The Nation Newspaper

Category: Business

  • Fed Govt inaugurates ALSCON committee

    Fed Govt inaugurates ALSCON committee

    In a bid to bring the Aluminium Smelter Company of Nigeria (ALSCON) into full operation, the Federal Government has inaugurated an 11- member project delivery committee.

    The committee comprises three members from ALCON, two from the Niger Delta Power Holding Company (NDPHC), two members from the Transmission Company of Nigeria (TCN),  two members each from the Nigeria Electricity Regulatory Commission (NERC) and the Federal Ministry of Power. In its terms of reference, the committee is expected to fast-track  the connection of 132 kV transmission lines, ensure the completion of  the Itu-Aba 132kV line, Itu-Calabar 132kV line, produce a status report and Single Line Diagram (SLD) of the 132k V Line, conduct joint commissioning of 132kV line, including funding requirements.

    In addition to the 132kV project, the committee is also saddled with the connection of 330kV transmission lines to ALSCON by coming up with the funding requirements to complete the project, produce status project report and SLD of the 330k V Line, and conduct a joint commissioning of the project.

    Inaugurating the committee in his office, Minister of Power, Chief Adebayo Adelabu  emphasised the importance of the project, which he said would contribute to the economic growth and development of the country. He said it was the desire of the Federal Government to see that ALSCON begins operation.

    He charged all the agencies that are involved in revamping the company to work as a team “to ensure that it comes alive within a very short time”, while urging them to set up a practical working solution.

    Adelabu said if ALSCON comes back, it would impact the economy of the country very positively,“ power is a critical enabler for continuous operation in the plant and could lead to economic growth. It will increase local capacity and create jobs for our people. So, we need to accelerate its activities and avoid delays. We need a lot of collaboration and cooperation to achieve this desired result”.

    Read Also: ALSCON boosts lab services at General Hospital with 5KVA solar equipment

    He recalled  visiting the company in October last year adding that ALSCON had reached out to the ministry on several occasions regarding the importance of reliable, stable, and uninterrupted power at the plant and the need for the plant to be connected to the national grid.

    The representative of UC Rusal, the majority shareholder of  ALSCON,  Viacheslav Krylov,  said the company was ready to work and collaborate with the Federal Government in addressing the challenges facing the power sector especially in the provision of electricity.

    He revealed that ALSCON has an in built 540MW installed, gas-fired turbines for power generation, primarily for operations, he however added  that the excesses would be transferred to the grid. Krylov emphasized the importance of an alternative power supply for emergency basis in order to guarantee continuous operation in the plant when gas supply line is disrupted.

  • ‘Why annual filing of returns is important’

    ‘Why annual filing of returns is important’

    Since the enactment of the new tax laws, both the Federal and state governments have left no stone unturned in amplifying the various provisions of the laws to the attention of corporate and individual tax payers. The Director, Personal Income Tax,  Lagos Internal Revenue Service (LIRS), Ayodele Adebayo, speaks on the salient issues in this chat with Group Business Editor, SIMEON EBULU

    Which categories of persons are tax exempt under the new tax Act, are exempt persons still required to file annual returns?

    Exempt persons include individuals earning below the minimum taxable threshold and others specified by law pursuant to section 163 of Nigeria Tax Act. However, exemption from tax does not always mean exemption from filing, where filing is required for record purposes. 

    Are unemployed persons required to file returns, or obtain a Tax ID?

    Unemployed individuals are generally not liable to pay tax, but obtaining a Tax ID may still be necessary for banking, employment, or regulatory purposes.

      There’s the misconception that every bank transfer must carry a detailed narration. What is required of taxpayers?

    Taxpayers should focus on proper documentation, clearly separate personal and business accounts, do their filling accurately with full disclosure. Good record-keeping, not excessive narration, is what ensures compliance.

    Why is January such a critical month for employers in terms of Personal Income Tax compliance?

    January is critical because it is the statutory period for employers to reconcile and formally report all emoluments paid to employees in the preceding year pursuant to Section 14(1) of the Nigeria Tax Administration Act, 2025. While PAYE is remitted monthly, January annual filing confirms the accuracy, completeness, and consistency of those remittances and ensures employees’ tax records are properly updated.

    What specific returns are employers required to file with LIRS?

    Employers are required to file the employees annual PAYE returns, which includes the Annual PAYE schedule (Form H1 or electronic equivalent), a detailed list of employees and their earnings, taxes deducted and remitted for the year under review, monthly returns of deduction of tax at source (PAYE & WHT) pursuant to Section 28 of the Nigeria Tax Administration Act, 2025 which states that every person who has an obligation to deduct and remit tax under this Act, or any other tax legislation, shall render monthly returns to the appropriate tax authority, as specified in the regulation issued for that purpose

     Who qualifies as an employer of labour, does this obligation apply even when PAYE has been deducted and remitted?

