Category: Business & Development

Uneven Distribution of World Bank Loan causes Kaduna State to Cry Out

Tolu Adebayo

Stakeholders in Kaduna State are raising alarm over the alleged uneven distribution of a $350 million World Bank loan secured by the administration of former Governor Nasir El-Rufai. The loan, intended to fund an ambitious Urban Renewal Programme aimed at modernizing infrastructure across the state, has left 12 local government areas (LGAs) in a state of neglect, sparking calls for accountability and a thorough investigation. The affected LGAs—Birnin Gwari, Giwa, Ikara, Jaba, Kagarko, Kajuru, Kauru, Kudan, Makarfi, Sanga, Soba, and Zangon Kataf—have borne the brunt of what residents describe as…

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AfDB Approves $650 million Strategy to Power Nigeria’s Growth

Tolu Adebayo

The African Development Bank (AfDB) has approved a bold five-year Country Strategy Paper (CSP) for Nigeria, starting in 2025. The plan commits roughly $650 million each year to drive sustainable growth and development across key sectors. Unveiled during a virtual board meeting, the CSP supports Nigeria’s goals in infrastructure, agriculture, energy, and human capital. According to AfDB officials, the funding aligns with Nigeria’s development agenda and the African Continental Free Trade Area. It also supports the Sustainable Development Goals, focusing on food security, electricity access, and private sector involvement. AfDB…

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Reno Omokri Advises Lagosians to Ditch ‘Aso Ebi’ Pressure and Party Culture for Financial Relief

Onwuama Arinze Godswill

Reno Omokri Advises Lagosians to Ditch ‘Aso Ebi’ Pressure and Party Culture for Financial Relief Lagos, Nigeria – Renowned social commentator and former presidential aide to ex-President Goodluck Jonathan, Reno Omokri, has sparked a conversation on personal finance and cultural norms in Lagos, urging residents to reevaluate their spending habits amid rising economic pressures. In a series of posts on his social media platforms, Omokri highlighted how the traditional Nigerian custom of ‘Aso Ebi’—the coordinated fabric outfits worn at weddings, birthdays, and other social events—along with the city’s notorious party…

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Dangote Refinery Slashes Diesel Price Again, Offers Further Relief to Businesses

Onwuama Arinze Godswill

Dangote Refinery Slashes Diesel Price Again, Offers Further Relief to Businesses LAGOS, Nigeria – The Dangote Petroleum Refinery has announced a further significant reduction in the price of Automotive Gas Oil (AGO), commonly known as diesel, marking the second such slash in recent weeks. This move is expected to provide additional relief to businesses and consumers grappling with high energy costs. The new price, announced by the refinery management, brings diesel down to approximately N940 per litre for customers buying 5 million litres and above, and around N970 per litre…

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CBEX Promoters Used EFCC, CAC Certificates to Deceive 600,000 Investors, Authorities Allege

Onwuama Arinze Godswill

CBEX Promoters Used EFCC, CAC Certificates to Deceive 600,000 Investors, Authorities Allege Promoters of a purported investment scheme operating under the name “CBEX” are alleged to have swindled an estimated 600,000 unsuspecting investors across Nigeria by presenting fake or deliberately misleading certificates purportedly from the Economic and Financial Crimes Commission (EFCC) and the Corporate Affairs Commission (CAC). This shocking revelation was made public by the EFCC, which confirmed it has launched a major investigation into the elaborate fraudulent operation. According to sources within the anti-graft agency, the perpetrators behind CBEX…

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Harvard Defies Trump-Era Antisemitism Demands, Risks Billions in Federal Funding

Onwuama Arinze Godswill

Harvard Defies Trump-Era Antisemitism Demands, Risks Billions in Federal Funding Cambridge, MA – In a move that could trigger a significant financial fallout, Harvard University on Monday reportedly rejected a list of sweeping demands from the federal government, demands the Trump administration framed as necessary to combat antisemitism on college campuses. The Ivy League giant is now facing the potential loss of billions of dollars in federal funding as it pushes back against what it deems overly broad and potentially infringing measures. Sources familiar with the matter indicate that the…

