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A parliamentary committee has issued a strict 48-hour ultimatum to federal ministries, departments, and agencies stalling its investigation into a phantom government body. The House Ad-hoc Committee investigating the illicit creation and operational history of the Presidential Foreign Investment Promotion Council declared Thursday as the final deadline for recalcitrant civil servants. Committee Chairman Yusuf Gagdi…
The Federal Government will issue a second power sector bond worth N729 billion to clear verified legacy debts owed to electricity generation companies. The looming capital market intervention aims to inject desperate liquidity into the gasping domestic electricity supply industry. State administrators will host an essential Investors’ Forum on Tuesday to pitch the debt instrument…
A massive overnight Ukrainian drone offensive has killed at least eight people and wounded dozens across several Russian regions. The deadliest strike targeted a major retail logistics hub in the western Tambov region during a night shift. Moscow officials report heavy civilian casualties, while Kyiv maintains that the targeted facilities aid the Russian war effort….
Africa loses seven billion dollars every year to overseas healthcare as citizens flee broken domestic hospitals. More than 300,000 Africans travel to India alone each year for specialist treatment. The Aga Khan University Hospital in Nairobi revealed these figures at a media roundtable in Lagos. Chief Operating Officer Khurram Jamal criticised African governments for prioritising…
Political elites and socio-cultural groups have split over the decision of the All Progressives Congress to retain its Muslim-Muslim ticket for the 2027 presidential election. Critics call the arrangement a political trick, while supporters defend it as a realistic strategy. The dispute highlights the deep religious divisions that continue to shape the country’s political discussions…
The Nigerian Senate has launched an intensive investigation into Aiteo Exploration and Production Company Limited, now known as Nembe Exploration and Production Company Limited, over an alleged remittance default totaling 71.65 million dollars and 30.7 billion naira. The Upper Legislative Chamber handed the investigative mandate to its Committee on Niger Delta Affairs following a motion…
Domestic financial analysts have adjusted their economic models to project that Nigeria’s inflation rate will close the year 2026 at 16 percent. Investment banking firms and research houses simultaneously withdrew their earlier predictions for an imminent interest rate cut by monetary authorities. This collective analytical shift highlights the persistent nature of underlying inflationary pressures across…
The Nigeria Police have arrested the father of Prince Adeniyi Adeyemi, the individual central to a N1.3 billion fake presidential agency scandal. Law enforcement officers detained the elderly man during a morning raid on the family residence in Ogbomoso. Human rights lawyer Femi Falana confirmed the detention and quickly condemned the action as an unlawful…
The World Health Organization has warned that the ongoing Bundibugyo Ebola outbreak has surpassed 1,480 cases, making it the third-largest Ebola epidemic on record. The bulk of the crisis remains concentrated in the eastern region of the Democratic Republic of the Congo, where 1,460 cases and 452 deaths have occurred. International health agencies declared the…
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…