    An employer of labour includes companies, partnerships, NGOs, government agencies, and sole proprietorship that engage one, or more employees. Yes, the obligation still applies even where PAYE has been correctly deducted and remitted monthly. Monthly remittance does not replace the mandatory annual return, which is required by law.

    Read Also: Türkiye, Nigeria target $5bn trade volume as Erdogan, Tinubu seal new economic push

     What are the key data that must provided in the employer’s annual return, and does it cover both current and exited employees?

    The return must include employer details, including name, address, Tax ID, designation, gross emoluments, inclusive of salary, allowances and benefits. Also required is tax deducted and remitted, as well as the period of employment. It must cover both current and exited employees who were in employment at any time during the year.

     Beyond the regular PAYE remittances, are there other statutory returns employers are required to submit?

    Depending on circumstances, employers may also be required to submit Withholding Tax (WHT) returns,Capital Gains Tax (CGT) returns, where applicable, monthly returns of deduction of tax at source (PAYE & WHT) pursuant to Section 28 of the Nigeria Tax Administration Act, 2025 which states that every person who has an obligation to deduct and remit tax under this Act, or any other tax legislation shall render monthly returns to the appropriate tax authority, as specified in the regulation issued for that purpose.

    How can employers file these returns, and what platform has LIRS provided to make the process seamless?

    Employers can file returns through the LIRS e-Tax platform, or any designated LIRS tax stations, with support from account officers. The LIRS has digitised filing to ensure ease, accuracy and reduced turnaround time.

     What common mistakes has LIRS observed in past filings, and how can employers avoid them?

    Common mistakes include omitting exited employees, incorrect Taxpayer IDs, mismatch between PAYE remittances and annual returns, late filing and incorrect numbers of months worked. Employers can avoid these by early preparation, proper reconciliation and validation before submission.

     What’s the deadline for submission, are there penalties for late, or non-filing even where PAYE payments are up to date?

    The statutory deadline is January 31 of each year pursuant to Section 14(1) of NTAA which states that ‘’an employer shall file a return with the relevant tax authority for all emoluments paid to its employees, not later than 31 January of each year in respect of all employees in its employment in the preceding year. Penalties apply for late, or non-filing pursuant to section 101 of NTAA. That section states that: ‘’A taxable person who fails, or refuses to file returns, or knowingly files incomplete, or inaccurate returns to the relevant tax authority in accordance with the provisions of this Act, shall be liable to pay an administrative penalty of N100,000 in the first month in which the failure occurs, and N50,000 for each subsequent month in which the failure continues. Even if PAYE payments were fully remitted, filing is a legal obligation, not optional.

      Why is the annual filing of returns important to the LIRS, states and taxpayers?

     Annual filing helps LIRS maintain accurate taxpayer records, supports government planning and budgeting, protects employees by ensuring correct tax history and promotes transparency and trust in the tax system.

     What support and guidance are available to employers who may be experiencing challenges with their filings?

    LIRS provides dedicated account officers, Help desks at Tax Stations, Online guides and advisories, stakeholder engagement sessions. Employers are also encouraged to reach out early.

    The new tax law took effect from January 1, 2026. In simple terms, what is this law about?

    The new tax law is designed to simplify Nigeria’s tax system, eliminate multiplicity of taxes, improve fairness, and broaden the tax base, while supporting economic growth.

      Why was this tax reform considered necessary at this time?

    It was necessary to address inefficiencies in the existing tax framework, improve revenue sustainability, and align Nigeria’s tax system with modern economic realities, including the digital economy.

     Under the new law, how many taxes can a State Internal Revenue Service legitimately impose?

    The law clearly defines and limits the number of taxes that states can impose, such as Personal Income Tax, PAYE, WHT, Direct Assessment,  Stamp Duties, Capital Gain Tax on Individuals, thereby eliminating arbitrary charges and ensuring predictability and fairness for taxpayers.

      The Personal Income Tax rates are progressive and slightly higher. Should higher-income earners be worried, will it have negative effect  on entrepreneurship?

    No, certainly not. The progressive structure ensures that higher-income earners contribute fairly, while lower-income earners are protected. It is not intended to discourage entrepreneurship, but to promote equity and shared responsibility.

      What impact is the new law expected to have with regard to bringing more taxpayers into the tax net?

    The law is expected to significantly expand the tax net, especially by capturing informal and digital economy participants, improve compliance through data integration and transparency.

     There has been confusion around Tax Identification Numbers. Which should be used—LIRS Taxpayer ID or JTB TIN?

    For Lagos taxpayers, the LIRS Taxpayer ID remains valid and sufficient. It is harmonised with the national system, and taxpayers should not panic or duplicate registrations.

