Enough is enough! That was the sentiment expressed by Nigerians following the recent gale of kidnappings and terror attacks unleashed by bandits on defenceless Nigerians in various parts of Nigeria, especially in the northern parts (Kaduna, Plateau and Taraba states) where trips hitherto classified as routine are now acknowledged as a walk in the valley Read More…
Tag: Nigeria
EFCC probes Dangote Group over forex misuse
The Economic and Financial Crimes Commission (EFCC) conducted a book inspection at the Dangote Group, probing potential misuse of foreign currency obtained from the central bank, according to two sources familiar with the agency’s actions. Sources within the EFCC disclosed that the inspection at Dangote’s offices in Lagos was part of an investigation expanding beyond Read More…
Stears report urges proactive measures amidst Nigeria’s 2024 inflation concerns
Stears, a prominent provider of economic analysis and data-driven insights, has highlighted the imperative of proactive measures to safeguard Nigeria’s economic stability amidst mounting inflation pressures in its 2024 African Outlook Report. Dumebi Oluwole, Senior Economist at Stears, emphasised the urgency for preemptive actions to address the nation’s economic stability amidst the current headline inflation Read More…
Nigeria aims for substantial oil production surge by 2026
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…
Nigeria’s Power Minister pledges enhanced electricity supply in 2024
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…
Inflation: Specific blueprint critical to manufacturing, other performances in 2024
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 reserves hit 6-year low amid Naira’s struggle
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 reveals 25-man squad pursuing fourth Africa Cup of Nations title
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…
Power Minister assures Nigerians of stable power supply for festive season celebrations
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…
Wildlife killings in Nigeria threaten biodiversity and security
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…