PENGASSAN opens talks with FG over executive order 9
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has opened talks with the federal government to clarify issues in Executive Order 9 (EO9) and protect the interests of oil and gas workers. The union warned that any misstep in implementing the order could destabilize the sector and impact the broader economy. PENGASSAN […]
Oil revenue: Nothing wrong with Tinubu’s order – Chairman State Finance Commissioners
The Chairman of the Forum of State Commissioners for Finance, Akintunde Oyebode, has defended President Bola Tinubu over his directive on oil revenue remittance. Speaking on Arise Television, Oyebode said there was nothing negative about the Executive Order aimed at strengthening the oil and gas sector. He explained that the directive seeks to improve revenue […]
Oil, Gas Executive Order: Federation account belongs to all tiers of govt – Ex-PENGASSAN President, Esele
Former Peter Esele, ex-president of PENGASSAN, has stated that the federation account is a collective resource that belongs to all tiers of government, not just one level. He made this remark while reacting to debates surrounding the new oil and gas executive order. He explained that revenue generated from natural resources is constitutionally meant to […]
Naira records highest depreciation against US dollar
The Nigerian currency has fallen to its weakest level yet against the US dollar, marking a new low that has raised fresh concerns among businesses and citizens. Analysts say the sharp drop reflects ongoing pressure from foreign exchange demand, limited dollar supply, and economic uncertainties. Financial observers note that currency depreciation can increase the cost […]
Why Ogun 2026 budget increased by 58 percent – Commissioner for Finance
The Ogun State government has explained the reason behind its sharp budget increase for 2026, saying the rise reflects strong economic growth and deliberate reforms. The Commissioner for Finance and Chief Economic Adviser, Dapo Okubadejo, stated during a media briefing in Abeokuta that the approved ₦1.669 trillion budget shows the state’s improving financial strength and […]
BUA Group Chairman, Abdul Samad Rabiu calls for shift from extraction to value addition
The Chairman of BUA Group, Abdul Samad Rabiu, has called for a major shift in Nigeria’s economic strategy, urging the country to move away from raw material extraction and focus more on value addition. He said Nigeria must begin processing its natural resources locally instead of exporting them in their raw form. Rabiu explained that […]
Naira continues to appreciate against US dollar as CBN directs FX sales to BDCs
The Nigerian naira has continued to gain value against the United States dollar following a new directive from the Central Bank of Nigeria (CBN). The apex bank instructed authorised dealers to sell foreign exchange to Bureau De Change (BDC) operators in a move aimed at improving dollar supply in the retail market. Financial analysts say […]
Naira closes week at N1,366.19 per dollar as Nigeria’s external reserves hit $46.91bn
The Nigerian naira closed the week at ₦1,366.19 per dollar at the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN). This came as Nigeria’s external reserves rose to $46.91 billion, reflecting improved foreign currency inflows into the country. CBN figures showed that the naira weakened slightly on Friday, slipping […]
Tinubu, Shettima meet World Bank delegation at State House
President Bola Ahmed Tinubu and Vice President Kashim Shettima have met with a senior delegation from the World Bank at the State House in Abuja. The meeting took place on Tuesday and reflects ongoing engagement between Nigeria and international development partners. The World Bank team was led by the Managing Director of Operations, Anna Bjerde. […]
FAAC shares N1.969tn as December revenue to FG, states, LGCs in Nigeria
The Federation Account Allocation Committee (FAAC) has distributed a total of N1.969 trillion as revenue for December 2025 to the Federal Government, state governments, and local government councils across Nigeria. The allocation was approved at the January 2026 FAAC meeting held in Abuja, according to a statement from the Office of the Accountant General of […]