Author: Staff Reporter
NMDPRA to Accelerate Gas Distribution for Industrialisation The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will enforce strict compliance while accelerating gas distribution to drive industrialisation and lower production costs nationwide. Mr Saidu Mohammed, Authority Chief Executive of the NMDPRA, made the disclosure on Friday in Port Harcourt during an inspection of petroleum and gas facilities in Rivers. Mohammed said the authority was committed to engaging operators across the midstream and downstream segments while providing the necessary regulatory support to achieve desired outcomes. He said the inspection of facilities formed part of the Federal Government’s commitment to…
Kogi Plans N50bn Sukuk To Fast-Track Airport, Market Projects Gov. Ahmed Ododo of Kogi on Thursday unveiled plans to raise a ₦50 billion sukuk bond to accelerate the state’s international airport and market projects. He said construction of the Kogi international airport and Lokoja international market would begin by March 2026. Ododo disclosed this at an investor engagement and market sensitisation forum held in Abuja. Represented by Commissioner for Finance, Mr Asiru Idris, the governor assured investors the sukuk would be asset-backed and strictly dedicated to infrastructure development. He said the bond aligned with Kogi’s 32-year development plan and was…
The Supreme Court has dismissed the trial of Major Hamza Al-Mustapha (rtd), the former Chief Security Officer (CSO) to the late Military Head of State, General Sani Abacha in the murder of late politician, Alhaja Kudirat Abiola.
International Breweries Names Nicholas Kade Managing Director International Breweries Plc (IBPLC) has announced the appointment of Mr Nicholas Kade as the its new Managing Director, effective March 1. The company made the disclosure in a statement signed by its Company Secretary, Temitope Oluwatosin, on Thursday in Lagos. It said the development was due to the transition of its current Managing Director, Mr Carlos Coutino, to another leadership position in its parent company, Anheuser-Busch InBev (AB InBev). The statement noted that Carlos Coutino had an impactful eight-year journey in Nigeria, having joined the company in 2018 as the National Sales/Trade Marketing…
Yobe Govt. Defrays N15.4 Billion Gratuities Backlog The Yobe Government on Wednesday said it has spent over N15.4 billion to clear the backlog of gratuities of the state and local governments’ retirees. Alhaji Baba Wali, the Secretary to the State Government (SSG) disclosed this at a press briefing in Damaturu, marking Gov Mai Mala Buni’s six years in office. He said with the payment, the state and local governments no longer owed any gratuity. Wali said the state had provided 250 operational vehicles and 500 motorcycles to the various security agencies to enhance their operations since 2019. The SSG said…
NCC Unveils 5-Year Spectrum Roadmap for Telecom Sector The Nigerian Communications Commission (NCC) has published a five-year Draft Spectrum Roadmap for the Communications Sector, which outlines a strategic framework for radio frequency spectrum management and allocation. The telecom regulator revealed a plan to align spectrum policy with the National Broadband Plan and the National Digital Economy Policy and Strategy (NDEPS), with a focus on driving inclusive digital growth and sustainable economic development. NCC plans to focus on four strategic pillars to steer its future spectrum choices. The primary pillar is dedicated to closing the digital divide, prioritising universal access for…
Oil Fields Dispute: Court Orders Parties to Maintain Status Quo The Federal High Court in Abuja, on Monday, ordered Mr Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), and others to maintain status quo pending the hearing and determination of a case involving four oil fields. Justice Emeka Nwite gave the order after Mr Ambrose Unaeze, who appeared for the plaintiffs; Hi-Rev Oil Limited and Hi-Rev Exploration and Production Ltd, moved the application to the effect. The 2nd and 3rd defendants in the suit, marked: FHC/ABJ/CS/2678/2025, are the Attorney-General of Federation (AGF) and Nigeria Upstream Petroleum Regulatory Commission (NUPRC).…
Nigeria Customs to Penalise Banks over Delayed Revenue Remittance The Nigeria Customs Service (NCS) says it will begin enforcing penalties against banks that default on remitting customs revenue. NCS`s Comptroller-General (C-G), Bashir Adeniyi, gave the warning in a statement by the spokesperson of the service, Abdullahi Maiwada, on Wednesday in Abuja. Maiwada said the move was in line with the provisions of the Service Level Agreement (SLA) executed between the NCS and designated banks. He said the service had observed cases of delayed remittances by some designated banks after reconciling collections processed through B’odogwu, its digital platform. Such delays, he…
Lagos Hosts Food Festival to Foster Growth across Agric. Value Chain The Lagos State Government has hosted the 5th edition of the annual Food Festival to foster growth across the various food spaces and the entire agro value chain. The event hosted by the State Ministry of Agriculture and Food Systems, held at the Muri Okunola Park, Victoria Island Lagos on Sunday. The event had in attendance food vendors and caterers across the Lagos agric space. In his address, the Lagos state Governor, Babajide Sanwo-Olu, commended the ministry’s effort to ensure all within the agriculture space thrive. “You have all…
Insurance Recapitalisation Closes Solvency Gaps, Deepens Stability The insurance industry is addressing long-standing solvency and capacity gaps through phased recapitalisation, a reform designed to strengthen underwriting capacity, restore public confidence and support broader economic growth. Operators say the Nigerian Insurance Industry Reform Act (NIIRA) 2025 provides a gradual transition that enables insurers to build capital sustainably, improve governance, enhance risk absorption and better protect policyholders. NIIRA 2025, enacted to support Nigeria’s ambition of building a one-trillion dollar economy, seeks to reposition the insurance sector for resilience, competitiveness and increased contribution to national development. Under the Act, minimum capital requirements have…