IMF Flags Huge Unrecorded Nigerian State Spending
The International Monetary Fund has revealed that Nigeria failed to record public spending worth two…
IMF Flags Huge Unrecorded Nigerian State Spending
The International Monetary Fund has revealed that Nigeria failed to record public spending worth two percent of its gross domestic product in recent official budgets. The multilateral lender explained that the massive accounting omission leaves the country’s reported fiscal deficit understating its actual borrowing requirements. IMF Resident Representative Christian Ebeke disclosed the statistical discrepancy during…
Nigeria Leads African Economy but Lags Globally – IMD
Nigeria has retained its position as Africa’s largest economy while slipping further down international competitiveness rankings. The latest Global Competitiveness Report highlights a stark divergence between raw economic size and systemic productivity. The country outperformed continental rivals in gross domestic product, largely driven by resilient service sectors and a massive domestic market. However, severe infrastructural…
FG Slashes Vehicle Import Tariffs by 67%
The federal government has drastically reduced customs duties on imported vehicles by up to 67 percent to ease economic hardship. The unexpected policy shift targets commercial buses, passenger cars, and essential transport trucks arriving at national seaports. The Comptroller-General of the Nigeria Customs Service confirmed that the directive takes immediate effect across all entry points….
FG Woos Private Capital for $1trn Target
The federal government has called for an aggressive influx of development finance and private capital to achieve its ambitious $1 trillion economic target. Vice-President Kashim Shettima made the appeal during a high-level financial summit in Abuja on Thursday. The administration argues that public revenue alone cannot fund the massive infrastructure deficit blocking national growth. Officials…
NDLEA Seizes 2,530kg of Narcotics in Taraba Raid
The National Drug Law Enforcement Agency has seized 2,530 kilogrammes of illicit drugs and arrested 382 suspects in Taraba State. State Commander Javanson Kwalma announced the cumulative results of the anti-narcotics campaign during a security briefing on Thursday. Operatives intercepted massive quantities of cannabis sativa, tramadol, codeine syrup, and methamphetamine over the first half of…
Burna Boy Smashes African Spotify Streaming Record
Nigerian Afrobeats superstar Burna Boy has broken the all-time record for the most monthly listeners by an African artist in Spotify history. The Grammy-winning musician reached an unprecedented peak of 46.84 million monthly listeners on the digital streaming platform. This achievement allows him to surpass South African singer Tyla, who previously held the continental record…
Witness Clears Emefiele of Stolen Millions
An investigator for the Economic and Financial Crimes Commission delivered a surprising twist in the trial of Godwin Emefiele. The witness told an Abuja High Court that the former central bank governor did not gain from a $6.2 million fraud scheme. Mr Okpoziakpo Eloho testified that forensic evidence failed to link the missing funds to…
Bloody Reprisal Attacks Leave 48 Dead in Niger State
A brutal wave of inter-communal violence between herders and farmers has claimed at least 48 lives in Niger State. Armed herder militias launched a coordinated dawn raid on the Kamuku ethnic community in Tegina, located within the Rafi Local Government Area. The attackers hacked or burned 42 villagers to death, targeting mostly women, children, and…
Nigerian Engineer Admits Diverting $1.64m to Family
A US-based Nigerian engineer has pleaded guilty in an American federal court to diverting $1.64 million into his family’s private bank accounts. The defendant Adebanjo Popoola, manipulated corporate payment systems over several years to channel corporate funds away from his employers. Federal prosecutors revealed that the engineer abused his senior technical access to authorise fraudulent…
Troops Kill Six Terrorists in Plateau Raid
Nigerian army troops killed six suspected terrorists during a fierce gunfight in the troubled hills of Plateau State. Soldiers operating under the Joint Security Task Force intercepted the heavily armed group during a routine clearance patrol. The operational command confirmed that the encounter followed a precise intelligence tip-off regarding militant movements between rural borders. A…