News Rider

BY CHIKA OKEKE, Abuja   President Bola Ahmed Tinubu has disclosed that the teeming youth population remains the nation's greatest asset, assuring foreign investors that the ready-to-learn and tech-savvy workforce can easily integrate into the global market.    President Tinubu, who received a delegation from Mastercard led by the Global Chief Executive Officer, Michael Miebach, at the State House on Tuesday in Abuja, welcomed the company's proposal to train five million businesses and equip them with digital skills.    He said that the Nigerian economy had been repositioned and stabilised to fully participate in the global economy, with a focus on empowering youths and small businesses with digital skills and tools.   The President noted that the ongoing formalisation of Nigeria's largely informal small-business sector will create more opportunities for digital transitions, investments, employment, and growth.    "I am glad that you ar...

BY CHIKA OKEKE, Abuja Prof Innocent Barikor Committed to promoting green jobs, the National Environmental Standards and Regulations Enforcement Agency, NESREA, has issued a deadline for compliance to 25 percent recycled PET content for the plastics sector. This followed a recent publication attributed to the Manufacturers Association of Nigeria, MAN, expressing concerns over the National Environmental (Plastic Waste Control) Regulations, 2026. With the deadline, the PET content requirement takes effect from 1 January 2028 and increases to 50 percent from 1 January 2030. The timeline is expected to provide an opportunity for the manufacturers, recyclers, brand owners and Producer Responsibility Organisations, PRO, with sufficient time to plan investments, upgrade systems, build supply chains, develop local recycled-material capacity and engage regulators on practical implementation. Director-General/Chief Executive Officer of NESREA, Prof. Innocent Barikor noted that the Nat...

BY CHIKA OKEKE, Abuja The Federation Account Allocation Committee, FAAC, has shared a total of N2.300 trillion among the Federal Government, State Governments and Local Government Councils as revenue accrued for May 2026. This was confirmed at the June 2026 meeting of FAAC following the consideration of revenue receipts for the month of May. The total distributable revenue of N2.300 trillion comprised N1.611 trillion from Statutory Revenue and N688.785 billion from Value Added Tax, VAT. From the distributable revenue, the Federal Government received N818.680 billion, while State Governments received N759.141 billion. This was even as the Local Government Councils received N534.277 billion, while the oil-producing states received N188.132 billion as 13 per cent derivation revenue. The gross statutory revenue available for the month stood at N2.652 trillion, representing an increase of N273.623 billion over the N2.378 trillion recorded in April 2026. In addition, FAAC reporte...

BY CHIKA OKEKE Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele The Federal Government has countered the reports of the International Monetary Fund, IMF, suggesting that it has adopted or is considering new taxes on telecommunications services and petroleum products. Specifically, the government hinted that the reports misrepresented the content of the IMF publication and do not reflect its policy direction. The IMF had on June 9, 2026, released Article IV Consultation Report on Nigeria, which assessed the country’s economic reform programme and recommendations for consideration by the authorities. In the report, the IMF Executive Board praised Nigeria’s recent tax reforms, but added that additional tax policy measures may be needed over the medium term, including to fund a scaled-up cash transfer program to provide relief to the most vulnerable. But the Federal Ministry of Finance noted that IMF recommendations do not amount to government poli...

Diezani Alison-Madueke  London’s Southwark Crown Court has acquitted the former Minister of Petroleum, Diezani Alison-Madueke of six bribery charges after years of corruption trial in the United Kingdom. Alison-Madueke, 65, was found not guilty on five counts of accepting bribes from persons connected to energy firms and one count of conspiracy to commit bribery while serving as the minister. Prosecutors alleged that Alison-Madueke was given preferential treatment in London by oil and gas industry figures seeking lucrative contracts in Nigeria, a country that has long struggled with corruption and mismanagement. Alison-Madueke, who served as minister from 2010 to 2015 under former President Goodluck Jonathan, was also a former President of the Organization of the Petroleum Exporting Countries, OPEC. During the trials, Alison-Madueke denied the charges, saying that she never received any bribes and had no real influence over the award of government contracts. Analysts fr...

BY CHIKA OKEKE, Abuja Committed to social change, a Non-governmental Organisation, Step Up Nigeria in partnership with the Platform to Protect Whistleblowers in Africa (PPLAAF) has honoured young creatives at World Whistleblower Day Art and Media Competition 2026. Executive Director of PPLAAF, Jimmy Kande presented cash and a plaque to each winner of the competition that cut across 31 states. The competition drew 172 entries from young people, with 111 male and 61 female participants showcasing exceptional talent in skits, music, poetry, art, and writing. This was even as the entries creatively highlighted vital themes of whistleblowing, integrity, citizen responsibility, and the need to strengthen legal protection for whistleblowers in Nigeria. The winners are Gilbert Owan in the Skit Category, titled, ‘The Pledge’; Akinfolarin Jeremiah Damilola (Music Category) ‘Voice Against Silence’; Anita Chigbomkpa Nwokoji (Poetry and Spoken Word) ‘On The 7th Floor’; Moses Idowu Sodip...