Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has announced a dramatic improvement in thecountry’s net foreign exchange reserves, which have risen from approximately $3 billion to $40 billionsince the beginning of the current administration. Cardoso made the disclosure on Thursday, July 16, 2026, while speaking at a high-level economicstakeholders’ forum in Abuja.He described the…
President Donald Trump has warned that the United States will impose a 50% tariff on Chinese goods ifBeijing provides military assistance or weapons to Iran.Trump made the threat on Sunday, April 12, 2026, during an interview on Fox News’ “Sunday MorningFutures with Maria Bartiromo.” He said: “If we catch them doing that, they get a…
The Nigerian Senate has intensified efforts to reform and revitalise the country’s agricultural collegesand research institutions by seeking technical support, technology transfer, and collaboration fromChina, India, and the European Union (EU).The initiative is being driven by the Senate Committee on Agricultural Colleges and Institutions, chairedby Senator Sharafadeen Abiodun Alli (APC, Oyo South). In recent weeks,…
The Nigerian Communications Commission (NCC) has directed Mobile Network Operators (MNOs) to compensate subscribers for service disruptions, marking a shift from traditional fines to direct consumer restitution. In a statement issued on Sunday by its Head of Public Affairs, Nnenna Ukoha, the commission said the directive targets operators whose network performance falls below established standards…
With petrol prices nearing N1,500 per litre amid Middle East tensions, labour unions, economists, manufacturers, and civil society groups have called for urgent government palliatives to ease the economic burden on families and businesses. They are demanding fuel subsidies, naira-denominated crude for the Dangote Refinery and public refineries, strategic petroleum reserves, expanded public transport, renewable…
President Bola Ahmed Tinubu has approved the establishment of a Presidential Petroleum Reform andValue Optimisation Task Force to design and coordinate the next phase of structural reforms in Nigeria’soil and gas sector. The presidency said the task force is a time-bound, high-level executive working group tasked withproducing actionable reform blueprints aimed at consolidating ongoing reforms,…
According to data from the National Bureau of Statistics, agriculture contributes roughly 25 percent to Nigeria’s Gross Domestic Product. Despite this, experts estimate that between 30 and 50 percent of perishable produce spoils after harvest. Fruits spoil in transit, and tomatoes deteriorate in open markets. Fish traders struggle to preserve their stock without a stable…
President Bola Ahmed Tinubu has nominated Lamido Abubakar Yuguda, former Director-General of theSecurities and Exchange Commission (SEC), as Deputy Governor of the Central Bank of Nigeria (CBN).The nomination is subject to confirmation by the Nigerian Senate. The presidency announced the development in a statement issued in Abuja on March 11, 2026, by thePresident’s Special Adviser…
Dangote Petroleum Refinery has reduced the ex-gantry price of Premium Motor Spirit (PMS), alsoknown as petrol, by ₦100 per litre following a recent drop in global crude oil prices.According to the refinery’s latest pricing template released on March 10, 2026, the gantry price of petrolwas lowered from ₦1,175 per litre to ₦1,075 per litre. The…
Nigeria’s largest privately owned refinery, the Dangote Petroleum Refinery, has reassured Nigerians that it will prioritise domestic supply to prevent fuel scarcity in the country despite the ongoing crisis in the Middle East and the resulting volatility in the global oil market. In a statement on Thursday, the refinery said it remains committed to serving…
