Author: Vardiafrica

Senate extends 2025 capital budget implementation for three months, citing unfinished projects and delayed payments amid concerns over centralised syste For the fourth time, the Senate on Tuesday extended the implementation period of the capital component of the 2025 Appropriation Act from September 30 to December 31, 2026, citing the need to prevent the abandonment of ongoing projects and ensure effective utilisation of funds already appropriated and released. The extension followed the passage of the Appropriations Repeal and Enactment Act 2025 Amendment Bill 2026, which was considered and passed through second and third readings on the same day. The measure effectively gives…

Vice President Kashim Shettima has returned to Nigeria after representing President Bola Ahmed Tinubu at the 81st Session of the United Nations General Assembly in New York, United States. A statement by the Senior Special Assistant to the President on Media & Communications (Office of The Vice President), Stanley Nkwocha, on Monday, noted that the Vice President had departed Abuja on September 20 with the mandate of President Bola Tinubu to lead Nigeria’s delegation to the annual global event. During the visit, VP Shettima delivered President Tinubu’s National Statement at the General Debate, where Nigeria renewed its call for reform…

The National Association of Resident Doctors has given the Federal Government a two-week ultimatum to resolve outstanding welfare and professional issues affecting its members, warning that failure to do so could trigger industrial action. The ultimatum is contained in resolutions the association reached at its 46th Annual General Meeting on Sunday in Calabar. The NARD National President, Dr Ogar Emmanuel Idoko, read the resolutions. The resident doctors expressed concern over the slow pace of implementation of agreements reached between the association and the Federal Government, saying prolonged delays had become unacceptable. They demanded immediate action on outstanding issues relating to…

The Central Bank of Nigeria (CBN) is investigating complaints over restrictions allegedly imposed by some banks on customers seeking to withdraw foreign currency from their domiciliary accounts. Financial Vanguard learnt that the apex bank may intervene on behalf of customers by compelling banks to honour legitimate withdrawal requests from domiciliary accounts and provide foreign currencies as requested by account holders. Several bank customers told Financial Vanguard that different banks had adopted various measures to impose total or partial restrictions on cash withdrawals from their foreign currency accounts. A visit by Financial Vanguard to some banks in Lagos confirmed that the…

The Federal Government has approved the comprehensive modernisation and upgrade of Onne, Rivers, Delta and Calabar ports as part of efforts to expand Nigeria’s maritime capacity and reduce the concentration of cargo traffic around Lagos. Adegboyega Oyetola, minister of Marine and Blue Economy, announced the approval, saying it complements the earlier approval for the modernisation and upgrade of Apapa and Tin Can Island ports in Lagos. According to Oyetola, the expansion of the port modernisation programme beyond Lagos is aimed at developing a more balanced, efficient and competitive national port system. “This approval marks another important step in our determination…

The Nigerian Content Development and Monitoring Board (NCDMB) has intensified its drive to attract Chinese investment, technology and manufacturing capacity into Nigeria’s oil and gas industry, engaging more than 100 Chinese Original Equipment Manufacturers (OEMs) in Chengdu, China. The engagement formed part of the Board’s and oil industry’s participation in the 15th China Shale Oil and Gas Summit, convened from 20 to 23 September 2026 at the Chengdu Century City International Conference Centre. The summit, themed “Empowering Efficient and Green Development via Intelligent Technologies, Innovating to Lead the Shale Oil and Gas Revolution,” provided a platform for NCDMB and representatives…

The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, has charged the newly established Nigerian Army Airborne Training School to develop highly skilled, agile and mission-ready personnel capable of conducting complex airborne and special operations in response to evolving security threats. The COAS gave the charge on Friday, 25 September 2026, while unveiling the Nigerian Army Airborne School at Jaji Military Cantonment, Kaduna State. Lieutenant General Shaibu described the establishment of the School as a strategic investment in capability development, designed to strengthen the Nigerian Army’s capacity to rapidly deploy specialised forces for demanding operations. He noted that the…

As part of efforts to enhance the capacity of its staff to effectively lead and regulate the oil and gas industry, the Nigerian Content Development and Monitoring Board (NCDMB), on Thursday inaugurated its LearnFest Lecture Series, a platform for continuous learning among staff and oil and gas industry stakeholders.  LearnFest, an initiative under the Nigerian Content Academy (NCA), a specialised knowledge-sharing and training arm of the agency, will provide trainings on the mandate and inner workings of the Board. Attended by all staff at the corporate headquarters in Yenagoa, the three-hour event was focused on raising awareness of the different directorates of the organisation, their constituent divisions and departments, as well as their specific responsibilities and how they function individually and collectively to advance corporate goals and…

APresident Bola Tinubu says his government is correcting the mistakes of past administrations and should be re-elected to finish the “good work”. Tinubu spoke on Friday through Tajudeen Abbas, speaker of the house of representatives, during a special prayer session held at the National Mosque in Abuja to commemorate Nigeria’s 66th Independence Anniversary. Tinubu said peace and development are gradually returning to the country. “This anniversary—the 66th—by all accounts signifies Nigeria has come of age,” he said. “The person of 66 years cannot be called a child anymore. Nigeria has become mature, even though when we reflect on the journey…

The Federal Government has issued the Nigeria Tax Administration Order 2026 to reduce the interest rate payable by taxpayers for late settlement of their tax liabilities, with the new regime taking effect from October 1, 2026. Under the new arrangement, interest on tax liabilities payable in naira will be pegged to the Central Bank of Nigeria’s Monetary Policy Rate (MPR) plus one percentage point, down from the previous five-percentage-point spread. The measure is contained in the Order issued by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, pursuant to Section 65 of the Nigeria Tax Administration…