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World Bank |
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World Bank |
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World Bank |
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World Bank |
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Prince SJ Samuel |
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Prince SJ Samuel |
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Mr. Viyon Awhanse |
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Mr. Viyon Awhanse |
By: Manoah Kikekon
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Samson Nunayon Apata |
In a strategic move to strengthen Nigeria’s tourism sector, Hon. Apata Samson Nunayon, the National Vice-President (South West) of the Association of Tourism Practitioners of Nigeria (ATPN), recently visited Ogun State ahead of the official activation of its ATPN State Chapter.
The visit was a crucial step in finalizing preparations for the new chapter’s launch. Hon. Nunayon met with key tourism stakeholders, assessed the chapter’s operational readiness, and laid the groundwork for a seamless activation process.
The establishment of an ATPN Ogun State Chapter signals a major push to:
Enhance local tourism development
Foster industry collaboration
Boost economic opportunities for practitioners
With the groundwork now in place, stakeholders eagerly await further updates on the official launch date and activation plans.
The ATPN leadership is expected to announce the official launch timeline soon, marking a new era for tourism growth in Ogun State.
Stay tuned for more updates!
By: Manoah Kikekon
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Samson Nunayon Apata |
In a strategic move to strengthen Nigeria’s tourism sector, Hon. Apata Samson Nunayon, the National Vice-President (South West) of the Association of Tourism Practitioners of Nigeria (ATPN), recently visited Ogun State ahead of the official activation of its ATPN State Chapter.
The visit was a crucial step in finalizing preparations for the new chapter’s launch. Hon. Nunayon met with key tourism stakeholders, assessed the chapter’s operational readiness, and laid the groundwork for a seamless activation process.
The establishment of an ATPN Ogun State Chapter signals a major push to:
Enhance local tourism development
Foster industry collaboration
Boost economic opportunities for practitioners
With the groundwork now in place, stakeholders eagerly await further updates on the official launch date and activation plans.
The ATPN leadership is expected to announce the official launch timeline soon, marking a new era for tourism growth in Ogun State.
Stay tuned for more updates!
By: Manoah Kikekon
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Photo used to illustrate the story |
Fresh data from the National Bureau of Statistics (NBS) reveals that Nigeria’s inflation rate surged to 24.23% in March 2025, marking a sharp increase from February’s 23.18%.
The latest report highlights growing economic pressures as food prices and essential living expenses continue to climb.
According to the NBS, the headline inflation rate jumped by 1.05% compared to February 2025. On a month-on-month basis, inflation rose to 3.90%—a staggering 1.85% increase from February’s 2.04%, indicating a faster rise in average prices.
Urban areas saw inflation hit 26.12% year-on-year, with a monthly increase of 3.96%—up by 1.56% from February.
Rural inflation reached 20.89% year-on-year, with a monthly surge of 3.73%, reflecting a sharp 2.57% rise from the previous month.
This alarming inflation surge deepens the financial strain on citizens, with many grappling with soaring food prices, transportation, and housing costs. The relentless price hikes have intensified calls for government intervention as households struggle to make ends meet.
Will policymakers step in to curb this economic crisis? For now, Nigerians brace for tougher times as inflation shows no signs of slowing down.
By: Manoah Kikekon
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Photo used to illustrate the story |
Fresh data from the National Bureau of Statistics (NBS) reveals that Nigeria’s inflation rate surged to 24.23% in March 2025, marking a sharp increase from February’s 23.18%.
The latest report highlights growing economic pressures as food prices and essential living expenses continue to climb.
According to the NBS, the headline inflation rate jumped by 1.05% compared to February 2025. On a month-on-month basis, inflation rose to 3.90%—a staggering 1.85% increase from February’s 2.04%, indicating a faster rise in average prices.
Urban areas saw inflation hit 26.12% year-on-year, with a monthly increase of 3.96%—up by 1.56% from February.
Rural inflation reached 20.89% year-on-year, with a monthly surge of 3.73%, reflecting a sharp 2.57% rise from the previous month.
This alarming inflation surge deepens the financial strain on citizens, with many grappling with soaring food prices, transportation, and housing costs. The relentless price hikes have intensified calls for government intervention as households struggle to make ends meet.
Will policymakers step in to curb this economic crisis? For now, Nigerians brace for tougher times as inflation shows no signs of slowing down.
By: Manoah Kikekon
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Farmers used to illustrate the story. [Photo Credit: Business Day] |
The Federal Government has committed to ensuring full inclusion of women and youth in agriculture, a move set to strengthen food security and drive economic growth.
Omolara Svensson, Special Assistant to the Junior Agric Minister, emphasized that this initiative is crucial for sustainable food production and reducing societal challenges. She spoke during the handover ceremony of new executive officers for the Nigerian Women for Agricultural Progressive and Development Initiative (NWAPDI) in Abuja on Tuesday.
Svensson, former National Coordinator of NWAPDI, described agriculture as “Africa’s next oil well” and highlighted the pivotal role of women and youth in the nation’s food systems.
“The government already has a blueprint for agriculture this year. While engaging real farmers, I will ensure women and youth benefit from 100% inclusivity in agricultural programmes,” she stated. “I’ll introduce innovative ideas aligned with the administration’s goals to boost food security. Working with the Minister of State, an agri-economist, makes this mission even more achievable.”
Lucy Pam, NWAPDI Deputy Coordinator, praised Svensson’s dedication to securing fair opportunities for women and youth, preventing resource diversion.
Similarly, Anyamus Magit, NWAPDI Coordinator in Plateau, noted that 80% of Nigeria’s population engages in farming, with women and youth making up 70% of this workforce.
(NAN)
By: Manoah Kikekon
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Farmers used to illustrate the story. [Photo Credit: Business Day] |
The Federal Government has committed to ensuring full inclusion of women and youth in agriculture, a move set to strengthen food security and drive economic growth.
