The Federal Government has announced a strategic plan to implement 30% of the 2025 capital budget by November 30, 2026, while rolling over the remaining 70% into the 2026 fiscal framework. This move, directed by President Bola Tinubu, aims to fast-track delayed project execution and resolve outstanding financial obligations that have accrued due to previous […]
The Association of Power Generation Companies (APGC) has raised a critical alarm over the state of the Nigerian Electricity Supply Industry (NESI), revealing that the total outstanding debt owed to Generation Companies (GenCos) has ballooned to over ₦6 trillion. This figure represents a staggering 50% increase from the ₦4 trillion debt baseline recorded at the […]
Governor Seyi Makinde of Oyo State has extended his felicitations to both the Muslim and Christian communities in the state as they embark on their respective fasting periods of Ramadan and Lent. In a statement released on Monday, February 16, 2026, the Governor noted the rare convergence of these two significant spiritual observances, describing it […]
Nigeria has solidified its position as a dominant force in the continent’s renewable energy landscape, ranking as Africa’s second-largest solar market in 2025. According to a recent industry report, this achievement marks a critical move toward closing the energy “liquidity gap” and serves as a vital indicator of the nation’s transition toward sustainable power to […]
The Financial Reporting Council (FRC) of Nigeria has established a firm April 1, 2026, deadline for the compulsory registration of all audit and assurance firms operating within the country. This regulatory directive is a critical move to enhance the verifiability of results and ensure that the “infrastructure of distribution” for financial data adheres to the […]
Nigerians are bracing for a significant increase in power outages this week as a major maintenance exercise on critical gas infrastructure has forced a shutdown of nearly 1,000 megawatts (MW) of generation capacity. This development, which effectively removes 19.67% of the nation’s current available power, represents a substantial disruption for an economy striving toward industrial […]
The Bank of Industry (BoI) has achieved a historic milestone in its mission to industrialize Nigeria, announcing a record-breaking total fund disbursement of ₦636 billion to businesses in 2025. This achievement, hailed by President Bola Tinubu on February 12, 2026, marks the highest annual financing volume in the bank’s history and serves as a critical […]
In a historic turning point for Africa’s industrial landscape, the Dangote Petroleum Refinery has officially reached its full nameplate capacity of 650,000 barrels per day (bpd). This milestone, announced on February 11, 2026, makes it the first refinery globally to achieve such a feat in a single-train facility of this scale. The achievement marks the […]
Nigeria has failed to meet its crude oil production quota for the sixth straight month, underscoring the deep-seated “logistics bottlenecks” and “asymmetric threats” that continue to plague the nation’s upstream sector. Despite the Federal Government’s ambitious push toward a $1 trillion GDP, the persistent inability to hit OPEC-mandated targets highlights a critical “liquidity gap” in […]
The Nigeria Revenue Service (NRS) has officially announced a bold revenue collection target of N40.71 trillion for the 2026 fiscal year. This target represents a significant increase from previous years and is designed to provide the necessary fiscal cushion to support Nigeria’s transition toward its ambitious $1 trillion GDP objective. This milestone projection is part […]
The Nigerian Senate has initiated a legislative push for the complete removal of electricity subsidies as a strategic measure to shore up the 2026 budget. This move is part of a broader fiscal recalibration aimed at eliminating “asymmetric threats” to the nation’s economy and redirecting scarce resources toward critical “infrastructure of distribution” and social welfare […]
The Nigerian Exchange (NGX) has witnessed a significant bullish surge in early trading as a strategic shift in pension fund allocations triggered a massive influx of capital. Market analysts are describing the movement as a “liquidity tsunami,” directly linked to new directives from the National Pension Commission (PenCom) that encourage Pension Fund Administrators (PFAs) to […]
Nigerian banks are bracing for tougher asset quality challenges in 2026 following the complete withdrawal of regulatory forbearance measures by the Central Bank of Nigeria (CBN) in mid-2025. A new report by S&P Global Ratings warns that lenders with heavy exposure to the oil and gas sector are already seeing sharp increases in impairment charges, […]
SAMUEL MOBOLAJI Nigeria is intensifying its push for measurable growth in crude oil production, urging international oil companies and indigenous operators to move beyond pledges and deliver tangible results as the country targets an ambitious output of 2.5 million barrels per day by 2027. The call comes against the backdrop of persistent underperformance, with average […]
BY ISAH ALIYU CHIROMA Nigeria’s economy is gradually gaining stability, with the leadership of the Central Bank of Nigeria (CBN) at the helm of well-coordinated decisions that are yielding positive results for the economy. It is apparent that the leadership of CBN is providing strategic positioning of the economy at a trajectory level, where the […]
One of the primary objectives of the Economic Recovery and Growth Plan (ERGP) launched by the federal government three years ago was aimed at diversifying the economy. With the price of oil in the global market always going up and down like a yo-yo, we do not need a prophet to tell us that the […]
The Minister of State for Science and Technology, Mohammed Abdullahi, has commended the National Office for Technology Acquisition and Promotion (NOTAP) for saving close to N280 billion for the nation through its mandate. Speaking when he paid a facility visit to the organisation on Tuesday, Abdullahi appealed to NOTAP to strive to do more, adding […]
.This reflects an increase of 0.17%, highest rates since 2017-Dipeolu .Without reforms, economic recovery would remain sluggish-Analysts Nigeria’s economic growth rose to an annual rate of 2.55 per cent in the three months to the end of December, its highest quarterly growth since a 2016 recession, latest the figure released by the National Bureau of […]
…Cautions FG over elections spending, insecurity, flooding …Retains MPR at 14 percent, CRR 22.5%, Liquidity Ratio at 30% The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has warned that the country may slip into recession again if the Federal Government did not take urgent steps to address the imminent danger, noting […]
Goodluck Jonathan, former Nigeria president, on Friday encouraged Nigerians not to give up on the country despite its present challenges. In an Easter message posted on his official Facebook page, Jonathan said he still expects Nigeria to overcome its challenges no matter what evil forces may do. “Easter is a time when we celebrate the […]