Business Archives - Voice of Liberty NG

FG approves ₦548.98bn for reconstruction of Carter Bridge

May 3, 2026May 3, 2026 Aminu Imam

Lagos’ iconic Carter Bridge is set for a ₦548.98 billion total rebuild after the Federal Government approved its demolition. Speaking after Thursday’s FEC meeting, Works Minister Dave Umahi explained that the “beyond repair” status of the bridge’s underwater infrastructure left the government with no other choice. Recall that the historic Carter Bridge—named after former British Governor, Gilbert Carter—is a lifeline for Lagos, bridging the gap between the Island and the mainland. Yet, despite its importance, the structure has been “on life support” for years, plagued by recurring safety concerns that…

Senate passes Nigerian Port Economic Regulatory Agency Bill

April 30, 2026April 30, 2026 Aminu Imam

After a long period of uncertainties, the 10th Senate has finally granted concurrence passage to the Nigerian Port Economic Regulatory Agency Bill 2026. The Bill was passed during plenary in Abuja on Tuesday. The passage followed a Motion moved by the Senate Leader, Sen. Opeyemi Bamidele and seconded by the Minority Leader, Sen. Abba Moro (Benue-South). The lawmakers had, before consideration, rescinded their earlier decision on the Bill, as previously passed and transmitted to the president for assent. Recall that the Bill was first passed by the 10th National Assembly…

“Too much corruption, they’ll never work again’ – Obasanjo slams NNPCL refineries, amid fresh revival plans

April 28, 2026April 28, 2026 Aminu Imam

Former President Olusegun Obasanjo has reignited debate over Nigeria’s troubled refining sector, declaring that the country’s state-owned refineries may never function effectively again due to deep-rooted corruption, poor maintenance, and structural inefficiencies. Obasanjo made the remarks during a televised interview aired at the weekend, as the Nigerian National Petroleum Company Limited (NNPCL) continues efforts to secure technical partners for the Port-Harcourt, Warri, and Kaduna refineries, with a target to conclude the process by June 2026. Drawing from his experience in office, the former president argued that government-run enterprises in Nigeria…

FG cuts food import tariffs to ease rising cost of living

April 26, 2026April 26, 2026 Aminu Imam

The Federal Government has announced a reduction in import tariffs on key food items in a bid to ease the growing economic pressure on households and businesses, as rising energy costs continue to drive inflation across the country. The measures, unveiled on 24 April 2026, include lower duties on essential staples such as rice, sugar and palm oil, as well as selected industrial inputs. The policy forms part of broader efforts to curb soaring prices and stabilise supply. The move comes amid a sharp increase in fuel costs, with petrol…

‘Tinubu adding ₦82bn to Nigeria’s debt every single day’ – Report

April 25, 2026April 25, 2026 Aminu Imam

Nigeria’s public debt profile has come under fresh scrutiny, following data suggesting that the administration of President Bola Ahmed Tinubu is accumulating an average of about ₦82 billion in new debt daily, driven largely by a combination of external borrowings and financing arrangements secured within the first 114 days of 2026. The figures, compiled by Statisense from multiple datasets, including Policy and Advocacy Centre (PLAC), GOV.UK, the World Bank, and the African Development Bank (AfDB), indicate that Nigeria secured approximately ₦9.39 trillion in new foreign financing between January and April…

FG to grant local airlines discount on debts owed Aviation agencies

April 24, 2026April 24, 2026 Aminu Imam

Minister of Aviation and Aerospace Development, Festus Keyamo, says the Federal Government has decided to grant domestic airlines discounts on debts owed aviation agencies. Keyamo said this in Abuja during a meeting with the Minister of State for Petroleum Resources (Oil), airline operators and other aviation stakeholders. Recall that the Airline Operators of Nigeria (AON) had earlier planned to suspend flight operations and increase airfares due to the high cost of Jet A1 fuel. According to the Minister, the percentage of the discount for domestic airlines will be determined by…

FG bans importation of paracetamol, other essential drugs

April 19, 2026April 19, 2026 Aminu Imam

The Federal Government has announced a sweeping ban on the importation of several essential goods, including widely used drugs such as paracetamol and other painkillers. The decision is part of a revised import prohibition list aimed at strengthening local industries and reducing pressure on foreign exchange. The updated directive, released by the Federal Ministry of Finance, and dated April 1, 2026, outlines seventeen categories of items that are no longer allowed into the country through any port. Observers say the move signals a tougher stance by authorities as they push…

Ɗangote moves to sell 10% refinery stake in pan-African IPO

April 19, 2026April 19, 2026 Aminu Imam

The Ɗangote Group has unveiled plans to divest a 10% stake in its 20 billion dollars, 650,000-barrel-per-day refinery through a Pan-African Initial Public Offering (IPO) scheduled for 2026. Aliko Ɗangote disclosed this at an event hosted by the Atlantic Council in Washington DC on Thursday. He said the planned share sale is aimed at supporting long-term investments while boosting participation in Africa’s capital markets. According to him, Ɗangote Petroleum Refinery and Petrochemicals FZE will pay dividends to shareholders in dollars after listing, although specific financial details of the planned offering…

FG set for revenue boost, as revenue surges to $113/b

April 17, 2026April 17, 2026 Aminu Imam

…Above Brent’s $96/b Nigeria’s revenue from crude oil is set to get a major boost, as its crude grades hit $113 per barrel yesterday, way above the international Brent’s $96 per barrel. As of 9:54a.m WAT, market data showed that Nigerian crude grades, Brass River and Qua Iboe, sold for $113.82 and $113.72 per barrel, respectively. On the other hand, Brent was sold for $96.54 per barrel, gaining just $1.61 (1.70%) from the last trading session on Wednesday. The development comes as Minister of Finance, Wale Edun, on Wednesday, on…

Airlines threaten shutdown, as aviation fuel crisis deepens

April 17, 2026April 17, 2026 Aminu Imam

The Airline Operators of Nigeria (AON) has warned that members may shut down operations from April 20 if the cost of Jet-A1 fuel is not urgently addressed. The association said prices have surged by more than 300%, jumping from about ₦900 per litre to approximately ₦3,300, a level it described as unsustainable for continued flight operations. According to the operators, fuel now accounts for the largest share of airline running costs, making it difficult to maintain schedules, pay suppliers, and keep ticket prices affordable for passengers. They cautioned that continued…