Author: Vardiafrica

Dangote Refinery has cut its petrol gantry price by ₦25 per litre, from ₦1,350 to ₦1,325 per litre, in a fresh downward adjustment coming just nine days after the refinery’s last upward review. The latest price represents a 1.85% reduction in the ex-gantry rate. The refinery had raised the gantry price from ₦1,265 to ₦1,350 per litre effective September 12, adding ₦85 per litre to its previous rate. The latest reduction comes as international crude prices retreat, with Brent trading at $100.40 per barrel, down 3.34%, while WTI stood at $92.40, down 3.83% as of the latest market update. The…

The Niger Delta Development Commission, NDDC, has emphasised the importance of Alternative Dispute Resolution, ADR, in ensuring timely resolution of disputes for effective project delivery and sustainable development in the Niger Delta region. Speaking at the opening of a three-day sensitisation programme for Contractors and Consultants in Port Harcourt, the NDDC Managing Director, Dr Samuel Ogbuku, said disagreements could arise during project execution, but what mattered was how quickly and professionally they were resolved. The Managing Director, represented by the Executive Director, Corporate Services, Hon. Ifedayo Abegunde, said Alternative Dispute Resolution was important because every project was more than a…

President Bola Ahmed Tinubu has directed the Federal Government to develop a roadmap for the full launch of Nigeria’s Digital Free Zones initiative within 180 days. The directive was given to the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, who serves as Vice-Chairman and Implementation Coordinator of the Presidential Steering Committee on Digital Free Zones. According to a statement issued by Special Adviser to the President on Information and Strategy, Bayo Onanuga, the initiative is designed to help Nigerian technology and service companies raise global capital, employ Nigerians and serve international markets without relocating their businesses and intellectual…

The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has urged Niger Delta states to establish special economic zones. Ms Okonjo-Iweala made the call virtually on Tuesday at the Niger Delta Economic and Investment Summit in Port Harcourt. The summit, themed ‘Driving Investment, Innovation and Industrial Growth in the Niger Delta’, was organised by the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA). The WTO chief said the Niger Delta could become Nigeria’s next major industrial hub, alongside Lagos. She, however, said abundant natural resources alone could not guarantee development without effective policies and adequate infrastructure.…

The Federal Government and the Central Bank of Nigeria have signed a Memorandum of Understanding to institutionalise coordination between fiscal and monetary authorities and strengthen Nigeria’s macroeconomic management framework. The agreement was signed in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the CBN Governor, Olayemi Cardoso. The MoU provides a structured framework for regular consultation, information sharing and coordinated policy assessment between the Federal Ministry of Finance and the central bank. Under the framework, both institutions will strengthen collaboration on government cash management, debt issuance planning, liquidity forecasting, macroeconomic analysis and periodic…

The Managing Director of the Niger Delta Development Commission, NDDC, Dr Samuel Ogbuku, says the Commission will continue to invest in education, including building hostels, school facilities and equipment for educational institutions in the Niger Delta region. Ogbuku, who made this known during the World Literacy Day celebration in Port Harcourt, Rivers State, said it was important to keep empowering people in the region to become self-reliant and better prepared for sustainable livelihoods. The NDDC Chief Executive Officer, represented by the Director of Education, Dr Awele Chukwudifu, emphasised that education and literacy would equip people in the region to contribute…

French President Emmanuel Macron hosted President Bola Tinubu to a private dinner at the Élysée Palace in Paris on Thursday night, reaffirming Nigeria-France bilateral ties. The ‌⁠‍‍⁠⁠‌⁠‍‍⁠‍‍‌‌engagement reflected the enduring relationship between the two countries and their shared commitment to strengthening bilateral cooperation, according to the presidency. Presidential Spokesperson, Bayo Onanuga, disclosed this in a post on X on Friday. “French President Emmanuel Macron received President Bola Ahmed Tinubu for a private dinner Thursday night at the Élysée Palace, reflecting the enduring relationship between Nigeria and France and their shared commitment to strengthening bilateral cooperation,” Mr Onanuga said. The engagement…

The Minister of Interior, Olubunmi Tunji-Ojo, has ordered the immediate suspension of the Niger State Commandant of the Nigeria Security and Civil Defence Corps, Suberu Aniviye, following the deaths of over 30 suspected illegal miners in the state. The minister also ordered a full investigation into the incident, which reportedly occurred at the M.I. Wushishi/Lukoto axis of Minna, the state capital, in the early hours of Thursday. The suspension order was contained in a statement issued on Friday by the minister’s Special Adviser on Media and Publicity, Alao Babatunde. According to the statement, the suspected illegal miners were arrested during…

Federal government has set up a technical sub-committee to review the 2025 Tax Acts, tasking the body to search for possible implementation ambiguity, unintended consequences, where compliance can be simplified, and areas of improved investment and competitiveness. Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, who inaugurated the Technical Sub-committee on Fiscal Policy and Tax Reforms in Abuja, Thursday, said the exercise sought to review the implementation of existing fiscal and tax reforms and develop proposals that respond to current economic realities. Oyedele said the subcommittee will review key areas of the tax regime, such as…

The National Agency for Food and Drug Administration and Control, NAFDAC, has destroyed expired donated medicines valued at N59 million at the Igwuruta dumpsite along the Eneka-Igwuruta Road in Rivers State. NAFDAC said the medicines were brought into Nigeria from the United States through the Nigerian Ports Authority Area 1 Port in Port Harcourt, where they were intercepted by the agency’s inspectors working with officials of the Nigeria Customs Service. The expired products were contained in a 40-foot container and included antidepressants, anti-ulcer drugs, painkillers, hypertension medicines and medical consumables. Speaking during the destruction exercise on Sunday, NAFDAC Director for the…