- Economy
Oando JV announces gas agreement to power Bayelsa’s 60mw independent power supply
Oando Plc has announced that its upstream Joint Venture (JV) with NNPC E&P Limited (NEPL), the NEPL/Oando JV, has enabled the delivery of a 60-megawatt (MW) Independent Power Plant (IPP) in Yenagoa, Bayelsa State. The project, commissioned by President Bola Ahmed Tinubu, April 10, 2026, forms part of the State’s broader infrastructure development programme. The NEPL/Oando JV is the sole gas…
Read More » - Economy
Nigeria has no plans to seek IMF loans, says Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said the country has no plans to approach the International Monetary Fund for loans, despite growing fiscal pressures. Edun made this known on Thursday during a minister’s press briefing at the ongoing IMF-World Bank Spring Meetings in Washington DC. His comments come amid broader concerns about rising…
Read More » - Economy
Nigeria strengthens push to host AU Monetary Institute
Nigeria has intensified its bid to host the African Union’s African Monetary Institute (AMI), with the Federal Ministry of Finance leading coordinated efforts to secure the institution ahead of its planned 2026 operationalisation. Head Information and Public Relations Unit, federal ministry of finance, Efe Ovuakporie in a statement obtained by WESTERNPOST on Friday stated that the renewed push was articulated…
Read More » - Homeland News
Odu’a signs strategic partnership with Elektron to develop 50mw in Lagos
Odu’a Investment Company Limited has entered into a strategic partnership with Elektron Energy Development Strategies Limited to develop a 50-megawatt (MW) gas-fired Independent Power Plant (IPP) within the Ogba Industrial Estate in Ikeja, Lagos. The project, sited at the former Cocoa Industries Limited (CIL) complex, is designed to deliver dedicated and reliable electricity directly to industrial and commercial users in…
Read More » - Perspectives
Seyi Makinde: A governor battling for survival, by Kola Amzat
Obviously, all is not well with Oyo state governor-Seyi Makinde and he’s fully aware. The governor is like a fish completely out of the ocean. There is no doubt that he’s swimming against the tide. Perhaps, if the hands of the clock could be rewound, the governor would have wished he never sought for second term in office, for his…
Read More » - Economy
MTN Nigeria halts data, airtime borrowing service over FCCPC lending rules
MTN Nigeria has announced the temporary suspension of its airtime and data advance service, Xtratime, following new regulatory requirements introduced by the Federal Competition and Consumer Protection Commission (FCCPC). The telecom giant disclosed the development in a filing to the Nigerian Exchange Limited on Thursday, stating that the move is necessary to comply with the FCCPC’s Digital, Electronic, Online or…
Read More » - Economy
IMF urges oil exporting countries to build fiscal buffers amid Middle East war
The International Monetary Fund (IMF) has advised oil exporting countries to use funds accruing from oil prices rally due to United States-Israel-Iran conflict to build fiscal buffers to protect their economies. The Fund explained that with debt already elevated in many countries, fiscal policy must respond cautiously, providing support where needed without pushing public finances closer to the brink.. Speaking…
Read More » - Economy
Nigeria’s public debt rises to N159.28trn in 2025, says DMO
Nigeria’s total public debt increased to N159.28 trillion as of December 31, 2025, according to the latest data released by the Debt Management Office (DMO) on Tuesday, reflecting a steady rise driven largely by domestic borrowing. The figures show that total public debt rose from N153.29 trillion recorded at the end of September 2025 to N159.28 trillion in December 2025,…
Read More » - Economy
Nigeria’s inflation jumps to 15.38% in March 2026, says NBS
The National Bureau of Statistics (NBS) on Wednesday disclosed that Nigeria’s headline inflation rate rose to 15.38per cent in March 2026, reflecting a modest increase from the 15.06per cent recorded in February 2026. According NBS report, the inflation in its month-on-month basis, consumer prices rose at a faster pace by 4.18 per cent (February: 2.01per cent m/m). Breaking it down,…
Read More » - Economy
NDIC commences process to conclude liquidation of 89 MFBs, PMB
The Nigeria Deposit Insurance Corporation (NDIC) on Wednesday said it has commenced the process of concluding the liquidation activities of 89 closed Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) following their successful acquisition by new owners under the Purchase and Assumption (P&A) resolution model executed by the Corporation. Head, Communication & Public Affairs, NDIC, Hawwau Gambo in a statement…
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