The Federal Government has dismissed reports suggesting it plans to introduce new taxes on petroleum products and telecommunications services, clarifying that recommendations contained in the International Monetary Fund’s (IMF) latest Article IV Consultation Report do not constitute government policy. The clarification came amid public concern following the IMF’s suggestion that Nigeria consider extending Value Added Tax (VAT) to fuel products and reintroducing excise duties on telecommunications services as part of efforts to boost government revenue. In a statement issued by Maryann Duke, Senior Special Assistant on Communications and Press to the Minister of Finance and Coordinating Minister of the Economy,…
Author: Elvis Eromosele
Nigeria has launched FreeTV, a new national digital television platform that will give households access to more than 100 television channels without any monthly subscription fees, marking a major milestone in the country’s transition from analogue to digital broadcasting. The Presidency disclosed the development ahead of the platform’s official rollout on June 17, describing it as a key component of Nigeria’s Digital Switch-Over (DSO) programme aimed at expanding access to quality digital broadcasting services nationwide. According to the Federal Government, FreeTV will provide viewers with clearer picture quality, improved sound, and a wider variety of television content at no recurring…
Mrs. Ebelechukwu Nwachukwu, the incoming Chairman of the Nigerian Insurers Association (NIA), has called for stronger collaboration between insurers, banks, fintechs and other financial institutions as Nigeria’s insurance industry enters the final stretch of its recapitalisation exercise under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. Nwachukwu, who will be formally installed as the 27th Chairman of the NIA on July 3, said the sector is at a critical turning point, with operators working to meet the July 2026 recapitalisation deadline set by the new law. Speaking at a pre-investiture briefing in Lagos, she described NIIRA 2025 as one of…
The philanthropic arm of MTN Nigeria, the MTN Foundation, has disclosed that it has invested more than N32 billion in social intervention programmes since its establishment in 2004, impacting over 32 million Nigerians across thousands of communities nationwide. The disclosure was made by Joseph Akpata, Manager, Development Portfolio at the MTN Foundation, during an Anti-Substance Abuse Programme (ASAP) stakeholders’ conference held in Ilorin, Kwara State. Akpata said the Foundation has executed projects in education, healthcare, economic empowerment, and capacity building, reaching beneficiaries in more than 30,600 communities and about 90 local government areas across the country. “Since we started in…
The Central Bank of Nigeria (CBN) has announced a N450 billion Nigerian Treasury Bills (NTBs) auction, scheduled for Wednesday, June 17, with settlement set for June 18, sparking questions over a discrepancy with the Debt Management Office (DMO)’s revised borrowing programme, which earmarked as much as N1 trillion for the June auction. The auction notice, issued to Primary Money Market Dealers (PMMDs), indicates that investors will bid for Treasury Bills across three maturities under the Dutch Auction System. According to the CBN, the N450 billion offer comprises: N150 billion in 91-day Treasury Bills N50 billion in 182-day Treasury Bills N250…
Microsoft has urged Nigeria to move from artificial intelligence policy development to practical implementation, stressing that the true value of AI lies in delivering measurable benefits for government, businesses, and citizens. The call was made by Mrs. Nonye Ujam, Microsoft’s Director of Government Affairs for West Africa, during the AI Summit Nigeria held in Abuja. The summit, organised by Microsoft in partnership with the National Information Technology Development Agency (NITDA) and MTN Nigeria, was themed “From Policy to Progress: Accelerating Responsible AI Adoption for Nigeria’s Digital Decade.” Speaking at the event, Ujam acknowledged Nigeria’s efforts in developing frameworks to support…
Meta has announced that its social media platform, Threads, has surpassed 500 million monthly active users, marking a significant milestone in its rapid rise as a major player in the global social networking landscape. The company disclosed the achievement on Tuesday, while also unveiling a suite of new features designed to strengthen user engagement and make communities on the platform more interactive and accessible. According to Meta, the platform’s growth has been largely driven by vibrant communities built around shared interests such as sports, books, parenting, music, and lifestyle conversations. Meta said the latest milestone underscores the growing demand for…
Nigeria’s food inflation rate remained higher than the country’s headline inflation rate for the second consecutive month in May 2026, underscoring the growing pressure of rising food costs on households despite signs of moderation in broader inflation. Data analysed by Nairametrics Research from the National Bureau of Statistics (NBS) Consumer Price Index (CPI) reports showed that food inflation rose to 16.96 per cent in May, compared to the headline inflation rate of 15.93 per cent. The development confirms a worrying trend that emerged in April 2026 when food inflation surpassed headline inflation for the first time in eight months. In…
By Elvis Eromosele Step outside your home in Lagos, Kano, or Port Harcourt, and walk twenty meters. Under a frayed umbrella, seated on a plastic chair with a small banner, you will find a “POS operator.” These operators are the capillaries of Nigeria’s cash-dependent economy, pumping naira notes into the hands of millions. When commercial bank branches shrank, and automated teller machines (ATMs) consistently ran dry, these retail entrepreneurs stepped in. They brought financial services within reach of the poorest farmer and the busiest market woman, effectively humanising fintech for tens of millions of citizens. But today, the street-corner cash…
Nigeria’s mango industry could be on the verge of significant growth as the National Horticultural Research Institute (NIHORT) intensifies efforts to boost production, reduce post-harvest losses, and expand value addition across the mango value chain. With the global mango trade valued at approximately $4.19 billion, according to Tendata Global Trade Data, NIHORT is positioning Nigeria to capture a larger share of the lucrative market through improved production techniques, indigenous seed development, and processing innovations. Speaking on the institute’s ongoing interventions, Prof. Muhammed Lawal Atanda, NIHORT Executive Director, described mango as one of the institute’s priority crops because of its enormous…