Author: Vardiafrica

Siminalayi Fubara, governor of Rivers, has withdrawn from the All Progressives Congress (APC) governorship primary in the state. Fubara announced his withdrawal from the contest in a statement he personally issued on Wednesday night, noting that he stepped down out of conviction and sacrifice for the state to move forward in peace and unity. “After deep reflection and extensive consultations with my family, friends, and associates, I have taken the difficult but necessary decision to withdraw from the APC gubernatorial primaries. I do so with a full heart and with a firm commitment to support whoever emerges as the candidate of…

Femi Otedola, chairman of First HoldCo, has revealed he will invest $100 million in Dangote refinery. He announced his plans on Wednesday after leading top executives of First HoldCo to Dangote refinery. Otedola’s planned investment is part of the $2 billion private placement Dangote refinery is targeting from private investors ahead of the initial public offering (IPO), which has no date yet. “From on a personal note, I’ve appealed to him (Aliko Dangote). I’ve been here with him 25 times, so my compensation is he’s going to allocate to me shares worth $100 million in the private placement,” the billionaire…

The Central Bank of Nigeria has retained the country’s benchmark lending rate at 26.5 per cent as authorities intensified efforts to contain inflationary pressures and protect macroeconomic stability amid growing global economic uncertainties. Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced the decision on Wednesday at the end of the Monetary Policy Committee (MPC) meeting attended by all 11 members, saying the committee resolved to maintain the Monetary Policy Rate (MPR) following an assessment of domestic and global economic conditions. “The MPC recognises its transitory nature and remains confident that the current macroeconomic environment is sufficiently robust to…

In response to the recent Ebola Virus Disease situation in parts of Central Africa, the Federal Airports Authority of Nigeria (FAAN) has promised the travelling public and stakeholders that robust preventive measures have been put in place across all international airports. In a statement issued on Wednesday by its Director of Public Affairs and Consumer Protection, Henry Agbebire, FAAN, it said it was working in close collaboration with Port Health Services, the Nigeria Centre for Disease Control and Prevention (NCDC), and other relevant agencies to intensify surveillance and monitoring of passengers, particularly those arriving from high-risk regions. “Passengers are being…

Former Labour Party presidential candidate Peter Obi has emerged as the sole aspirant for the 2027 presidential ticket of the Nigeria Democratic Congress following the close of nomination form sales by the party. The party confirmed that the sale of Expression of Interest and Nomination Forms for the presidential election has officially ended, with Obi reportedly being the only politician to purchase the forms before the deadline. Sources within the party told the media that “Obi, a former governor of Anambra State, was the only aspirant who purchased the forms” for the presidential contest. The NDC, however, extended by one…

The university of Port Harcourt, represented by innovation Team PROTRONICS, and the University of Benin, by Team VHORDE, on Monday at the Nigerian Content Tower (NCT), Yenagoa, emerged winners from the South-South region in the Nigerian Engineering Olympiad (NEO). The competition is a nationwide engineering, innovation and entrepreneurship competition launched in 2025 by a non-profit organization, Enactus Nigeria, in partnership with the Nigerian Content Development and Monitoring Board (NCDMB), Renaissance Africa Energy Company Limited, First Exploration & Petroleum Development Company and the Nigerian Society of Engineers (NSE). The two teams eclipsed their counterparts from the Igbinedion University, Okada, Edo State,…

The Nigerian Content Development and Monitoring Board (NCDMB) is set to host the 2026 Oil & Gas Midstream & Downstream Stakeholders Summit. The event is scheduled to hold from May 19–20, 2026, at Four Points by Sheraton Lagos, Victoria Island, Lagos. The summit is designed to bring together key decision-makers, government officials, regulators, institutional investors, financiers, operators, and EPC contractors to explore emerging opportunities within Nigeria’s rapidly evolving midstream and downstream sectors. The summit will be hosted by the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe. Against the backdrop of the Petroleum Industry Act (PIA), which continues to strengthen transparency and create a more investor…

The Nigeria Revenue Service (NRS), in collaboration with the Joint Revenue Board (JRB), has announced the implementation of the taxpayer identification (tax ID) system. In a statement on Monday, the agencies said the development is in line with Sections 6, 7 and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in Nigeria to obtain a tax ID. According to the agencies, the initiative forms part of ongoing efforts to strengthen tax administration, enhance transparency, and improve service delivery across the nation’s tax system. “The Tax ID will serve as a single, unified identity for all…

The Nigeria Civil Aviation Authority (NCAA) has directed airlines, airport operators and other aviation stakeholders to intensify public health surveillance measures following the outbreak of Ebola Virus Disease (EVD) in parts of the Democratic Republic of Congo (DRC) and Uganda. In a circular dated May 18, 2026, the NCAA said the directive became necessary due to growing concerns over the spread of the disease and the critical role of the aviation sector in preventing cross-border transmission. The authority noted that although no confirmed case linked to the outbreak has been recorded in Nigeria, it is collaborating with the Federal Ministry…

Dangote Petroleum Refinery & Petrochemicals has announced a reduction in the price of aviation fuel, also known as jet A1, to N1,650 per litre from N1,750 per litre. In a statement on Tuesday, the refinery said the move is aimed at easing cost pressures on airlines and ensuring an uninterrupted petrol supply across the country. The refinery also introduced a 30-day interest-free credit facility for marketers and airline operators backed by bank guarantees (BG), while transitioning from a dollar-denominated pricing structure to a naira-based model. “This is in addition to a 30-day interest-free credit facility backed by bank guarantees (BG)…