Business
FG implements 140 reforms on ease of doing business –Osinbajo

Vice President Yemi Osinbajo says that the Federal Government has implemented no fewer than 140 reforms on ease of doing business in the past three years.
Osinbajo said this at the 2nd Presidential Enabling Business Environment Council (PEBEC) Awards 2019 held at the State House Banquet Hall on Wednesday in Abuja.
He said he was delighted to celebrate the phenomenal successes of the PEBEC reforms and recognition of those who made it all possible.
“Our incredibly selfless and committed private sector partners and the sterling performance of many in the public sector; in the past three years, Nigeria has implemented more than 140 reforms to make doing business in Nigeria easier.
“Some of the successful reforms include the ability to-reserve a business name within four hours.
“Complete the registration of a company within 24 hours online.
“Apply for and receive approval of a visa-on-arrival electronically within 48hrs.
“File and pay taxes online; and access specialised small claims commercial courts in Lagos and Kano
“The World Bank also reported in 2018 that 32 states of Nigeria improved their Ease of doing business environment led by Kaduna, Enugu, Abia, Lagos and Anambra,” he said.
He said that in 2019, PEBEC set a goal to move Nigeria into the top-100 on the 2020 World Bank Doing Business Index (DBI)
Osinbajo said that to achieve that, Nigeria would be pursuing the continued implementation reforms across all indicators.
He said that the indicators included implementation of legislative reforms, specifically the passage of the new Companies and Allied Matters Act and the Omnibus Bills.
The vice president listed others as the expansion of the regulatory reform program started with NAFDAC and NAICOM to include other regulators; the establishment of a National Trading Platform for ports; and the concession of our major international airports.
“PEBEC has now commenced the fourth 60-day National Action Plan (NAP 4.0) on Ease of Doing Business.
“NAP 4.0 is running from the 1st of March to the 29th of April, 2019. It aims to deepen the reforms delivered over the past 3 years and drive institutionalization.
“We have highlighted key action items in all of the focus areas to ensure they do not unravel and to ensure we drive sustainability
“Some of the targets achieved in the last NAP 3.0 include driving registration for utilization of the National Collateral Registry to facilitate access to credit for SMEs.
“Clearance of all pending NAFDAC registration applications to improve efficiency; and creation of a strengthened single joint cargo examination interface in all airports & seaports for import and export to reduce the time spent at the ports.
“NAP 4.0 will focus on initiatives such as enforcing compliance with SLAs across all indicators/focus areas, driving the passage of the CAM Bill 2018 for improved effectiveness of company law in Nigeria,” he said.
He said that other areas of reforms were enhancing efficiency in the small claims court, and enhancing the application and approval system for visas on arrival, to mention a few.
According to him, the council will continue to work extensively with all MDAs, the National Assembly and other key stakeholders.
In her address, Coordinator PEBEC and Senior Special Assistant to the President on Industry Trade and Investment, Dr Jumoke Oduwole, said the award was to appreciate Ministries, Departments and Agencies(MDAs) which had contributed in implementation of PEBEC mandate.
She said that the reforms were aimed at reducing bureaucratic bottlenecks and improve perceptions about Nigeria’s business environment.
On his part, Mr Okechukwu Enelamah, the Minister of State for Industry, Trade and Investment, said the award was a landmark in journey of creating an enabling business environment in Nigeria.
He said that PEBEC was a foundation for creating a Nigeria that the citizens deserved.
The awards which came under various categories were also presented to various government agencies and private establishments which had creditably acquitted themselves in terms of reforms in ease of doing business.
Notable among the awards was the World Bank’s sub-National Award for Reformed States in 2018 which went to Anambra, Abia, Lagos, Enugu and Kaduna States.
Gov. Okezie Ikpeazu of Abia told State House correspondents that he was excited over award and was dedicating it to God and Abia people.
“But I must acknowledge the dark room team– the various ministries and departments and agencies that reformed and reformed quickly.
“This falls in line with our promotion for the Enyimba Economic City, my ambition is to make Abia the investment destination not only in Nigeria but in Africa and the only way to do this is to ensure that the ease of doing business is enhanced in Abia,’’ he said
Business
Dangote Refinery Boosts Fuel Exports as Gulf Refineries Shut Down

