By Ayo Kehinde President Bola Tinubu, on Thursday, announced the historic resolution of the long-standing Oil Prospecting Licence (OPL) 245 dispute, clearing the way for one of Nigeria’s most significant deepwater oil developments. The landmark settlement, signed in Abuja, ends a legal and commercial standoff that has persisted for over 15 years between the Federal Government of Nigeria, ENI, and Nigerian Agip Exploration Limited (NAEL). President Tinubu announced this during a high-level meeting at the Presidential Villa attended by ENI executives, including the CEO, Claudio Descalzi, COO Guido Brusco, Head of Sub-Saharan Region Mario Bello, and the Managing Director of Nigerian Agip Exploration, Fabrizio Bolondi. The President’s Special Adviser on Energy, Olu Arowolo-Verheijen, was also present. “This resolution sends a …
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Vice President Kashim Shettima, on Wednesday in Abuja, said the implementation of new tax reforms will eliminate the burden of multiple levies and charges on small businesses and low-income earners in Nigeria, thereby helping to reduce poverty. Shettima noted that the planning and implementation of the tax reforms were carefully designed to improve livelihoods, contrary to the claims of political detractors. The Vice President spoke on behalf of President Bola Tinubu at the interfaith breaking of fast for Ramadan and Lent held at the State House. Attendees included members of the Federal Executive Council, the Central Bank governor, special advisers, senior special assistants and heads of agencies and parastatals. Shettima urged them all to remain champions of the government’s reforms …
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By Ayo Kehinde In January 2026, Nigerian states recorded a significant increase in their share of Value Added Tax (VAT) revenue, receiving a total of about ₦551 billion. This sharp rise followed the implementation of new tax laws that adjusted the VAT distribution formula among the tiers of government. The development marked the first full month in which the revised revenue-sharing arrangement took effect. Under the new formula, a larger percentage of VAT revenue is now allocated to state governments. Previously, the federal government received 15 percent of the VAT pool, while states received 50 percent and local governments received 35 percent. However, the new tax structure reduced the federal government’s share to 10 percent and increased the states’ portion …
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By Ayo Kehinde The Federal Government has announced the commencement of Batch B recruitment for the Youth Economic Intervention and De-Radicalisation Programme (YEIDEP), set to begin nationwide on Monday, March 9. The initiative aims to empower 20 million Nigerian youths by providing start-up capital and promoting self-employment opportunities. Coordinator-General of YEIDEP, Kennedy Iyere, urged eligible Nigerians aged 18 to 50 to participate in the exercise. While the recruitment will take place across the country, Kano State will be managed separately by Governor Abba Kabir Yusuf through the newly established Kano State YEIDEP Steering Committee. Unlike the Batch A registration phase, which was conducted online, Batch B applicants are required to visit designated partner banks in person to open a YEIDEP …
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