Business
FG collected N6.9 billion mining fees across Nigeria in Q1 2025 – Dele Alake
Alake disclosed this via his official X page on Monday.
The Minister of Solid Minerals Development, Dr. Dele Alake, has announced that in Q1 2025, the federal government collected N6,957,826,200 in mining fees across Nigeria.
Alake disclosed this via his official X page on Monday.
“I am pleased to share some exciting developments in the mining sector; in the first quarter of this year, the Federal Government collected an impressive N6,957,826,200 in mining fees and registered 118 new private mineral buying centers,” he stated.
Source: Nairametrics.
Business
Oyedele Chairs G-24 Call for Fairer Global Financial System, Affordable Development Financing
The meeting concluded that domestic reform alone will not shield developing economies from external shocks — affordable finance, effective debt resolution, fairer representation in international institutions, and sustained cooperation are equally necessary.
Business
NAFDAC scolds fake manufacturers: “You are killing Nigerians in order to make money”
He warned that the circulation of counterfeit drinks posed a serious public health concern, urging suspected manufacturers to abandon the illegal trade.
“You are killing Nigerians in order to make money,which is not good.”
That’s the National Agency for Food and Drug Administration and Control (NAFDAC) scolding Nigerians caught in the act of counterfeiting drinks.
The occasion was at Zamfara Plaza, BBA Trade Fair Complex, along the Badagry Expressway, Ojo, Lagos State.
The Assistant Director of the Investigation and Enforcement Directorate of NAFDAC, Mr Kunle Ojo, who led the enforcement said the agency caught some of the suspects in the act and recovered drums, filters, packaging materials, a heating device and other equipment allegedly used in the illicit production process.
The suspects, identified as Okafor and John, were arrested during an enforcement operation in a two-storey building where equipment and materials allegedly used to repackage and produce counterfeit alcoholic and energy drinks where discovered.
The raid, according to NAFDAC, followed credible intelligence and surveillance on suspected counterfeiters operating within the Trade Fair International Market.
He warned that the circulation of counterfeit drinks posed a serious public health concern, urging suspected manufacturers to abandon the illegal trade.
Business
BREAKING: Shell to Exit Nigeria’s Domestic Gas Distribution Business
Shell has agreed to sell its entire interest in the Shell Nigeria Gas Group, which runs a domestic natural gas distribution network, to Nigerian energy firm Vaaris Energy Limited.
The deal, announced on Tuesday, October 13, 2026, covers Shell Petroleum B.V.’s full stake in the business. Shell Nigeria Gas, established in 1998, operates about 170 kilometres of pipelines across Ogun, Abia and Rivers states and supplies more than 130 industrial and commercial customers. Financial terms were not disclosed. Completion remains subject to regulatory approvals and other conditions.
Shell said the business will continue operating as normal and serving customers until the transaction closes. The company does not participate in upstream production, LNG or international gas trading through this unit.
Elohor Aiboni, Shell’s Country Chair in Nigeria, said: “Shell Nigeria Gas has served industrial and commercial customers in Nigeria for more than 25 years, supported by the commitment and expertise of its people. We believe this agreement provides a much stronger platform for the business’ next chapter under new ownership. Shell continues to focus on strategic Deepwater and Integrated Gas positions in Nigeria.”
The sale forms part of Shell’s broader strategy under CEO Wael Sawan to simplify its portfolio and concentrate on higher-return assets. It follows the company’s completed exit from onshore oil production in Nigeria, when it sold the Shell Petroleum Development Company to the Renaissance consortium in 2025.
Vaaris Energy is a privately held Nigerian company with interests across the oil and gas value chain and an existing operational presence in the country.
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