Economy/Business

Economy/Business

Digitalisation: FG unveils enterprise content management system to transform oil sector

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The Nigerian government has launched a critical digital transformation initiative by implementing an Enterprise Content Management (ECM) system at the Ministry of Petroleum Resources, a strategic move to enforce efficiency, accountability, and a paperless environment in a ministry vital to national revenue and energy security. This deployment is a flagship effort to meet a mandatory, government-wide digitalization deadline by year’s end, representing a fundamental shift in work organization and secure records management across the federal civil service. The system’s success hinges on disciplined adoption by

Economy/Business

Experts allay fears of Nigeria losing tax data sovereignty to France

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Expert analysis clarifies that Nigeria’s tax agreement with France is a standard technical cooperation pact for capacity building, not a surrender of sensitive data sovereignty. Public concern stems more from institutional distrust than the agreement’s substance, which aligns with global frameworks for knowledge transfer and IT support. While caution is warranted to ensure collaboration remains strictly technical, such partnerships are essential for modernizing Nigeria’s revenue administration. The core value lies in leveraging international expertise to strengthen domestic tax systems without compromising national financial sovereignty.

Economy/Business

Reps Committee pledges speedy probe of  alleged discrepancies in Tax Reform Acts

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A Nigerian parliamentary committee is urgently investigating critical discrepancies between the tax laws passed by the legislature and the officially published versions, signaling a potential breakdown in legislative procedure. This probe aims to restore legal certainty and public trust by ensuring the nation’s tax reforms are implemented exactly as enacted. The committee’s commitment to a swift resolution underscores the high-stakes nature of reconciling these errors, which is fundamental to maintaining the integrity of the country’s legal and fiscal framework. Ultimately, this action is a direct defense of constitutional

Economy/Business

Mohammed resumes as Authority Chief Executive of NMDPRA

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A leadership transition at Nigeria’s key oil and gas regulator, the NMDPRA, signals a commitment to stability and reform under President Tinubu’s administration. The orderly handover from Farouk Ahmed to the new Chief Executive, Saidu Mohammed, emphasizes institutional continuity and adherence to governance protocols. This change at the helm is a critical move to ensure accountability and effective oversight in the strategically vital midstream and downstream petroleum sectors. The seamless transition aims to maintain regulatory momentum and bolster investor confidence during a period of

Economy/Business

Customs nears end to physical cargo checks at Apapa

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The Nigeria Customs Service is poised to eliminate physical cargo inspections at Apapa Port by deploying advanced FS6000 scanners, marking a critical modernization milestone. This transition to a paperless, non-intrusive clearance system aims to dramatically improve trade efficiency and align with global best practices. With final test runs complete and readiness at 80%, the initiative signifies a major operational shift for the nation’s busiest port. The successful implementation will hinge on coordinated efforts to address the final components for a seamless launch.

Economy/Business

Ondo Assembly passes 2026 appropriation bill of N524bn

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The Ondo State Assembly has passed a significantly expanded 2026 budget of N524 billion, reflecting a N31 billion increase from the governor’s initial proposal and prioritizing capital projects with a 58% allocation. This “Budget of Economic Consolidation” underscores a strategic shift toward infrastructure and development spending over recurrent expenses. Crucially, the legislature has committed to rigorous oversight of implementation to ensure tangible public benefits, while simultaneously mandating government agencies to boost internally generated revenue to support these ambitions. This process highlights

Economy/Business

FG signs MOU with RSE energy to provide off-grid power for industrial clusters

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The Nigerian government has partnered with RSE Energy Nigeria to deploy off-grid and embedded power solutions, specifically targeting biomass and gas, to address the critical energy deficit plaguing the nation’s industrial clusters. This strategic initiative, aligned with national policy, will pilot at the Idu Industrial Cluster in Abuja, aiming to provide reliable, decentralized energy to boost industrial productivity and economic growth.

Economy/Business

China mining federation rejects ‘infiltration’ claims

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The China Mining Federation of Nigeria has categorically denied allegations of illegal mining and terrorism financing, framing Chinese operations as lawful partners committed to transparency, local investment, and environmental protection. However, these claims are directly contested by a separate report detailing widespread illegal mining by foreign nationals, which cites severe environmental damage, revenue loss, and potential links to armed groups. This juxtaposition reveals a critical disconnect between the official narrative of cooperative development and on-the-ground reports of systemic exploitation and weak governance. The core issue is

Economy/Business

Customs: Tincan Island Command records N1.57trn revenue in 2025

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The Tincan Island Customs Command exceeded its 2025 revenue target by N51.8 billion, generating N1.57 trillion through disciplined policy reforms rather than chance. Key to this success was streamlining procedures—specifically removing redundant alerts and enhancing validation—which accelerated cargo clearance and reduced opportunities for abuse. The leadership emphasizes that transparent, predictable processes simultaneously drive revenue growth and trade facilitation by improving voluntary compliance. This achievement demonstrates that robust enforcement and efficient facilitation are complementary, not conflicting, objectives in modern

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