By Omoniyi David

Chairman of the NEPAD Business Group Nigeria (NBGN), Bashorun J. K. Randle, has emphasized the vital role of the private sector in driving Africa’s economic growth under the African Continental Free Trade Area (AfCFTA).

Randle made the remark ahead of a high-level business forum scheduled for October 30, 2025, at Eko Hotels & Suites, Lagos, themed “Mobilising Africa’s Private Sector for AfCFTA towards Africa’s Economic Development Amid Global Uncertainty.”

He said Africa’s economic transformation depends on the active participation of private enterprises, noting that the forum seeks to develop strategies to boost intra-African trade, industrial competitiveness, and inclusive prosperity.

According to NBGN, the event will promote partnerships and dialogue on policy alignment, trade facilitation, investment promotion, and value-chain development among African economies.

Participants are expected from government agencies, financial institutions, business associations, and regional economic communities across the continent.

By Onyeanya Ebere Immaculata

The Federal Inland Revenue Service (FIRS), has reaffirmed its commitment to a transparent, inclusive, and technology-driven tax system as Nigeria transitions into a new phase of tax administration.

Speaking at the 2025 Emerging Taxpayers’ Tax Clinic held on Tuesday at the Nigerian Army Conference Centre, Asokoro, FIRS Executive Chairman, Dr. Zacch Adedeji, said ongoing reforms aim to simplify processes, strengthen transparency, and rebuild public trust.

“This Tax Clinic is not just a programme; it is a bridge between the government and the governed,” Adedeji said, stressing the need for fairness and collaboration in revenue administration.

The forum focused on the transition to the Nigeria Revenue Service (NRS), and featured service desks, interactive sessions, and expert guidance on registration, filing, and dispute resolution.

Partner agencies included the FCT-IRS, CAC, JTB, TAT, NIMC, and NIPC, alongside professional bodies such as CITN, ICAN, ANAN, NBA, and NMA.

FIRS also launched a multilingual outreach in English, Pidgin, Hausa, Yoruba, and Igbo to enhance inclusivity and promote a more people-centred tax culture nationwide.

By Sarah Sam Adda

The Central Bank of Nigeria (CBN) disbursed $1.259 billion to oil sector operators for fuel imports between January and March 2025, according to data obtained by The PUNCH.

Despite the start of local production from the Dangote Petroleum Refinery, fuel marketers continue to rely heavily on imports — citing pricing advantages and market dynamics as key factors.

Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that marketers supplied 69 per cent of the 21 billion litres of petrol consumed in Nigeria between August 2024 and October 2025.

During the first quarter of 2025, the CBN released $457.83 million in January, $283.54 million in February, and $517.55 million in March — totalling 2.28 billion litres of imported petrol.

Industry sources say the rift between Dangote and fuel marketers is largely driven by price competitiveness.

Ukadike added that fluctuations in global oil prices, exchange rates, and government policy shape the current pricing gap.

Meanwhile, the Major Energies Marketers Association of Nigeria (MEMAN), in its latest Energy Bulletin, pegged the import parity price of Premium Motor Spirit (PMS) at ₦805.46 per litre, citing continued pressure from global crude prices and currency volatility.

The data underscores the tension between government-backed local refining efforts and market-driven import economics, as Nigeria continues to navigate its post-subsidy fuel landscape.