Business

The Bola Ahmed Tinubu-led federal government has decided to engaged with the National Union of Petroleum and Natural Gas Workers (NUPENG) and the Dangote Refinery over their face-off. The federal government is appealing to NUPENG to suspend its planned nationwide strike scheduled to begin on Monday, September 8, 2025. Confirming the government’s decision to resolve the dispute on Sunday, the …

The Petroleum Products Retail Outlet Owners Association of Nigeria and the Independent Petroleum Marketers Association of Nigeria have asked President Bola Tinubu and other stakeholders to intervene in the dispute between the Nigeria Union of Petroleum and Natural Gas Workers and the Dangote Refinery. But the Nigeria Labour Congress, while also calling for urgent intervention in the stand-off, accused the …

India’s state oil giant has turned to Nigerian and Middle Eastern supplies in its latest crude purchases, bypassing the United States as trade tensions with Washington escalate. According to trading sources quoted by Reuters, the Indian Oil Corporation (IOC) skipped US crude in its latest tender, instead buying two million barrels from Nigeria and another one million barrels of Abu …

Picture this scenario: It’s just after dawn at a filling station. A tired-looking commercial motorcyclist counts his crumpled notes carefully before handing them over. But the fuel attendant shakes his head gently and tells him the money will no longer buy what it used to. The rider forces a smile, but his eyes can see the reality that fuel has …

The Federal Government has made Tax Identification, (Tax ID) compulsory for people getting involved in banking and allied services in the country. Consequently, all taxable Nigerians are to obtain a Taxpayer Identification when the new tax Acts come into force in January 2026. The Tax ID is contained in the provisions of the Nigeria Tax Administration Act, 2025, Part II …

The average price of refilling a 12.5kg cylinder of Liquefied Petroleum Gas, LPG, otherwise known as cooking gas dropped by 17.4 percent on a month-on-month, MoM basis, to N11,875 in August 2025 from N14,375 in July. On a year-on-year, YoY basis, the average retail price declined by 16.7 percent from N14, 261.57 recorded in the corresponding period of 2024. Meanwhile, …

Nigerians buying petrol will pay additional N45 for each litre of fuel they purchase come 2026 if the price remains unchanged at the rate of N900. This is due to the provision of a five percent surcharge in the 2025 Nigeria Tax Administration Act on refined petroleum products in a bid to promote the use of clean energy. The five …

The Nigerian government has said it will introduce a new petrol consumption tax starting January 2026. This means that Nigerians will pay a 5% levy — equivalent to N500 for every N10,000 spent on petrol. The measure is designed to discourage fossil fuel use and encourage citizens to adopt cleaner energy sources. The tax will be collected at the point …

The Federal Government has announced plans to privatise or concession at least 91 state-owned enterprises, including the Ajaokuta Steel Company, Tafawa Balewa Square (TBS), Lagos Trade Fair Complex (TFC), the country’s four refineries, and five international airport terminals. Director-General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Ariyo Gbeleyi, disclosed this yesterday in Abuja, noting that each transaction would …

Nestlé has dismissed its chief executive, Laurent Freixe, after an investigation into an “undisclosed romantic relationship” with a subordinate that was found to have breached its code of business conduct. The Swiss-headquartered multinational named Philipp Navratil as his replacement. Nestlé said Freixe’s departure after 40 years at the company followed an investigation overseen by its chair, Paul Bulcke, and lead …