Bokku Mart has issued a public apology after facing widespread criticism for a viral advertisement that many Nigerians condemned as ethnically insensitive. The controversy erupted when a female influencer, identified as Defolah, featured in a promotional video on the supermarket’s social media page on Tuesday, reports Saturday Vanguard. In the...
•Tinubu and ADC logo The African Democratic Congress (ADC) has strongly opposed President Bola Ahmed Tinubu’s approval of a 15 percent import duty on petrol and diesel because it may further deepen the economic hardship for Nigerians already burdened by the astronomically high cost of living, warning the president not to push the people to [&h...
•Taiwo Oyedele Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, has said the proposed 5% fuel surcharge (tax) will not be implemented until there is a significant improvement in key economic indicators, particularly an appreciation of the naira or a fall in global crude oil prices. Speaking at the [&h...
•Tinubu and fuel pump Petroleum marketers have warned that the pump price of Premium Motor Spirit, popularly called petrol, could exceed N1,000 per litre following President Bola Tinubu’s approval of a 15 per cent ad valorem import tariff on fuel imports. The new policy, which takes effect after a 30-day transition period expected to end [&hel...
•Power transmission line The federal government and investors in the Nigerian Electricity Supply Industry (NESI) have expressed differing views on whether state governments currently have the capacity to regulate electricity markets within their jurisdictions. The disagreement surfaced at an event in Abuja marking the 20th anniversary of the N...
•Tinubu President Bola Tinubu has approved a 15 percent ad-valorem import duty on diesel and premium motor spirit (PMS), also known as petrol. This was announced in a letter dated October 21, 2025, where the private secretary to the president, Damilotun Aderemi, conveyed Tinubu’s approval to the Federal Inland Revenue Service (FIRS) and the Ni...
•The Port Harcourt Refinery The Nigerian National Petroleum Company (NNPC) Limited has said that it is seeking technical equity partners to help revive three of its refineries, which have remained idle despite significant investments. Group Chief Executive Officer (GCEO) of the state oil company, Bayo Ojulari, said in a post on X today, that t...
•Naira notes Nigeria’s Money Supply (M²) dropped month-on-month (MoM) to about ₦118 trillion in September 2025. The Central Bank of Nigeria (CBN) disclosed this yesterday in its Money and Credit Statistics Data for September 2025, which indicated that the various components of the money supply recorded a decline during the period, except Curre...
Nigeria’s revenue and those of crude-dependent economies will experience a drop as oil prices slide again today, the third day since the start of the week. Drop in prices rode on the back of doubts about the effectiveness of Russia sanctions and a potential OPEC+ output increase, putting pressure on the market, reports Channels TV. […]...
The federal government through the Federal Inland Revenue Service (FIRS) said yesterday that it has directed banks, stockbrokers, and other financial institutions to deduct a 10 per cent withholding tax on interest earned from investments in short-term securities. Before this directive, short-term bills were tax-exempt to boost returns for inv...
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