By Seun Ibiyemi The Presidency on Wednesday dismissed allegations by the presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, that the Federal Government was targeting his business interests and frustrating his political activities ahead of the 2027 general election. The Presidency described the claims as false, politically motivated and lacking any factual basis,…
By Seun Ibiyemi The Senate on Wednesday approved the 2026 budget proposal of the Nigerian Customs Service (NCS), endorsing a revenue target of ₦11.074 trillion and an expenditure estimate of ₦1.295 trillion for the 2026 fiscal year. The approval followed the adoption of the report of the Senate Committee on Customs, Excise and Tariffs during…
By Seun Ibiyemi The naira traded largely stable against the United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, supported by sustained foreign exchange reforms and improved market liquidity despite lingering demand pressures in the parallel market. Official market data showed the local currency closed at ₦1,372.96/$, maintaining its recent stability as…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has warned banks, businesses and members of the public against rejecting the standard ₦100 banknote, reaffirming that both the regular and commemorative versions of the denomination remain legal tender across the country. The apex bank issued the warning in a statement signed by its Acting Director…
…Says move signals deepwater revival By Seun Ibiyemi The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has welcomed ExxonMobil’s $1 billion investment in the Usan Infill Project located in Oil Mining Lease (OML) 138, describing the commitment as a major boost for Nigeria’s upstream petroleum sector and a catalyst for the revival of deepwater drilling activities….
By Seun Ibiyemi Labour unions under the Joint Action Committee (JAC) of the Nigeria Civil Aviation Authority (NCAA) have called on the Federal Government to commercialise or privatise the Nigerian Airspace Management Authority (NAMA), arguing that the move is critical to modernising the country’s air navigation infrastructure and strengthening aviation safety. The appeal was contained…
The Minister of Defence, General Christopher Musa (retd.), on Wednesday directed security personnel across the country not to hesitate in engaging armed bandits and terrorists, warning that any operative who fails to neutralise criminals under the pretext of awaiting orders would be treated as collaborating with them. Musa gave the directive in Sokoto during the…
By Seun Ibiyemi The International Monetary Fund (IMF) has retained its 4.1 per cent economic growth forecast for Nigeria in 2026 but warned that rising prices of food, energy and fertilisers could deepen poverty and worsen food insecurity, despite recent improvements in the country’s macroeconomic stability. The warning came on Wednesday as the Fund also…
By Seun Ibiyemi The Senate on Wednesday declined to immediately investigate the inclusion of the alleged Presidential Foreign Intervention Promotion Council (PFIPC) in the 2026 Appropriation Act, opting instead to await the outcome of an ongoing investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC). The decision followed a motion sponsored by…
By Seun Ibiyemi President Bola Ahmed Tinubu has called on the leadership of the African Export-Import Bank (Afreximbank) to intensify efforts towards mobilising Africa’s human, financial and natural resources to accelerate industrialisation, deepen intra-African trade and drive sustainable economic growth across the continent. The President made the call on Tuesday while receiving a delegation from…
