The National Automotive Design and Development Council (NADDC) has called on the Federal Government to implement a comprehensive ban on the importation of vehicle tyres and batteries. This strategic recommendation is aimed at retaining approximately N1 trillion within the local economy—a sum currently lost to “capital flight” through the massive importation of automotive components. According […]
Nigeria’s Southeast region has emerged as the nation’s primary economic frontrunner for 2026, leading with a projected growth rate of 8.0%. This regional surge was a centerpiece of the forum, where industry leaders gathered to analyze the “Price Sensitivity Survey 2025,” presented by Professor Uchenna Uzo of the Lagos Business School (LBS), Pan-Atlantic University. The […]
Saudi Arabia is entering a new phase of its ambitious “Vision 2030” economic transformation as the Kingdom begins to quietly relax its long-standing prohibition on alcohol. This strategic adjustment, which includes the opening of the first specialized liquor store in Riyadh specifically for non-Muslim diplomats, signals a significant test of the limits of social reform. […]
Sterling Financial Holdings Company Plc has reported a significant 81 percent increase in its after-tax profit for the 2025 financial year, driven by a sharp expansion in interest and non-interest income. In its audited financial statement released on February 6, 2026, the holding company demonstrated a strong growth trajectory, benefiting from the high interest rate […]
Primary school teachers in the Federal Capital Territory (FCT) have intensified their call for the immediate settlement of long-standing salary arrears and allowances, citing severe economic hardship. On February 5, 2026, the Nigeria Union of Teachers (NUT), FCT Wing, reiterated that the ongoing industrial action in the nation’s capital remains a direct consequence of the […]
Transcorp Power Plc has announced a 30 percent growth in annual revenue, driven by a strategic increase in its available generation capacity to 550 megawatts (MW). The company’s 2025 financial performance, released in early February 2026, highlights a period of significant operational scaling at its Ughelli power plant, which remains a critical asset in Nigeria’s […]
Nigerian loss adjusters have secured a long-awaited upward review of their professional fee structure, ending a 33-year period of stagnant rates that had significantly hampered the sub-sector’s operational efficiency. The adjustment, finalized in early 2026 following extensive negotiations between the Institute of Loss Adjusters of Nigeria (ILAN) and the Nigerian Insurers Association (NIA), marks a […]
The formal withdrawal of the United States from the World Health Organization (WHO) has created a significant funding gap in Nigeria’s public health sector, forcing a critical reassessment of the national health budget. As the WHO’s largest financial contributor, the United States provided the primary resource base for global initiatives targeting infectious diseases, maternal health, […]
The Nigerian telecommunications landscape is undergoing a fundamental transformation as the era of rapid subscriber acquisition reaches a plateau, forcing major operators to pivot their focus toward data consumption and digital services. Following years of double-digit growth in active mobile subscriptions, recent data indicates a leveling off, with the market reaching a maturity stage where […]
Nigeria’s power sector continues to struggle with chronic instability, as a recent 2026 sectoral audit reveals that 58 percent of publicly funded dam projects intended for power generation remain stalled or abandoned. Despite the disbursement of hundreds of millions of Naira, these projects have failed to transition from budgetary allocations to operational assets, leaving the […]
The Vice Chairman of Tantita Security Services Limited, the firm spearheaded by Government Ekpemupolo (popularly known as Tompolo), has engaged a high-profile United States lobbying firm to strengthen diplomatic and strategic relations between Nigeria and the U.S. The contract, valued at $720,000, was formalized in early February 2026. This move is intended to facilitate higher-level […]
Super Eagles goalkeeper Stanley Nwabali has officially left South African Premier Soccer League (PSL) club Chippa United to explore new professional opportunities in the global transfer market. The announcement, confirmed on February 5, 2026, follows a period of significant appreciation in Nwabali’s market value, largely driven by his standout performances for the Nigerian national team. […]
African airlines recorded a 7.8 percent increase in annual passenger traffic in 2025, according to the full-year report released by the International Air Transport Association (IATA) on February 5, 2026. This growth, fueled by rising connectivity and an expanding middle class, pushed the region’s load factor a measure of seat occupancy—to a record high of […]
Governor AbdulRahman AbdulRazaq of Kwara State has clarified that the recent mass killings in the state’s rural communities were the result of Islamist extremist activity rather than conventional banditry or kidnapping. Following a security briefing on February 5, 2026, the Governor noted that the nature of the attacks—characterized by a lack of ransom demands and […]
The Minister of Defence, General Christopher Musa (rtd), has clarified that the United States military personnel recently deployed to Nigeria are not combat forces but a small advisory team focused on intelligence support and training. Speaking on February 5, 2026, the Minister addressed public concerns regarding national sovereignty following an announcement by the United States […]
Bitcoin has retreated below the psychological threshold of $70,000, marking a significant downturn in the global cryptocurrency market as digital asset prices experience a broad-based decline. The slide, which accelerated during early trading on February 5, 2026, has seen the world’s largest cryptocurrency lose approximately 5% of its value within a 24-hour window. This correction […]
The Nigerian Senate has issued a formal clarification regarding its position on the electronic transmission of election results, stating that the upper chamber has not rejected the technology but is ensuring its implementation aligns with national infrastructure realities. Speaking on February 5, 2026, Senate spokespersons emphasized that the legislative intent is to provide a robust […]
MTN Group, Africa’s largest telecommunications provider, is in advanced discussions to acquire the remaining 75 percent stake in IHS Towers, a move that would consolidate its control over critical passive infrastructure across its operational footprint. The potential transaction, disclosed on February 5, 2026, follows years of complex shareholder dynamics and serves as a strategic pivot […]
Investor demand for Nigerian Treasury Bills (T-bills) reached a historic peak on February 4, 2026, with total subscriptions skyrocketing to N4.59 trillion during the latest primary market auction conducted by the Central Bank of Nigeria (CBN). This surge in demand represents a significant oversubscription of the N409.9 billion initially offered by the apex bank across […]
The United States government has deployed a specialized military team to Nigeria to assist the federal government in addressing the persistent security challenges affecting various regions of the country. This deployment, confirmed on February 4, 2026, follows high-level bilateral discussions between the U.S. Department of Defense and Nigeria’s Ministry of Defence aimed at strengthening tactical […]