Author: Vardiafrica

The House of Representatives has extended the implementation of the capital component of the 2025 Appropriation Act to September 30, 2026, following an emergency plenary session convened pursuant to Order Five, Rule 2(2) of its Standing Orders. The extension followed the adoption of a Bill for an Act to amend the Appropriation (Repeal and Enactment) Act, 2025, to extend the implementation of the capital component of the Appropriation Act, 2025, from June 30, 2026, to September 30, 2026 (HB. 2784), moved by the House Leader, Prof. Julius Ihonvbere, at plenary. The bill, titled “A Bill for an Act to Amend…

The African Democratic Congress (ADC) has named Rotimi Amaechi, former minister of transportation, as the running mate to Atiku Abubakar, its presidential candidate, for the 2027 elections.  Bolaji Abdullahi, ADC spokesperson, announced the decision in a statement issued on Monday. The announcement finally put to rest weeks of speculation about Atiku’s choice of running mate for the 2027 polls. Atiku won the ADC presidential primary in May. He polled 1,846,370 votes to defeat Amaechi, who got  504,117 votes Mohammed Hayatu-Deen, former managing director of the defunct FSB International Bank, came third with 177,120 votes. Abdullahi said the NDC national leadership picked Amaechi after “extensive consultations…

The federal government has commenced another phase of the mass trial of suspected terrorists. The prosecution team is led by Lateef Fagbemi, attorney-general of the federation (AGF), while Aliyu Abubakar, director-general of the Legal Aid Council of Nigeria, is leading lawyers representing indigent defendants. The suspects are facing charges bordering on terrorism, terrorism financing, and aiding and abetting insurgent activities. Proceedings on Monday are being conducted simultaneously in multiple courtrooms at the federal high court complex in Abuja, with several judges assigned to the exercise. The trial is expected to last one week. Some of the judges handling the cases…

The Nigerian Oil and Gas Park Scheme (NOGaPS) at Emeyal-1, in Ogbia Local Government Area of Bayelsa State will become operational by the fourth quarter of 2026, the Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed. Towards the target date, the NCDMB is set to install a 2.5-megawatt Compressed Natural Gas (CNG) power plant at the park. The power plant is one of the key steps to getting the facility operational, as it will provide reliable and sustainable electricity supply to support industrial operations within the park. The General Manager Corporate Communications NCDMB, Dr. Obinna Ezeobi gave the assurance…

The International Monetary Fund (IMF) has advised the Nigerian government to consider introducing excise duties on telecommunications services and extending Value Added Tax (VAT) to fuel products as part of broader efforts to strengthen government revenue and create fiscal space for development spending. The recommendation was contained in the IMF’s latest Article IV Consultation Report on Nigeria, which highlighted the need for additional tax reforms to support the country’s long-term fiscal sustainability. According to the Fund, while the implementation of Nigeria’s recently signed tax laws is expected to improve revenue generation over time, further policy measures may be required to…

The Central Bank of Nigeria (CBN) has unveiled a major regulatory proposal that could reshape the relationship between banks, fintech companies, and other financial institutions operating under the same corporate group. Under the proposed guidelines, banks and their affiliated companies would be required to operate more independently, with stricter boundaries designed to prevent customer funds from being used to support subsidiaries or related businesses. The move is part of the apex bank’s latest effort to strengthen consumer protection, improve transparency, reduce financial risks, and ensure greater stability within Nigeria’s rapidly evolving financial sector. According to the draft framework released by…

The US and Iran have agreed to strike a deal to end their conflict, with US President Donald Trump saying the Strait of Hormuz oil shipping channel would also reopen. Pakistan’s Prime Minister Shehbaz Sharif, whose country has been mediating, announced the deal on Sunday evening. He said both sides had declared “the immediate and permanent termination of military operations on all fronts, including in Lebanon”, where Israel and the Iran-backed group Hezbollah have been fighting, although Israeli politicians criticised the deal. Trump said he had ordered the immediate removal of a US naval blockade of Iranian ports and said…

British Prime Minister Keir Starmer said on Monday he would ban social media sites for under-16s and impose restrictions on gaming and livestreaming platforms, in some of the world’s most far-reaching online restrictions to date. The sweeping changes will reflect Britain’s values, helping to protect children online while pushing back against the power of big technology companies, Starmer told a press conference. “It is clear to me a full ban is the right choice,” he said. “This will change the conversations that parents have and the expectations of children over time. It will make a huge difference, it will make our children…

Determined to build Nigerian workforce with practical skills for top careers in the local and international oil and gas industry, the Nigerian Content Development and Monitoring Board (NCDMB), in partnership with Chevron Nigeria Limited (CNL) and Bristow Helicopters Nigeria Limited (BHNL), has commenced a significant Human Capacity Development (HCD) programme aimed at developing a new generation of pilots for the aviation segment of the oil and gas industry. The training was unveiled in Lagos on Wednesday, and will provide 10 Nigerians with world-class aviation training, positioning them for careers in one of the specialised and critical sectors supporting offshore oil and…

The World Bank Group has announced plans to provide up to $100 billion in financing support to developing countries over the next 15 months as the escalating Middle East conflict increases risks to global economic growth. The funding package follows the bank’s latest Global Economic Prospects report, which warned that rising energy prices, accelerating inflation, and higher borrowing costs are placing significant pressure on developing economies already grappling with multiple economic challenges. According to the World Bank, between $50 billion and $60 billion will be made available immediately through existing financing instruments, including $25 billion in pre-arranged financing. The institution…