Nigeria will host the first-ever West Africa Economic Summit in 2025, as part of efforts to strengthen regional integration and economic development. President Bola Tinubu has extended formal invitations to leaders across the sub-region, including Togo’s President Faure Gnassingbé. The invitation was delivered in person by Nigeria’s Minister of State for Foreign Affairs and Special…
A former President of Nigeria, Olusegun Obasanjo has said he and the Federal Executive Council, FEC, did not grant any contract approval to Sunrise Power and Transmission Company Limited, the company that lifted the Mambila Power Project contract. This was revealed on Monday, by the Third Prosecution Witness, PW3, Umar Babangida in the trial of…
Hussaini Kafi in Kano and Juliet Jacob Nigeria’s headline inflation rate declined to 22.97% in May 2025, the lowest recorded in five months, according to the latest report by the National Bureau of Statistics (NBS) The Statistician General of the Federation, Prince Adeyemi Adeniran, disclosed this on Monday in Abuja, describing the 0.74 percent decline…
A call for all staff in Nigeria’s ministry of agriculture to pray to help the country achieve food security has caused controversy. An internal memo from the head of the ministry’s HR department urges staff to attend a solemn prayer session and fast for the next three Mondays. Some Nigerians have responded by questioning the…
Global oil prices jumped after Israel said it had struck Iran in a dramatic escalation of tensions in the Middle East. The price of the benchmark Brent crude rose more than 10%, reaching its highest level since January, before losing some gains. Disrupt Supplies from Energy-Rich Region Traders were concerned that a conflict between Iran…
Korde Abdullah in Lagos The Comptroller-General of Customs (CGC), Adewale Adeniyi, has lauded the Ogun II Area Command for achieving a 40% increase in revenue, describing it as a notable contribution to national development. During a working visit to the Command Headquarters in Abeokuta on Wednesday, Adeniyi praised the leadership of Customs Area Controller, Comptroller…
Airline Operators of Nigeria, AON, on Friday, expressed dismay over the conduct of former Edo State governor, Adams Oshiomhole, at the Murtala Muhammed Airport in Lagos, saying it is unacceptable and another example of the growing trend of unruly passenger behaviour experienced by domestic carriers. Spokesperson for the AON, Professor Obiora Okonkwo, also expressed sadness…
The Central Bank of Nigeria (CBN) has debunked a news story in circulation suggesting that the Bank has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025. The CBN, stated this on Wednesday in a report shared with journalists by the Acting Director, Corporate Communications Department of the…
Korede Abdullah in Lagos The National Institute for Hospitality and Tourism (NIHOTOUR) has launched a statewide compliance enforcement operation across Lagos, targeting hotels, restaurants, and tourism-related businesses. The initiative, which commenced earlier this week, is designed to implement the NIHOTOUR Establishment Act 2022, particularly sections mandating the registration and certification of professionals and establishments within…
A report by the National Bureau of Statistics (NBS), has reveals that Nigeria’s total exports stood at ₦20.6 trillion in the first quarter of 2025, reflecting a 7.42% rise compared to ₦19.18 trillion recorded in the corresponding quarter of 2024. The report published on its website on Wednesday stated that total exports in Q1 2025…
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