Omolara Svensson, Special Assistant to the Junior Agric Minister, emphasized that this initiative is crucial for sustainable food production and reducing societal challenges. She spoke during the handover ceremony of new executive officers for the Nigerian Women for Agricultural Progressive and Development Initiative (NWAPDI) in Abuja on Tuesday.
Svensson, former National Coordinator of NWAPDI, described agriculture as “Africa’s next oil well” and highlighted the pivotal role of women and youth in the nation’s food systems.
“The government already has a blueprint for agriculture this year. While engaging real farmers, I will ensure women and youth benefit from 100% inclusivity in agricultural programmes,” she stated. “I’ll introduce innovative ideas aligned with the administration’s goals to boost food security. Working with the Minister of State, an agri-economist, makes this mission even more achievable.”
Lucy Pam, NWAPDI Deputy Coordinator, praised Svensson’s dedication to securing fair opportunities for women and youth, preventing resource diversion.
Similarly, Anyamus Magit, NWAPDI Coordinator in Plateau, noted that 80% of Nigeria’s population engages in farming, with women and youth making up 70% of this workforce.
(NAN)
By: Manoah kikekon
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Oando |
Nigeria’s gas exports have taken a hit after three deliberate attacks on a critical pipeline in Bayelsa State, disrupting supply to the Nigeria Liquefied Natural Gas (NLNG) export terminal in Bonny, Rivers State.
The Ogboinbiri-Obiobi 24-inch Gas Pipelin, located between Angiama and Angiamagbene in Southern Ijaw LGA, was sabotaged in three different spots on April 3.
Oando Plc, the operator of the pipeline, confirmed the shutdown on Friday to prevent further environmental damage and allow for a thorough investigation.
In a statement by Idongesit Edet, Oando’s Assistant Manager for Public Relations and Internal Communications, the company said: “Oando PLC confirms three separate attacks on its pipelines over the past week. Following standard protocols, we activated emergency response plans and began containment efforts to reduce environmental impact. Our repair teams were swiftly deployed, and we are collaborating with authorities to conduct a Joint Investigation Visit (JIV).”
A JIV is a mandatory assessment involving regulators, operators, and host communities to determine the cause, volume, and affected areas of an oil or gas leak.
Oando added that the investigation will help identify the root cause of the sabotage and guide the implementation of long-term solutions.
The company assured: “After the JIV, Oando will begin full-scale repairs to restore operations swiftly, prioritizing safety, environmental protection, and community welfare. Further updates will be provided as developments unfold.”
(NAN)
By: Manoah kikekon
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Oando |
Nigeria’s gas exports have taken a hit after three deliberate attacks on a critical pipeline in Bayelsa State, disrupting supply to the Nigeria Liquefied Natural Gas (NLNG) export terminal in Bonny, Rivers State.
The Ogboinbiri-Obiobi 24-inch Gas Pipelin, located between Angiama and Angiamagbene in Southern Ijaw LGA, was sabotaged in three different spots on April 3.
Oando Plc, the operator of the pipeline, confirmed the shutdown on Friday to prevent further environmental damage and allow for a thorough investigation.
In a statement by Idongesit Edet, Oando’s Assistant Manager for Public Relations and Internal Communications, the company said: “Oando PLC confirms three separate attacks on its pipelines over the past week. Following standard protocols, we activated emergency response plans and began containment efforts to reduce environmental impact. Our repair teams were swiftly deployed, and we are collaborating with authorities to conduct a Joint Investigation Visit (JIV).”
A JIV is a mandatory assessment involving regulators, operators, and host communities to determine the cause, volume, and affected areas of an oil or gas leak.
Oando added that the investigation will help identify the root cause of the sabotage and guide the implementation of long-term solutions.
The company assured: “After the JIV, Oando will begin full-scale repairs to restore operations swiftly, prioritizing safety, environmental protection, and community welfare. Further updates will be provided as developments unfold.”
(NAN)
By: Manoah Kikekon
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Shipping containers at the Yantian International Container Terminals in Shenzhen, China, on April 7, 2025.Photographer: Qilai Shen/Bloomberg |
In a sharp retaliation against the Trump administration, China has imposed staggering 125% tariffs on American imports, intensifying the ongoing trade war between the world’s two largest economies.
The move comes just a day after the U.S. hiked tariffs on Chinese goods from 10% to 25%, further straining already tense economic relations.
China’s State Council announced the drastic measure on Friday, condemning Washington’s latest tariff hike as a violation of global trade rules and an act of economic bullying. The Chinese Finance Ministry slammed the U.S. decision, calling it "unreasonable, against market principles, and devoid of common sense."
In a defiant statement, Beijing declared it will no longer engage in tit-for-tat tariff responses if the U.S. imposes further hikes. "At the current tariff levels, U.S. goods have no competitive market in China," the ministry stated, signaling a hardened stance in the escalating trade battle.
As tensions reach a boiling point, businesses and investors brace for more economic fallout, with no clear resolution in sight. Will this trade war spiral further, or will negotiations prevail? Stay tuned as the U.S.-China trade conflict takes another dramatic turn.
By: Manoah Kikekon
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Shipping containers at the Yantian International Container Terminals in Shenzhen, China, on April 7, 2025.Photographer: Qilai Shen/Bloomberg |
In a sharp retaliation against the Trump administration, China has imposed staggering 125% tariffs on American imports, intensifying the ongoing trade war between the world’s two largest economies.
The move comes just a day after the U.S. hiked tariffs on Chinese goods from 10% to 25%, further straining already tense economic relations.
China’s State Council announced the drastic measure on Friday, condemning Washington’s latest tariff hike as a violation of global trade rules and an act of economic bullying. The Chinese Finance Ministry slammed the U.S. decision, calling it "unreasonable, against market principles, and devoid of common sense."
