HomeTagsFAAC

Tag: FAAC

Nigeria’s Reliance on Fuel Import Rises 69% in June – Report 

Nigeria’s Reliance on Fuel Import Rises 69% in June - Report  The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) recent report has revealed that over sixty-nine percent of total petrol consumed in Nigeria in the month of June, 2025 was imported. According to the NMDPRA...

The North’s Chance to Drive Nigeria’s Economic Turnaround, by Umar Farouk Bala

For northern governors, this is not just a policy change — it is an economic summons. The North has the land, labour, and enterprise to thrive, but for too long has been trapped in a narrative of scarcity. That excuse no longer holds.

Oil Tax Revenue Rises 41.7% to N3.69tn

Oil Tax Revenue Rises 41.7% to N3.69tn Improved crude oil production and better compliance from oil companies have pushed Nigeria’s oil tax revenue to N3.69tn in the first half of 2025. This represents a 41.7 per cent increase over the N2.604tn collected in the same period...

Fuel Imports Surge to 71% as Marketers Abandon Local Refineries

Data from the downstream regulator of the oil sector has revealed that marketers have resumed large-scale importation of refined petroleum products, choosing not to patronise local refineries.

FG’s FX Windfall Crashes by 73% to N589bn in Six Months

FG's FX Windfall Crashes by 73% to N589bn in Six Months   Revenue from foreign exchange rate gains crashed by 73 per cent in the first half of 2025, falling to N589.45bn from N2.199tn recorded in the same period of 2024, signalling a major shift in...

From Farm to Foreign: Nigeria’s Economic Missteps, By Shamsudeen Ibrahim

From Farm to Foreign: Nigeria's Economic Missteps By Shamsudeen Ibrahim When former President Muhammadu Buhari and his late Chief of Staff, Abba Kyari, championed the mantra "We must eat what we produce," critics dismissed them as out of touch. The administration enforced border controls, restricted food...