The Senate has disclosed that about $303 billion in proceeds from stolen crude oil transactions, both local and international, have remained unaccounted for over the years. This revelation followed the presentation of an interim report by the Senate Ad Hoc Committee on Crude Oil Theft and Related Sabotage in the Niger Delta. Presenting the report, …
The internal crisis rocking the Peoples Democratic Party (PDP), one of Nigeria’s foremost opposition parties, has deepened following a ruling by the Federal High Court in Abuja, which stopped the party from proceeding with its planned national convention scheduled for November 15 and 16, 2025, in Ibadan, Oyo State, pending further notice. The PDP’s national …
Power generation companies (GenCos) in Nigeria have lost an estimated ₦987.92 billion in five years due to the persistent electricity crisis arising from frequent collapse of the national grid and poor distribution infrastructure. A recent report released by the Association of Power Generation Companies (APGC) explained that the figure represents the value of electricity that …
Africa remains a formidable force in the global energy market, anchoring international supply chains and national economies through crude oil production. As the world gradually pivots toward cleaner energy, the continent’s biggest oil producers are balancing rising transition pressure with the need to protect vital export earnings and jobs. Today, five African nations stand at …
In February 2022, the Nigerian government stood before the world with a bold claim: it had uncovered 96 terrorism financiers, 424 associates, 123 companies, and 33 bureaux de change linked to violent extremist networks tearing the nation apart. The announcement, delivered by then Information Minister, Lai Mohammed, should have shaken the country to its core. …
Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, has expressed concerns that United States President Donald Trump's threat of military action over alleged Christian genocide could have far-reaching implications for Nigeria's economy and investors' confidence. The renowned economist shared his thoughts on the matter in a statement …
The Nigerian stock market started the week on a bearish note as the All-Share Index (ASI) declined by 0.25 per cent to close at 153,739.65 amid concerns about United States President Donald Trump's threat of military action on Nigeria over alleged Christian genocide. Pinnacle Daily reported that Trump had asked the country’s Defence Department to …
Nigerian airlines have spent an estimated US$5 billion (N7.5 trillion at N1500 per $) on aircraft maintenance abroad over the past five years, as they continue to ferry their fleets to other countries for major maintenance, particularly the extensive “C-checks”. The absence of a fully equipped domestic Maintenance, Repair and Overhaul (MRO) facility capable of …
The Presidency has announced that President Bola Ahmed Tinubu will meet with United States President Donald Trump in the coming days to address renewed allegations of Christian genocide in Nigeria. The statement comes after Trump accused the Nigerian government of failing to stop attacks on Christians and hinted at possible military action to, in his …
Reaching a 55.88 per cent year-to-date return at the close of trading on Friday, October 31, total stock market capitalisation rose to N97.83 trillion, leaving investors with a N7.25 trillion gain in one month on the Nigerian Exchange Limited (NGX). This is one of the largest single-month gains in recent times that the stock market …