In a defiant statement, Beijing declared it will no longer engage in tit-for-tat tariff responses if the U.S. imposes further hikes. "At the current tariff levels, U.S. goods have no competitive market in China," the ministry stated, signaling a hardened stance in the escalating trade battle.
As tensions reach a boiling point, businesses and investors brace for more economic fallout, with no clear resolution in sight. Will this trade war spiral further, or will negotiations prevail? Stay tuned as the U.S.-China trade conflict takes another dramatic turn.
By: Manoah kikekon
Crown Princess of Sweden Visits Lagos, Eyes Strategic Partnerships for Mutual Growth
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Governor Babaji Sanwo-olu |
The Lagos State Government has pledged to deepen its bilateral cooperation with Sweden in key sectors, including information technology, cybersecurity, and infrastructure development, to drive progress in the state.
Governor Babajide Sanwo-Olu made the commitment during a courtesy visit by the Crown Princess of Sweden, Her Royal Highness Princess Victoria, Duchess of Västergötland, and her delegation at Lagos House, Marina, on Tuesday. Represented by Deputy Governor Obafemi Hamzat, the governor emphasized the potential for expanded collaboration between Swedish investors and Lagos' thriving business community.
"Welcome to Lagos, the state of aquatic splendor. We hope you experience the rich heritage of our vibrant city," Sanwo-Olu said.
"This engagement with the Lagos business community will unlock new opportunities for partnership, ensuring mutual benefits for both parties."
Princess Victoria praised Lagos for its pivotal role as Nigeria’s economic hub, acknowledging its vast business potential.
Meanwhile, Sweden’s Minister of Infrastructure and Housing, Andreas Carlsson, highlighted the visit’s objective to establish strategic alliances and finalize key agreements.
The meeting signals a promising step toward enhanced international cooperation, positioning Lagos for greater technological and infrastructural advancements.
(NAN)
By: Manoah kikekon
Crown Princess of Sweden Visits Lagos, Eyes Strategic Partnerships for Mutual Growth
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Governor Babaji Sanwo-olu |
The Lagos State Government has pledged to deepen its bilateral cooperation with Sweden in key sectors, including information technology, cybersecurity, and infrastructure development, to drive progress in the state.
Governor Babajide Sanwo-Olu made the commitment during a courtesy visit by the Crown Princess of Sweden, Her Royal Highness Princess Victoria, Duchess of Västergötland, and her delegation at Lagos House, Marina, on Tuesday. Represented by Deputy Governor Obafemi Hamzat, the governor emphasized the potential for expanded collaboration between Swedish investors and Lagos' thriving business community.
"Welcome to Lagos, the state of aquatic splendor. We hope you experience the rich heritage of our vibrant city," Sanwo-Olu said.
"This engagement with the Lagos business community will unlock new opportunities for partnership, ensuring mutual benefits for both parties."
Princess Victoria praised Lagos for its pivotal role as Nigeria’s economic hub, acknowledging its vast business potential.
Meanwhile, Sweden’s Minister of Infrastructure and Housing, Andreas Carlsson, highlighted the visit’s objective to establish strategic alliances and finalize key agreements.
The meeting signals a promising step toward enhanced international cooperation, positioning Lagos for greater technological and infrastructural advancements.
(NAN)
By: Manoah kikekon
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Hon. Sesi Whingan and Dr. Ben Oramalugo |
During an oversight visit by the House Committee on Customs, Hon. Sesi Oluwaseun Whingan, the lawmaker representing Badagry Federal Constituency, strongly condemned the excessive security checkpoints along the Lagos-Badagry Expressway, accusing officials of stifling tourism in the historic town.
The visit, led by Committee Chairman Hon. Leke Abejide, was part of a broader inspection of Customs formations across six Southwestern states. Whingan specifically called out the Nigeria Customs Service, Police, and other agencies for subjecting motorists—especially tourists—to constant harassment at multiple checkpoints.
"Tourists visit Badagry to relax and explore, not to endure harassment at illegal checkpoints," Whingan fumed. "Some have had their vehicles impounded after years of use. Such traumatic experiences deter people from returning or recommending Badagry as a destination."
He also criticized Customs for confiscating food items from local traders, calling it cruel amid Nigeria’s worsening inflation and food insecurity. "Seizing food from struggling traders only deepens hardship. This must stop," he insisted.
In response, Seme Customs Comptroller Dr. Benedict Oramalugo admitted efforts to reduce checkpoints but shifted blame to the Police, alleging indiscriminate roadblocks. "We’ve scaled back, but the Police continue mounting unnecessary checkpoints. The Committee should address this with the IGP," he said.
The heated exchange highlights growing frustration over how excessive security presence is harming Badagry’s economy and tourism sector. The House Committee’s ongoing tour aims to enforce accountability and improve service delivery across Customs commands in Lagos, Ogun, Oyo, Osun, Ondo, and Ekiti States.
Whingan’s bold stance reaffirms his commitment to protecting Badagry’s residents and visitors while pushing for the town’s development.
By: Manoah kikekon
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Hon. Sesi Whingan and Dr. Ben Oramalugo |
During an oversight visit by the House Committee on Customs, Hon. Sesi Oluwaseun Whingan, the lawmaker representing Badagry Federal Constituency, strongly condemned the excessive security checkpoints along the Lagos-Badagry Expressway, accusing officials of stifling tourism in the historic town.
The visit, led by Committee Chairman Hon. Leke Abejide, was part of a broader inspection of Customs formations across six Southwestern states. Whingan specifically called out the Nigeria Customs Service, Police, and other agencies for subjecting motorists—especially tourists—to constant harassment at multiple checkpoints.
