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Nigerian Content hits historic 61%, NCDMB targets manufacturing room
Board plans nationwide capacity audit, new vendor development programme Warns firms against withholding statutory local content fund remittances Says faster project approvals critical to sustaining industry growth Nigeria’s 15-year drive to deepen indigenous participation in the oil and gas industry…
Low oilfield activity level threatens petroleum production targets – PETAN
Says weak project pipeline, capacity redundancy, funding gaps challenge targets Despite commitments by major international oil companies to invest an estimated $45 billion in Nigeria’s upstream petroleum sector, low oilfield activity and underutilisation of existing industry capacity continue to threaten…
NERC blames court ruling for ₦2tn electricity subsidy burden
ays 2016 judgment constrained regulatory powers, deepened subsidy exposure • Lagos begins implementation of independent electricity market under new law Nigerian Electricity Regulatory Commission (NERC) has disclosed that a court ruling in 2016 contributed to government’s subsidy exposure currently valued…
Nigeria Customs rakes in N7.3trn to exceed 2025 revenue target by 10.2%
Nigeria Customs Service (NCS) says it has already exceeded its 2025 year-on-year revenue projection as it generated N7.277 trillion so far this year. The service said it had projected a revenue of N6.584 trillion for 2026 but has now exceed…
Nnorom to replace Elumelu as UBA appoints new Group Chairman
United Bank for Africa (UBA) Plc has confirmed that its Group Chairman, Tony O. Elumelu, will retire from the Board of Directors on August 21, 2026, after completing the 12-year tenure limit for non-executive directors. The bank also announced the appointment…
Nigeria, UNDP, REA launch first phase of Africa Minigrids Programme for rural communities
Nigeria has launched the Africa Minigrids Programme (AMP), a renewable energy initiative aimed at expanding electricity access to underserved communities, stimulating rural economies and accelerating the country’s transition to clean energy. The Africa Minigrids Programme is being implemented through a partnership involving…
FG moves to unify digital platforms for business registrations
Federal Government, through the Presidential Enabling Business Environment Council (PEBEC), has unveiled plans to create a unified digital platform that will allow Ministries, Departments and Agencies (MDAs) to securely share information on requests by entrepreneurs across the country to register their…
BOI appoints capital firm to manage $170.6m iDICE Fund for Nigerian Startups
Bank Of Industry (BOI) has appointed the Kuramo Capital Management as Fund Manager of the $170.6 million iDICE Fund. The iDICE Fund of Funds is a landmark investment vehicle aimed at expanding venture capital financing for technology and creative start-ups across…
NELFUND disburses N21.7bn in two months, as total payments reach N303.91bn
Nigerian Education Loan Fund (NELFUND) says it has so far disbursed an additional N21.71 billion to benefitting students in the country. According to the agency which manages the tertiary student loan scheme, the disbursement was between May 5 and July 3,…
