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FG, states, LGs share N2.3tn for May FAAC revenue
Federation Account Allocation Committee (FAAC) has shared a total of N2.300 trillion among the federal government, states and local governments (LGs) in the country. The figure represents revenue the May 2026 Federation Account, a drop from the total of N2.257 trillion…
PenCom, trade union plan pension coverage for 9m transport workers
Industry regulator, the National Pension Commission (PenCom) and the National Union of Road Transport Workers (NURTW) have commenced discussions on a partnership aimed at enrolling an estimated nine million transport workers into the Personal Pension Plan under Nigeria’s Contributory Pension…
MTN makes over 80% of revenue in Nigeria, others — CEO, warns against continued xenophobic attacks in SA
MTN Group President/Chief Executive Officer, Mr. Ralph Mupita, has disclosed that the company draws over 80 per cent of its total revenue from Nigeria and other countries elsewhere, and only less than 20 per cent from South Africa itself. This…
S/African labour unions warn workers to shun anti-migrant protests
Ahead of the June 30 planned nationwide protests by several anti-migrant activist groups in South Africa against African migrants, the country’s biggest labour platforms have warned workers to shun the marches. The labour unions stated that it will not guarantee…
FG dismisses IMF’s recommendation to introduce telecoms, petrol taxes in Nigeria
Federal Government says it has not adopted the International Monetary Fund (IMF) recommendation to the country to introduce petrol and telecommunications taxes in order to shore up revenue. Government also stated that it is not considering new taxes on telecommunications…
Naira undervalued by 25.6% — IMF, tells CBN to slow foreign reserves’ accumulation
International Monetary Fund (IMF) has stated that the Nigerian currency, Naira, is undervalued by as much as 25.6 per cent, noting that the fair exchange rate against the U.SDollar should be N1,142.04/$. The official forex rate stands at N1,356.27/$ as of…
CBN offers N450bn NTBs for auction, Wednesday, as overall maturities for Q2 ’26 remain at N3.197trn
Central Bank of Nigeria (CBN), Wednesday, put up for offer a total of N450 billion worth of Nigerian Treasury Bills (NTBs) for auction for todayJune 17, with the settlement date set for June 18. An official notice to Primary Money Market…
Nigeria to launch 100-channel free TV service, as DSO kicks off
Nigeria is set to launch FreeTV on June 17, 2026, a national digital television platform aimed at expanding access to television services across Nigeria without monthly subscription costs. According to a post on its X handle by the Presidency, the initiative…
Time for African to achieve technical capability is now __NCDMB
The Executive Secretary of the Nigerian Content Development and Monitoring Board, Engr. Felix Ogbe, has called on African oil-producing nations to leverage the continent’s vast hydrocarbon resources to build indigenous technical capabilities for exploration, field development and production activities. Ogbe…
FG to prioritise improved gas delivery to local consumers, targets sustained investment, others
Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has disclosed that the Federal Government is ramping up efforts to transform the country’s vast natural gas reserves into a powerful engine for industrial growth. This is also as the minister stated…