"Tourists visit Badagry to relax and explore, not to endure harassment at illegal checkpoints," Whingan fumed. "Some have had their vehicles impounded after years of use. Such traumatic experiences deter people from returning or recommending Badagry as a destination."
He also criticized Customs for confiscating food items from local traders, calling it cruel amid Nigeria’s worsening inflation and food insecurity. "Seizing food from struggling traders only deepens hardship. This must stop," he insisted.
In response, Seme Customs Comptroller Dr. Benedict Oramalugo admitted efforts to reduce checkpoints but shifted blame to the Police, alleging indiscriminate roadblocks. "We’ve scaled back, but the Police continue mounting unnecessary checkpoints. The Committee should address this with the IGP," he said.
The heated exchange highlights growing frustration over how excessive security presence is harming Badagry’s economy and tourism sector. The House Committee’s ongoing tour aims to enforce accountability and improve service delivery across Customs commands in Lagos, Ogun, Oyo, Osun, Ondo, and Ekiti States.
Whingan’s bold stance reaffirms his commitment to protecting Badagry’s residents and visitors while pushing for the town’s development.
By: Manoah kikekon
The Nigerian government has reaffirmed its commitment to eliminating language barriers between Nigeria and the Benin Republic to strengthen diplomatic relations and enhance cross-border trade.
This announcement was made in a statement by Kauthar Gwarzo, Principal Information and Public Relations Officer of the Nigerian Technical Aid Corps (NTAC), following a high-level meeting in Cotonou.
During a visit to Benin Republic’s Minister of Higher Education and Scientific Research, Eleonore Ladekan, NTAC Director-General Yusuf Yakub emphasized the importance of overcoming communication hurdles to foster deeper bilateral cooperation.
Yakub highlighted that the NTAC initiative promotes South-South collaboration, particularly among African, Caribbean, and Pacific (ACP) nations, by facilitating trade and development.
“Nigeria is dedicated to closer cooperation with Benin Republic in language learning and exchange,” Yakub stated. “Removing language barriers will enhance diplomatic efforts, boost trade, and create better economic opportunities for both nations.”
As part of the initiative, Nigeria plans to send English language teachers to Benin while also encouraging French language acquisition among Nigerians.
“This exchange will bridge the linguistic gap, paving the way for stronger trade, cultural exchange, and service partnerships,” Yakub explained.
Minister Ladekan thanked President Bola Tinubu for Nigeria’s continued support to ACP countries through NTAC. She also praised the success of the Nigerian International School in Cotonou and expressed Benin’s eagerness to expand collaboration with Nigeria for mutual growth.
The meeting included key officials from both nations, reinforcing the commitment to a stronger, more connected West Africa.
(NAN)
By: Manoah kikekon
The Nigerian government has reaffirmed its commitment to eliminating language barriers between Nigeria and the Benin Republic to strengthen diplomatic relations and enhance cross-border trade.
This announcement was made in a statement by Kauthar Gwarzo, Principal Information and Public Relations Officer of the Nigerian Technical Aid Corps (NTAC), following a high-level meeting in Cotonou.
During a visit to Benin Republic’s Minister of Higher Education and Scientific Research, Eleonore Ladekan, NTAC Director-General Yusuf Yakub emphasized the importance of overcoming communication hurdles to foster deeper bilateral cooperation.
Yakub highlighted that the NTAC initiative promotes South-South collaboration, particularly among African, Caribbean, and Pacific (ACP) nations, by facilitating trade and development.
“Nigeria is dedicated to closer cooperation with Benin Republic in language learning and exchange,” Yakub stated. “Removing language barriers will enhance diplomatic efforts, boost trade, and create better economic opportunities for both nations.”
As part of the initiative, Nigeria plans to send English language teachers to Benin while also encouraging French language acquisition among Nigerians.
“This exchange will bridge the linguistic gap, paving the way for stronger trade, cultural exchange, and service partnerships,” Yakub explained.
Minister Ladekan thanked President Bola Tinubu for Nigeria’s continued support to ACP countries through NTAC. She also praised the success of the Nigerian International School in Cotonou and expressed Benin’s eagerness to expand collaboration with Nigeria for mutual growth.
The meeting included key officials from both nations, reinforcing the commitment to a stronger, more connected West Africa.
(NAN)
By: Manoah kikekon
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Donald Trump and Bola Tinubu |
In a dramatic shift in U.S. trade policy, former President Donald Trump has announced a 10% baseline tariff on all imports, with additional country-specific reciprocal tariffs—including a 14% duty on Nigerian exports to the U.S.
The move comes in response to Nigeria’s 27% tariff on American goods, which the Trump administration claims creates an unfair trade imbalance.
According to data from Nigeria’s National Bureau of Statistics (NBS), trade between the two nations totaled N31.1 trillion from 2015 to 2024, with N16.4 trillion worth of imports from the U.S. Nigeria’s exports to the U.S. accounted for 8.7% of its global shipments, making America a key market for Nigerian goods.
Announcing the policy during a Rose Garden event dubbed "Liberation Day," Trump framed the tariffs as a historic reset to protect American jobs and force open foreign markets.
"This is one of the most important days in American history," Trump declared. "We will supercharge our domestic industrial base, pry open foreign markets, and break down foreign trade barriers."
The policy takes immediate effect, affecting major U.S. trade partners like China, the EU, India, and Japan, as well as developing economies in Africa, Asia, and Latin America.
For Nigeria, the 14% tariff could raise costs for key exports like crude oil, cocoa, and manufactured goods, potentially shrinking trade volumes with the U.S. Experts warn this could strain Nigeria’s economy, already grappling with inflation and currency pressures.
Will Nigeria retaliate with higher tariffs?
How will this impact Nigeria’s non-oil export growth plans?
Could this push Nigeria to strengthen trade ties with China and the EU?