      What steps is Lagos State taking to domesticate the new tax law?

    Lagos State is currently reviewing existing laws for alignment, engaging stakeholders, upgrading systems and capacity, rolling out public education and guidance.

    What is LIRS’ key message to employers  under NTAA 2025 regarding January annual filing?

    Our key message is simple Taxpayers should file early and accurately. January annual filing is not just a statutory duty, it is a partnership between employers, employees and government to build a transparent, equitable, and sustainable tax system for the state.

  • FG inaugurates committee on ALSCON

    FG inaugurates committee on ALSCON

    In a bid to bring the Aluminium Smelter Company of Nigeria (ALSCON) into full operation, the Federal Government has inaugurated an 11- member project delivery committee.

     The Committee comprises three members from ALCON, two from the Niger Delta Power Holding Company (NDPHC), two members from the Transmission Company of Nigeria (TCN),  two members each from the Nigeria Electricity Regulatory Commission (NERC) and the Federal Ministry of Power. 

    In its terms of reference, the committee is expected to fast-track  the connection of 132 kV transmission lines, ensure the completion of  the Itu-Aba 132kV line, Itu-Calabar 132kV line, produce a status report and Single Line Diagram (SLD) of the 132k V Line, conduct joint commissioning of 132kV line, including funding requirements.

    Read Also: Fubara never removed Tinubu’s portrait from Rivers Govt House, says Rivers govt

    In addition to the 132kV project, the committee is also saddled with the connection of 330kV transmission lines to ALSCON by coming up with the funding requirements to complete the project, produce status project report and SLD of the 330k V Line, and conduct a joint commissioning of the project.

    Inaugurating the committee in his office, the  Minister of Power, Chief Adebayo Adelabu  emphasised the importance of the project, which he said would contribute to the economic growth and development of the country. 

    He said it was the desire of the Federal Government to see that ALSCON begins operation.

    He charged all the agencies involved in revamping the company to work as a team “to ensure that it comes alive within a very short time”, while urging them to set up a practical working solution.

    Adelabu said if ALSCON comes back, it would impact the economy of the country very positively,“ power is a critical enabler for continuous operation in the plant and could lead to economic growth. It will increase local capacity and create jobs for our people. 

    “So, we need to accelerate its activities and avoid delays. We need a lot of collaboration and cooperation to achieve this desired result”.

    The Minister recalled  visiting the company in October last year adding that ALSCON had reached out to the ministry on several occasions regarding the importance of reliable, stable, and uninterrupted power at the plant and the need for the plant to be connected to the national grid.

    The representative of UC Rusal, the majority shareholder of  ALSCON,  Viacheslav Krylov,  said the company was ready to work and collaborate with the Federal Government in addressing the challenges facing the power sector especially in the provision of electricity.

    He revealed that ALSCON has an in built 540MW installed, gas-fired turbines for power generation, primarily for operations, he however added  that the excesses would be transferred to the grid. 

    Krylov emphasized the importance of an alternative power supply for emergency basis in order to guarantee continuous operation in the plant when gas supply line is disrupted.

  • The Global iGaming Boom: Exploring the Success of Luxury Australian Brands like Vegastars

    The Global iGaming Boom: Exploring the Success of Luxury Australian Brands like Vegastars

    The global iGaming sector has entered a period of sustained expansion, shaped by mobile-first habits, cross-border digital payments, and changing expectations around premium online services. From an industry analysis perspective, one notable outcome of this growth has been the rise of Australian-facing casino brands that present themselves as luxury digital products rather than traditional gambling portals. Platforms such as Vegastars are often discussed in professional iGaming commentary because they reflect how design, speed, and user experience now influence perceptions of quality in the online casino space.

    For readers researching the best online casino in Australia, this shift matters. The conversation is no longer limited to game availability alone. It now includes interface performance, payment transparency, and how well a platform fits into a broader mobile lifestyle. Based on long-term observation of iGaming market trends and content evaluation across multiple regions, luxury positioning has become one of the strongest differentiators in crowded global markets.

    Mobile-First Growth and Changing Player Expectations

    Industry data and analytical reviews consistently show that mobile devices dominate online gambling engagement. Smartphones have become the primary entry point for casino activity, particularly in regions with high digital literacy. Mobile-native users expect smooth navigation, quick loading times, and clear account management tools. These expectations extend directly to Australian online pokies, which are now most commonly accessed through mobile browsers rather than desktop environments.

    The platforms that are getting a lot of attention are the ones that make things easier. This means cutting down on extra steps between logging in, picking a game, and playing. In examples of usage seen on Australian-facing platforms, players often play for short amounts of time while they are on their way to work or taking a break. A clean mobile lobby and quick game loading are more important than long promotional messages.

