CBN Halts Export Proceeds Repatriation Extension The Central Bank of Nigeria (CBN) has suspended approvals for the extension of export proceeds repatriation on behalf of exporters, effective immediately. This directive, issued via a circular dated January 8, 2025, applies to both oil and non-oil export transactions. The...

Inflation may Drop to 27% by December – Report Nigeria’s inflation rate is projected to decline to 27.1 per cent by December 2025, according to the latest NESG-Stanbic IBTC Business Confidence Monitor report. This forecast offers a ray of hope to businesses and consumers struggling with...

NBS to Launch Rebased GDP Data End of January The National Bureau of Statistics (NBS) has revealed that the details of the newly rebased Gross Domestic Product will be launched at the end of the month. This was disclosed on Thursday at the sensitisation workshop on...

NCS, FIRS, NUPRC Spend N924.7bn on Revenue Collection in 11 months The cost of revenue collection by Nigeria’s key agencies – the Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Nigerian Upstream Petroleum Regulatory Commission (NUPRC) – continued to rise despite improved technology...

DisCos Pay TCN N137bn Amid Persistent Grid Collapses The 11 electricity distribution companies (DisCos) operating in the country paid a total of N137.06 billion to the Transmission Company of Nigeria (TCN) in the first nine months of 2024 as transmission and administrative charges, despite the...

Retailers to Begin Loading from P’Harcourt Refinery – PETROAN Barring any last-minute change in plans, marketers and retailers of petroleum products will lifting Premium Motor Spirit (petrol) from the Port Harcourt Refining Company this week. The Publicity Secretary of the Petroleum Products Retail Outlet Owners Association...