Economy
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FEC approves $2.99bn rail projects, sets up power reform taskforce
The Federal Executive Council (FEC) on Thursday approved contracts worth $2.99 billion for three major rail projects in Lagos, Kano, and Kaduna states, in a move aimed at strengthening infrastructure and driving economic growth. Speaking after the Council meeting at the State House in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the projects…
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Strengthen your systems against fraudsters, Olukoyede warns fintech firms
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called on financial technology companies across Nigeria to strengthen their systems against fraudsters exploiting digital financial platforms. Olukoyede made the call on Thursday in Abuja while addressing chief executive officers of fintech firms at an industry engagement meeting held at the EFCC headquarters. He commended the…
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JUST IN: Tinubu nominates Joseph Olasunkanmi Tegbe as minister of power
President Bola Tinubu has nominated Joseph Olasunkanmi Tegbe as the new Minister of Power, pending confirmation by the Senate. The nomination, which has been formally transmitted to lawmakers, follows the resignation of Adebayo Adelabu, who stepped down to pursue elective office. Tegbe, an indigene of Oyo State, brings more than three decades of experience in fiscal policy, governance, and economic…
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NNPC announces successful River Niger crossing on OB3 gas project
The Nigerian National Petroleum Company (NNPC) Limited has announced the successful completion of the River Niger crossing on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline. The project, executed by the NNPC Gas Infrastructure Company (NGIC), a subsidiary of NNPC Limited, is part of a 130-kilometre pipeline designed to transport up to 2 billion standard cubic feet of gas per day. According to…
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JUST IN: Tinubu replaces NMDPRA boss, nominates Rabiu Umar as successor
President Bola Tinubu has approved the removal of Saidu Mohammed as Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in a major leadership shake-up of the country’s petroleum regulatory sector. According to a statement issued on Wednesday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Tinubu has nominated Rabiu Abdullahi…
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Alake calls for African unity to unlock greater value from mineral wealth
The Minister of Solid Minerals Development, Oladele Alake, has called for stronger regional cooperation among African countries to enhance the continent’s position in global mineral supply chains. Alake, who also chairs the Africa Minerals Strategy Group, made the call at the Kenya Mining Investment Conference and Exhibition 2026, noting that Africa is central to a new industrial era driven by…
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Equities market rebounds, advances by N3.2trn
The equities market section of the Nigerian Exchange Limited (NGX) rebounded strongly on Tuesday, as the overall capitalization advanced by N3.2 trillion to cross above N147 trillion, reversing the previous session’s losses and restoring bullish sentiment. The All-Share Index rose by 4,977.51 basis points or 2.23 per cent, to close at 228,579.80 basis points. Similarly, the overall market capitalisation value…
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Data, airtime credit dispute threatens N400bn market, says ALTON
The Association of Licensed Telecoms Operators of Nigeria (ALTON) has called for the urgent resolution of the regulatory dispute affecting Nigeria’s airtime credit market, warning that the ongoing disruption, despite existing court orders, poses risks to consumer welfare, investor confidence, and regulatory stability in the telecoms sector. This was made known by the association’s Chairman, Gbenga Adebayo, noting that the…
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Petrol price rises to N1,288 per litre in March 2026, says NBS
The National Bureau of Statistics (NBS) has revealed that petrol and diesel prices surged to N1,288.54 per litre and N1,648.08 per litre in March 2026, respectively to reflect inflationary pressure on transport fuels. NBS in its latest Premium Motor Spirit and Diesel Price Watch reports stated that the average price of petrol rose significantly on a monthly basis, while diesel…
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NCN adopts 10-year food and nutrition policy, seeks FEC approval
The National Council on Nutrition (NCN) has adopted the National Policy on Food and Nutrition (NPFN) 2026–2035 and directed the Federal Ministry of Budget and Economic Planning to forward it to the Federal Executive Council (FEC) for ratification. The decision was taken at the council’s 15th meeting held virtually and chaired by Vice President Kashim Shettima, following a stakeholder-driven review…
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