In a bid to safeguard the future of Nigeria’s energy sector, the minister of power, Joseph Tegbe, has cautioned industry stakeholders against engaging in actions that might lead to regulatory conflicts, warning that such could undermine the newly decentralized electricity market. Speaking on Tuesday, July 14, at a workshop in Abuja, Tegbe stressed that the …
Nigeria's state governments are receiving more money than at any other time in recent years, but beneath the surge in revenues lies a growing fiscal concern. While internally generated revenue (IGR) has continued to rise in absolute terms, it is losing ground to the rapid increase in allocations from the Federation Account Allocation Committee (FAAC), …
A six-month extension sparks debate over governance, succession and the President's strategy ahead of 2027 President Bola Ahmed Tinubu's decision to extend the tenure of the Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, by six months has ignited fresh debate over governance, institutional succession, and the exercise of presidential discretion as …
Nigeria's economy is expected to maintain steady growth through 2027 as recent reforms continue to strengthen macroeconomic stability, according to the International Monetary Fund (IMF). The Bretton Woods Institution, however, warned that rising food and energy costs, worsening poverty, election-related pressures and weak participation in the global artificial intelligence (AI) boom could threaten the country's …
President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Dr. George Elombi, visited the African Medical Centre of Excellence (AMCE) in Abuja on July 3, 2026, as part of a working tour of Nigeria and the wider region. The visit doubled as a checkpoint on a bold experiment: can Africa …
Tony Elumelu has resigned as the group chairman from the board of directors of the United Bank for Africa (UBA) Plc. The bank disclosed this in a statement on Monday, noting that its Board of Directors, at a meeting held on July 6, accepted Elumelu's retirement letter. It said the board had appointed Non-Executive Director …
The federal government recorded a drop in its electricity subsidy payment in the first quarter of 2026 amid persistent blackouts. A report released by the Nigerian Electricity Regulatory Commission (NERC) shows that the federal government incurred a total electricity subsidy obligation of ₦358.32 billion in the first quarter (Q1) of 2026, down from ₦418.79 billion …
Investors on the Nigerian Exchange Limited (NGX) are set for another dividend season in July, with six listed companies scheduled to reward shareholders. Dangote Cement Plc led the July dividend season with a record N753.8 billion payout that signals strong corporate earnings despite a challenging business environment. The cement giant kicked off the dividend payments …
Global crude oil prices have continued to decline, with Brent, the international benchmark, briefly selling at $70 before rising slightly to $71.57 per barrel on Wednesday, July 2, 2026. The U.S. West Texas Intermediate (WTI) fell to $68.44 per barrel, according to Oilprice.com. This is considered the lowest level in months. The primary driver …
A member of the Imo State House of Assembly representing Okigwe Constituency, Samuel Chidiebere Ogbunikpa, has called on Governor Hope Uzodimma to urgently strengthen the state's emergency response system by establishing functional fire service stations and rehabilitating the dilapidated Okigwe Fire Station following the recent fire outbreak at Eke Okigwe Market. Ogbunikpa made the appeal …
