Nigeria’s upstream oil regulator unveiled a bold target of achieving a daily production of 2.6 million barrels of oil and condensates by 2026, marking a significant leap from the 1.6 million bpd output recorded in 2023. The country, a key oil exporter in Africa, has grappled with reduced production levels attributed to crude theft, pipeline Read More…
The Minister of Power, Mr. Adebayo Adelabu, has reaffirmed the commitment of his ministry to prioritise electricity supply in Nigeria throughout 2024, aligning with President Bola Tinubu’s agenda for a transformative shift in the country’s power sector. According to Mr. Bolaji Tunji, Special Adviser, Communication, and Strategy to the Minister of Power, Adelabu emphasised the Read More…
By Rukayat Moisemhe, News Agency of Nigeria (NAN) Some Stakeholders in the manufacturing sector say Nigeria needs a specific blueprint to critically address the impact of inflationary pressures on all economic activities in the country. According to the World Economic Forum’s Global Risks Report 2023, the world’s top current risks are energy, food, inflation, and Read More…
Nigeria’s foreign exchange reserves plunged to $32.87 billion by the end of December, marking a six-year low, as revealed in recent data. The country’s central bank had been actively selling dollars to stabilise the weakening naira, exacerbating the ongoing challenges faced by the currency. Kyle Chapman, an FX markets analyst at London-based Ballinger & Co, Read More…
Nigeria Football Federation (NFF) Communications Director Ademola Olajire announced the selection of a 25-player team aiming to secure a fourth Africa Cup of Nations (AFCON) title. The squad, curated by Head Coach Jose Peseiro, comprises three goalkeepers, nine defenders, five midfielders, and eight forwards. In Olajire’s statement, he highlighted the return of Captain Ahmed Musa Read More…
The Minister of Power, Mr. Adebayo Adelabu, reaffirmed the commitment to ensure uninterrupted power supply across Nigeria during the Christmas and New Year celebrations, offering reassurance to citizens. In a statement titled “Fostering Unity and Progress,” Mr. Bolaji Tunji, Special Adviser for Strategic Communication and Public Relations to the Minister, conveyed Adelabu’s message emphasising unity Read More…
Nigeria’s wildlife is under severe threat from illegal hunting, poaching, and habitat loss, as recent incidents of killing endangered elephants and booted eagles have shown. The government has launched an investigation into these cases, but more action is needed to protect the country’s rich biodiversity and ensure its stability and prosperity. The killing of two Read More…
The Central Bank of Nigeria (CBN) has reversed its earlier decision to ban banks and financial institutions from transacting in cryptocurrencies, acknowledging the global trend towards regulating digital assets. The bank issued a new circular on December 22, outlining the rules and requirements for firms dealing in crypto assets. The CBN imposed a ban on Read More…
If there is no chicken for the celebration of Christmas this year, it won’t be because people have suddenly lost their appetite for chicken. It will be an indication of the state of the economy and the privation many Nigerians are going through. As you and I know, the fact that many people now trek Read More…
In a series of successful operations, the National Drug Law Enforcement Agency (NDLEA) seized substantial quantities of illicit drugs across Nigeria, culminating in multiple arrests. The agency’s efforts led to the recovery of Tramadol and Rohypnol pills bound for South Africa at the Murtala Muhammed International Airport in Ikeja, leading to the apprehension of suspects Read More…
