A strong domestic refining base is fundamental to building a resilient, energy-secure and sovereign economy. It is also critical for job creation, foreign exchange conservation, macroeconomic stability and the development of export-oriented refining capacity.
The NCC said that seasonal factors, including holiday promotions and increased online activity, likely boosted November’s marginal rise over October.
The Chief Executive Officer of SpringRock Group and founder of bitMART, Dr. Eke Eke, gave the assurance during the official launch of the operations in Lagos at the Civic Centre, Victoria Island.
The producer and promoter of Work and Play Motorsport, Mr Adeoye Ojuoko, said that the initiative was designed to promote Made-in-Nigeria vehicles and grow a sustainable motorsport culture.
Under the new framework, the Tax ID will unify all previously issued Tax Identification Numbers by the FIRS and state internal revenue services into a single, harmonised identifier.
The Executive Director, Sales, Elizade JAC Autoland Limited, Mr. Biola Odukomaiya, disclosed that the company’s 2026 strategy was to make newly made in Nigeria vehicles more accessible through lower-priced products, bundled with maintenance and service packages.
In a statement issued on Friday in Abuja, Oyewole said that the ban would significantly benefit local manufacturers by retaining critical raw materials within the country, thereby improving access to wood for processors and furniture makers.
A current example is his public dispute with Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The 2026 budget is projected at N54.4 trillion, according to the approved 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
The ban is expected to affect exporters and timber traders, particularly in forest-producing states, though the government has yet to outline enforcement mechanisms, penalties, or whether exemptions will apply to processed wood products.