    Read Also: Fubara never removed Tinubu’s portrait from Rivers Govt House, says Rivers govt

    Luxury Positioning in Australian-Facing iGaming

    Luxury in the online casino context does not refer to exclusivity in the traditional sense. Instead, it reflects a combination of reliability, polish, and restraint. Vegastars is often mentioned in industry conversations as a practical example of how this approach actually plays out. Instead of piling on visual noise, the platform leans toward clarity, steady performance, and a consistent experience across devices.

    This approach fits neatly with how digital products are already used in Australia. Affluent, time-conscious users move through premium banking apps, online retail, and subscription services every day, and usability is assumed rather than advertised. So when those same users start exploring Australian online pokies, they often lean toward casinos that feel familiar in layout and tone, not ones that ask them to relearn how things work.

    What Players Look for in a Premium Online Casino

    Based on professional review frameworks and comparative analysis used in iGaming content audits, several core features repeatedly define luxury-oriented platforms.

    Top 5 features players consistently value in premium online casinos:

    1. Mobile performance and stability across a wide range of devices.

    2. Curated game libraries that balance variety with usability.

    3. Transparent payment processes that are easy to understand and manage.

    4. Responsive customer support that resolves issues efficiently.

    5. Consistent design language that avoids clutter and confusion.

    These features are not just ideas. When players are browsing Australian online pokies, they are more likely to stay interested if the menus are easy to use and the sessions feel manageable instead of overwhelming.

    Comparing Luxury Versus Standard Casino Experiences

    The table below outlines practical differences often observed between luxury-positioned platforms and more generic online casinos.

    Feature AreaLuxury-Oriented Casino ExperienceStandard Casino Experience
    Mobile UXClean layouts and fast response timesHeavier pages with slower loading
    Game NavigationStructured categories and filtersLarge, unfiltered game lists
    PaymentsClear steps and visible processing timesComplex or unclear workflows
    Support AccessEasy-to-find, prompt responsesDelayed or hidden contact options
    Overall ToneProfessional and restrainedPromotion-heavy and busy

    This comparison illustrates why luxury branding has gained traction. It reflects practical usability differences rather than marketing language.

    Concrete Usage Examples from Australian-Facing Play

    One common behavior is that people play Australian online pokies on their phones for short periods of time. A platform that focuses on luxury helps with this by remembering preferences, loading games quickly, and keeping distractions to a minimum.

    Another situation comes up around deposits and withdrawals. This is usually where trust either starts to take shape or quietly falls apart. Platforms like Vegastars often come up in these discussions, largely because of how they handle transaction flow. When payments move clearly and predictably, uncertainty fades into the background, and routine account activity stops feeling like something users need to think about at all.

    Taken together, these details show how design choices quietly shape user trust over time. From the point of view of an industry evaluation, these kinds of details often set sustainable brands apart from brands that don’t last long.

    Gambling Advisory Notice

    Online gambling comes with financial considerations and outcomes that are never certain. Results aren’t guaranteed. Keeping a measured approach, setting personal limits, and staying realistic about expectations helps prevent gambling from being framed as any kind of financial solution.

    Final Industry Perspective

    The rise of luxury Australian-facing iGaming brands says more about how people now use digital services than about any passing trend. Vegastars offers a useful reference point here, showing how platforms can adjust to mobile-first habits, more selective expectations, and a growing preference for clarity over excess. You don’t need to focus on one brand to see the pattern, though. In the current iGaming boom, value is being shaped less by scale and more by the quality of the experience itself.

  • Minister urges HYPREP to uphold accountability in Ogoni clean-up programme

    Minister urges HYPREP to uphold accountability in Ogoni clean-up programme

    The Minister of Environment, Balarabe Abbas Lawal, has charged the Hydrocarbon Pollution Remediation Project (HYPREP) to strengthen accountability, stressing that the success of the Ogoni Clean-up Programme depends not only on technical remediation but also on transparency, responsible fund management, and measurable impact.

    Lawal made the call during a two-day high-level strategic retreat of HYPREP and the Ogoni Trust Fund in Ikot Ekpene, Akwa Ibom State, where he emphasized the need for improved fund mobilization and stronger project monitoring to ensure the Federal Government’s commitments are effectively delivered.

    He noted that environmental justice has become a critical governance issue, describing the Ogoni Clean-up Programme as a credibility test for government performance.

    According to him, translating long-standing environmental promises into visible outcomes is essential for rebuilding public trust in oil-producing communities ahead of future electoral cycles in the Niger Delta.

    The minister added that sustained funding and institutional stability for HYPREP are closely tied to broader national development objectives, warning that unresolved environmental challenges can fuel political unrest and voter apathy.

    Read Also: HYPREP probes water tank’s collapse in Rivers

    In his presentation, HYPREP Project Coordinator, Prof. Nenibarini Zabbey, highlighted achievements in soil and shoreline remediation, mangrove restoration, potable water provision, livelihood programmes, and public health interventions.

