Reps Approve ₦248.6bn Relief for Kano, Jos, Ikeja DisCos
By Oluwakemi Kindness The House of Representatives has approved a ₦248.6 billion financial relief and debt restructuring package for the Kano, Jos, and Ikeja Electricity Distribution Companies (DisCos). This move announced on Thursday is aimed at stabilising Nigeria’s troubled power sector. The decision followed the adoption of a report by the Public Accounts Committee, which […]
Nigeria’s Debt-to-GDP Ratio Will Rise to 33.1% – IMF
By Sofiat Adenekan-Abdul The International Monetary Fund has projected that Nigeria’s debt-to-GDP ratio will rise to 33.1 per cent by 2027, reflecting growing fiscal pressures and increased borrowing. The forecast, contained in the Fund’s latest Fiscal Monitor Report releases in Washington DC during the IMF-World Bank Spring Meetings, shows a gradual increase from 32.3 per […]
Nigerian Airlines Warn of April 20 Shutdown Over Jet Fuel
By Oluwakemi Kindness, The Airline Operators of Nigeria (AON) have warned that domestic airlines may suspend operations nationwide from April 20, 2026, if the sharp rise in aviation fuel prices is not urgently addressed. In a letter dated April 14, 2026, and addressed to the Executive Secretary of the Major Energies Marketers Association of Nigeria, […]
SEDC Shortlists 210 Innovative Startups for Venture Capital Boost
By Oluwakemi Kindness The South East Development Commission (SEDC) has shortlisted 210 startups from over 1,200 applications received across the South East region for the next phase of its Venture Capital Programme. The selected startups comprise 128 in the Incubator Track and 82 in the Accelerator Track, marking a major milestone in the Commission’s effort […]
NNPC Must Account for N210tn by April 29 – Senate
By Anayo Akwitti The Nigerian Senate has given the management of the Nigerian National Petroleum Company Limited NNPCL, until April 29, 2026, to appear before its Public Accounts Committee to explain an alleged N210 trillion unaccounted for in audit reports spanning 2017 to 2023. The committee directed the Group Chief Executive Officer, Bayo Ojulari, to […]
Oil Windfall May Fade Fast as IMF, UN Warn Nigeria
By Arinzechi Chukwunonso Rising global oil prices driven by tensions in the Middle East may offer only temporary relief for Nigeria and other oil-producing economies, according to fresh warnings from the International Monetary Fund and the United Nations. The caution comes amid growing concerns over disruptions linked to the ongoing Iran conflict, particularly the closure […]
Fuel Price Surge Deepens Hardship for Nigerians Amid Global Oil Crisis
By Jumoke Abubakar The recent surge in petroleum prices across Nigeria is being felt most acutely by ordinary citizens, as rising fuel costs continue to strain household incomes and small businesses. Analysts attribute the increase partly to the ongoing conflict between the United States and Iran, which has disrupted global oil supply and pushed crude […]
Nigeria Ramps Up Oil Production to Cushion Global Economic Shock
By Oluwakemi Kindness Nigeria is ramping up crude oil production to shield its economy from fresh global shocks triggered by the ongoing conflict involving the United States, Israel, and Iran. The Federal Government said output has risen to about 1.86 million barrels per day, as part of urgent efforts to boost foreign exchange earnings and […]
SEC Orders Immediate Freeze of Terror-Linked Assets in Nigerian Capital Market
By Oluwakemi Kindness The Nigeria Securities and Exchange Commission (SEC) has directed an immediate freeze on the assets of 13 individuals and entities recently linked to terrorism financing activities within the capital market. The directive, issued to all Capital Market Operators (CMOs), follows the designation of 10 individuals and three organizations on the Nigeria Sanctions […]
FG Directs Dangote to Boost Sugar Production to 600,000MT by 2030
By Oluwakemi Kindness The Federal Government has stepped up efforts to reduce Nigeria’s dependence on imported sugar, directing the Dangote Group to increase local production to 600,000 metric tonnes annually by 2030. Minister of State for Industry, John Owan-Enoh, gave the directive during a visit to the Dangote Sugar Refinery in Numan, Adamawa State. Nigeria […]