By Seun Ibiyemi The National Economic Council (NEC) has approved a $4.5 billion Project Gazelle 2 refinancing facility, paving the way for the Federal Government to unlock an additional $3 billion in liquidity while restructuring an existing crude-backed loan on more favourable terms. The approval was granted during the 159th meeting of the National Economic…
The Debt Management Office (DMO) has opened subscriptions for its August 2026 Federal Government Savings Bond, offering retail investors annual returns of up to 14.963 per cent as part of efforts to deepen public participation in Nigeria’s domestic debt market. According to a notice issued by the DMO on Monday, investors can subscribe to a…
By Seun Ibiyemi The Senate has threatened to invoke its constitutional powers against the Central Bank of Nigeria (CBN), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Niger Delta Development Commission (NDDC) and other defaulting agencies after they failed to appear before the Senate Public Accounts Committee investigating billions of naira in oil and gas…
By Seun Ibiyemi Nigeria’s electricity metering rate rose to 59.69 per cent at the end of April 2026 as Electricity Distribution Companies (DisCos) installed 111,654 new meters during the month, according to the latest Metering Status Factsheet released by the Nigerian Electricity Regulatory Commission (NERC). The report showed that the national metering rate improved from…
By Seun Ibiyemi The Director-General of the National Institute for Hospitality and Tourism (NIHOTOUR), Dr. Abisoye Fagade, has defended the implementation of the NIHOTOUR Act, insisting that the reforms are designed to professionalise Nigeria’s tourism and hospitality industry and not to victimise operators. Speaking during an interactive session with members of the Association of Nigerian…
By Seun Ibiyemi The governorship candidate of the All Progressives Congress (APC) in Osun State, Asiwaju Bola Oyebamiji, has declared that no political ambition or public office is worth the loss of a single life, stressing that the protection of lives and the welfare of citizens must remain the primary responsibility of any government. Speaking…
By Seun Ibiyemi Sahara Upstream has strengthened crude oil evacuation operations at Oil Mining Lease (OML) 18 with the deployment of MT D Adesanya, a 380,000-barrel Medium Range (MR) tanker designed to improve operational efficiency, increase export capacity and support sustainable energy logistics. The vessel, with a storage capacity of more than 62,000 cubic metres…
The detained self-acclaimed Director-General of the controversial Presidential Foreign Investment Promotion Council (PFIPC), Adeniyi Adeyemi, has denied responsibility for allegedly creating the disputed agency, claiming that several federal ministries, departments and agencies officially recognised, processed and supported its operations. Adeyemi, who is currently in police custody, made the claims in a statement issued on Sunday…
The Transmission Company of Nigeria (TCN) has dismissed allegations that it spent ₦1.28 billion on solar streetlight projects outside its statutory mandate, insisting that the projects were Federal Government-approved constituency interventions assigned to the company for implementation. In a statement issued over the weekend, TCN described as misleading a report by FIJ alleging that the…
By Seun Ibiyemi The Federal Capital Territory High Court has ordered Stanbic IBTC Bank Limited to pay ₦15 million in damages to two former customers after ruling that the bank unlawfully retained and processed their personal information after they had ended their banking relationship. In a judgment delivered on July 29, Justice Kayode Agunloye also…
