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The Nigeria Customs Service intercepted 15,212 bags of smuggled foreign rice valued at 907.78 million naira during the first quarter of 2026. Data from the Enforcement Investigation and Inspection Department reveals an intensified regulatory clampdown across critical border entry points. Contraband traders continue to exploit porous boundary lines to bypass federal import restrictions and trade…
President Bola Tinubu announced yesterday that the difficult period of his administration’s economic reforms has ended. In his Eid-el-Kabir message, the president declared that the nation has completed its walk through a dark tunnel. He claimed that three years of public sacrifice have stabilized the economy. The president now positions the country as a preferred…
Foreign capital importation into Nigeria jumped by 182 per cent month-on-month to reach $3.37bn in January. The Central Bank of Nigeria disclosed the sharp increase in its latest monthly economic report, contrasting the data with the $1.25bn recorded last December. Aggressive monetary tightening and attractive local yields motivated the sudden influx of international cash. However,…
The Nigerian National Petroleum Company Limited has launched a fierce legal defense of fuel imports to prevent a private monopoly. In a counter-affidavit filed at the Federal High Court in Lagos, the state oil firm urged judges to dismiss a lawsuit by Aliko Dangote. The billionaire’s twenty-billion-dollar refinery wants the court to void import permits…
Global crude prices tumbled as traders weighed erratic diplomatic signals regarding a potential peace deal to end the US-Israel war on Iran. Brent crude fell 5 percent on Sunday to stand at $98.47 a barrel for July futures. This represents a 9 percent drop over the past month. Despite the decline, global prices remain more…
The National Emergency Management Agency (NEMA) has returned a batch of 497 stranded Nigerian migrants from the neighbouring Niger Republic. The repatriated citizens arrived at the Malam Aminu Kano International Airport in Kano aboard a chartered aircraft early this week. Officials executed the evacuation operation in collaboration with the International Organisation for Migration (IOM) under…
Armed bandits abducted a local health practitioner and his wife during an early morning raid in Kogi State. The gunmen attacked the Okebukun area of Iluke town in Kabba-Bunu Local Government Area around 1:00 am on Thursday. Known locally as “Dr Ebi,” the victim runs a clinic that serves the agrarian settlement. The attackers forced…
President Bola Tinubu has condemned the killing of an educator during a coordinated raid on schools in the Esiele community of Oyo State, labelling the act barbaric. Gunmen riding motorcycles invaded three education centres in the Oriire Local Government Area last Friday, abducting an unknown number of pupils, students, and academic staff. The Presidency confirmed…
The Federal High Court in Abuja has granted bail to the former governor of Kaduna State, Nasir El-Rufai, following his arraignment by the state. Justice Joyce Abdulmalik set the bail bond at ₦100 million on Monday, attaching exceptionally strict conditions to his temporary release. The state is prosecuting the influential politician over a five-count amended…
Germany has shifted its approach to Nigeria from traditional aid to a commercial alliance, sealing a €365 million development and investment partnership framework. The agreement, signed in Abuja, includes a €65 million financial and technical cooperation package for the 2026–2027 cycle, alongside a €300 million export credit line designed to de-risk private capital. This framework…
