The National Pension Commission (PenCom) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have recovered more than N3 billion in unremitted pension contributions from defaulting employers as part of efforts to enforce compliance with the Pension Reform Act 2014. The recovered funds have been fully remitted into the Retirement Savings Accounts of affected employees.

According to PenCom, the recoveries were achieved through a joint enforcement initiative with the ICPC aimed at addressing pension contribution defaults and safeguarding workers’ retirement savings. The recovered funds were obtained from employers in the electricity sector that failed to fulfil their statutory pension obligations.

PenCom noted that the partnership with the anti-corruption agency has strengthened enforcement efforts and demonstrated the effectiveness of inter-agency collaboration in ensuring compliance with pension laws. The commission disclosed that the ICPC is currently investigating several private-sector employers referred by PenCom for alleged non-compliance with the Pension Reform Act.

The commission reiterated that employers are required by law to deduct and remit pension contributions into employees’ Retirement Savings Accounts within seven working days after salaries are paid. Failure to comply attracts sanctions, including the recovery of outstanding contributions, penalties, and possible prosecution.

PenCom urged employers, particularly those in the private sector, to regularise outstanding pension remittances and fully comply with pension regulations to avoid enforcement actions. The commission reaffirmed its commitment to protecting workers’ retirement savings and promoting compliance with the Contributory Pension Scheme across Nigeria.

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Dangote Petroleum Refinery has imported its first crude oil cargoes from the United Arab Emirates, marking a significant expansion of its crude sourcing strategy as the company seeks to strengthen feedstock availability amid persistent domestic supply constraints. The refinery purchased two cargoes of UAE crude, representing its first procurement from the Middle East.

The development signals a shift in the refinery’s crude procurement approach, which has largely depended on Nigerian, African, and United States crude grades. The move comes as the company continues to pursue a broader range of crude options to support stable operations and improve flexibility in its refining activities.

Dangote Refinery Chief Executive Officer, David Bird, had previously highlighted challenges associated with domestic crude availability and operational issues at some export terminals, noting that these constraints made it necessary to source additional supplies outside Nigeria.

Industry data indicates that the refinery has already imported crude grades from Angola, Ghana, Libya, and Guyana in 2026 as part of its efforts to diversify feedstock sources and maintain production levels. The refinery is also seeking to increase the number of crude grades it can process in pursuit of a fully merchant refining model.

Despite ongoing efforts by regulators to improve domestic crude supply arrangements, the refinery has increasingly relied on imported crude to sustain operations. Analysts say the latest UAE purchases underscore the refinery’s growing integration into global crude markets and its determination to secure reliable feedstock supplies.

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MDAs spend ₦11.8bn on fuel in four months as rising petrol costs continue to increase operational expenses across federal government agencies.

Data obtained from the Open Treasury Portal showed that Ministries, Departments and Agencies of the Federal Government spent approximately ₦11.85 billion on fuel for vehicles and generators between January and April 2026. The figure represents a significant increase compared to the corresponding period in 2025.

The expenditure reflects growing energy costs faced by public institutions following increases in domestic fuel prices and developments in the global oil market. The Open Treasury Portal, which tracks government spending and budget implementation, recorded the payments under fuel-related operational expenses.

According to the data, spending on motor vehicle fuel rose substantially during the review period, while expenditure on generator and plant fuel also recorded notable growth. The increase highlights the dependence of many government agencies on fuel-powered transportation and electricity generation to sustain operations.

Budget allocations for fuel expenses also increased in 2026, reflecting expectations of higher energy costs throughout the year. Despite the rise in spending, only a small portion of the approved annual fuel budgets had been utilized as of April, leaving a significant balance available for the remainder of the fiscal year.

Beyond vehicle and generator fuel, spending on other categories such as aircraft fuel, sea boat fuel, and fuel for transport equipment also recorded sharp increases during the period. These expenditures contributed to the overall rise in government fuel-related costs.

Analysts say the trend underscores the impact of market-based fuel pricing on public sector operations. As Nigeria’s downstream petroleum sector remains largely deregulated, fluctuations in global oil prices and exchange rates continue to influence domestic fuel costs.

The development has renewed discussions on energy efficiency, alternative power solutions, and cost-management strategies within government institutions as authorities seek to balance operational needs with fiscal sustainability.

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Manufacturing emerged as the highest contributor to Nigeria’s non-oil tax revenue in the first quarter of 2026, generating ₦404 billion through Value Added Tax (VAT) and Company Income Tax (CIT).

This was revealed in the latest fiscal performance data covering key sectors of the economy, showing how industrial activity continues to play a central role in strengthening government revenue beyond crude oil earnings.

The sector’s contribution highlights the growing importance of domestic production and industrial output in Nigeria’s revenue structure. Despite ongoing economic pressures, manufacturing firms accounted for a significant share of tax inflows driven by increased production activities and formal sector compliance.

The data indicates that VAT collections remain a major driver of non-oil revenue, reflecting consumption patterns tied to manufactured goods and services. CIT payments from manufacturing companies also contributed substantially, reinforcing the sector’s position as a key pillar of corporate taxation.

Other sectors also contributed to non-oil revenue generation, but manufacturing maintained the lead, underscoring its expanding footprint in the country’s fiscal landscape. Analysts note that this trend reflects gradual improvements in industrial activity and tax compliance within the formal economy.

The performance comes at a time when Nigeria continues to push for diversification away from oil dependency. Policymakers have repeatedly emphasized the need to strengthen non-oil sectors such as manufacturing, agriculture, and services to stabilize public revenue.

However, challenges such as high production costs, foreign exchange pressures, and infrastructure deficits continue to affect manufacturing output. Industry operators have consistently called for reforms aimed at improving power supply, logistics, and access to affordable financing.

Despite these constraints, the sector’s strong tax contribution in the first quarter of 2026 signals resilience and its critical role in supporting government revenue objectives.

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