By: Manoah kikekon
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Donald Trump and Bola Tinubu |
In a dramatic shift in U.S. trade policy, former President Donald Trump has announced a 10% baseline tariff on all imports, with additional country-specific reciprocal tariffs—including a 14% duty on Nigerian exports to the U.S.
The move comes in response to Nigeria’s 27% tariff on American goods, which the Trump administration claims creates an unfair trade imbalance.
According to data from Nigeria’s National Bureau of Statistics (NBS), trade between the two nations totaled N31.1 trillion from 2015 to 2024, with N16.4 trillion worth of imports from the U.S. Nigeria’s exports to the U.S. accounted for 8.7% of its global shipments, making America a key market for Nigerian goods.
Announcing the policy during a Rose Garden event dubbed "Liberation Day," Trump framed the tariffs as a historic reset to protect American jobs and force open foreign markets.
"This is one of the most important days in American history," Trump declared. "We will supercharge our domestic industrial base, pry open foreign markets, and break down foreign trade barriers."
The policy takes immediate effect, affecting major U.S. trade partners like China, the EU, India, and Japan, as well as developing economies in Africa, Asia, and Latin America.
For Nigeria, the 14% tariff could raise costs for key exports like crude oil, cocoa, and manufactured goods, potentially shrinking trade volumes with the U.S. Experts warn this could strain Nigeria’s economy, already grappling with inflation and currency pressures.
Will Nigeria retaliate with higher tariffs?
How will this impact Nigeria’s non-oil export growth plans?
Could this push Nigeria to strengthen trade ties with China and the EU?
By: Manoah kikekon
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Mele Kiyari and Bayo Ojulari |
In a bold move to revitalize Nigeria’s oil sector, President Bola Tinubu has removed Mele Kyari as Group CEO of the Nigerian National Petroleum Company (NNPC) Limited and dissolved its entire board, effective April 2, 2025.
The announcement, made early Wednesday by presidential aide Bayo Onanuga, cited the need for "enhanced operational efficiency, restored investor confidence, and a more commercially driven NNPC."
Bayo Ojulari (ex-Shell executive) takes over as Group CEO, replacing Kyari. Ahmadu Musa Kida (former Total executive) appointed as Non-Executive Chairman, succeeding Pius Akinyelure. Adedapo Segun confirmed as Chief Financial Officer (CFO).
Six new non-executive directors appointed across Nigeria’s geopolitical zones, including industry veterans like Babs Omotowa (ex-NLNG MD) and Austin Avuru (Seplat co-founder).
Strategic Goals: $60B Investments & 3M Barrels Daily by 2030
President Tinubu’s "NNPC Transformation Plan" targets: $30B investments by 2027, $60B by 2030, 2M barrels/day crude production by 2027, 3M by 2030, 200K barrels/day refining capacity by 2027, 500K by 2030 and 8B cubic feet gas output by 2027, 10B by 2030.
Why the Shake-Up?
The move aligns with the Petroleum Industry Act (PIA) 2021, aiming to reposition NNPC as a transparent, profit-driven entity. The new board has been handed a strategic action plan, including a review of NNPC’s joint ventures to maximize value.
Meet the New Leaders
Ahmadu Kida (Chairman) – Ex-Total deputy MD with 30+ years in oil & gas.
Bayo Ojulari (CEO) – Former Shell Nigeria Exploration MD and energy strategist.
Tinubu’s Vision: "We are taking bold steps to transform NNPC into a globally competitive company that drives Nigeria’s energy security and economic growth."
The outgoing board was commended for reviving Port Harcourt and Warri refineries, enabling local fuel production after years of shutdowns.
What’s Next? Industry analysts expect faster reforms, increased private-sector partnerships, and a push for modular refineries under the new leadership.
By: Manoah kikekon
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Mele Kiyari and Bayo Ojulari |
In a bold move to revitalize Nigeria’s oil sector, President Bola Tinubu has removed Mele Kyari as Group CEO of the Nigerian National Petroleum Company (NNPC) Limited and dissolved its entire board, effective April 2, 2025.
The announcement, made early Wednesday by presidential aide Bayo Onanuga, cited the need for "enhanced operational efficiency, restored investor confidence, and a more commercially driven NNPC."
Bayo Ojulari (ex-Shell executive) takes over as Group CEO, replacing Kyari. Ahmadu Musa Kida (former Total executive) appointed as Non-Executive Chairman, succeeding Pius Akinyelure. Adedapo Segun confirmed as Chief Financial Officer (CFO).
Six new non-executive directors appointed across Nigeria’s geopolitical zones, including industry veterans like Babs Omotowa (ex-NLNG MD) and Austin Avuru (Seplat co-founder).
Strategic Goals: $60B Investments & 3M Barrels Daily by 2030
President Tinubu’s "NNPC Transformation Plan" targets: $30B investments by 2027, $60B by 2030, 2M barrels/day crude production by 2027, 3M by 2030, 200K barrels/day refining capacity by 2027, 500K by 2030 and 8B cubic feet gas output by 2027, 10B by 2030.
Why the Shake-Up?
The move aligns with the Petroleum Industry Act (PIA) 2021, aiming to reposition NNPC as a transparent, profit-driven entity. The new board has been handed a strategic action plan, including a review of NNPC’s joint ventures to maximize value.
Meet the New Leaders
Ahmadu Kida (Chairman) – Ex-Total deputy MD with 30+ years in oil & gas.
Bayo Ojulari (CEO) – Former Shell Nigeria Exploration MD and energy strategist.
Tinubu’s Vision: "We are taking bold steps to transform NNPC into a globally competitive company that drives Nigeria’s energy security and economic growth."
The outgoing board was commended for reviving Port Harcourt and Warri refineries, enabling local fuel production after years of shutdowns.
