Abuja, Nigeria — Former Nigerian President Muhammadu Buhari has commended Dr. Akinwumi Adesina for what he described as an exceptional and historic tenure at the African Development Bank (AfDB), marking the end of Adesina’s two-term leadership of the continental financial institution. In a message of goodwill, Buhari expressed satisfaction with Adesina’s achievements, praising his transformative…
Abuja, Nigeria— The World Bank has raised concerns over the Nigerian National Petroleum Company Limited’s (NNPCL) partial remittance of revenue gains following the removal of the Premium Motor Spirit (PMS) subsidy. This observation was detailed in the World Bank’s latest Nigeria Development Update (NDU), released in May 2025. The report indicates that despite the official…
Abuja, Nigeria— Social media activist Martins Otse, popularly known as VeryDarkMan (VDM), has been released from the custody of the Economic and Financial Crimes Commission (EFCC) after five days. This was confirmed by his legal representative, Deji Adeyanju, who told our correspondent on Wednesday, “He has been released.” Otse had been in EFCC custody since…
Abuja, Nigeria — The Federal Ministry of Art, Culture, Tourism, and Creative Economy has unveiled the Creative Economy Development Fund (CEDF), a strategic financial initiative aimed at unlocking opportunities for creatives and entrepreneurs across Nigeria. The announcement was made by Ms. Nneka Anibueze, Special Adviser to the Minister of Art, Culture and Creative Economy, Hannatu…
Akure, Nigeria — Ondo State has emerged as the nation’s leading sub-national in fiscal responsibility, recording the sharpest domestic debt reduction across Nigeria’s 36 states. This development was confirmed through fresh statistics released by the Debt Management Office (DMO), which compared states’ debt profiles from 2023 to 2024. The report revealed that Ondo State reduced…
Lagos, Nigeria — The Cherubim and Seraphim Church (Praying Band) has called on the Federal Government to prioritize job creation and youth empowerment as a strategy to curb insecurity and killings across Nigeria. The call was made by His Eminence Ferguson Eneogwe, Supreme Head of the Church, in a statement commemorating the Church’s 100th anniversary,…
Abuja, Nigeria — The Presidential Compressed Natural Gas Initiative (PCNGI) has rolled out a revised transport fare structure for intra-city routes within Nigeria’s Federal Capital Territory (FCT), aimed at easing the economic burden on commuters following the fuel subsidy removal. The update was disclosed by Mr. Michael Oluwagbemi, Programme Director of PCNGI, during a sensitization…
Warri, Delta State — The Nigerian National Petroleum Company Limited (NNPCL) has come under intense criticism from energy stakeholders and industry analysts over the shutdown of the Warri Refining and Petrochemical Company (WRPC), despite a reported $897.6 million overhaul. The refinery, which was declared operational in December 2024 following years of dormancy, ceased operations on…
Abuja, Nigeria — The Debt Management Office (DMO) has raised the alarm over Nigeria’s ballooning public debt, which surged to ₦144.67 trillion ($94.23 billion) as of December 31, 2024, marking a 48.58% increase within one year. In its latest report released on Friday, the DMO disclosed that the sharp rise from ₦97.34 trillion in 2023…
Abuja, Nigeria — The recent announcement of the newly constituted board of the Nigerian National Petroleum Company Limited (NNPCL) by President Bola Ahmed Tinubu has drawn sharp criticism from the Women in Energy Network (WIEN) over glaring gender imbalance. In a statement issued on Friday, WIEN President Eyono Fatai-Williams praised the president’s reorganisation of the…
Abuja, Nigeria — Nigeria’s oil production saw a decline of 50,000 barrels per day (bpd) in March, averaging 1.5 million bpd in line with its designated quota. The drop comes amid delays in loading the Bonny Light crude grade, following a fire outbreak at the Trans-Niger Pipeline. This development coincided with the Organisation of Petroleum…
Abuja, Nigeria — Nigeria is losing an estimated $10 billion annually due to its inability to tap into the lucrative global honey market, a challenge largely attributed to an underdeveloped beekeeping industry. This concern was raised by Gideon Dagundoro, President of the Grassroots Beekeepers Association of Nigeria, in an interview where he urged the federal…
Onitsha, Nigeria — The Federal Government has introduced a specialized workforce development initiative aimed at strengthening Nigeria’s industrial sector, particularly in metallurgy and steel production. Speaking at the inauguration of a Boot Camp Training Programme at the Metallurgical Training Institute (MTI), Onitsha, Dr. Chris Isokpunwu, Permanent Secretary of the Federal Ministry of Steel Development, underscored…
Abuja, Nigeria — The Federal Government has intensified efforts to rejuvenate Nigeria’s steel sector through the Nigerian Metallurgical Industry Bill 2023, aimed at strengthening regulatory oversight and fostering sustainable growth. The Ministry of Steel Development convened a stakeholder meeting to deliberate on the Bill, which is expected to provide a structured legal and regulatory framework…
Abuja, Nigeria — The House of Representatives Committee on Public Accounts has opened an investigation into outstanding debts owed to the Federation Account by the Nigerian National Petroleum Company Limited (NNPCL) and several oil firms. The probe was initiated following concerns raised by the Office of the Auditor General for the Federation, highlighting unresolved financial…
