Shell Plc has signed an agreement to sell its entire interest in Shell Nigeria Gas (SNG) Group to Nigerian energy company Vaaris Energy, as the oil major continues to streamline its portfolio and focus on strategic investments. The company announced the transaction on Tuesday, October 13, 2026, noting that completion remains subject to regulatory approvals and other conditions. The financial terms of the deal were not disclosed. The sale covers Shell Nigeria Gas Holding B.V., established in 2019, which holds all but one of the shares in Shell Nigeria Gas Limited. The transaction aligns with Shell Chief Executive Officer Wael…
Author: Elvis Eromosele
The National Agency for Food and Drug Administration and Control (NAFDAC) has seized counterfeit alcoholic beverages valued at more than ₦2 billion following a raid on the International Trade Fair Complex in Lagos. The agency said the operation, conducted by its Investigation and Enforcement Directorate, was based on credible intelligence about illegal activities within the complex. According to a statement published on NAFDAC’s official X account on Tuesday, operatives uncovered more than 20 illegal stores allegedly concealed within makeshift parking spaces at the market. The stores were reportedly used to counterfeit popular alcoholic beverage brands, revalidate expired or unsafe drinks…
The National Pension Commission (PenCom) is tightening enforcement against employers who fail to remit workers’ pension contributions, introducing an automated system to calculate penalties as total recoveries from defaulting employers reached ₦36.6 billion by July 2026. Omolola Oloworaran, PenCom Director-General, disclosed this on Tuesday at the commission’s 2026 Annual Media Conference in Abuja, where she said the new system would strengthen compliance with the Pension Reform Act. Under the system, penalties are automatically calculated for employers seeking a Pension Clearance Certificate (PCC). Employers with outstanding pension remittances will be unable to obtain the certificate until they settle the required penalties…
Nigeria exceeded its Organisation of the Petroleum Exporting Countries (OPEC) crude oil production quota by 2 per cent in September, sustaining its compliance with the target for the fifth consecutive month in 2026. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said the country produced an average of 1.53 million barrels of crude oil per day in September, against its OPEC quota of 1.5 million barrels per day. Eniola Akinkuotu, NUPRC’s Head of Corporate Communications, disclosed in a statement that Nigeria’s average daily production of crude oil and condensate rose by 2.34 per cent from the previous month to 1,717,030 barrels…
Nigeria’s National Single Window (NSW) project has increased the processing of import licences and permits by between 20 and 30 per cent, with more than 156,000 processed since the platform’s launch in March 2026. The development signals growing adoption of the government’s digital trade platform, which is designed to simplify import and export procedures, reduce paperwork and improve cargo clearance. Tola Fakolade, Project Director of the National Single Window, disclosed this during a media briefing in Abuja on Tuesday, saying the initiative had completed its first phase and was preparing to move into the second phase, which will focus on…
The Nigerian Communications Commission (NCC) has registered about 231 million telecommunications devices as it begins implementing a verification system aimed at blocking counterfeit, cloned and unapproved phones from accessing mobile networks. The initiative is designed to strengthen consumer protection, improve network quality and enable regulators to track telecommunications devices imported and sold in Nigeria. Edoyemi Ogoh, Director of Technical Standards and Network Integrity at the NCC, disclosed this during a media briefing on the implementation of the Device Checker and Type Approval Compliance framework in Abuja on Tuesday. Ogoh said devices already operating on Nigerian telecommunications networks had been automatically…
The Federal Government has directed Ministries, Departments and Agencies (MDAs) to procure vehicles assembled in Nigeria, warning that institutions that fail to comply could face sanctions. The directive is aimed at boosting local automobile manufacturing, creating jobs and reducing the country’s dependence on imported vehicles. By requiring public institutions to patronise domestic assemblers, the government hopes to provide a more reliable market for locally produced vehicles and encourage investment across the automotive value chain. The policy could benefit vehicle assemblers, component manufacturers, spare-parts suppliers and automotive service providers, while supporting skills development and technology transfer. However, the extent of these…
Africa must balance the push for cleaner energy with the urgent need to expand electricity access, reduce poverty and drive economic growth, Professor Ekundayo Peter Mesagan of Pan-Atlantic University has said. Mesagan made the case at the university’s 26th Inaugural Lecture, titled “Making Lemonade from Lemons: The Fossil Energy & Sustainability Puzzle,” held at the Honeywell Group Auditorium of Lagos Business School. A Professor of Energy and Environmental Economics in the university’s School of Management and Social Sciences, Mesagan examined the challenges facing oil-producing and developing countries as they navigate the transition to cleaner energy without undermining economic development. He…
The National Information Technology Development Agency (NITDA) has donated HP OmniBook laptop computers to the National Association of Women in Colleges of Education (WICE) and enrolled 1,135 of its members in online digital literacy courses to strengthen technology adoption in teacher education. The initiative is aimed at improving the digital capabilities of women educators, boosting administrative efficiency and promoting technology-driven teaching and learning across Nigeria. Kashifu Inuwa, CCIE, NITDA Director-General, announced the interventions at the 30th Annual National Conference of WICE, held in Bichi, Kano State. The conference was themed “Dual Mandate: Global Impact; Reimagining Teacher Education for Sustainable Development.”…
Peter Obi,, former Anambra State Governor and presidential candidate of the Nigeria Democratic Congress (NDC), has challenged the World Bank’s positive outlook on Nigeria’s economic growth, arguing that improving macroeconomic indicators have yet to translate into better living conditions for citizens. Obi made the remarks on Monday, October 12, 2026, in a statement titled “Celebrating Microeconomic Stability Amidst Increasing Poverty,” published on his official X account. His comments followed the World Bank’s upward revision of Nigeria’s economic growth forecast to 4.3 per cent in 2026, from 4.0 per cent in 2025. The institution projects annual growth of 4.4 per cent…