What’s Next? Industry analysts expect faster reforms, increased private-sector partnerships, and a push for modular refineries under the new leadership.
By: Manoah kikekon
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Photo used to illustrate the story |
Residents of Badagry, Lagos, resisted an attempted raid by Nigeria Customs Service officers on rice stores near the Badagry Roundabout, an area located about 100 kilometers from the Seme Border.
The incident occurred on Friday around 4 p.m. when customs officers stormed the rice stores at Roundabout. However, the locals confronted them, forcing a retreat. Reports indicate that the officers vowed to return at night.
In this year alone, the Nigeria Customs Service has repeatedly raided rice stores in Badagry and neighboring communities, despite the area's significant distance from the Seme Border.
According to eyewitness Mutin Jimor, who spoke with News Peddlers*l, this marks the fourth time customs officers have raided the area this year, seizing over 700 bags of rice from local traders.
"They usually come at night, firing gunshots to scare people before breaking into stores. But this time, they came during the day, and the people were ready. As soon as the officers started shooting, the residents retaliated by throwing stones, forcing the customs officers to retreat," Jimor explained.
Pius Waliu, a local bread seller, credited the residents' bravery for preventing further intimidation.
"If not for the people standing their ground and stoning the officers despite the gunfire, the situation would have been worse. The officers had no choice but to flee," Waliu said.
CSP Folajimi Ogoshile, the Divisional Police Officer (DPO) of the Badagry Police Station, swiftly arrived at the scene to restore order. He described the clash as "unfortunate" but assured residents that normalcy had been restored.
"There is no need for panic. The situation is under control," Ogoshile stated.
The customs officers involved were reportedly from the Forward Operation Base (FOB) in Gbaji along the Seme Expressway. Despite Badagry's distance from the border, customs officials have continued confiscating rice, citing smuggling concerns.
This latest clash highlights growing tensions between traders and customs operatives over frequent seizures, raising questions about the legality and methods of enforcement in the region.
As at the time this report was gathered the road was lettered with stones.
By: Manoah kikekon
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Photo used to illustrate the story |
Residents of Badagry, Lagos, resisted an attempted raid by Nigeria Customs Service officers on rice stores near the Badagry Roundabout, an area located about 100 kilometers from the Seme Border.
The incident occurred on Friday around 4 p.m. when customs officers stormed the rice stores at Roundabout. However, the locals confronted them, forcing a retreat. Reports indicate that the officers vowed to return at night.
In this year alone, the Nigeria Customs Service has repeatedly raided rice stores in Badagry and neighboring communities, despite the area's significant distance from the Seme Border.
According to eyewitness Mutin Jimor, who spoke with News Peddlers*l, this marks the fourth time customs officers have raided the area this year, seizing over 700 bags of rice from local traders.
"They usually come at night, firing gunshots to scare people before breaking into stores. But this time, they came during the day, and the people were ready. As soon as the officers started shooting, the residents retaliated by throwing stones, forcing the customs officers to retreat," Jimor explained.
Pius Waliu, a local bread seller, credited the residents' bravery for preventing further intimidation.
"If not for the people standing their ground and stoning the officers despite the gunfire, the situation would have been worse. The officers had no choice but to flee," Waliu said.
CSP Folajimi Ogoshile, the Divisional Police Officer (DPO) of the Badagry Police Station, swiftly arrived at the scene to restore order. He described the clash as "unfortunate" but assured residents that normalcy had been restored.
"There is no need for panic. The situation is under control," Ogoshile stated.
The customs officers involved were reportedly from the Forward Operation Base (FOB) in Gbaji along the Seme Expressway. Despite Badagry's distance from the border, customs officials have continued confiscating rice, citing smuggling concerns.
This latest clash highlights growing tensions between traders and customs operatives over frequent seizures, raising questions about the legality and methods of enforcement in the region.
As at the time this report was gathered the road was lettered with stones.
By: Manoah kikekon
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Zenith Bank [Photo credit: The Cable] |
Zenith Bank Plc has announced an impressive N1.3 trillion Profit Before Tax (PBT) in its 2024 audited financial results, marking a 67% increase from the N796 billion recorded in 2023.
The financial powerhouse disclosed this milestone in a corporate filing submitted to the Nigerian Exchange Limited (NGX), reinforcing its position as a leader in Nigeria’s banking sector.
Key Financial Highlights: Gross Earnings Soar by 86% – From N2.13 trillion (2023) to N3.97 trillion (2024)
Interest Income Jumps 138% – Driven by strategic investments in high-yield government securities and loan book expansion
Net Interest Income Up 135% – Rising from N736 billion to N1.7 trillion
Total Assets Grow by 47% – Reaching N30 trillion, up from N20 trillion
Customer Deposits Increase by 45% – Climbing to N22 trillion.
Despite a slight rise in cost-to-income ratio (38.9% from 36.1%), Zenith Bank maintained strong asset quality, with a non-performing loan ratio of 4.7% and an impressive 223% coverage ratio.
Dr. Adaora Umeoji, Group Managing Director/CEO, attributed the outstanding performance to the bank’s customer-focused innovations** and strategic financial management.
“Our 2024 results reflect Zenith Bank’s relentless drive for excellence, financial inclusion, and superior stakeholder value. We remain committed to delivering cutting-edge solutions while sustaining growth in key economic sectors,” she stated.
With this record-breaking performance, Zenith Bank continues to set industry benchmarks, reinforcing investor confidence and its reputation as Nigeria’s most profitable bank.
(NAN)
By: Manoah kikekon
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Zenith Bank [Photo credit: The Cable] |
Zenith Bank Plc has announced an impressive N1.3 trillion Profit Before Tax (PBT) in its 2024 audited financial results, marking a 67% increase from the N796 billion recorded in 2023.