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Starlink Officially Licensed to Beam Satellite Internet Across Somalia, Promising Connectivity Leap

oluwatobi enitan

Starlink Officially Licensed to Beam Satellite Internet Across Somalia, Promising Connectivity Leap Mogadishu, Somalia – In a move hailed as a potential game-changer for connectivity in the Horn of Africa nation, Somalia’s National Communications Authority (NCA) has officially granted SpaceX’s Starlink a license to operate within the country. This landmark decision paves the way for Starlink to begin offering its satellite internet services across Somalia, promising faster and more reliable internet access, particularly in underserved and remote areas. The announcement, made by the NCA earlier today, marks a significant step…

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Major Fuel Facility Announce Price Cut, Raising Hopes for Cheaper Petrol in Nigeria

Onwuama Arinze Godswill

Major Fuel Facility Announce Price Cut, Raising Hopes for Cheaper Petrol in Nigeria LAGOS, Nigeria – Nigerians may soon experience some relief at the fuel pump as a major 650,000-barrel capacity petroleum facility has announced a significant reduction in its loading costs. The facility has informed marketers and customers of the downward review, slashing its ex-gantry price to N865 per litre, a move poised to potentially ease the burden of high fuel prices currently gripping the nation. This downward adjustment at the ex-gantry level, which is the price at which…

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Major Fuel Facility Announce Price Cut, Raising Hopes for Cheaper Petrol in Nigeria

oluwatobi enitan

Major Fuel Facility Announce Price Cut, Raising Hopes for Cheaper Petrol in Nigeria LAGOS, Nigeria – Nigerians may soon experience some relief at the fuel pump as a major 650,000-barrel capacity petroleum facility has announced a significant reduction in its loading costs. The facility has informed marketers and customers of the downward review, slashing its ex-gantry price to N865 per litre, a move poised to potentially ease the burden of high fuel prices currently gripping the nation. This downward adjustment at the ex-gantry level, which is the price at which…

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Trump Offers Tariff Truce, But Accentuates Harder Line on China

Onwuama Arinze Godswill

Trump Offers Tariff Truce, But Accentuates Harder Line on China Washington D.C. – In a move that has sent ripples through global markets, President Donald Trump has announced a 90-day pause on planned tariff increases on Chinese goods, offering a temporary reprieve in the escalating trade war between the world’s two largest economies. However, beneath the surface of this apparent olive branch, the Trump administration has simultaneously signaled a hardening stance towards Beijing, suggesting the truce may be more of a strategic maneuver than a genuine softening of trade policy.…

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Fuel Price Drop, CNG Debut, Yet Transport Fares Defy Gravity in Nigeria

Onwuama Arinze Godswill

Fuel Price Drop, CNG Debut, Yet Transport Fares Defy Gravity in Nigeria LAGOS, NIGERIA – Despite a recent dip in petrol pump prices and the government’s ambitious push for Compressed Natural Gas (CNG) as a cheaper alternative fuel, Nigerian commuters are expressing widespread frustration and anger as transportation fares remain stubbornly high across the country. Citizens are questioning the intended benefits of these initiatives, as their daily commute continues to eat deeper into their pockets. For weeks, the news of reduced fuel prices and the touted cost-effectiveness of CNG had…

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Tinubu Shakes Up Oil Sector: Sacks Kyari, NNPCL Board Citing Poor Performance and Lack of Transparency – Officials

oluwatobi enitan

Tinubu Shakes Up Oil Sector: Sacks Kyari, NNPCL Board Citing Poor Performance and Lack of Transparency – Officials ABUJA, NIGERIA – In a dramatic move signaling a potential overhaul of the nation’s crucial oil and gas sector, President Bola Ahmed Tinubu has reportedly sacked Mele Kyari as the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), along with the entire board, according to top government officials. While no official statement has been released by the Presidency or NNPCL, multiple sources within the government, speaking on…

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