The Nigerian Bulk Electricity Trading (NBET) Plc has disclosed that only ₦60 million has been released from the ₦858 billion appropriated in the 2025 capital budget to bridge the electricity tariff shortfall — a revelation that underscores the deepening financial strain in Nigeria’s power sector. The disclosure was made by Johnson Akinnawo, Acting Managing Director…

In a landmark achievement for Africa’s energy industry, the Dangote Petroleum Refinery has announced that it is now operating at its full designed capacity of 650,000 barrels per day (bpd) — making it the first refinery in the world to attain this feat at this scale on a single train. The milestone was confirmed in…

The Federal Government has directed the National Agency for Food and Drug Administration and Control (NAFDAC) to suspend enforcement of its proposed ban on sachet-packaged alcoholic beverages, citing concerns over potential economic disruption and the need for broader consultations before a final policy decision is reached. The directive, issued through the Office of the Secretary…

In a renewed push to support entrepreneurship and reduce barriers to business formalisation, the Corporate Affairs Commission (CAC) has announced plans to provide free business name registration for 3,500 small enterprises across Nigeria. The announcement was made by the Registrar-General of the CAC, Hussaini Magaji, during activities marking the Commission’s 35th anniversary celebration in Abuja.…

The Nigerian naira sustained its resilient posture against the United States dollar as the second week of February 2026 commenced, reflecting continued stability in the foreign exchange market. Market watchers attribute the steady performance to a combination of sustained policy interventions, improved dollar liquidity, and cautious optimism among investors and traders. Despite ongoing global economic…

The Corporate Affairs Commission (CAC) has taken a major step to clean up Nigeria’s corporate registry, announcing that it delisted more than 400,000 inactive and non‑compliant companies from its official register during the year 2025. Registrar‑General Hussaini Magaji revealed the figures on Saturday during a Celebration Walk in Abuja, an event marking the commission’s continued…

Nigeria’s industrial value chain is poised for another major boost as the Dangote Refinery prepares to commence the production of surfactants, a critical raw material used in detergent manufacturing. The development was disclosed on Wednesday by David Bird, Chief Executive Officer of the Dangote Refinery, during a news conference, where he revealed that the refinery…

The Group Chief Executive Officer of NNPC Limited, Engr. Bayo Ojulari, has described the recent reopening of the Port Harcourt Refining Company (PHRC) as a waste of resources, raising serious questions about one of the federal government’s flagship efforts to revive Nigeria’s refining capacity. In statements made during a recent industry engagement, Ojulari criticised the…

Nigeria has entered into a landmark agreement with South Korea’s AEDC to establish Africa’s first electric vehicle (EV) manufacturing plant, marking a major step in the country’s push toward clean energy and industrial growth. The project aligns with Nigeria’s broader energy transition and automotive development strategies, and will also focus on building visible EV infrastructure…

The Federal Airports Authority of Nigeria (FAAN) has announced plans to temporarily close Terminal 1 of the Murtala Muhammed International Airport (MMIA), Lagos, beginning in March, to allow for a comprehensive rehabilitation of the facility. According to FAAN, the decision is part of a broader effort to address long-standing infrastructure challenges at the terminal, which…

The Federal Accounts Allocation Committee (FAAC) has disbursed a total of ₦1.969 trillion to the Federal Government, state governments and Local Government Councils (LGCs) from federation revenues accrued in December 2025. The allocation was announced in the official communiqué issued at the end of the FAAC meeting held in January 2026 in Abuja. Gross Revenue…