By Seun Ibiyemi Nigeria’s external reserves have risen to $53.11 billion, reaching their highest level in more than 17 years and coming within $142 million of the country’s previous record recorded in 2009. Latest data from the Central Bank of Nigeria (CBN) showed that the reserves stood at $53.112 billion as of August 24, 2026….
By Seun Ibiyemi The Federal Government has inaugurated a technical committee to develop a practical roadmap for increasing fish production and reducing Nigeria’s dependence on fish imports. The Minister of Marine and Blue Economy, Dr Adegboyega Oyetola, inaugurated the Technical Committee on Accelerating Fish Production in Nigeria in Abuja on Thursday, charging members to transform…
By Seun Ibiyemi Sahara Power Enterprise Group (SPEG) has commenced construction of a 12-megawatt gas-fired Independent Power Plant (IPP) in Lagos, targeting improved electricity supply to businesses, residents and public institutions across Ogba, Acme Road, Wemco Road and surrounding communities. The project, located within the Ogba Undertaking of Ikeja Electric Plc, is expected to be…
Four suspected members of the Islamic State West Africa Province (ISWAP) have been killed in an air operation around Kangarwa in Kukawa Local Government Area of Borno State. The precision airstrikes also destroyed 12 logistics boats reportedly belonging to the terrorist group, according to security analyst Zagazola Makama. Makama said the operation was conducted at…
By Seun Ibiyemi Nigeria’s electricity Distribution Companies (DisCos) failed to collect N669.49 billion from customers who were billed for electricity in 2025, highlighting persistent revenue challenges in the power sector. The figure was contained in the 2025 Annual Report of the Nigerian Electricity Regulatory Commission (NERC), which showed that DisCos billed customers N2.99 trillion during…
The Peoples Democratic Party (PDP) has officially commenced its 2027 presidential and National Assembly campaign in Ogun Central Senatorial District, drawing thousands of residents and party supporters across the district. The campaign train moved through the Ifo/Ewekoro, Abeokuta North and Abeokuta South Federal Constituencies on Wednesday, with large crowds gathering along major streets and campaign…
By Seun Ibiyemi The Dangote Petroleum Refinery has warned that it may export excess Premium Motor Spirit (PMS) stocks as rising petrol imports create uncertainty around domestic demand and complicate inventory planning. The refinery said imported petrol accounted for about 43 per cent of PMS supplied into the Nigerian market in July, despite its capacity…
By Seun Ibiyemi President Bola Ahmed Tinubu has charged the management of Nigeria Liquefied Natural Gas Limited (NLNG) to maximise the country’s gas resources by reducing gas flaring and increasing domestic utilisation. Tinubu gave the charge on Wednesday at the State House in Abuja when he received members of the NLNG Board, led by its…
Former Vice President and African Democratic Congress presidential candidate, Atiku Abubakar, has challenged the Federal Government to investigate and prosecute him if it has evidence linking him to alleged financial impropriety in Nigeria’s power sector. Atiku’s challenge came amid a renewed political dispute over the alleged $16bn spent on power projects during the administration of…
By Seun Ibiyemi The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have rejected calls for the reinstatement of petrol subsidy, arguing that the government should instead focus on reviving Nigeria’s refineries and critical petroleum infrastructure. The two major downstream petroleum groups made their positions…
