Economy

FAAC Disburses ₦2.225tn to FG, States, LGs in August

IDNN
The Federation Account Allocation Committee (FAAC) shared ₦2.225 trillion among the three tiers of government for August, out of a gross ₦3.635 trillion. FG received ₦810bn, states ₦709bn, and LGs ₦522bn, while oil-producing states got ₦183bn as 13% derivation. VAT and oil royalties rose, but corporate tax and imports weakened....

Court Halts NUPENG Strike, Shields Dangote Refinery from Shutdown

IDNN
The National Industrial Court has issued an interim order restraining NUPENG and truck drivers from disrupting operations at Dangote Refinery. The ruling follows growing tensions over workers’ rights and allegations of anti-labour practices. Justice E.D. Subilim said irreparable harm could occur if refinery activities were crippled, a decision welcomed by Dangote’s legal team....

Dangote Declares End to Nigeria’s 50-Year Battle with Fuel Queues

IDNN
Aliko Dangote says Nigeria’s five-decade struggle with petrol scarcity has ended following one year of operations at his 650,000-bpd refinery. At an anniversary briefing, he said pump prices had dropped to ₦841 per litre, while 4,000 new CNG trucks will cut costs and create 24,000 jobs. Dangote vowed to expand capacity to 700,000 barrels daily....

Delta Fuel Shutdown: IPMAN and NUPENG Enforce Strike, ₦1m Fine for Defaulters

IDNN
Delta State faces fresh fuel scarcity as IPMAN and NUPENG begin an indefinite strike, shutting all filling stations and imposing a ₦1 million fine on any operator who defies the order. The action, tied to nationwide labour unrest, is expected to ripple across the South-South region....

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