Tag: Federal Government

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

Aminu Imam
FG set for revenue boost

…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…

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’33 States, over 14, 000 communities at high flood risk in 2026′ – FG warns

Aminu Imam
FG warns on flooding

The Federal Government has revealed that 226 local government areas in 33 states of the federation and the Federal Capital Territory (FCT) fall within the high flood risk areas identified in 2026. The Minister of Water Resources and Sanitation, Joseph Utsev, stated this yesterday, during the public presentation of the ‘2026 Annual Flood Outlook’ by the Nigeria Hydrological Services Agency at the State Banquet Hall of the Aso Villa, Abuja. “Fourteen thousand, one hundred and eighteen communities in 266 local government areas in 33 States and the FCT fall within…

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FG removes import duties on electric vehicles, transit buses

Aminu Imam
FG removes import duties

Federal Government has granted a waiver on import duties for electric vehicles and mass transit buses as measures to ease inflation caused by the ongoing Middle-East crisis on Nigerians and boost affordability. The development is contained in a statement in an 𝕏 post on Monday, by the Special Assistant to the President on Social Media, Dada Olusegun. Olusegun noted that the move was part of the new fiscal measures aimed at easing economic pressure on Nigerians and curbing inflationary pressures following the President’s directive to key economic officials. Olusegun said…

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Cement price hits ₦12,000, as fuel, logistics costs soar

Aminu Imam
Cement price hike

Stakeholders in cement distribution have blamed the surge in cement prices on rising fuel and transportation costs, citing global geopolitical tensions as a major factor. According to some of the stakeholders, including the Ondo State Commissioner for Commerce, Industry and Cooperative Services, Pastor Bola Ademuwagun, attributed the recent increase in cement prices in Nigeria from about ₦11,000 and ₦11,500, depending on location, to around ₦12,000 per bag to rising energy and logistics costs. Ademuwagun said that although factory production costs remain relatively stable, high petrol prices have significantly increased the…

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FG names 48 individuals, groups ‘linked’ to financing terrorism

Aminu Imam
FG names terrorism financiers

The Federal Government has released a list of 48 individuals and groups allegedly linked to terrorism financing in Nigeria, as authorities intensify efforts to curb the flow of funds to violent networks. The list, published yesterday by the Nigeria Sanctions Committee, includes individuals and entities suspected of supporting terrorism-related activities across the country. Among those named are individuals reportedly connected to organisations such as the banned Indigenous People of Biafra (IPOB) and Islamic State West Africa Province, (ISWAP). The publication forms part of ongoing counter-terrorism measures aimed at identifying and…

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“Nigeria remains safe” – FG faults US travel advisory

Aminu Imam
FG faults US travel advisory

The Federal Government has faulted the travel advisory issued by the United States, urging Nigerians and the international community that the country remains safe for residents and visitors. This is even as the U.S ordered the evacuation of non-emergency staff and their families from its embassy in Abuja. Recall that the U.S Department of State had issued a travel advisory on Thursday, citing worsening security conditions across Nigeria in its latest advisory, urging its citizens to reconsider travel to the country over concerns including crime, terrorism, kidnapping, and civil unrest.…

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TUC urges FG to reintroduce subsidy amid fuel price hike

Aminu Imam
TUC urges FG

The Trade Union Congress of Nigeria (TUC) has called on the Federal Government to deploy excess crude oil revenue to subsidise local refineries as a way of cushioning the impact of rising fuel prices on Nigerians. President of the Congress, Festus Osifo, who made the call during a press briefing in Abuja on Thursday, warned that the price of Premium Motor Spirit (PMS), popularly called petrol, could climb to as high as ₦2,000 per litre if urgent measures were not taken. Osifo said the persistent increase in the pump price…

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W’Bank warns of fiscal strain, as FG rolls out ₦4tr power bond

Aminu Imam
W'Bank on power bond

The World Bank has raised concerns over the Federal Government’s ambitious ₦4 trillion bond programme aimed at settling longstanding debts in Nigeria’s power sector, warning that the initiative could create significant fiscal risks if not carefully integrated into national budget frameworks. The global lender noted that while the bond programme provides short-term liquidity relief to power generation companies (GenCos) and gas suppliers, it effectively converts decades-old arrears into formal sovereign debt obligations that must be fully accounted for in government finances. The programme, launched under the Presidential Power Sector Debt…

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“Nigeria not on brink of collapse” – FG insists

Aminu Imam
FG debunks 9ja collapse

The Federal Government has refuted claims that Nigeria is on the brink of collapse, stating that the country remains stable, resilient, and on a clear path to recovery and growth. Minister of Information and National Orientation, Mohammed Idris, made this known yesterday at the 81st General Assembly and 23rd Annual General Meeting of the Broadcasting Organisations of Nigeria (BoN), held at the Hawthorn Hotel and Suites, Abuja. “I want to unequivocally refute the insinuation that Nigeria is on the brink. On the contrary, we are daily exhibiting resilience and tackling…

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Resident doctors suspend strike after deal with FG

Aminu Imam
Resident doctors suspend strike

The National Association of Resident Doctors (NARD) yesterday announced the suspension of its planned nationwide strike following an understanding reached with the Federal Government on key demands. The association said the decision followed commitments by the government to address pressing issues affecting doctors, including the payment of outstanding allowances and improved welfare. The resolution to suspend the industrial action was reached during an emergency meeting of the association’s National Executive Council. Naija News understands that at the meeting, members reviewed assurances presented by government representatives and agreed to give ongoing…

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