Economy

The Permanent Secretary of the Office of Urban Development, Mr. Gbolahan Oki, stated that the meeting was in line with Governor Babajide Sanwo-Olu’s directive that the process must be inclusive and transparent.“This is the first time in 15 years that government is holding this kind of meeting directly with you in your market. It shows the governor’s commitment to openness,” …

Skyway Aviation Handling Company (SAHCO) Plc has secured the contract to provide ground handling operations to Air Tanzania at Murtala Muhammed International Airport in Lagos State. SAHCO is providing comprehensive ground handling services, which includes Passenger Handling, Baggage Handling, Ramp Handling, Cargo Handling and Warehousing, and other aviation related services to Air Tanzania that would be flying from its hub …

Dangote Petroleum Refinery has disclosed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) demanded an annual subsidy of N1.505 trillion to enable members to match the refinery’s gantry prices at their own depots.The refinery stated that despite offering petroleum products to marketers at its gantry price, DAPPMAN insists on taking delivery via coastal logistics, which would add …

The Federation Account Allocation Committee (FAAC) has shared N2,225.118 trillion August 2025 Federation Account Revenue to the Federal Government, States and the Local Government Councils.The revenue was shared at the August FAAC meeting held in Abuja.A communique issued by the FAAC on Wednesday, September 17, 2025, said the N2,225.118 trillion total distributable revenue comprised distributable statutory revenue of N1,478.593 billion, …

The naira appreciated to N1,484.13 against the United States dollar in the official foreign exchange (FX) market on Tuesday, September 16, 2025.At the close of trading on Tuesday, the dollar was quoted at N1,484.13 against N1,497.46 recorded at the Nigerian Foreign Exchange Market (NFEM) on Monday.Data released by the Central Bank of Nigeria (CBN) showed a N13.33 appreciation for the …

Fire has gutted a commercial bank branch on Broad Street in the Lagos Island area of Lagos State.The fire outbreak at the bank was confirmed by the Lagos State Fire and Rescue Service on Tuesday, September 16, 2025.The service, in a statement shared on X, said its operatives are currently battling the inferno. Olajide disclosed that a distress call was …

Dangote refinery has delivered the first shipment of gasoline to the United States, marking a major milestone for the $20 billion facility. Reuters, in its reports cited shipping data and industry sources, the cargo of about 320,000 barrels was transported aboard the Panama-flagged vessel Gemini Pearl and arrived at the Port of New York on Sunday. The shipment was arranged …

Following the misleading information flying in the media space, the Federal Inland Revenue Service (FIRS) has clarified that Nigerians will not be required to obtain a separate Tax Identification Number (TIN) in order to open or operate bank accounts. The agency explained that the TIN system has been designed to work seamlessly with existing national identifiers such as the National …

The Nigerian Meteorological Agency (NiMet) has forecast rainfall and thunderstorms across the country from Monday to Wednesday, September 17, 2025. The agency made this diclosure via its weather outlook released on Sunday, September 14. NiMet predicted isolated thunderstorms with moderate rains in Kaduna, Gombe, Bauchi, Kebbi, Adamawa, and Taraba States on Monday morning. In the afternoon and evening, isolated thunderstorms …

A report released by the Nigerian Safety Investigation Bureau (NSIB) has indicted the pilot and co-pilot of an Air Peace aircraft for testing positive for hard drugs and alcohol after a runway excursion at the Port Harcourt International Airport.The incident occurred on Sunday, July 13, 2025, when the aircraft veered off the runway shortly after landing. While no casualties were …