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Nigeria’s petrol imports rose sharply by 59.5 percent in May as oil marketers turned back to foreign suppliers to shore up domestic inventory. The latest operational data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority reveals that daily inbound shipments of Premium Motor Spirit climbed to 5.9 million litres, up from 3.7 million litres…
A fresh legal challenge has emerged over the bench warrant issued against activist and African Action Congress presidential candidate Omoyele Sowore, with human rights lawyer Aloy Ejimakor urging the Federal High Court in Abuja to set aside the order on grounds that it breached the constitutional guarantee of fair hearing. Ejimakor, in a statement…
Nigeria’s railway has carried freight and passengers for well over a century, yet it has rarely paid its own way. That financial reality returned to public attention this month when the Nigerian Railway Corporation (NRC) admitted it can no longer cover its operating costs without borrowing. The corporation said it has been running at…
The United States has released the full text of a 14-point memorandum of understanding with Iran aimed at ending hostilities, reopening the Strait of Hormuz and establishing a framework for sanctions relief tied to compliance on nuclear issues. The document, known as the Islamabad Memorandum of Understanding, was made public after calls for transparency…
Africa’s persistent reliance on raw material exports leaves the continent dangerously exposed to global price volatility, geopolitical friction, and supply-chain chaos. The African Export-Import Bank delivered this sobering assessment in its latest Trade and Development Finance Brief. The report details a familiar structural flaw. Most African nations continue to ship out agricultural goods, crude oil,…
Nigeria’s fragile electricity grid faces a dangerous new security threat in the Middle Belt. The Transmission Company of Nigeria has raised an alarm over a surge in infrastructure vandalism across Niger State. Saboteurs are increasingly targeting critical high-voltage installations that transmit bulk electricity to the federal capital and surrounding states. This aggressive economic sabotage threatens…
The Nigerian military has secured the release of four abducted citizens during a deliberate raid on a terrorist enclave in Katsina State. Combat teams overran a major woodland camp on Tuesday during an aggressive ground push. The targeted offensive forced the criminal syndicate to abandon their captives and flee deeper into the bush. This successful…
Foreign investors poured $3.23bn into Nigerian bonds between January and March 2026, a striking vote of confidence in the country’s sovereign debt that underscores how high interest rates have turned government securities into one of the most attractive bets in frontier markets. The bond figure represented a 63.76 per cent jump from the preceding…
President Bola Tinubu has congratulated the armed forces following a breakthrough in the domestic security campaign. Military operatives have killed a notorious bandit leader responsible for terrorising communities across north-central Nigeria. The successful strike team also secured the release of a high-profile kidnap victim during the same operational push. This dual breakthrough offers a rare…
Nigerian households may soon experience major relief from crushing energy bills. The Nigerian Association of Liquefied Petroleum Gas Marketers projects that retail cooking gas prices could crash to N900 per kilogram by the end of 2026. This optimistic forecast depends entirely on the federal government executing swift supply chain reforms. Consumers currently endure extreme financial…
