News
Nigerians to Pay N234 Per Litre of Petrol- NNPC

Mele Kyari, group managing director of Nigeria National Petroleum Corporation (NNPC), has said that the corporation can no longer bear the over N120 billion monthly subsidy for Premium Motor Spirit (PMS).

Kyari stated this during the weekly media briefing organised by the Presidential Communication Team at the State House, Abuja, on Thursday.
According to him, the actual cost of importation and handling charges amounts to N234 per litre, while the government is selling at N162 per litre.
He added that the NNPC absorbs the cost differential which is recorded in its financial books.
Kyari, however, said that since NNPC could no longer bear the cost, sooner or later Nigerians would have to pay the actual cost for the commodity.
According to the GMD, the NNPC pays between N100 billion and N120 billion a month to keep the pump price at the current levels.
He said that market forces must be allowed to determine the pump price of petrol in the country.
“Our current consumption (evacuation) from our depots is about 60million litres per day. We are selling at N162 a litre. Current market price is 234, actual market price today.
“The difference between the two, multiply by 60million, times thirty, will give you per month.
“This is a simple calculation you do. If you want exact figures from our book, I do not have it from this moment but it’s between N100billion and N120billion per month.
“We are putting the difference in the books of NNPC and we cannot continue to bear,’’ he said.
Timipre Sylva, minister of State for Petroleum Resources, who also spoke at the event, expressed the hope that the Petroleum Industry Bill (PIB) would be passed into law in April.
According to him, frantic efforts are being made by the legislators to complete work on the bill and pass it, in line with the aspirations of critical stakeholders in the petroleum sector.
“The National Assembly has expressed the intent to pass the PIB into law by April 2021, every effort is being made to support the National Assembly to meet this target,” he said.
While enumerating the gains of the PIB to Nigerians, the minister said it would create additional infrastructure across petroleum value chain.
He added that it would increase petroleum activities as well as enhance the livelihood of inhabitants of oil producing communities.
He said the bill would create additional infrastructure across the petroleum value chain especially from mid-stream and down-stream.
He added that critical infrastructure would also be developed, while utilising the incremental revenue from increased petroleum activities.
Sylva said it would also provide additional infrastructure in the host communities arising from the host community trust.
The minister further stated that more businesses would be set up to support increased activities within the petroleum value chain.
“Greater confidence would be engendered with certainty in the petroleum industry, which will lead to increased investments.
“Nigeria will occupy its place among commits of nations who have updated their petroleum industry laws in line with current realities.
“The bill will also enable a structured monetisation of fossil fuel resources before the whole world turns to renewables.
“It will also impact positively on the Nigerian economy with multiplier effect on the petroleum sector,’’ he said.
The minister also expressed the hope that the bill when passed, would lead to an increase in the use of gas for domestic purposes.
He said this would create a healthier society as well as provide job opportunities across the country.
News
NITDA Supports CAC AI Driven Transformation

By Oluwole Alao
Kashifu Inuwa CCIE, the Director General of the National Information Technology Development Agency (NITDA), has pledged the Agency’s full support for the Corporate Affairs Commission’s (CAC) artificial intelligence–driven transformation as the Commission marked its 35th anniversary in Abuja.

Delivering a goodwill message at the celebration, which was held at the Ladi Kwali hall of the Abuja Continental Hotel, Inuwa commended CAC for its uncommon consistency and resilience, noting that while many organisations rise and fall after initial success, CAC has continued on a steady growth trajectory.
“We know organisations go up and come down, but some will keep thriving, thriving, and thriving, and today, this is what we are witnessing for CAC,” he said.
Reflecting on his early engagement with the Commission, the NITDA boss recalled that the Registrar General made organisational transformation a priority from the very start of his leadership, particularly in embracing digital innovation.
According to Inuwa, the current era demands more than basic digitisation, stressing that meaningful transformation can only be achieved through the integration of artificial intelligence into core operations.
“We are in the AI era, and the only way to transform today is to embrace and integrate AI into your operations. This is exactly what the Registrar General is doing,” he stated.
He assured CAC of NITDA’s commitment to working closely with the Commission to embed AI across its numerous processes, explaining that the technology would infuse intelligence into workflows, simplify company registration and business management, and strengthen cybersecurity.
“We will make sure you integrate AI into CAC processes. With AI, it will infuse intelligence in everything you do and make things easy for Nigerians to register companies and manage businesses,” Inuwa averred.
The NITDA DG added that deploying advanced AI tools would help CAC staff stay ahead of fraudsters and curb hacking and fraudulent alterations of company records, while also safeguarding the system through responsible deployment.
“At NITDA, we will make sure you deploy ethical and responsible AI in your operations, with the right guardrails in place,” he assured.
He further described CAC’s digital reforms as bold and impactful, noting that the Commission has reduced company registration timelines from several months to as little as 24 hours. He added that further integration of AI would enhance name search and reservation, automate filings, improve corporate governance, and significantly reduce fraud.
He also highlighted NITDA’s ongoing role in reviewing CAC’s digital and AI transformation roadmaps, providing guidelines, standards, training support, and safeguards to ensure sustainable, people-centred, and secure digital services.
The NITDA DG congratulated CAC management, staff, and members of the National Assembly for their support, expressing confidence that the partnership would further strengthen Nigeria’s digital business environment in the years ahead.
News
U.S. Slams Nigerians: Overstays Jeopardize All Visas

The United States has warned Nigerians that overstaying their visas could jeopardise travel opportunities for other citizens seeking to visit the US for education, business, or family purposes.

The warning came amid ongoing immigration crackdowns and tighter travel restrictions under the administration of President Donald Trump.
In a statement posted on X on Monday, Feb. 9, the U.S. Mission in Nigeria stressed that compliance with visa rules is essential to protecting access for Nigerians who travel responsibly.
“Visa overstays by Nigerian travellers can affect opportunities for their fellow citizens,” the Mission said. “Strengthening compliance helps protect access for students, business travellers and families who travel responsibly.”
The Mission also urged Nigerians to report cases of visa fraud to [email protected] or [email protected]
News
CAC Pushes Single National Register to Curb Corruption Loopholes

Nigeria’s Corporate Affairs Commission (CAC) has urged creation of a unified national beneficial ownership register to bolster anti-corruption efforts and corporate transparency.

CAC
CAC Registrar-General highlighted how fragmented sectoral registers breed duplication, inconsistencies, and regulatory gaps during the Commission’s 35th anniversary Anti-Corruption Day in Abuja.
ICPC Chairman Dr. Musa Aliyu, via representative Demola Bakare, praised CAC’s role in fostering accountable business environments that drive sustainable growth.
Global evidence links transparent institutions to stronger economies, with clear rules, accessible data, and open operations as key pillars.
CAC’s oversight on company registration, disclosure, and compliance directly builds investor trust and national integrity, closing avenues for illicit financial flows.
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