Thirteen oil and gas blocks offered by the Federal Government in Nigeria’s 2025 Licensing Round failed to attract investor bids, forcing their return to the national licensing pool despite a competitive auction that generated about 200 bids from 143 qualified companies. The outcome of the country’s flagship upstream licensing exercise was announced on Tuesday in Abuja by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, during the 2025 Commercial Bid Conference, where the Commission presented the results of the bidding process conducted under the Petroleum Industry Act (PIA) 2021. Although the exercise recorded strong investor participation, the inability of more than a quarter of the offered assets to secure commercial bids highlights the increasingly selective …
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President Bola Ahmed Tinubu, has signed the Presidential Executive Order on Virtual Assets Coordination, 2026, to harmonise the regulation of virtual assets, strengthen cooperation among the nation’s financial, revenue and capital markets agencies, protect citizens from fraud, and safeguard the integrity of the financial system while enabling responsible innovation. The President signed the Order pursuant to Section 5 of the Constitution of the Federal Republic of Nigeria, 1999 (as altered). The Executive Order takes effect immediately. According to Presidential Spokesperson, Bayo Onanuga, the order responds to a regulatory environment that has become fragmented as virtual assets increasingly blur the traditional boundaries between currencies, money, commodities and securities. “With relevant agencies operating in silos, overlapping in some areas and leaving gaps in …
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President Bola Ahmed Tinubu, on Wednesday in Abuja, received commendations from Deloitte Africa for the ongoing financial and fiscal reforms in the country and was encouraged to pursue a stronger partnership that supports investments, youth training, and employment. The President, who received a delegation from Deloitte Africa, led by the Chief Executive Officer (CEO), Ruwayda Redfearn, at the State House, said the reforms had steadily stabilised the economy over three years, with growing plaudits for positive development and growth indicators. “We are following the example of Deloitte’s greatness to change things from the foundation, building the necessary future for our people. “Yes, reforms are difficult. It has not been a McDonald’s customer relationship but a harvester of good things, if …
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