Business
Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment
Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment
… as FG endorses consolidated guidelines
Sahara Weekly Reports That Today, in a move to further revitalise the oil and gas industry’s contribution to the Nigerian Economy, Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy, presided over a signing ceremony at the Federal Ministry of Finance headquarters in Abuja endorsing the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector – a cornerstone of the Presidential Directive aimed at enhancing the Nigerian oil & gas sector’s global competitiveness whilst stimulating economic growth.
As disclosed during the signing, the Presidential Directives were developed and coordinated by the Special Adviser to the President on Energy, Mrs. Olu Verheijen to ensure a competitive framework for the Nigerian oil & gas industry. These Consolidated guidelines for the fiscal incentives are based on extensive collaboration across Finance and Petroleum Ministries and involved several key regulatory bodies including the Federal Inland Revenue Service (FIRS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
According to Mrs. Verheijen, these new measures have been designed to deliver a competitive Internal Rate of Return (IRR) for Oil & Gas Projects and attract over $10 billion in new investments within the next 12-18 months. They also underscore Nigeria’s commitment to reaching its long term oil production target of 4 million barrels per day whilst enhancing the reliability of gas supply for to boost export earnings and fuel Nigeria’s industrialization.
Mrs. Verheijen disclosed that among the guidelines signed were the NUPRC Guideline on Hydrocarbon Liquids Content in a Non-Associated Gas (NAG) Field, essential for accurately categorising and quantifying the hydrocarbon liquid content in these fields. Additional guidelines focused on the applicability of tax credits and allowances for Non-Associated Gas Greenfield Development and the Midstream Capital and Gas Utilization Allowance, providing taxpayers with clarity on the computation of these benefits.
HM Edun, in his remarks, thanked President Bola Ahmed Tinubu for signing the directive in February 2024 to engender growth in the Nigerian oil and gas sector, which had stagnated for over the last decade. He also emphasised the potential of the guidelines, saying, “The idea is to create an atmosphere conducive to international competitiveness such that investment comes in. And in this case, we know it’s foreign direct investment”.
The signing ceremony was attended by various stakeholders, including NNPC Limited, Oil Producers Trade Section (OPTS) and the Independent Petroleum Producers Group (IPPG), further highlighting Nigeria’s unified approach toward reinvigorating its oil and gas sector.
Business
PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.
UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.
In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.
Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.
We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.
Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.
Thank you.
Business
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”
Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.
The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.
This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.
Speaking on the collaboration, the Laffmattazz team stated:
“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”
As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.
With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.
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About Laffmattazz
Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.
About First Bank of Nigeria Limited
First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.
Business
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million.
Now, FirstBank is making homeownership more attractive.
FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum, with a loan amount of up to ₦100 million and a repayment period of up to 20 years. This is perfect for salaried individuals, including Nigerians in the diaspora, looking to purchase homes in approved locations.
The MREIF loan stands out with its lower interest rate, higher loan amount, and flexible equity contribution as low as 10%. This makes it an attractive option for those seeking affordable homeownership.
You are one quick decision away from being a landlord.
If you’ve been waiting for the right time to buy a home, FirstBank’s MREIF Home Loan is the smartest route to owning property in Nigeria today. Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ to get started.
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