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The Nigerian stock market abruptly snapped its months-long upward trajectory last week as aggressive profit-taking wiped billions off equity valuations. Total market capitalisation on the Nigerian Exchange Limited plummeted by over 4.91 trillion naira within a five-day trading window. This sharp reversal forced the aggregate value of listed equities down to 155.59 trillion naira from…
A new smartphone-based technology can detect bacterial contamination on surfaces within five minutes. Developed by food scientists at the University of Massachusetts Amherst, the diagnostic system removes the need for lengthy laboratory analysis. The innovation provides a rapid tool for hygiene monitoring in hospitals, food processing plants, gyms, and public spaces. Researchers unveiled the portable…
The federal government has partnered with the Food and Agriculture Organisation to deploy a 350,000 dollar intervention programme against bird flu. The newly created Ministry of Livestock Development announced the emergency bilateral agreement on Thursday night to address persistent outbreaks across the country. The technical cooperation framework focuses primarily on improving early detection systems, laboratory…
A severe cholera outbreak has struck several states, infecting 5,260 people and causing 67 recorded deaths. Public health records indicate that children under the age of five are bearing the absolute brunt of the spiraling crisis. The rapid surge in infections has overwhelmed local healthcare facilities already struggling with structural deficits. Medical teams are scrambling…
The Nigeria Labour Congress has declared absolute solidarity with the ongoing nationwide strike action organized by the Nigeria Union of Teachers. Labour President Joe Ajaero issued a stern warning to the federal and state governments regarding the unchecked expansion of the domestic kidnapping industry. The central union described the academic shutdown as a vital and…
Nigerian Exchange Group has urged the Central Bank of Nigeria to integrate capital market development directly into its monetary policy framework. Temi Popoola, the chief executive officer of the group, argued that monetary decisions must treat the capital market as a macroeconomic necessity. He noted that the central bank cannot achieve its policy goals without…
The Nigerian naira held steady against the United States dollar at the start of June’s trading cycle. In the official foreign exchange window, the domestic currency exchanged at an average rate of 1,371 naira per dollar. Data from the FMDQ Securities Exchange tracked early morning transactions oscillating tightly between 1,370 and 1,372 naira. This relative…
The Central Bank of Nigeria relaxed its regulatory grip on the digital banking sector by postponing the enforcement of its strict terminal tracking policy. Payment providers now have until August 1 to lock electronic payment devices to specific physical addresses. The regulator also ordered banks and fintech firms to submit formal proof of system upgrades…
Nigeria’s state-owned energy company has recorded a sharp rise in its financial fortunes. The Nigerian National Petroleum Company Limited generated N4.971 trillion in revenue for April 2026, marking a 79.23 per cent surge from the previous month. This significant rebound follows a relatively sluggish March performance, where revenue sat at N2.774 trillion. The latest monthly…
The Federal Government of Nigeria missed its third-quarter 2025 oil revenue target by a staggering N7.88 trillion, highlighting the state’s chronic fiscal vulnerabilities. Data from the National Bureau of Statistics and the Budget Office reveal that gross oil receipts reached only N3.22 trillion against a quarterly projection of N11.10 trillion. While the figure represents a…