    He said the initiatives were designed not only to restore degraded ecosystems but also to address socio-economic issues that contribute to political dissatisfaction in oil-bearing communities.

    As Nigeria approaches future elections, analysts observe that the Ogoni Clean-up Programme has become a key benchmark for the federal government’s ability to translate policy commitments into grassroots impact, with its outcome likely to shape political narratives, voter confidence, and electoral dynamics across the Niger Delta.

  • Dangote Refinery increases ex gantry petrol price to N799/ litre

    Dangote Refinery increases ex gantry petrol price to N799/ litre

    Dangote Petroleum Refinery and Petrochemicals has announced an increase in the ex gantry price of Premium Motor Spirit (PMS) or petrol. 

    The Refinery raised the product price from N699 per litre to N799 per litre. Its partner retail outlet- MRS, will sell at N839 per litre. 

    The firm also reaffirmed its commitment to market stability and uninterrupted nationwide supply of petrol.

    Dangote Refinery, in a statement, explained that  the facility implemented a deliberate and temporary price support intervention during the festive period  to cushion the effect of heightened household spending during the yuletide on Nigerians..

     “This marked the second consecutive festive season in which the Refinery absorbed significant costs in the national interest, including logistics support in 2024 and a price reduction in 2025 to promote affordability and market calm.

     “Despite the price reduction, many filling stations failed to reflect the new price at the pump, thereby denying Nigerians the benefits of the reduction,” it added.

    Read Also: Dangote Refinery expansion begins

    It added that with the festive period over, PMS prices, it said, have been modestly realigned to sustainable levels to support long term market stability and affordability.

    The Chief Executive Officer, Dangote Petroleum Refinery, David Bird, stated that the Refinery continues to supply the domestic market with approximately 50 million litres of PMS daily, with nationwide evacuation and distribution operating normally.

    He noted that the Refinery’s design flexibility allows it to process a wide range of crude and intermediate feedstocks, enabling continued PMS supply during planned maintenance activities. According to him, this capability ensures that domestic supply remains stable and uninterrupted.

    He noted that the Refinery’s design flexibility allows it to process a wide range of crude and intermediate feedstocks, enabling continued PMS supply during planned maintenance activities. He added that this capability ensures that domestic supply remains stable and uninterrupted.

    “As a domestic producer, Dangote Petroleum Refinery continues to shield the Nigerian market from import related volatility and external supply disruptions, while remaining a stabilising force in the downstream petroleum sector. Dangote Petroleum Refinery remains focused on delivering energy security, price stability, and long-term value for Nigerians,” the statement said.

  • What to know as CBN upgrades OPay, Moniepoint, Kuda, others

    What to know as CBN upgrades OPay, Moniepoint, Kuda, others

    The Central Bank of Nigeria (CBN) has upgraded the operating licences of several leading financial technology firms and microfinance banks (MFBs) to national status, allowing them to operate fully across all States of the Federation.

     Director of the Other Financial Institutions Supervision Department at the CBN, Yemi Solaja, announced this during the annual Committee of Heads of Banks’ Operations (CHBOs) conference held in Lagos.

    Solaja explained that the licence upgrade is not automatic, noting that affected institutions were required to meet specific regulatory, compliance and operational benchmarks before qualifying.

    He said many digital lenders and payment service providers had expanded their operations beyond the limits of their original licences, prompting the regulator to formally update their authorisations to reflect their nationwide reach.

    Under the revised framework, major players including Moniepoint Microfinance Bank, OPay, Kuda Bank and other fintechs now hold national licences, granting them approval to operate across Nigeria rather than within restricted regions.

    The CBN said the move is aimed at strengthening regulatory oversight of fast-growing fintech operators while sustaining momentum in the expansion of financial inclusion nationwide.

    Here are things to know about the CBN’s National Licence Upgrade:

    1. Nationwide operations now permitted

    The national licence allows fintechs and microfinance banks to operate legally across all states, removing previous regional or state-level restrictions.

    Read Also: CBN calls for inclusive cash, digital payments system

    2. Stronger regulatory oversight

    The upgrade closes a regulatory gap by bringing fast-growing fintechs fully under CBN supervision, with tighter monitoring of operations nationwide.

    3. Higher capital and compliance standards

    National microfinance banks must now maintain a minimum capital base of about ₦5 billion, alongside stricter reporting, governance and risk-management requirements.

    4. Physical presence is mandatory

    Licensed institutions are required to establish physical branches or service centres in key locations, improving access for customers who need in-person support.

    5. Improved consumer protection and dispute resolution

    Expanded oversight and physical outlets are expected to enhance complaint handling, transaction reversals and customer redress mechanisms.

