The Federal Government has commissioned an integrated Compressed Natural Gas, CNG, refueling station at Obafemi Awolowo University, Ile-Ife, Osun State, as part of efforts to strengthen domestic gas supply and promote cleaner energy alternatives.....TAP TO CONTINUE READING

Speaking at the inauguration, the Executive Director of the Midstream and Downstream Gas Infrastructure Fund, Oluwole Adama, described the move as a major step toward advancing Nigeria’s gas-powered energy transition.

He noted that the facility goes beyond being just a refueling station, adding that it reflects progress, collaboration, and commitment to expanding domestic gas utilization in line with national energy goals.

“This project represents more than the commissioning of a refueling station. It symbolizes progress, partnership, and purpose in advancing Nigeria’s energy transition, promoting cleaner fuels, and deepening domestic gas utilization in line with national energy objectives,” Adama stated.

On his part, the Vice-Chancellor of Obafemi Awolowo University, Prof. Adebayo Simeon Bamire, praised the initiative, saying the facility will serve both the university community and residents of the surrounding area.

He added that the project would create opportunities for research, hands-on learning, and innovation in alternative energy solutions.

DAILY POST gathered that the federal government-backed initiative forms part of broader efforts to drive renewable energy adoption and support Nigeria’s transition to cleaner fuel sources.

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MTN Nigeria said it invested N1tn in 2025 to expand fibre infrastructure, roll out additional base stations and strengthen network capacity nationwide, as the country’s biggest telco returned to profitability after a choking financial year marked by foreign exchange pressures and negative equity.....TAP TO CONTINUE READING

The capital expenditure, more than double the prior year’s spending, formed part of a broader recovery that saw the company post a profit after tax of N1.1tn for the year ended December 31, 2025. The rebound followed a difficult 2024 in which MTN suspended dividend payments and grappled with balance sheet strain.

Chief Executive Officer Dr Karl Toriola described 2025 as a defining year for the company, linking the improved earnings position to renewed long-term infrastructure investment.

“During the year, we invested N1tn in network expansion and modernisation, more than double the prior year’s capital expenditure. This investment translates to additional base stations, deeper fibre rollout, expanded capacity and improved network resilience across the country because sustaining critical digital infrastructure requires disciplined capital allocation and a deliberate long-term approach,” the executive said.

The telcos’ total subscriber base increased to 87.3 million, up 7.9 per cent, while active data subscribers rose to 53.2 million. Data traffic grew by 34 per cent during the year. These figures reflect sustained demand for digital services across the country and underscore the need for continued investment in network capacity and resilience.

“We are mindful that in a period of economic pressure, expectations from customers are heightened. When Nigerians purchase data or rely on our network for work, education, financial services or daily communication, they expect reliability, fairness and continuous improvement. That expectation is both legitimate and central to our responsibility, Toriola noted.

MTN’s service revenue rose 55.1 per cent to N5.2tn in 2025, while earnings before interest, tax, depreciation and amortisation more than doubled to N2.7tn. Earnings per share improved to N53.07 from a negative N19.05 a year earlier, reflecting the sharp turnaround in operational performance.

Chief Financial Officer Modupe Kadiri said the company’s financial recovery was built on deliberate balance sheet repair, disciplined capital allocation and reduced foreign exchange exposure.

“A year ago, MTN Nigeria was in negative equity. Today, we are declaring a N20 total dividend for the 2025 financial year,” Kadiri stated.

The board approved a final dividend of N15 per share, subject to shareholder approval at the annual general meeting, bringing the total dividend for the year to N20 per share, including an interim dividend of N5 already paid in the fourth quarter.

According to its report, MTN generated N1.2tn in free cash flow during the year and rebuilt shareholders’ equity to N548.7bn, with retained earnings standing at N400.4bn at year-end, signalling restored financial stability after the previous year’s market volatility.

Toriola said profitability would continue to underpin infrastructure expansion, noting that profit enables sustained reinvestment in network quality and broader coverage rather than serving as an end in itself.

“Profit, in our context, is not an end in itself. It is the mechanism that enables continued investment in network quality, broader coverage and enhanced customer experience. As Nigeria’s digital ecosystem continues to expand across fintech, small businesses, education and public services, resilient and future-ready telecommunications infrastructure remains foundational to national development,” he added.

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The Nigeria Civil Aviation Authority has directed Overland Airways to refund passengers who were wrongly charged Value Added Tax on flight tickets purchased before January 1, 2026.....TAP TO CONTINUE READING

The directive followed clarification issued by the Nigeria Revenue Service on the implementation of the new tax regime affecting airline tickets.

Passengers had complained to the regulators after an elderly woman was forced to pay the new tax in 2025, a fee that was expected to take effect on January 1, 2026.

The Director of Public Affairs and Consumer Protection at the NCAA, Michael Achimugu, in a statement on Saturday, disclosed that the matter had been resolved after regulatory engagement with the airline and the Nigeria Revenue Service.

“As directed by the NCAA, the operator, Overland Airways, has reverted with clarification from the Nigeria Revenue Service,” Achimugu said.

He clarified that passengers who bought tickets before the new tax laws came into force should never have been subjected to additional charges.

“Tickets purchased before January 1, 2026 were not affected by the new tax laws,” he said, adding that passengers who bought tickets in 2025 but were later made to pay VAT at check-in in 2026 were not supposed to have been charged.

According to the NCAA, the airline had initially implemented the VAT requirement based on its interpretation of the new fiscal policy, prompting complaints from affected travellers.

Achimugu explained that regulatory clarification became necessary to determine the correct application of the tax.

“The onus was on the NRS to clarify, which they have now done,” he said, noting that the aviation regulator had earlier communicated its position to the airline.

Following the clarification, Overland Airways agreed to correct the situation.

“The airline has committed to redress the situation by initiating a refund for affected passengers,” Achimugu added.

The controversy arose after several passengers complained that they were compelled to pay additional VAT charges at airport counters despite purchasing their tickets months before the tax provisions took effect.

Travellers described the development as unexpected and financially burdensome, especially during peak travel periods in December.

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