Media Service
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially launched the 2025 oil and gas licensing round, offering 50 blocks for bidding across five of Nigeria’s sedimentary basins, while emphasizing that only technically competent and financially capable firms will qualify. The move, the commission said, is designed to eliminate speculative participation and position Nigeria’s upstream…
President Bola Ahmed Tinubu on Monday left Abuja for a state visit to the Republic of Türkiye, as Nigeria moves to deepen diplomatic, economic and strategic ties with the country. The trip was disclosed by the Special Adviser to the President on Social Media, Dada Olusegun, in a post on X, where he outlined the…
The National Economic Council (NEC) is set to meet with the Presidential Fiscal Policy and Tax Reforms Committee, led by Taiwo Oyedele, to address concerns surrounding Nigeria’s new tax laws. This move aims to clarify and implement the tax reforms effectively, promoting economic growth and fairness. – Exemptions for Low-Income Earners: Individuals earning below N800,000…
The Dangote Refinery has significantly increased Nigeria’s domestic petrol supply by 64% to 32 million litres per day in December 2025, up from 19.5 million litres in November. This surge has led to a 19% decline in fuel imports, which fell to 42.2 million litres daily. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)…
The Federal Government of Nigeria announces that the country has been removed from the European Union’s list of high-risk third countries, marking a significant achievement in Nigeria’s economic reform agenda. This development, confirmed by the Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun, underscores Nigeria’s commitment to strengthening its anti-money laundering…
Nigeria’s inflation rate dropped to 15.15% in December 2025, a significant decrease from 34.80% in December 2024. The National Bureau of Statistics (NBS) attributes this decline to a methodological review and rebasing of the Consumer Price Index (CPI). Key Highlights: – Food Inflation: Dropped to 10.84% year-on-year, with prices of staples like tomatoes, garri, eggs,…