By ESTHER McWILLIS-IKHIDE Inside Nigeria’s Record Oil Exports to the US — and Why American Crude Is Quietly Powering Nigeria’s Own Refineries FOR the first eight months of 2025, Nigeria held a position no other African producer came close to matching: it was the single largest supplier of crude oil to the […]
By BUNMI BUSOLA NIGERIA’S logistics industry—valued at an estimated $60 billion—could become a major engine of national wealth, job creation, and industrial growth if properly regulated and supported, experts said at the CLMI International Conference and Investiture 2025 held in Lagos. Prof. Simon Emeje, Chairman of the Courier and Logistics Management Institute (CLMI), said […]
By FIDELUS ZWANSON ACROSS markets in Edo, Delta and Bayelsa states, the story of food prices in Nigeria has become a mix of relief, skepticism and caution. While staples like rice, beans, yam and vegetables have recorded noticeable price drops, many buyers and vendors remain divided on whether the trend is sustainable — or simply […]
By IKE UZOR-NZUBECHI ANAMBRA State Governor Charles Chukwuma Soludo on Tuesday presented a ₦757 billion proposed budget for the 2026 fiscal year, reflecting a 24.1% increase from 2025 and signaling a push for faster development and project delivery. Tagged “Changing Gears 3.0: Solution Continues,” the budget sets recurrent expenditure at ₦162.6 billion and […]
By TINA TOLUTOPE GOVERNOR Francis Nwifuru of Ebonyi State on Tuesday presented a ₦884.868 billion budget proposal for the 2026 fiscal year to the State House of Assembly, outlining plans to accelerate development across the state. Of the total budget, recurrent expenditure accounts for ₦135.376 billion (15.3%), while capital spending dominates with ₦749.492 billion (84.7%). […]
By OBIOMA TORI SIXTEEN commercial banks have now fully met the Central Bank of Nigeria’s (CBN) new ₦500 billion minimum capital requirement, Governor Olayemi Cardoso announced on Tuesday. Another 27 banks are still working to reach the threshold, with the CBN actively monitoring their progress. The update came after the 303rd Monetary Policy Committee (MPC) […]
By FIDELUS ZWANSON CENTRAL Bank of Nigeria (CBN) Governor Olayemi Cardoso is expected to outline key monetary and regulatory priorities when he addresses financial sector leaders at the 2025 Annual Bankers’ Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) on 28 November. The event, now in its 60th edition, is regarded as a […]
By ANDERSON (ANDY) CLIFF INTERNATIONAL Monetary Fund (IMF) Managing Director Kristalina Georgieva says the global economy is proving more resilient than expected, but still far too weak to meet the needs of many nations—especially poorer ones. Speaking at the G20 Leaders’ Summit in Johannesburg, she said the world had avoided some of the dire outcomes […]
By MELVIN KOFFA NIGERIA’S subnational governments are once again facing a crisis of credibility: despite receiving the highest revenue inflows in their history, states collectively owe contractors and retirees a staggering ₦1.06 trillion. BudgIT’s 2025 State of States report paints a troubling picture of fiscal indiscipline, misplaced priorities, and deepening structural weaknesses across the federation. […]
By ESTHER McWILLIS-IKHIDE A fresh audit of the Nigerian National Petroleum Company Limited (NNPCL) has exposed a sprawling web of financial irregularities running into more than ₦61 billion, raising new questions about transparency and accountability at Africa’s largest state-run oil company. The findings, contained in the 2022 Annual Report on Non-Compliance by the Office of […]