Business Archives - Voice of Liberty NG

“Kaduna attracts over US$3.5bn in investment commitments since ’03” – Gov. Sani

August 7, 2026August 7, 2026 Aminu Imam

Governor Uba Sani has disclosed that Kaduna State has attracted over US$3.5 billion in investment commitments since the beginning of his administration in 2023. The Governor made this known in a goodwill message at the 2nd Nigeria–Saudi Diaspora Investment & Tourism Exhibition Summit 2026, held at the Shehu Musa Yar’Adua Centre, Abuja. The two-day summit, attended by the Vice-President, Senator Kashim Shettima, GCON, alongside government officials, investors, diplomats, business leaders, and development partners, focused on strengthening economic cooperation, trade, tourism, and investment between Nigeria and the Kingdom of Saudi Arabia.…

Ɗangote lowers petrol price to ₦1,165, diesel to ₦1,570

August 6, 2026August 6, 2026 Aminu Imam

Ɗangote Petroleum Refinery has announced a fresh reduction in the ex-depot prices of petrol and diesel, lowering the cost of Premium Motor Spirit (PMS) to ₦1,165 per litre and Automotive Gas Oil (diesel) to ₦1,570 per litre. The new pricing, announced on Wednesday, reduces the ex-depot price of petrol by ₦50 from ₦1,215 per litre, while diesel falls by ₦80 from ₦1,650 per litre. The refinery said the adjustment forms part of its efforts to make refined petroleum products more affordable, improve access to fuel and support economic activity across…

“Many airlines risk collapse within 30 days”, Onyema warns

August 6, 2026August 6, 2026 Aminu Imam

The Vice-Chairman of the Airline Operators of Nigeria, Allen Onyema, has warned that many domestic airlines could go out of business within the next 30 days unless the Federal Government urgently addresses the challenges confronting the aviation industry. Onyema, who is also the Chairman of Air Peace, gave the warning yesterday at the launch of the book: ‘Pathways, Pilgrimage & Destiny: The Biography of Alhaji Muneer Bankole’, which was held in Lagos. He described the aviation industry as capital-intensive but less rewarding, warning that airlines are facing serious threats to…

‘FG earned ₦24tr from crude exports in 6 months’ – CBN

August 4, 2026August 4, 2026 Aminu Imam

…As refiners kept waiting Nigeria’s crude oil exports generated an estimated ₦24.02 trillion in the first six months of 2026, reinforcing the country’s dependence on crude sales for foreign exchange even as domestic refiners continued to complain about inadequate feedstock. An analysis of production and export data compiled from the Central Bank of Nigeria (CBN) shows that the country exported about 182.2 million barrels of crude between January and June. Using the average monthly price of Bonny Light crude and an exchange rate of ₦1,365 to the dollar, those exports…

“Poor maintenance culture hurting Nigeria’s infrastructure, economy” — Okonjo-Iweala

August 4, 2026August 4, 2026 Aminu Imam

The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has said Nigeria’s poor maintenance culture is diminishing the value of the country’s infrastructure and slowing its economic development. Okonjo-Iweala stated this yesterday while delivering the keynote address at the ‘2026 Delta State Economic and Investment Summit’, in Asaba the state capital. Speaking on the theme: ‘Harnessing Our Strengths, Unlocking Our Potentials’, the former Minister of Finance said budgetary allocations alone would not translate into development without effective execution and proper maintenance of infrastructure. “The fact is that endowments…

FG’s debt hits ₦12.62tr, exceeds 2024 borrowing target by ₦4.79tr

July 30, 2026July 30, 2026 Aminu Imam

The Federal Government exceeded its 2024 borrowing target by ₦4.79 trillion, raising ₦12.62 trillion in fresh debt against the budgeted ₦7.83 trillion, according to the ‘Budget Office’s Fourth Quarter and Consolidated Budget Implementation Report’. The report attributed the increased borrowing to a revenue shortfall that widened the fiscal deficit to ₦13.51 trillion, far above the approved ₦9.18 trillion. Government revenue stood at ₦20.98 trillion, missing the ₦25.88 trillion target by ₦4.90 trillion, while expenditure remained largely on track at ₦34.49 trillion, just ₦561.29 billion below budget. Domestic borrowing met its…

Customs agents threaten protest over alleged manipulation by shipping firms

July 30, 2026July 30, 2026 Aminu Imam

Members of the Association of Nigerian Licensed Customs Agents (ANLCA) have threatened to stage a protest over the alleged manipulation of ship manifests by some shipping companies, warning that they will expose those responsible if urgent action is not taken. Former ANLCA vice-president, Kayode Farinto, accused the Mediterranean Shipping Company (MSC) and Hapag-Lloyd of engaging in practices that create serious challenges for importers and licensed customs agents while allegedly encouraging corruption in the cargo clearance process. The agents said the practice could disrupt port operations and further weaken the country’s…

Ɗangote set to donate one-third of his $35.1bn fortune to charity

July 29, 2026July 29, 2026 Aminu Imam

Africa’s richest man, Aliko Ɗangote, plans to donate one-third of his fortune to charitable causes as part of his succession plan, according to his daughter, Halima Ɗangote. Speaking in an interview with Bloomberg, Halima, who serves as a trustee of the Aliko Ɗangote Foundation, revealed that the billionaire has already secured his family’s approval to dedicate 33 percent of his estate to philanthropy. With Ɗangote’s net worth currently estimated at $35.1 billion by the Bloomberg Billionaires Index, the planned donation would be worth about $11.7 billion. Halima explained that philanthropy…

FG seeks fresh investors for Northern oil exploration, as 13 frontier blocks get no bids

July 23, 2026July 23, 2026 Aminu Imam

Four years after the Federal Government announced a major oil discovery at Kolmani and pledged over $3 billion in investments, 13 oil blocks across the Chad Basin, Benue, Benin and Niger-Delta have failed to attract investors during the 2025 Licensing Round. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said only 37 of the 50 blocks offered received bids, while the remaining 13 would be returned to the licensing pool. Although the regulator described the exercise as successful, industry experts said investors deliberately avoided high-risk frontier basins in favour of producing…

NNPCL increases petrol price to ₦1,270

July 22, 2026July 22, 2026 Aminu Imam

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of Premium Motor Spirit, popularly known as petrol, at its retail stations. A market check yesterday showed that NNPCL outlets in Abuja and nearby areas adjusted their petrol price from ₦1,155 per litre to ₦1,270 per litre. The latest adjustment represents an increase of N115 per litre by the state-owned oil company. The development comes as activities in Nigeria’s downstream oil sector continue to face uncertainty. Some NNPCL and MRS filling stations in Abuja were reportedly shut, while…