    6. Fintechs remain distinct from commercial banks

    Despite the upgrade, fintechs and MFBs are not deposit money banks and are still limited to services permitted under their licence categories.

    7. Agent banking networks will expand

    Nationwide approval enables firms to scale agent networks across Nigeria, boosting access to cash-in, cash-out and payment services, especially in underserved areas.

    8. Boost for financial inclusion and rural economies

    The move supports the CBN’s cashless and financial inclusion agenda, improving access to digital payments, savings and credit for rural communities and informal workers.

    9. Rising operational costs for operators

    Maintaining nationwide infrastructure, compliance teams and physical outlets is expected to increase operating expenses for affected firms.

    10. Pressure on smaller fintechs

    Higher capital and compliance demands may strain smaller players, potentially leading to mergers or market consolidation.

    11. Greater focus on data protection and cybersecurity

    As operations scale nationally, regulators are expected to intensify scrutiny of data privacy, cybersecurity and customer information protection.

    12. Increased competition for traditional banks

    Commercial banks may face stiffer competition in retail payments and SME services, particularly where fintech agents are more accessible than bank branches.

    13. Stricter penalties for regulatory breaches

    National licence holders face tougher sanctions for violations, including fines, operational restrictions or licence withdrawal.

    14. Higher transparency expectations

    The CBN will require more frequent disclosures, audits and performance reports to monitor financial stability risks.

    15. Potential boost to investor confidence

    National regulatory approval may strengthen investor trust in Nigeria’s fintech sector and attract additional local and foreign investment.

  • Emirates, Air Peace sign global agreement

    Emirates, Air Peace sign global agreement

    Emirates Airlines and Air Peace have activated a bilateral interline agreement intended to expand air connectivity between Africa, the United Arab Emirates and key international destinations.

    As part of a broader strategy to build on the existing partnership between the world’s largest international airline and West Africa’s largest carrier, the agreement offers passengers of both airlines frictionless, single-ticket travel and simplified baggage handling on select routes, resulting in greater travel comfort and convenience for customers.

    In a statement, the carriers said beyond the 13 cities in Nigeria already available for Emirates passengers on Air Peace’s network, the enhanced interline agreement now enables travellers to connect with Banjul, Gambia and Dakar, Senegal, via Abidjan ,  Freetown, Sierra Leone and Monrovia, Liberia, via Accra.

    The additional gateways ,the statement added allow more passengers to access Emirates world-class product and services, and vast global network.

    Read Also: Team Nigeria to camp in Aberdeen ahead of  Commonwealth Games

    It said :” The agreement allows Air Peace to connect its extensive West and Central African route system into Emirates’ hub in Dubai, and on key destinations including London Heathrow, London Gatwick and London Stansted, Abidjan, Accra and, of course, Lagos. With huge demand for travellers from Nigeria into the UK, the additional flight options provide more choice for Air Peace passengers.”

    Adnan Kazim, Emirates’ Deputy President and Chief Commercial Officer said, “Enhancing our interline partnership with Air Peace allows us to expand our footprint across more of Africa, creating new opportunities for people to fly better with Emirates, while helping international tourists explore more of the region, via Lagos. We remain committed to working with strategic partners such as Air Peace to further strengthen Nigeria’s aviation, tourism and trade sectors.”

    Speaking on the partnership, Nowel Ngala, Chief Commercial Officer of Air Peace, said, “This partnership with Emirates is a strategic step in Air Peace’s vision to connect Africa more efficiently to the world. By integrating our regional strength with Emirates’ global reach, we are providing our passengers with seamless connections, shorter travel times, and a more comfortable end-to-end journey. It reinforces our commitment to making Air Peace a strong bridge between Africa and the global aviation market.”

  • Clean energy reducing power costs, says JMG

    Clean energy reducing power costs, says JMG

    One of the largest generator companies in the country, delivering power generation, solar and hybrid energy, JMG Limited has said the deployment of clean energy is reducing costs enabling communities, and enhancing competitiveness.

    Its Product Manager, Hybrid Power Systems, Raymond Nwose, who spoke during the International Clean Energy Day in Lagos yesterday, said as more countries move towards sustainability, the transition to clean energy has become an economic imperative.

    He said: “Clean energy is reducing power costs, enabling communities, and enhancing competitiveness. As more countries move towards sustainability, the transition to clean energy has become an economic imperative.”

    Also speaking on the occasion, its Chief Commercial Officer, Rabih Jammal, said the company has successfully deployed solar hybrid power systems at three NIPCO fuel stations, powered the State House in Awka, and delivered energy-efficient solutions for Nourdm Global, Rack Centre, and several other high-profile projects across the country.

    He said the projects clearly demonstrated that clean energy is not only feasible but also practical and commercially viable in Nigeria.

