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The Nigerian Railway Corporation is considering an upward review of passenger and freight tariffs across its entire rail network. Senior management officials cite a crushing surge in monthly operating expenses as the primary driver behind the looming fiscal adjustment. The proposed hike comes directly after the expiration of a short-lived fifty per cent government holiday…
The Nigerian naira lost its recent momentum on the parallel market, dipping to N1,398 against the United States dollar. Bureau de Change operators across major street markets reported the slide following a fresh surge in corporate and retail foreign exchange demand. The minor depreciation halts a brief period of appreciation that had pulled the local…
The Central Bank of Nigeria has abolished pandemic-era restrictions on personal domiciliary accounts following a notable improvement in foreign exchange liquidity. Under the new directive, individual account holders can now deposit and withdraw foreign currency freely without the rigid caps imposed during the global health crisis. The policy reversal signals growing confidence within the apex…
Nigerian stocks extended their upward trajectory in May as corporate earnings reports triggered a fresh wave of domestic buying. Data from the Nigerian Exchange Limited showed equity investors accumulated over N4.514 trillion in capital gains during the month. The market also staged a swift recovery from its late-May wobble. It reclaimed N431 billion in total…
The Nigeria Democratic Congress has officially chosen former Labour Party flagbearer Peter Obi as its consensus presidential candidate. The opposition party ratified the nomination at its national convention in Abuja after Obi emerged as the sole cleared aspirant. His formal adoption seals a dramatic realignment within the opposition coalition ahead of the upcoming election cycle….
The Nigeria Democratic Congress has commenced its nationwide primary elections today, with an unprecedented financial waiver that exempts unsuccessful contestants from paying nomination fees. Party leaders declared that only victorious aspirants will proceed to pay for formal nomination forms and complete secondary documentation at the national secretariat. The decision emerged from a high-level joint meeting…
A fast-moving Ebola outbreak in the Democratic Republic of Congo has crossed tragic milestones, catching health authorities flat-footed. The World Health Organisation reported nearly 1,000 suspected cases and 220 deaths tied to the virus. Global health leaders concede that the epidemic is actively outrunning containment measures on the ground. Compounding the crisis, the virus has…
The United States has disbursed $187.3m in foreign assistance to Nigeria as Washington considers applying stricter conditions to future funding. Data published by the US Department of State confirms the cash release, positioning Nigeria as the second-largest aid recipient in sub-Saharan Africa this period, behind Ethiopia. The bulk of the capital flowed directly through the…
The Nigeria Security and Civil Defence Corps sealed the Kaduna branch of Inner Galaxy Steel Company for allegedly operating a multi-billion-naira railway vandalism syndicate. A clinical raid conducted by the Commandant General’s Special Intelligence Squad resulted in the immediate arrest of twelve key suspects at the facility. Security operatives launched the sting operation following a…
The Federal Government has launched a nationwide distribution of emergency obstetric and newborn care equipment to 252 health facilities across 30 states. Administered under the Sector-Wide Approach programme, the intervention earmarks roughly $200,000 worth of specialized medical hardware for each participating state. Abuja designs the initiative to curb Nigeria’s stubbornly high maternal and infant mortality…
