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President Bola Tinubu has approved yet another overhaul of Nigeria’s security architecture, ordering a new committee to produce a five-year defence plan within 90 days, even as fresh data and persistent gun violence cast doubt on whether another framework can address the governance failures that previous reforms left unresolved. The directive, issued at Wednesday’s Federal…
Gunfire tore through the centre of Osogbo on Wednesday afternoon shortly after Governor Ademola Adeleke left the palace of the Ataoja of Osogbo, leaving one man dead and exposing sharp differences between the state government and the police over what actually happened and how many people were harmed. The Osun State Police Command confirmed…
Nigeria saved 15.8 trillion naira from petrol subsidy removal and currency liberalisation between June 2023 and December 2025. Minister of Finance Taiwo Oyedele released the figures during a media briefing on the federal government’s reform scorecard in Abuja. The fiscal windfall mobilised critical liquidity across the three tiers of government. The Federal Government Reform Scorecard…
President Bola Tinubu has directed anti-graft agencies and financial regulators to redirect recovered illicit funds and unclaimed corporate dividends directly into the Nigerian Education Loan Fund. The fiscal intervention channels 50 billion naira in criminal forfeiture proceeds from the Economic and Financial Crimes Commission straight to student accounts. Presidency aides framed the move as an…
Urban rents across Nigeria rose by 33.8 per cent year-on-year, heaping fresh misery on salaried workers, according to the latest Nairametrics Housing Report. The surge in housing costs far outpaces nominal wage growth across major commercial centres like Lagos and Abuja. Landlords are passing on the soaring costs of cement, steel, and private diesel power…
Japan has committed 20 billion naira to expand and rebuild parts of Nigeria’s national electricity grid in Lagos. The Japan International Cooperation Agency will direct the 2.35 billion yen grant toward the Apapa transmission substation. The commercial capital continues to suffer from chronic blackouts caused by decaying switchgear and soaring consumer demand. The fresh funding…
Nigeria’s 2027 general election campaign season formally opened on Wednesday, a day after presidential candidates, party leaders and diplomatic missions gathered in Abuja to sign the first National Peace Accord of the electoral cycle, with the European Union using the occasion to reaffirm that it backs no party or candidate in the contest. The…
The Federation Account Allocation Committee has disbursed a record 3.007 trillion naira to Nigeria’s three tiers of government for July. The disbursement marks an 18 per cent jump from the 2.551 trillion naira shared the previous month. Financial chiefs gathered in Owerri, Imo State, to divide the swollen federation purse. Higher petroleum profits, company taxes,…
President Bola Tinubu on Tuesday summoned the Economic and Financial Crimes Commission (EFCC) and the Ministry of Housing and Urban Development to the State House to settle a question that has trailed Nigeria’s anti-corruption drive for years: what happens to a mansion, an estate or a hotel once a court has stripped a former public…
The Dangote Petroleum Refinery has secured a $1 billion underwriting programme ahead of its planned initial public offering in Lagos. The deal locks in 600 million dollars in funded private placement from Lilium Capital Group alongside a 400 million dollar underwriting commitment. African industrial giants rarely test public capital markets on this scale. The transaction…
