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Nigerian civil servants have demanded an immediate 400 per cent increase in the national minimum wage to counter severe economic hardship. The Joint National Public Service Negotiating Council announced the position following a two-day national retreat in Osogbo, Osun State. Union leaders insist the current N70,000 monthly baseline leaves public workers entirely unable to cope…
Nigerian factories are carrying the heaviest fiscal burden for a cash-strapped state. The manufacturing sector contributed N404 billion in corporate and value-added taxes during the first quarter of 2026. Data from the National Bureau of Statistics show that factory owners remain the largest domestic source of non-oil state revenue. This fiscal feat comes despite a…
Nigeria’s petrol imports rose sharply by 59.5 percent in May as oil marketers turned back to foreign suppliers to shore up domestic inventory. The latest operational data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority reveals that daily inbound shipments of Premium Motor Spirit climbed to 5.9 million litres, up from 3.7 million litres…
The Federal Government released comprehensive transition guidelines to steer corporate taxpayers through the implementation of its overhauled national tax framework. The Federal Inland Revenue Service published the administrative manual to eliminate market confusion and prevent operational disruptions across key sectors. The new fiscal regime introduces structural changes to corporate income tax thresholds, value-added tax collection…
Nigeria’s mega-refinery has delivered a rare piece of deflationary news to the domestic energy market. Dangote Petroleum Refinery has slashed the ex-depot price of petrol by six percent, shaving N75 off the cost of a litre. This commercial adjustment responds directly to a sharp drop in global crude benchmarks over the last 48 hours. For…
Armed men have launched a deadly assault on the National Institute for Policy and Strategic Studies in Plateau State. The attackers stormed the elite facility in Kuru near Jos late on Monday night. Three security operatives lost their lives whilst defending the nation’s foremost policy centre. This bold raid on a highly guarded federal establishment…
The Federal Government has launched the National Malaria Strategic Plan (2026–2030), aiming for a 50 per cent reduction in malaria prevalence and mortality rates by 2030. The Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate, alongside the Minister of State, Dr. Iziaq Adekunle Salako, announced the ambitious timeline during recent high-level public…
Nigeria’s aggregate hydrocarbon output surged to an 11-month high in May 2026, forcing the country to marginally exceed its official production quota under the Organisation of the Petroleum Exporting Countries (OPEC). Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Thursday shows that daily crude oil extraction averaged 1,530,354 barrels, alongside an extra…
The Senate has passed the Factoring Assignment and Receivables Financing Bill, 2026, to grant small businesses access to a 50 billion dollar continental trade finance market. The upper chamber voted to concur with an earlier version passed by the House of Representatives, successfully establishing the first comprehensive legal framework for debt factoring in Nigeria. This…
The Senate has abolished the fixed ten naira per litre excise duty on sugar-sweetened beverages across Nigeria. Lawmakers voted to replace the rigid volume-based tariff with an adjustable percentage-based tax tied directly to retail prices. The legislative shift follows the adoption of a comprehensive report by the Joint Committee on Finance and Customs, Excise and…