The financial powerhouse disclosed this milestone in a corporate filing submitted to the Nigerian Exchange Limited (NGX), reinforcing its position as a leader in Nigeria’s banking sector.
Key Financial Highlights: Gross Earnings Soar by 86% – From N2.13 trillion (2023) to N3.97 trillion (2024)
Interest Income Jumps 138% – Driven by strategic investments in high-yield government securities and loan book expansion
Net Interest Income Up 135% – Rising from N736 billion to N1.7 trillion
Total Assets Grow by 47% – Reaching N30 trillion, up from N20 trillion
Customer Deposits Increase by 45% – Climbing to N22 trillion.
Despite a slight rise in cost-to-income ratio (38.9% from 36.1%), Zenith Bank maintained strong asset quality, with a non-performing loan ratio of 4.7% and an impressive 223% coverage ratio.
Dr. Adaora Umeoji, Group Managing Director/CEO, attributed the outstanding performance to the bank’s customer-focused innovations** and strategic financial management.
“Our 2024 results reflect Zenith Bank’s relentless drive for excellence, financial inclusion, and superior stakeholder value. We remain committed to delivering cutting-edge solutions while sustaining growth in key economic sectors,” she stated.
With this record-breaking performance, Zenith Bank continues to set industry benchmarks, reinforcing investor confidence and its reputation as Nigeria’s most profitable bank.
(NAN)
By: Manoah Kikekon
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Nigeria Navy |
The Forward Operating Base (FOB) Badagry of the Nigerian Navy has intercepted 13,800 litres of petrol and 71 bags of foreign rice in a series of anti-smuggling operations along the Badagry creeks.
The Commanding Officer of FOB Badagry, Navy Captain Oyeleye Omotayo, disclosed this in a statement on Sunday, confirming that the seizures took place between March 7 and 14, 2024. According to him, naval operatives acted on credible intelligence about suspected smuggling activities in the area, leading to the successful interception.
In an early morning operation on Friday, March 14, at 2:54 am, naval personnel launched a targeted mission to disrupt smuggling networks.
"The smugglers initially evaded our water patrol but were intercepted by our land patrol team around 3:30 am," Omotayo stated. "A total of 71 bags of foreign rice were seized, while the suspects fled upon sighting our patrol at 4:22 am."
The confiscated rice has been moved to the base for further action in line with standard procedures.
On the same day, at12:15 am, naval intelligence uncovered a large stockpile of petrol at Bollington Beach in the Badagry creeks. Reports indicated that the fuel was being prepared for illegal export via wooden boats to Benin Republic.
A search of the area led to the discovery of 234 jerry cans (25 litres each), amounting to 5,850 litres of petrol, which were swiftly confiscated.
The Commanding Officer also revealed that 7,770 litres of petrol were seized in separate operations across Badagry communities. Additionally, 7,950 litres of petrol previously intercepted from **two filling stations and Tongeji Island on March 7 and 8** were processed in accordance with the law.
The Nigerian Navy remains committed to curbing illegal smuggling activities, safeguarding the nation’s economic interests, and maintaining security within its territorial waters.
(The GUARDIAN)
By: Manoah Kikekon
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Nigeria Navy |
The Forward Operating Base (FOB) Badagry of the Nigerian Navy has intercepted 13,800 litres of petrol and 71 bags of foreign rice in a series of anti-smuggling operations along the Badagry creeks.
The Commanding Officer of FOB Badagry, Navy Captain Oyeleye Omotayo, disclosed this in a statement on Sunday, confirming that the seizures took place between March 7 and 14, 2024. According to him, naval operatives acted on credible intelligence about suspected smuggling activities in the area, leading to the successful interception.
In an early morning operation on Friday, March 14, at 2:54 am, naval personnel launched a targeted mission to disrupt smuggling networks.
"The smugglers initially evaded our water patrol but were intercepted by our land patrol team around 3:30 am," Omotayo stated. "A total of 71 bags of foreign rice were seized, while the suspects fled upon sighting our patrol at 4:22 am."
The confiscated rice has been moved to the base for further action in line with standard procedures.
On the same day, at12:15 am, naval intelligence uncovered a large stockpile of petrol at Bollington Beach in the Badagry creeks. Reports indicated that the fuel was being prepared for illegal export via wooden boats to Benin Republic.
A search of the area led to the discovery of 234 jerry cans (25 litres each), amounting to 5,850 litres of petrol, which were swiftly confiscated.
The Commanding Officer also revealed that 7,770 litres of petrol were seized in separate operations across Badagry communities. Additionally, 7,950 litres of petrol previously intercepted from **two filling stations and Tongeji Island on March 7 and 8** were processed in accordance with the law.
The Nigerian Navy remains committed to curbing illegal smuggling activities, safeguarding the nation’s economic interests, and maintaining security within its territorial waters.
(The GUARDIAN)
By: Manaoh Kikekon
Economic Growth, Job Creation, and Seamless Trade Await as Government Seeks Community Cooperation
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Lagos-Abidjan corridor [ Photo credit: the Guardian] |
The Federal Government has highlighted the immense economic and social benefits of the ECOWAS Abidjan-Lagos corridor highway project, urging residents, traditional leaders, and stakeholders along the Agbara-Badagry route to support its smooth implementation.
At a recent stakeholders’ town hall meeting in Agbara, David Nwedu, Project Director for Communication and Visibility Study of the Abidjan-Lagos Corridor Highway Development Project, emphasized the highway’s strategic importance. He revealed that the corridor supports 75% of ECOWAS’s economic activities, spanning Nigeria, Benin, Togo, Ghana, and Côte d’Ivoire.
Nwedu described the initiative as a game-changer for regional trade, with plans underway to integrate a rail line to enhance connectivity. The project aims to eliminate border restrictions by 2045, ensuring seamless movement of goods and people across West Africa.
