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Nigeria’s federal government is preparing to sell select state-owned assets to private investors starting in 2026, according to Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. Speaking during the AlUla Conference for Emerging Market Economies in Saudi Arabia on Monday, Edun confirmed that discussions are ongoing regarding which public assets…
The Bank of Industry has obtained regulatory clearance from the Central Bank of Nigeria to establish a Non-Interest Banking window, a development the development finance institution says will broaden financial access for ethically motivated enterprises and underserved segments of the economy. According to a statement issued by the bank, the approval authorises BoI to…
The United Arab Emirates has projected a massive ten-billion-dollar investment push into the Nigerian economy. This ambitious financial commitment emerged during the high-profile Investopia Global Africa summit held in Lagos Nigeria on Monday. Emirati officials indicated that these funds will primarily target the infrastructure, digital economy, and renewable energy sectors. This strategic announcement signals…
The Federation Account Allocation Committee (FAAC) has shared a total of ₦1.97 trillion for December 2025. This disbursement represents the collective revenue generated by the federation during the final month of last year. The committee distributed these funds among the Federal Government, the 36 states, and 774 local governments. This record-breaking figure reflects a significant…
The Dangote Group has officially secured a long-term gas supply agreement with subsidiaries of the NNPC. This landmark pact ensures a steady flow of natural gas to the conglomerate’s massive industrial complex. Specifically, the Nigerian Gas Infrastructure Company will facilitate the delivery of feedstock to the Dangote Refinery. The agreement also covers energy requirements for…
The World Bank Managing Director of Operations, Anna Bjerde, has commenced a high-level visit to Nigeria. Her mission focuses on evaluating the progress of ongoing energy reforms and national job creation initiatives. Arriving today, Sunday February 1, 2026, this visit signals a critical juncture in the relationship between the global lender and Abuja. The strategic…
President Bola Ahmed Tinubu returned to the nation’s capital on Saturday night following a high-stakes state visit to Türkiye. The presidential aircraft, Nigeria Air Force 1, touched down at the Nnamdi Azikiwe International Airport at 8:55 p.m. Several senior government officials, including FCT Minister Nyesom Wike and Finance Minister Wale Edun, received the President…
The Nigerian Senate has officially fixed March 17 for the passage of the 2026 budget. This announcement targets the swift approval of the ₦58 trillion “Budget of Sustainable Growth.” Senate President Godswill Akpabio disclosed this timeline during a plenary session held earlier this week. The upper chamber aims to return the nation to a…
Global energy markets witnessed a dramatic convulsion yesterday as crude oil prices surged to new heights. Nigeria’s premium grade, Bonny Light, soared to $78 per barrel following intensified rhetoric from Washington. This price level represents the highest peak for the national crude grade since last August. Concurrently, the international benchmark, Brent crude, rallied by nearly…
Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has criticised the Federal Government over reports that Nigeria spent about $9 million on foreign lobbyists in Washington, describing the move as another example of misplaced priorities amid worsening socio-economic conditions at home. In a statement posted on his verified X (formerly Twitter) handle…
