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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…
Nigeria is turning to mid-twentieth-century technology to solve its twenty-first-century literacy crisis. The Federal Government will soon launch a dedicated radio station to broadcast lessons for adult and non-formal education learners nationwide. Dr John Edeh, director at the National Commission for Mass Literacy, Adult and Non-Formal Education, announced the plan following approval from the Minister…
Nigeria’s brief season of cooling prices has come to an abrupt end. The headline inflation rate rose to 15.69% in April, up from 15.38% in March. Data from the National Bureau of Statistics shows that the modest economic gains recorded during the first quarter are rapidly melting away. This unexpected reversal shatters local hopes that…