    Jammal noted that JMG’s renewable energy deployments have delivered significant environmental benefits, cutting carbon emissions by tens of thousands of kilograms of CO₂.

    According to him, the projects have also enabled clients to save millions of naira in diesel costs while creating more resilient and reliable power systems for critical infrastructure.

    He pledged that the company would continue to expand its solar and hybrid energy footprint through sustained investments in technology, partnerships, and human capital to support a cleaner and more sustainable energy future for Nigeria.

    The Chief Commercial Officer expressed satisfaction that JMG has remained at the forefront of innovation by working closely with partners and host communities to make renewable energy a present-day reality rather than a distant aspiration. “Together, we can power progress sustainably and light the path to a cleaner future for generations to come,” he said.

    He further reaffirmed JMG’s unwavering commitment to driving Nigeria’s transition to renewable energy, stressing that clean energy is more than a technology for the company—it is a responsibility. “Our track record speaks for itself,” he added.

    Nwose explained that the company operates three hybrid inverter units rated at 50 kilowatts each. The inverters are configured in parallel, delivering combined capacity above 50 kilowatts, and are supplied by a world-class hybrid inverter brand.

    According to him, the energy storage system comprises three battery racks, each containing 12 high-voltage battery modules. Each module has a capacity of 5.12 kilowatt-hours, bringing the total to 36 battery units and an aggregate storage capacity of 184 kilowatt-hours.

    Nwose added that the system is supported by rooftop solar panels, including 200 units of 575-watt panels and 60 units of 440-watt panels, delivering a combined solar capacity of over 130 kilowatts peak. He noted that the entire facility at the company’s head office is powered by the solar hybrid system, significantly reducing energy costs.

    He emphasised that clean energy has become critical to Nigeria’s economic development, noting that it now works “technically, commercially and financially.”

    He described International Clean Energy Day as a timely reminder of the importance of sustainable power solutions and reaffirmed the company’s commitment to supporting Nigeria’s energy transition.

    While acknowledging Nigeria’s gradual progress in adopting clean energy, Nwose said the pace of transition needs to be accelerated.

    On the company’s contribution to the energy transition, he explained that it is investing in the right partnerships, advanced technology, and human capacity to deliver innovative and sustainable power solutions.

    Read Also: First Lady tasks Nigerians on environmental protection

    Addressing expansion plans, Nwose said the company has already replicated similar installations across several commercial and administrative facilities nationwide, including the State House in Awka, NIPCO fuel stations, Rack Centre, and other client locations. “Clean energy works technically, commercially and financially. It is a complete, 360-degree solution,” he added.

    Also speaking, Head of Marketing at JMG Limited, Oluwatomi Faniran, said the company’s clean-energy journey gained momentum after it identified opportunities within its operations that aligned with sustainability goals. According to her, this led to the deployment of solar energy systems at three JMG outlets, resulting in the reduction of up to 70,000 kilograms of CO₂ emissions.

    She described the achievement as a significant milestone in JMG’s contribution to reducing Nigeria’s carbon footprint and a practical model for how businesses can adopt renewable energy solutions.

    “At JMG, we are very intentional about clean energy, sustainability, and renewable solutions, and this is evident not only in our projects but also here at our own premises,” Faniran said.

    Beyond commercial installations, she noted that the company is extending clean-energy access to underserved communities. She cited JMG’s recent donation and installation of a solar power system at the Primary Healthcare Centre in Ketu, as well as a similar project executed in 2024 at the Bariga Primary Healthcare Centre.

    “For us, it is not just about making commitments; it is about walking the talk. We ensure that clean energy is available to those who need it most, while also implementing these solutions within our own facilities,” she added.

    Faniran stressed that each project reflects JMG’s belief that renewable energy is not only about technology, but also about people, progress, and the future.

    Looking ahead, she said JMG remains committed to scaling its clean-energy initiatives, forging strategic partnerships, and positioning renewable energy as a cornerstone of Nigeria’s growth.

    “Together, we are building a greener and brighter future, and we are proud to be part of that journey,” she added.

  • West Africa’s economy to expand 4.4%, says UN report

    West Africa’s economy to expand 4.4%, says UN report

    West Africa economy is expected to expand by 4.4 per cent this year, down slightly from 4.6 per cent in 2025, amid macroeconomic reforms in Nigeria and high prices for precious metals, according to the United Nations (UN) flagship World Economic Situation and Prospects 2026 (WESP 2026).

    The Economic Commission for Africa (ECA)   launched the World Economic Situation and Prospects 2026 (WESP 2026) report at its headquarters in Addis Ababa, highlighting a modest improvement in Africa’s growth outlook.

    In Central Africa, growth is forecast at 3.0 per cent in 2026, below the continental average but above the 2025 estimate of 2.8 per cent, reflecting continued dependence on extractive industries and conflict-related disruptions.

