President Bola Tinubu has signed a new Executive Order suspending the collection of management and frontier exploration fees by the Nigerian National Petroleum Company Limited (NNPCL) and directing the full remittance of oil and gas revenues to the Federation Account. The directive, disclosed by the Federal Ministry of Finance, is aimed at plugging revenue leakages and restoring constitutionally compliant revenue flows amid declining inflows to the Federation Account. According to the ministry, the Executive Order: Suspends NNPCL’s collection of management and frontier exploration fees Mandates direct remittance of taxes, royalties, and profit oil under Production Sharing Contracts Halts payment of…
Author: Elvis Eromosele
Despite securing more than $2 billion in private sector investment commitments, the Federal Government has fallen short of its 2025 nationwide Compressed Natural Gas (CNG) infrastructure targets, raising concerns over implementation gaps and delivery timelines. Findings from checks across relevant agencies and industry stakeholders show that while funding commitments and policy backing remain strong, the pace of on-ground infrastructure rollout has lagged behind projections. The Presidential CNG Initiative (PiCNG), launched in 2023 following petrol subsidy removal, had announced plans to deliver: 500 conversion centres Over 150 CNG retail outlets by the end of 2025. However, data available on the initiative’s…
Ademola Lookman delivered a record-breaking performance on Wednesday night as Atlético Madrid played out a dramatic 3–3 draw with Club Brugge KV in their UEFA Champions League knockout phase play-off first leg. The Nigerian forward scored Atlético’s second goal in a pulsating six-goal encounter in Belgium, continuing his fine form since joining the Spanish side from Atalanta BC in January. According to Opta statistics, Lookman became The first player to score on his Champions League debut for Atlético since Héctor Herrera did so against Juventus F.C. in September 2019. The first starter to achieve the feat since Ángel Correa scored…
The Nigerian Communications Commission (NCC) has called on interested industry stakeholders to make written submissions to the Commission on the ongoing review of the National Telecommunications Policy (NTP) 2000, whose consultation paper has been published on the Commission’s website. The Commission has set Friday, March 20, 2026, as the deadline for all submissions from stakeholders to be addressed to the Executive Vice Chairman/CEO of the Commission or sent to the dedicated email: stakeholders@ncc.gov.ng. The consultation process, which is in exercise of the Commission’s functions under the Nigerian Communications Act (NCA), 2003 and upon the activation of the provisions of Section 24…
Nigeria’s leading telecommunications operators have pushed back against concerns raised in the Senate over the country’s capacity to support real-time electronic transmission of election results, insisting that the infrastructure is firmly in place. Major operators, MTN Nigeria, Airtel Nigeria, Globacom, and T2 Mobile, described claims of inadequate network coverage as misleading. They urged lawmakers to rely on verified industry data rather than what they termed “half-truths” about the state of Nigeria’s telecom infrastructure. The operators challenged the Senate to obtain accurate coverage statistics from the industry regulator, the Nigerian Communications Commission (NCC), warning that unverified statements risk distorting public understanding…
By Elvis Eromosele Lagos does not wake up smelling foul. It is made to. On a recent drive past a popular bus stop, I saw a commercial bus driver leaning casually against the back of his danfo, relieving himself in full public view. A few metres away, commuters stood waiting for their ride, some covering their noses, others pretending not to notice. The smell hung stubbornly in the air. Yet, we ask: Why do bus parks stink? One can walk into many of our well-known markets, Oshodi, Mile 12, Oyingbo, Ajah, Ikotun and even parts of Balogun, before you see…
Warner Bros. Discovery has rejected a revised hostile takeover bid from Paramount Skydance but says it remains open to reviewing a final, improved offer. In a statement released Tuesday, Warner Bros said it secured a seven-day waiver from Netflix allowing discussions with Paramount Skydance through February 23, 2026. The waiver gives Paramount Skydance time to resolve outstanding issues and submit a binding “best and final” proposal. However, Netflix retains matching rights under its existing merger agreement with Warner Bros. Despite reopening talks, Warner Bros’ board reaffirmed its unanimous support for the Netflix merger, urging shareholders to vote in favour of…
Lagride has deployed a fresh batch of vehicles in Lagos under its Drive-to-Own programme, backed by a $100 million financing facility from United Bank for Africa (UBA). At a vehicle handover ceremony on Tuesday, the company said it aims to roll out 3,500 vehicles under the scheme as it scales operations. The Drive-to-Own initiative is designed to transition drivers, referred to as “captains”, from short-term rental arrangements to structured vehicle ownership. Eligibility is determined using verified performance data from a prior rental period, including: Service quality ratings Safety records Regulatory compliance Ride completion rates Customer feedback Operational discipline on the…
The Debt Management Office (DMO) plans to raise ₦800 billion at its February 2026 Federal Government bond auction, underscoring continued reliance on the domestic debt market despite borrowing costs remaining close to 20 per cent. According to the bond circular released Monday, the auction is scheduled for February 23, 2026, with settlement on February 25. The February programme includes: ₦400bn – 17.95 per cent FGN JUN 2032 (7-year re-opening) ₦300bn – 19.89 per cent FGN MAY 2033 (10-year re-opening) ₦100bn – 19.00 per cent FGN FEB 2034 (10-year re-opening) Total: ₦800 billion The structure shows a clear shift toward longer…
MTN Group has agreed to acquire IHS Holding Limited in an all-cash transaction valued at $6.2 billion, marking one of the largest digital infrastructure deals in Africa and a strategic reversal of years of tower divestments. Under the agreement announced Tuesday, IHS shareholders will receive $8.50 per share in cash. The offer represents: 239 per cent premium to IHS’s share price on March 12, 2024 (when it announced a strategic review) 36 per cent premium to its 52-week volume-weighted average price as of February 4, 2026 3 per cent premium to its unaffected closing price of $8.23 on that…