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Escalating violence across the Middle East has forced more than four million people from their homes and crippled the regional healthcare infrastructure. The World Health Organisation (WHO) warned on 9 April that the humanitarian crisis is deepening as medical facilities face deliberate strikes. Iran and Lebanon bear the brunt of the displacement, with 3.2 million…
Nigerian electricity distribution companies (DisCos) collected N204.74 billion from consumers in January 2026, despite a near-collapse of the national grid. Data from the Nigerian Electricity Regulatory Commission (NERC) reveals that revenue remained high even as power supply plummeted to roughly 2,000 megawatts. This paradox was driven by a debt crisis between gas suppliers and generation…
Global oil price hikes could drive Nigeria’s headline inflation up by 3.1 percentage points as the Middle East conflict continues to batter energy markets. In its latest Nigeria Development Update, the World Bank warned that the conflict has pushed crude prices to $80 per barrel, a 31% increase since hostilities began. This surge is already…
Nigeria has effectively ended its era as a mono-product oil economy. New data from Quartus Economics reveals that between 2010 and 2024, the federation earned N161.1 trillion, with non-oil streams now providing the majority of government income. For the first time in decades, tax and non-oil revenues have eclipsed crude oil as the primary pillars…
The naira opened the week with a quiet show of strength. On April 6, the currency rose to ₦1,377.80 per dollar in the official market. This small gain follows a close of ₦1,380.79 last week. Stability is becoming a habit rather than an accident. The Central Bank of Nigeria (CBN) now uses a matching system…
The Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has warned that Nigeria’s current economic trajectory is failing the poor. Speaking virtually at the Nigeria Business Summit 2026 in Lagos, Edun noted that while average yearly GDP growth has climbed from 2% to 4%, the uptick remains too shallow to lift millions…
Nigerian households face a fresh economic squeeze as the price of Liquefied Petroleum Gas (LPG) jumped 14.3% this month. A kilogramme of cooking gas now retails for N1,500 in many locations, up from N1,300 just weeks ago. This retail spike mirrors a sharp rise in the wholesale market, where the ex-depot price for 20 metric…
A sudden electrical spark forced the temporary closure of Terminal 3 at Murtala Muhammed International Airport on Tuesday. The incident occurred at approximately 2:05 pm, triggering smoke within an operational office and sparking panic among travellers. Emergency responders from the Aerodrome Rescue and Firefighting Services moved quickly to contain the situation before it could escalate…
Africa loses $88 billion to illicit financial flows every year. Wale Edun, Nigeria’s Finance Minister, laid out this grim arithmetic at an African Union tax summit in Abuja. These vanished billions represent a direct theft from the continent’s schools, hospitals, and power grids. The minister argues that Africa can no longer beg or borrow its…
The Nigerian Ports Authority (NPA) has launched a multi-billion-naira rehabilitation of the Onne, Warri, and Calabar ports to decentralise maritime traffic. Abubakar Dantsoho, Managing Director of the NPA, confirmed the investment during the Enugu International Trade Fair. The agency aims to drive cargo to the eastern flank and ease the chronic congestion seen in Lagos….
