Category: Business

Shocking Reasons Why Nigeria and European Union Embark on High-Level Abuja Meeting

Tolu Adebayo

Nigeria, EU to Deepen Cooperation: High-Level Abuja Meeting Targets Security, Trade, & Development Abuja, Nigeria – The Federal Republic of Nigeria and the European Union are poised to hold a significant Senior Officials Meeting in Abuja on July 1st and 2nd, 2025. This crucial two-day gathering aims to lay the groundwork for an upcoming Nigeria-EU Ministerial Meeting and extensively explore avenues for enhanced cooperation across multiple vital sectors. According to a statement from the Delegation of the European Union to Nigeria and ECOWAS, the high-level discussions will be co-chaired by Ambassador…

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This is Why Nigerians May Not Have to Pay Tax – FG

Tolu Adebayo

Nigeria: FG Proposes N250,000 Monthly Earning Tax Exemption Under New Fiscal Laws Abuja, Nigeria – The Nigerian government is set to exempt households earning N250,000 or less per month from personal income taxes under a new fiscal policy framework. This significant announcement was made by Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, on Thursday, following President Bola Tinubu’s assent to four pivotal tax bills. Speaking on Channels Television’s ‘Politics Today,’ Oyedele clarified that the primary objective of these new laws, slated to take effect…

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Nigerian Business Titan & Philanthropist Aminu Dantata Dies at 94

Tolu Adebayo

Nigerian Business Titan & Philanthropist Aminu Dantata Dies at 94 Alhaji Aminu Alhassan Dantata, one of Nigeria’s most revered billionaires, philanthropists, and business magnates, has passed away at the age of 94. His death, confirmed on Thursday, marks the end of an era for a figure who profoundly shaped Nigeria’s commercial landscape and touched countless lives through his extensive philanthropy. His Personal Private Secretary (PPS), Mustapha Abdullahi Junaid, expressed profound grief in a message announcing the news: “Innalillahi wa inna ilaihi raji’un. It is with heavy heart that I announce…

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Tinubu pledges commitment to National Single Window’s Project

Shidali Khadijat Ajechi

President Bola Tinubu has reaffirmed his administration’s commitment to the National Single Window (NSW) project, stating that the digital trade platform is already improving trade efficiency across Nigeria. In a statement marking the second anniversary of his administration, Tinubu highlighted key reforms in the maritime and trade sectors as vital to his economic recovery strategy. He described these reforms as “undeniable progress” under the Renewed Hope Agenda. Tinubu noted that his administration has implemented targeted policies to strengthen Nigeria’s maritime and trade environment. These policies, he said, aim to increase…

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President Tinubu Launches National Credit Guarantee Company with N100 Billion Capital, Appoints Board

Tolu Adebayo

President Tinubu Launches National Credit Guarantee Company with N100 Billion Capital, Appoints Board Abuja, Nigeria – President Bola Ahmed Tinubu has officially established the National Credit Guarantee Company Limited (NCGC), a new financial institution aimed at expanding credit access and de-risking lending across Nigeria’s diverse business landscape. The Presidency announced the creation of the NCGC and the appointment of its board and management team in a statement released on Thursday. Backed by an initial capital injection of N100 billion, the NCGC is set to play a pivotal role in improving…

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Tinubu’s Reforms Drive Nigeria Customs Revenue to N1.3 Trillion in Q1 2025

Tolu Adebayo

This achievement marks a significant increase compared to the N600 billion revenue collected during the same period in 2023, more than doubling the previous figures. The Nigeria Customs Service (NCS) has achieved a historic revenue milestone of N1.3 trillion in the first quarter of 2025, primarily credited to the transformative reforms implemented by President Bola Ahmed Tinubu. This achievement marks a significant increase compared to the N600 billion revenue collected during the same period in 2023, more than doubling the previous figures. Comptroller-General of Customs, Bashir Adewale Adeniyi, highlighted that…

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Dangote Urges FG to Prioritize Local Investors

Shidali Khadijat Ajechi

The President of Dangote Group, Alhaji Aliko Dangote, has urged federal and state governments to prioritize local investors by creating an environment that supports their growth. He emphasized that local investors possess the capacity to generate employment and harness Nigeria’s abundant resources. While addressing participants at the Taraba International Investment Summit in Jalingo on Wednesday, Dangote highlighted how local investors, including his own companies, currently serve as significant sources of revenue for the federal government. He praised the Taraba State government for organizing the summit, describing it as timely. He…

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Reviving Nigeria’s Manufacturing Sector: Akpabio Calls for Urgent Action and Local Innovation

Tolu Adebayo

Reviving Nigeria’s Manufacturing Sector: Akpabio Calls for Urgent Action and Local Innovation In a passionate appeal to stakeholders, Senate President Godswill Akpabio has emphasized the critical need to breathe new life into Nigeria’s struggling manufacturing sector. Once a cornerstone of the nation’s economy, industries such as textiles and cash crops—including cotton, groundnuts, and palm oil—have experienced significant decline, leaving behind a trail of lost opportunities and economic challenges. Akpabio’s remarks underscore a growing consensus that revitalizing these sectors is essential for sustainable growth and self-reliance in Africa’s most populous country.…

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Dangote Clarifies: We’re Not in Competition with NNPC

Shidali Khadijat Ajechi

The President of the Dangote Group, Alhaji Aliko Dangote, has clarified that the Dangote refinery does not compete with the Nigerian National Petroleum Company Limited (NNPC). In a statement issued on Friday, NNPC spokesperson Olufemi Soneye disclosed that Dangote made this clarification during his visit to the new Group Chief Executive Officer of NNPC, Bayo Ojulari, in Abuja. Soneye explained that the visit formed part of ongoing efforts to build mutually beneficial partnerships and encourage healthy competition between NNPC and the Dangote refinery. Observers had previously noted signs of rivalry…

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African Leaders Unite: Urgent Call to End Abject Poverty in Africa

Tolu Adebayo

African Leaders Unite: Urgent Call to End Abject Poverty in Africa In a powerful display of unity and resolve, former Nigerian President Olusegun Obasanjo, Osun State Governor Ademola Adeleke, and the Ooni of Ife, Adeyeye Enitan Ogunwusi, have joined forces to demand an immediate end to abject poverty across the African continent. Their impassioned pleas, delivered during a leadership lecture hosted by media mogul Dele Momodu in Ibadan, Oyo State, highlight the urgent need for strategic action, drawing inspiration from global success stories and emphasizing the roles of education, leadership,…

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Petrol now N825 per Litre

Favour George

In a move that signals intensified competition in Nigeria’s domestic fuel market, the Dangote Petroleum Refinery has once again reduced the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to N825 per litre from its previous rate of N835 per litre. This latest price slash, announced by the refinery, marks the third reduction in recent weeks and comes as part of ongoing efforts to make locally refined products more affordable and competitive. Only last month, Dangote Refinery made two consecutive price cuts within a single week, lowering…

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Nigeria’s Tax Reform Bill Will Make Lives Better

Tolu Adebayo

Nigeria’s landmark tax reform bills, currently awaiting final approval from the Senate, are expected to deliver significant relief to millions of workers by increasing disposable income, reducing living costs, and safeguarding low-income earners. The reforms, championed by the Presidential Committee on Fiscal Policy and Tax Reforms, have already passed the House of Representatives and are poised to reshape the nation’s fiscal landscape. Dr. Taiwo Oyedele, Chairman of the committee, highlighted the bills as a game-changer for Nigeria’s workforce. In a statement, he emphasized that the proposed changes would exempt workers…

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