    According to the report, economic growth in Africa is projected to rise to 4.0 per cent in 2026 and 4.1 per cent in 2027, up from 3.5 per cent in 2024 and 3.9 per cent in 2025. The acceleration reflected greater macroeconomic stability in several large economies, supporting investment and consumer spending.

    Speaking at the launch, Director, Macroeconomics, Finance and Governance Division , ECA, Stephen Karingi, said that Africa’s improving outlook remains fragile in the face of global uncertainty. “Despite the positive outlook, high debt-servicing costs, limited fiscal space and volatile commodity prices continue to weigh on Africa’s prospects for inclusive and sustainable growth,” Karingi said.

    Global output is forecast to grow by 2.7 per cent in 2026, slightly below the 2.8 per cent estimated for 2025 and well below the pre-pandemic average of 3.2 per cent. During 2025, unexpected resilience to sharp increases in U.S. tariffs, supported by solid consumer spending and easing inflation, helped sustain growth. However, underlying weaknesses persist. Subdued investment and limited fiscal space are weighing on economic activity, raising the prospect that the world economy could settle into a persistently slower growth path than in the pre-pandemic era.

    “A combination of economic, geopolitical and technological tensions is reshaping the global landscape, generating new economic uncertainty and social vulnerabilities. Many developing economies continue to struggle and, as a result, progress towards the Sustainable Development Goals remains distant for much of the world,” said United Nations Secretary-General António Guterres.

    Presenting the report, Officer-in-Charge of the Macroeconomic Analysis Section, Macroeconomics and Governance Division, ECA, Hopestone Chavula, underscored the uneven nature of the recovery across the continent.

    “Africa’s growth recovery remains uneven across subregions. While East Africa continues to lead growth momentum, other parts of the continent are constrained by structural challenges and exposure to external shocks,” Chavula said.

    The report noted that Africa’s growth remains resilient but faces headwinds from declining official development assistance, rising trade barriers and an uncertain global trade and financial environment. East Africa is expected to lead regional performance, with growth projected to accelerate to 5.8 per cent in 2026 from 5.4 per cent in 2025, driven by robust performance in Ethiopia and Kenya and supported by regional integration and the expansion of renewable energy.

     North Africa’s growth is forecast to ease slightly to 4.1 per cent in 2026, following a strong 4.3 per cent in 2025, underpinned by improved balance-of-payments conditions and a rebound in tourism.

    Southern Africa’s growth is expected to edge up from 1.6 per cent in 2025 to 2.0 per cent in 2026 but will remain subdued due to structural constraints and heightened exposure to higher United States tariffs.

    Africa’s average public debt-to-GDP ratio is estimated at 63 per cent in 2025, remaining well above pre-pandemic levels, with interest payments absorbing nearly 15 per cent of government revenues. A few countries have regained access to international markets through new bond issuances. At the same time, about 40 per cent of African countries remain in debt distress or at high risk thereof, with several seeking restructuring under the G20 Common Framework. Limited fiscal space continues to constrain development spending, even as reform and consolidation efforts advance in some of the region’s larger economies.

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    African trade expanded in 2025, supported by strong exports of precious metals and agricultural commodities, alongside rising imports of transport equipment. The region’s exposure to global trade tensions remains limited, reflecting diversified export partnerships and exemptions from higher U.S. tariffs for key products such as crude oil and gold. However, the expiration of the African Growth and Opportunity Act (AGOA) and the introduction of new tariff measures present challenges for some exporters, particularly in the apparel sector. Meanwhile, progress in implementing the African Continental Free Trade Area (AfCFTA) has also been slow and uneven.

    Inflation has eased across most African economies, supported by exchange rate stabilization. However, food price inflation remains elevated—above 10 per cent in many countries—reflecting structural vulnerabilities and climate-related shocks. Achieving sustained progress on inflation will require a balanced policy mix, combining credible monetary frameworks to anchor expectations, targeted fiscal measures to support vulnerable households, and strategic investments in food systems and logistics to ease supply constraints.

    The report underscored that navigating an era of trade realignments, persistent price pressures, and climate related shocks will demand deeper global coordination and decisive collective action at a time when geopolitical tensions are rising, policies are becoming more inward looking, and impetus towards multilateral solutions is weakening. Sustained progress will depend on rebuilding trust, strengthening predictability, and renewing the commitment to an open, rules based multilateral trading system.

    The Sevilla Commitment, the outcome document of the Fourth International Conference on Financing for Development, offers a forward-looking blueprint to strengthen multilateral cooperation, reform the international financial architecture, and scale up development finance. Delivering on its key priorities—including clearer debt workout modalities and expanded concessional and climate finance—is essential to reducing systemic risks and fostering a more stable and equitable global economy.