Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said Nigeria is nearing its target of attracting $1 billion in monthly remittance inflows, after inflows through International Money Transfer Operators (IMTOs) rose to a record $947 million in July 2026. The July figure represents the highest monthly remittance inflow ever recorded through formal channels…
President Bola Tinubu has approved a landmark reform that replaces project-by-project negotiations with a transparent investment framework designed to unlock up to $50 billion in deep offshore investment and restart Nigeria’s large, capital-intensive offshore developments that have remained stalled for decades. According to a statement issued yesterday by presidential spokesperson, Bayo Onanuga, the reform establishes…
Geregu Power Plc has missed a scheduled payment on its N40.09 billion bond obligations, heightening investor concerns over the financial position of the power Generation Company (Genco), less than a year after the change of leadership at the organisation. Specifically, the default, disclosed in an updated listing status by FMDQ Securities Exchange, occurred about eight…
The Nigerian Upstream Petroleum Regulatory Commission has released the Q2 2026 statistics on the enforcement of the Domestic Crude Supply Obligation in accordance with the provisions of the Petroleum Industry Act. NUPRC says a total of 53.7 million barrels of crude oil and condensate were supplied to local refiners between April and June, showing an…
World Trade Organisation Director-General Ngozi Okonjo-Iweala has detailed how a deliberatecommunication strategy helped Nigeria secure its landmark $30 billion Paris Club debt relief underformer President Olusegun Obasanjo.She shared the account on Wednesday, July 29, 2026, at the public presentation of the book The Painand the Promise by communications expert Paul Nwabuikwu in Abuja. Recalling her…
The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to launchinga single regional currency, known as the Eco, by 2027.This ambitious plan was discussed and endorsed during the 65th Ordinary Session of the ECOWASAuthority of Heads of State and Government, held in Abuja, Nigeria, on Saturday, July 18, 2026. The Eco is…
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…
