of administrative bottlenecks delaying the implementation of the approved allowances of the members of the National Youth Service Corps (NYSC) serving in Abia. Otti gave the directive in his office, on Tuesday, while receiving the New State Coordinator of the National Youth Service Corps (NYSC), Mr Yunusa Tanimu, in Nvosi, Isiala Ngwa South Local Government Area. “I am surprised that the extra allowance that I approved had not been implemented. “Please, can you ensure that whatever it is is dealt with immediately. “The…

Ms Omolola Oloworaran, the Director-General of the National Pension Commission (PenCom)

The Federal Government (FG) says it remains committed to improving the ease of doing business

President Bola Tinubu has called on African countries to end their long-standing dependence on exporting

NRS, DigiTax Say e-invoicing to Curb Tax Leakages, Boost Transparency The Nigeria Revenue Service (NRS) says the introduction of electronic invoicing will improve tax compliance, reduce revenue leakages and enhance transparency in tax administration. Mr Mohammed Bawa, Project Leader of the NRS E-Invoicing Project, said this at the DigiTax E-Invoicing Compliance Breakfast Session held in Lagos on Tuesday. The hybrid event was organised by DigiTax, an NRS-accredited e-invoicing platform, to support ongoing stakeholders’ education and sensitisation on the mandate. The event had in attendance heads of tax and finance organisations, among other stakeholders. Bawa, who joined virtually, said the initiative…

Import Duty Exemptions Hit N34trn in 2025 – Customs The Comptroller-General, Nigeria Customs Service (NCS), Adewale Adeniyi, says the value of Import Duty Exemption Certificate (IDEC) approvals for imported goods and equipment rose to N34 trillion in 2025. The Senate Committee on Finance also threatened the heads of the Nigerian Civil Aviation Authority (NCAA), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) etc. with sanctions for failing to appear before it. Speaking during the committee’s investigative session with revenue-generating agencies on Monday, Adeniyi said government policies had, at different times, affected the revenue-generating capacity of the NCS, both…

South Africa Proposes Compulsory Fuel Stocks to Prevent Crises South Africa is proposing a revamp of its strategic fuel storage capability requiring mandatory reserves from both the state and private ​sector to mitigate supply crises, a policy document showed. Global energy supplies and prices have been under pressure for months due to an ongoing crisis in the Middle East that has choked off the Strait of Hormuz, a key oil and liquefied natural gas transit route. The proposals, outlined in a document from the Department of Mineral and Petroleum Resources, would ⁠make it mandatory for all licensed oil and fuel…

Nigeria Hits 104% of OPEC Quota as Oil Production Rises Nigeria’s crude oil and condensate production soared to an average of 1,735,398 barrels per day in the month of June 2026, representing positive growth for a 4th consecutive month. According to the crude statistics, released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Sunday, in the month under review, crude oil production hit 1. 56 million barrels per day (mbpd) The report showed that 0.18mbpd of condensates was produced. This means Nigeria met 104 per cent of the 1.5mbpd crude oil production quota set by the Organisation of Petroleum…