News
FG Carves Out 3 Firms from NIPOST, Plans Commission for Courier Industry

Federal Government has created three commercial ventures from the Nigerian Postal Service (NIPOST) even as it said National Postal Commission (NPC) will be established soon to regulate the courier industry, including NIPOST.

The three new subsidiaries, which were carved out in the ongoing reform of the country’s main postal agency are: NIPOST Properties & Development Company; NIPOST Transport & Logistics Company and NIPOST Microfinance.
Mr. Alex A. Okoh, director general of the Bureau of Public Enterprises (BPE), disclosed this in Abuja when he received some labour leaders in his office.
He said the BPE had completed the registration of NIPOST Properties & Development Company and NIPOST Transport & Logistics Company at the Corporate Affairs Commission (CAC).
The Director General added that the process for registration at CAC and also that of obtaining regulatory approvals from the Central Bank of Nigeria (CBN) for NIPOST Microfinance bank had also commenced.
He said the on-going reform of the NIPOST would not attract job losses or retrenchment but would rather create more jobs in the new subsidiaries that will emerge after the reform.
Receiving the leadership of the National Union of Postal and Telecommunications Employees (NUPTE), led by Rev. Nehemiah G. Buba, president, who paid him a courtesy visit, Okoh said NIPOST, after the reform, would still remain 100 percent entity of the federal government as the reform only aims at commercializing its services and making it robust to deliver more efficient postal services.
The Director General reiterated that the benefits of the reform of the sector include the provision of efficient postal services and utilisation of vast assets of NIPOST across the country; reduction in funding from the treasury in terms of subventions to NIPOST and the operation and growth of ancillary services and business to enhance the overall efficiency of NIPOST to create more jobs.
He said, in order to sensitize all the relevant stakeholders on the need for the reform, the Bureau in conjunction with the Federal Ministry of Communication & Digital Economy and NIPOST held zonal workshops in five of the six geo-political zone of the country, except the North-Central Zone which was to be held in Abuja but for the outbreak of the coronavirus (Covid-19) pandemic.
The Director General announced that the reform of the postal sector would lead to the emergence of Nigerian Postal Commission (NPC) as a regulator of the sector to ensure efficiency, service delivery and check abuses.
He said during a tour of some of the countries that have effectively reformed their postal services and are reaping good dividends, it was discovered that in China for instance, its Postal Bank has over 80 million customers because of its rural penetration.
He said given that most rural communities in Nigeria do not have access to banking facilities, the emergence of NIPOST Microfinance Bank would be beneficial to the communities.
On the request by the union leaders for the bureau to intervene in the impasse between NIPOST and the Federal Inland Revenue Service (FIRS) on which of the organisations is statutorily required to collect stamp duties in the country, Okoh assured them that the bureau was already interfacing in the matter and that soon, an amicable solution would be reached.
Buba, commended the federal government for initiating the reform which is now a reality.
He expressed delight over the visit as some of the issues pertaining to the reform, which were hitherto not known to the workers, have been laid bare by the bureau.
It would be recalled that the National Council on Privatisation (NCP), at its meeting held on 31st October, 2017, approved the reform of the Postal Sector and the restructuring and modernisation of the Nigeria Postal Services (NIPOST).
News
Beware of Fake Cerelac Products – NAFDAC

National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians on counterfeit and unregistered Cerelac Mixed Fruits and Wheat products being sold in Lagos.

NAFDAC said Nestle Nigeria, the genuine Marketing Authorisation Holder of the product, received a complaint of suspected counterfeit purportedly manufactured by Nestlé Spain, bearing Batch Code 308002910.
It said that Nestle Nigeria reported that the complainant described that the counterfeit product emitted an odour suggestive of possible contact with fuel.
NAFDAC said that preliminary review of the product by Nestle Nigeria indicated that it had expired, in spite of the container displaying an expiry date of 10-2026, which suggested that the date coding had been tampered with (revalidated).
Nestle Cerelac Mixed Fruits and Wheat is a nutritious infant cereal, designed to be a delicious first food for infants.
NAFDAC said that its post-marketing surveillance’s directorate officers in Lagos conducted a surveillance visit to Maxland Shopping Centre, 193 Ago Palace, Okota, where the product was purchased by the complainant.
It added that the suspected counterfeit and unregistered Cerelac were found on sale at the premises and subsequently mopped up, while Nestle assisted in identifying the distinguishing features between registered and unregistered product.
According to the regulatory agency, Nestle revealed that the unregistered product used a hyphen (-) to separate the day from the year, while the registered product used a slash (/) to separate the day from the year.
“It is important to note that Nestle Nigeria is not aware of the channels through which the products are supplied into the country.
“Healthcare professionals and consumers are advised to report any suspicion of the sale of substandard and falsified regulated products to the nearest NAFDAC office, call 0800-162-3322, or send an email to [email protected],” NAFDAC said.
The agency warned that counterfeit formula often lacked essential nutrients, vitamins and minerals, leading to stunted growth or developmental issues.
It said that such formula might also contain contaminants that might lead to severe health consequences to infants or even death.
NAFDAC reiterated its commitment to safeguarding public health adding that it would continue surveillance activities to ensure the quality, safety, and efficacy of all NAFDAC-regulated products circulating in Nigeria.
It said that all zonal directors of the agency and state coordinators had been directed to carry out surveillance and mop up the revalidated product, if found within the zones and states.
The agency urged distributors, retailers, healthcare professionals, and caregivers to exercise caution and vigilance within the supply chain, to avoid the distribution, sale, and use of fake products.
News
NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.
Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.
“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.
Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.
“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.
He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.
“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.
During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.
Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.
“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.
The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.
In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.
Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.
The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.
News
NRS Takes Over Mineral Royalties Collection Under New Tax Laws

Nigeria Revenue Service (NRS) has assumed responsibility for collecting mineral royalties from mining operators nationwide, following new tax laws effective January 1, 2026.

NRS
The shift emerged from a Thursday meeting between Solid Minerals Development Minister Dele Alake and NRS Chairman Dr. Zacch Adedeji. Their joint statement, endorsed by both, confirms NRS now administers all federally collectible revenues, including royalties.
Enacted by President Bola Tinubu on June 26, 2025, the Nigeria Tax Laws 2025 empower this transition. The Ministry of Solid Minerals Development remains a key partner, supplying pricing data, geological insights, and sector coordination.
NRS Special Adviser Dare Adekanmbi’s statement outlines collaborative steps: a nationwide sensitization program for operators on filing and payments; development of a digital royalty system; and regular joint technical sessions to address issues.
Both agencies pledge orderly, transparent implementation to boost the mining sector. Operators must comply with obligations and join upcoming programs.
The move aims to streamline revenue collection while fostering mining growth.
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