When a Nigerian court orders the forfeiture of a mansion in Abuja, a fleet of luxury vehicles in Lagos, or millions of dollars linked to corruption and drug trafficking, the announcement dominates headlines. Anti-graft agencies celebrate the win, and government officials assure Nigerians that the recovered wealth will serve the public good. But once the …
Since the return to democratic rule in 1999, Nigeria’s four-year presidential term, renewable once, has become the political norm. Incumbents often view the first term as a pathway to a second, making re-election a major factor in political alliances, appointments, spending, and, at times, the timing of reforms. Under Section 135 of the 1999 Constitution, …
Global crude oil prices have risen again as energy markets react to renewed uncertainty surrounding negotiations between the United States and Iran, putting hopes of reopening the Strait of Hormuz in limbo. Brent Crude, the international benchmark, rose to $85.02 per barrel, while West Texas Intermediate (WTI) hit $79.58 per barrel on Monday, August 10, …
President Bola Ahmed Tinubu has continually hammered on his administration ambition to achieve a benchmark of a trillion-dollar economy by the end of the decade. This lofty desire has prepped every agency of government to contribute its own quota to make this ambition a reality. Inside the Council Chamber of the newly renamed General Shehu …
Nigeria's top three cement producers—Dangote Cement, BUA Cement, and HBM Nigeria (formerly Lafarge Africa)—recorded a combined profit after tax (PAT) of approximately ₦1.16 trillion in the first half (H1) of 2026, marking a significant 40.36 per cent growth compared to the same period in 2025. This profit surge was driven by a combination of strong …
As the Federal Government moves to phase out electricity subsidies by 2027 and adopt fully cost-reflective tariffs, there are concerns about the potential impact on Nigerian consumers who are already grappling with rising cost of living. Recently, the Minister of Power, Joseph Tegbe, spoke at a media briefing in Lagos, where he announced that the …
Despite recording an increase in metering rate, over 5 million electricity customers remain unmetered across Nigeria. According to the latest metering status report released by the Nigerian Electricity Regulatory Commission (NERC), the total number of metered customers across all electricity distribution companies (DisCos) reached 7,435,733, accounting for 59.5% of 12,457,068 active customers as of April …
Nigeria’s foreign exchange market recorded a significant boost in July, as total forex inflows climbed to a five-month high of $4.36 billion, driven largely by aggressive Central Bank interventions and a remarkable surge in domestic participation. According to the latest data released by FMDQ, this represents a 31.9 per cent month-on-month increase from the $3.31 …
The National Insurance Commission (NAICOM) has announced the successful completion of the 12-month insurance sector recapitalisation exercise undertaken in line with the provisions of the Nigerian Insurance Industry Reform Act (NIIRA) 2025. In a statement released on Sunday, NAICOM said the successful completion of the recapitalisation exercise marks “a defining milestone in the transformation of Nigeria's insurance …
The Nigerian National Petroleum Company Limited (NNPC) sold a total of 136.93 million barrels of crude oil and condensates and generated ₦21.72 trillion in revenue in the first six months (H1) of 2026. These figures are based on analysis of the monthly crude oil and condensate sales and revenues recorded in NNPC’s monthly reports from …