Key benefits include: Thousands of jobs during construction, Boosted commerce for local businesses, New industrial hubs along the corridor, and Increased foreign investment and tourism.
Community Engagement Critical for Smooth Implementation
Olukorede Kesha, Federal Controller of Works for Lagos State, stressed the importance of community awareness and cooperation, particularly in adhering to the Right of Way (RoW). She noted that the meeting aimed to educate residents, many of whom were engaging in such discussions for the first time.
Kesha assured stakeholders that community concerns—such as street lighting and bridge expansions—have been factored into the project design, ensuring a balanced approach to development.
With strong stakeholder collaboration, the ECOWAS highway promises to transform West Africa’s economic landscape, fostering trade, employment, and regional integration.
By: Manaoh Kikekon
Economic Growth, Job Creation, and Seamless Trade Await as Government Seeks Community Cooperation
![]() |
Lagos-Abidjan corridor [ Photo credit: the Guardian] |
The Federal Government has highlighted the immense economic and social benefits of the ECOWAS Abidjan-Lagos corridor highway project, urging residents, traditional leaders, and stakeholders along the Agbara-Badagry route to support its smooth implementation.
At a recent stakeholders’ town hall meeting in Agbara, David Nwedu, Project Director for Communication and Visibility Study of the Abidjan-Lagos Corridor Highway Development Project, emphasized the highway’s strategic importance. He revealed that the corridor supports 75% of ECOWAS’s economic activities, spanning Nigeria, Benin, Togo, Ghana, and Côte d’Ivoire.
Nwedu described the initiative as a game-changer for regional trade, with plans underway to integrate a rail line to enhance connectivity. The project aims to eliminate border restrictions by 2045, ensuring seamless movement of goods and people across West Africa.
Key benefits include: Thousands of jobs during construction, Boosted commerce for local businesses, New industrial hubs along the corridor, and Increased foreign investment and tourism.
Community Engagement Critical for Smooth Implementation
Olukorede Kesha, Federal Controller of Works for Lagos State, stressed the importance of community awareness and cooperation, particularly in adhering to the Right of Way (RoW). She noted that the meeting aimed to educate residents, many of whom were engaging in such discussions for the first time.
Kesha assured stakeholders that community concerns—such as street lighting and bridge expansions—have been factored into the project design, ensuring a balanced approach to development.
With strong stakeholder collaboration, the ECOWAS highway promises to transform West Africa’s economic landscape, fostering trade, employment, and regional integration.
By: Manaoh Kikekon
PBOC Adopts Auction-Based Pricing for Medium-Term Loans to Gauge Market Demand
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Chinese Central Bank |
China’s central bank announced changes to its medium-term lending operations, a shift analysts say could further weaken the instrument’s role in guiding monetary policy.
The People’s Bank of China (PBOC) revealed plans to issue 450 billion yuan ($62.03 billion) in one-year medium-term lending facility (MLF) loans on Tuesday.
Starting this month, MLF operations will transition to a fixed-quantity, interest-rate bidding, and multiple-price bidding approach, the PBOC said.
"This fixed-volume, auction-based method is another step toward reducing the MLF rate’s role as a policy benchmark," said Frances Cheung, head of FX and rates strategy at OCBC Bank. "The new pricing mechanism will allow policymakers to assess market demand at varying interest rate levels."
The PBOC stated that the adjustment aims to "maintain ample banking system liquidity" and "better address the differentiated funding needs of financial institutions."
In recent years, China’s central bank has increasingly relied on the seven-day reverse repo rate as its primary policy tool, while scaling back the influence of other bond instrument rates.
This month, 387 billion yuan in MLF loans were set to mature. Tuesday’s operation is expected to inject a net 63 billion yuan into the market, providing liquidity support, according to Cheung.
The PBOC also signaled potential future easing, stating after a quarterly policy meeting that it would cut banks’ reserve requirement ratio and interest rates at the "appropriate time."
($1 = 7.2542 Chinese yuan renminbi)
(REUTERS)
By: Manaoh Kikekon
PBOC Adopts Auction-Based Pricing for Medium-Term Loans to Gauge Market Demand
![]() |
Chinese Central Bank |
China’s central bank announced changes to its medium-term lending operations, a shift analysts say could further weaken the instrument’s role in guiding monetary policy.
The People’s Bank of China (PBOC) revealed plans to issue 450 billion yuan ($62.03 billion) in one-year medium-term lending facility (MLF) loans on Tuesday.
Starting this month, MLF operations will transition to a fixed-quantity, interest-rate bidding, and multiple-price bidding approach, the PBOC said.
"This fixed-volume, auction-based method is another step toward reducing the MLF rate’s role as a policy benchmark," said Frances Cheung, head of FX and rates strategy at OCBC Bank. "The new pricing mechanism will allow policymakers to assess market demand at varying interest rate levels."
The PBOC stated that the adjustment aims to "maintain ample banking system liquidity" and "better address the differentiated funding needs of financial institutions."
In recent years, China’s central bank has increasingly relied on the seven-day reverse repo rate as its primary policy tool, while scaling back the influence of other bond instrument rates.
This month, 387 billion yuan in MLF loans were set to mature. Tuesday’s operation is expected to inject a net 63 billion yuan into the market, providing liquidity support, according to Cheung.
The PBOC also signaled potential future easing, stating after a quarterly policy meeting that it would cut banks’ reserve requirement ratio and interest rates at the "appropriate time."
($1 = 7.2542 Chinese yuan renminbi)
(REUTERS)
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Telecommunications mast [Photo credit: Guardian] |
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Telecommunications mast [Photo credit: Guardian] |
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Light bulb and electricity poles |
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Light bulb and electricity poles |
....spreading good news