Business

By Ayo Kehinde In January 2026, Nigerian states recorded a significant increase in their share of value-added tax (VAT) revenue, receiving a total of approximately ₦551 billion. This sharp increase followed the implementation of new tax laws that changed the VAT distribution formula between levels of government. The development marked the first full month that the revised revenue sharing agreement …

Lawmakers praise telecom sector’s progress as NCC defends ₦472 billion budget proposal for 2026 The National Assembly’s Joint Committee on Communications has commended the Nigerian Communications Commission (NCC) for the growth of the telecommunications sector as lawmakers approve the 2025 budget performance. Meanwhile, NCC has proposed a ₦472 billion budget for 2026. During a joint budget defense session of the …

These are sad times. Who could have believed that after the United States and its allies destroyed Iraq in search of “weapons of mass destruction” and found none, history would repeat itself as a farce?In neighboring Iran, 35 years after Operation Desert Storm, the United States launched a war with consequences, only this time without even the formality of UN …

Post views: 26 By Akila Matawal When Governor Umo Eno sent the list of commissioner candidates to the Akwa Ibom State Assembly for consideration, one name stood out: Elder Paul Bassey. The inclusion of the veteran sports journalist and accomplished football administrator was greeted with applause by those who mean well for the sports development of Akwa Ibom, and …

The Senate Committee on Public Accounts on Thursday summoned the former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, and his management team over an alleged N210 trillion discrepancy in its financial statements. The chairman of the committee, Senator Ahmed Wadada, announced the call at a press conference in Abuja. Wadada said the development …

The Human Rights Committee has renewed its call for the establishment of state police across Nigeria, saying the current centralized police structure has become excessive and ineffective in addressing growing insecurity. In a statement jointly signed by its National President, Comrade Yinka Folarin, and Secretary General, Comrade Idris Afees Olayinka, the civil rights group described the initiative as a vital …

By Ayo Kehinde The Federal Executive Council (FEC) has approved road infrastructure projects worth over ₦1.2 trillion across the country, including the demolition and redesign of the Carter Bridge in Lagos, as part of efforts to modernize Nigeria’s transport network and boost economic connectivity. Briefing State House Correspondents after the Federal Executive Council meeting chaired by President Bola Tinubu on …

Nigeria’s foreign exchange reserves recorded a sharp increase by the end of 2025, with net reserves reaching $34.80 billion, according to Central Bank Governor Olayemi Cardoso. In a statement issued by the CBN on Monday, Cardoso explained that gross and net reserves showed “significant increases by the end of 2025, reflecting stronger external sector fundamentals and ongoing policy reforms.” He …

COAS directs NASME to intensify mission-oriented training for more effective combat The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, has tasked the Nigerian Army School of Military Engineering (NASME) to support rigorous, mission-oriented training in order to produce highly competent engineers capable of providing effective combat support in theaters of operation. The COAS gave the directive on Wednesday, …

Investors lost $101 billion on Wednesday as sell-offs in key stocks pushed the Nigerian stock market back into negative territory after two days of gains. Massive profit taking in Dangote Sugar, Jaiz Bank, CAP, Union Dicon Salt and Haldane McCall weighed on the overall market performance. At the close of trading, the market capitalization of the Nigerian Exchange Ltd. (NGX) …