By: Fabian Apechihin
The Dangote Petroleum Refinery has ramped up fuel exports to international markets amid widespread refinery shutdowns in the Middle East, industry sources confirmed.
A senior official at the $20bn Lagos-based plant told The PUNCH that the facility exported significant volumes of petrol (PMS), diesel (AGO), and aviation fuel (Jet A1) to foreign buyers in August, following earlier shipments in June and July.
The surge comes as Saudi Aramco and other regional producers face heavy maintenance schedules, tightening fuel supply. Aramco has already shut down two plants and plans further closures, including its 460,000 b/d Satorp refinery in Jubail for a 60-day turnaround in November–December. Kuwait and India are also scaling back capacity for maintenance and seasonal demand.
According to Argus Media, these shutdowns are pushing Gulf nations to import record volumes of gasoline, with Saudi Arabia and the UAE sharply increasing purchases from Europe and other markets in recent months.
While some reports pointed to operational constraints at Dangote’s 650,000 b/d facility, the company dismissed such claims, insisting production is on track to reach 700,000 b/d by December. Earlier this year, Aliko Dangote announced the refinery had sold two cargoes of jet fuel to Saudi Aramco and recently achieved exports of about 1 million tonnes of petrol between June and July.
“With Gulf refiners offline, Nigeria has now emerged as a net exporter of refined products,” Dangote said.
Analysts suggest the extended refinery outages in the Middle East will further strengthen demand for Dangote’s output, positioning the Nigerian plant as a key supplier in regional fuel markets.
Would you like me to tighten this further into a 5–6 paragraph wire-style news brief, or keep it as a detailed feature-style report with more context on Gulf refinery shutdowns?
Business
US Oil Exports to Nigeria, Others Fall to 3.3m bpd as Local Output Rises

By: Fabian Apechihin
The United States’ crude oil exports to Nigeria and other African countries fell for the fifth consecutive month in July 2025, averaging 3.3 million barrels per day (bpd), the lowest level since March 2022.
The Organisation of Petroleum Exporting Countries (OPEC) disclosed this in its August 2025 Monthly Oil Market Report (MOMR), attributing the decline to weaker flows to Europe and Africa, particularly Nigeria, but without giving further details.
Industry analysts link the slowdown to the ramp-up of local refining capacity, especially the 650,000 bpd Dangote Refinery, which has reduced Nigeria’s reliance on imported crude, including from the US. Vanguard checks also show that crude importation has slowed further in recent months due to improved domestic production.
According to OPEC data, Nigeria’s crude oil output—excluding condensates—rose by 11 per cent year-on-year to 1.559 million bpd in July 2025, up from 1.386 million bpd in the same period of 2024. This marks the country’s highest monthly production level so far this year.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) corroborated the figures, stating that overall output, including condensates, exceeded 1.8 million bpd in July.
Gbenga Komolafe, Chief Executive of the NUPRC, said the milestone was achieved through the agency’s “Project 1 MMBOPD Incremental” initiative, supported by a multi-stakeholder collaborative framework.
“We are glad to report that we crossed the 1.8 million bpd mark on peak production last month, with average production hovering at 1.78 million bpd,” Komolafe stated.
He added that the Commission is working to sustain production growth by optimising the Maximum Efficient Rate (MER) framework, improving produced water management, and aligning operational shutdowns and maintenance schedules to minimise disruptions.
“With these measures and continued collaboration, the presidential mandate on production increase is well within reach,” he said.
Do you want me to make this rewrite more concise for a newspaper front-page brief or keep it detailed like a full energy market report?
Business
NDYPC Hails Otuaro’s Reforms in Presidential Amnesty Programme

• Lauds transparency, fairness in beneficiary selection and grassroots empowerment
• Says reforms align with Tinubu’s Renewed Hope Agenda, restore trust in Niger Delta
The Niger Delta Youths for Positive Change (NDYPC) has commended the Administrator of the Presidential Amnesty Programme (PAP), Dr. Dennis Otuaro, for what it described as bold, people-focused reforms that are restoring trust and delivering tangible benefits to the Niger Delta.
In a statement signed and issued by Comrade Elliott Yibakeni, after the conclusion of leadership training sessions with ex-agitator leaders in Abuja, the group said the PAP, once in urgent need of renewal, is now undergoing a transformation that reflects transparency, fairness, and accountability.
“At a time when public trust in institutions was waning, Dr. Otuaro has emerged as a symbol of credibility and transformation,” the statement read. “His visionary leadership is restoring integrity, empowering communities, and driving a sustainable development agenda that resonates with the aspirations of the Niger Delta.”
According to NDYPC, under Otuaro’s leadership, beneficiary selection has become fair and merit-based, ending years of favoritism and political interference. The group added that access to education, skills training, and empowerment opportunities, both locally and abroad, is now guided by equity and open competition.
The group highlighted several internal reforms, including improved staff welfare, strengthened professional capacity, and strict adherence to best practices in public procurement. These, it said, have made the PAP more efficient, responsive, and transparent.
NDYPC also praised Otuaro’s inclusive governance style, noting his sustained engagement with traditional rulers, women leaders, civil society organizations, and local communities. This approach, the group said, has strengthened peace-building efforts and deepened trust between the PAP and the people it serves.
In line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, the PAP has maintained consistent payment of stipends to ex-agitators and extended direct support to vulnerable populations. NDYPC also applauded new healthcare interventions for ex-agitators facing health challenges.
The statement further commended the programme’s investments in scholarships, vocational training, and economic empowerment initiatives aimed at preparing Niger Delta youths for leadership, innovation, and sustainable livelihoods.
“Every decision reflects a deep commitment to public trust, responsible stewardship, and long-term development,” NDYPC stated. “Under Dr. Otuaro’s watch, the Niger Delta is rising stronger, united, and filled with renewed hope.”
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