The Nigerian National Petroleum Company Limited (NNPC Ltd) and its OML 118 contractor partners—Shell Nigeria Exploration and Production Company Limited (SNEPCo), Esso Exploration and Production Nigeria (Deepwater) Limited, and Nigerian Agip Exploration Limited (NAE)—have executed key addenda to the Production Sharing Contract (PSC) and Dispute Settlement Agreement (DSA). This execution marks a major step forward...
Category: Economy
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Just in: Abel Olumuyiwa Enitan Appointed Head of Federal Civil Service
President Bola Ahmed Tinubu has appointed Mr Abel Olumuyiwa Enitan as the Head of the Civil Service of the Federation, effective August 27, 2026.Mr Enitan succeeds Mrs Didi Esther Walson-Jack, who will retire soon from the Federal Civil Service upon attaining the statutory retirement age of 60.Mr Enitan, from Osun State, is the most senior...
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FG Louds Subsidy Removal Amid N30.64trn Expenditure, says reforms save Nigeria from economic collapse.
The Federal Government has rejected any opinion suggesting going back from the petrol subsidy removal, maintaining that the economic policies introduced since June 2023 have expanded fiscal space and averted severe financial deterioration. Presenting the economic reform scorecard covering June 2023 to December 2025 in Abuja, the Minister of Finance and Coordinating Minister of the...
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NSITF to lead NBA session on expanding legal protections for workers at Port Harcourt Conference
…As Faleye speaks on compliance, payroll transparency under ECAThe Nigeria Social Insurance Trust Fund (NSITF) will take centre stage at the Nigerian Bar Association (NBA) Annual General Conference this month with a dedicated session aimed at pushing the legal boundaries of workplace protection and social security in Nigeria.The session, scheduled for the NBA-AGC holding from...
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NSITF Shifts Focus From Activities To Impact, Urges Financial Discipline
The Nigeria Social Insurance Trust Fund (NSITF), has urged its management team to move beyond counting activities and start measuring real results for employers, employees and their families. Speaking in Abuja at the opening of the second day of the Regional Management Performance Review, the Executive Director, Finance & Investment, Samuel Ayodele Olufemi, said the...
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FG TO PAY OUTSTANDING WAGE AWARD BEFORE MID AUGUST, PROMOTION ARREARS TO FOLLOW
The Federal Government has assured public servants that the outstanding wage award will be paid before the middle of August, while promotion arrears are being processed as part of ongoing efforts to fulfil its commitments to workers. The assurance was given by the Honourable Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele,...
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NSITF Pays Over N31m Compensation To Families Of 5 Federal Workers
Fifteen years after the Employees’ Compensation Act was signed into law, the Nigeria Social Insurance Trust Fund (NSITF) on Tuesday presented the first compensation cheques worth N31,720,570.5 million directly to five beneficiaries from treasury-funded Ministries, Departments and Agencies (MDAs). The maiden presentation held in Abuja, brought together families who lost loved ones or suffered workplace...
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OYEDELE MOURNS FORMER MINISTER OF FINANCE, ALHAJI ABUBAKAR ALHAJI
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele; the Permanent Secretary, Finance, Mr. Raymond Omachi; the Permanent Secretary, Special Duties, Mr. Mohammed Sanusi Danjuma; and the management and staff of the Federal Ministry of Finance have received with deep sadness news of the passing of former Minister of Finance,...
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PERMANENT SECRETARY CALLS FOR STRONGER PARTNERSHIPS TO ADVANCE NIGERIA’S ECONOMIC TRANSFORMATION
The Permanent Secretary, Special Duties, Federal Ministry of Finance, Mr. Mohammed Sanusi Danjuma, has called for deeper collaboration between government and professional institutions as Nigeria intensifies efforts to build a more resilient, competitive, and robust sustainable economy.Speaking during a meeting with the leadership of the Nigerian Institute of Architects International Integrated Research for Development Conference...
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FG, STATES AND LOCAL GOVERNMENTS SHARE ₦2.551 TRILLION AS JUNE 2026 REVENUE
The Federation Account Allocation Committee (FAAC), at its July 2026 meeting chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has shared a total of ₦2.551 trillion among the Federal Government, the 36 States and the 774 Local Government Councils as Federation Account revenue for...