Nigeria moved into a borrowing position in 2025 after a sharp drop in foreign investment inflows and rising payments to investors weakened its financial account. This was disclosed by the Central Bank of Nigeria (CBN) in its latest balance of payments report. The decline happened even as the country’s external reserves increased, pointing to pressure …
In a move that has sent shockwaves across African football, the Confederation of African Football (CAF) has stripped Senegal of the 2025 Africa Cup of Nations (AFCON) title and awarded it to Morocco months after the final was played. The ruling, following Morocco’s appeal over Senegal’s temporary walk-off during the chaotic January final, has ignited …
The directive by President Bola Ahmed Tinubu requiring political appointees seeking elective offices in the 2027 general elections to resign on or before March 31, 2026 has brought several ministers and top government officials with political ambitions under renewed scrutiny. The instruction, conveyed in a circular signed by George Akume and issued through the Permanent …
The Lagos Chamber of Commerce and Industry (LCCI) says the marginal decline in Nigeria’s inflation rate provides cautious optimism for businesses and households, even as persistent risks threaten to reverse the fragile progress. Reacting to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), the Chamber noted that headline …
Global investors and development financiers have praised reforms in Nigeria’s financial sector, describing them as credible and confidence-boosting. They made the comments at the Africa Capital Forum held at The Peninsula London on the sidelines of President Bola Tinubu’s state visit to the United Kingdom (UK). Speaking at the high-level forum, the British Deputy High …
Major Energies Marketers Association of Nigeria (MEMAN) has highlighted a framework for ensuring fair pricing and a steady supply of fuel. The association’s recommendation focuses on maintaining a balance between local production and strategic imports, all underpinned by strong regulation and market-driven competition. Speaking at a quarterly webinar organised by MEMAN, the association’s Executive Secretary/CEO, …
The Nigeria Security and Civil Defence Corps (NSCDC) is deploying over 53,500 personnel across the country to ensure a peaceful Eid-ul-Fitr celebration, the Commandant General, Prof. Ahmed Audi, has announced. According to the Corps’ Public Relations Officer, Babawale Afolabi, the deployment includes tactical and intelligence officers in all 36 states and the Federal Capital Territory …
Nigeria’s oil production declined by nine per cent month-on-month to 1.483 million barrels per day (bpd) in February 2026, down from 1.627 million bpd recorded in January. This is according to the latest report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which tracks crude oil and condensate production. On a year-on-year basis, output also …
Nigeria and the United Kingdom have achieved an all-time high in bilateral trade, reaching £8.1 billion annually. This growth is expected to create hundreds of jobs as Nigerian banks, fintech firms, and creative industry businesses expand operations in the UK. UK’s Twinings Ovaltine opened a £24 million manufacturing facility in Lagos, the first of its …
Escalating tensions between the United States, Israel and Iran have triggered volatility across African equity markets, as investors retreat from risk assets and reposition into safe havens. Markets from Lagos to Johannesburg have recorded sell-offs, cautious trading and sector rotations, driven by surging oil prices, currency pressure and global uncertainty. Brent crude has climbed on …
