The Central Bank of Nigeria’s (CBN) monetary policy tightening measures have led to a decrease in the country’s monthly inflation rate for the third consecutive month. The National Bureau of Statistics reported that the month-on-month inflation figure dropped to 2.14% in May, down from 2.29% in April and 3.02% in March. This decrease suggests that…
Nigeria’s rich culture is gaining international recognition, and festivals like the popular Ojude-Oba celebration are leading the charge. Rich cultural events like the Ojude-Oba offer a unique window into Nigerian traditions, showcasing the country’s depth and beauty in a fresh and engaging way. With dazzling glitz and glam, ‘steeze’ and breeze, flamboyance, and elegance, pomp,…
The Nigerian Army has achieved a landmark in its quest to enhance its operational capabilities with the arrival of the first batch of new aircraft. This significant development marks a pivotal moment in the establishment of the Nigerian Army Aviation wing, envisioned to provide critical air support for ground operations. The newly acquired BELL UH-1H…
Nigerian Ministers, Minister of Finance, Wale Edun, and the Minister of Budget and Economic Planning, Senator Atiku Bagudu, recently met with a delegation of Canadian investors to explore investment opportunities in Nigeria. The meeting was hosted by African Capital Alliance, led by Chairman Mr. Okey Enelamah, former Minister of Industry, Trade, and Investments. This meeting…
Illegal refineries in Nigeria have become a significant national issue, comparable to illicit drugs, child labor, and baby factories. Despite ongoing efforts by the government and local communities to crack down on these operations, they continue to proliferate, particularly in the oil-rich Niger Delta region. The presence of these unauthorized refineries poses severe environmental and…
The Comptroller-General of Customs, Mr. Adewale Adeniyi, has announced significant progress in curtailing PMS smuggling nationwide. Addressing the press in Yola, he highlighted the Customs Service’s initiative, supported by the Office of the National Security Adviser, aimed at combating economic saboteurs. This collaborative effort has yielded impressive results, showcasing the agency’s commitment to tackling smuggling….
Festus Keyamo revealed that the cessation of the visa ban was agreed upon during President Bola Ahmed Tinubu’s visit to the UAE in September 2023, but additional processes need to be completed before the ban can be officially lifted. The Minister of Aviation confirmed that he is aware of the date for lifting the visa…
The Nigerian government has expressed strong disapproval of the New York Times’ recent report titled “Nigeria Confronts Its Worst Economic Crisis in a Generation.” Authored by Ruth Maclean and Ismail Auwal, the article, published on June 11, 2024, was described by the Nigerian authorities as reductionist and derogatory. They argue that it represents a continuation…
The Central Bank of Nigeria (CBN) has taken a significant step to stabilize the country’s foreign exchange market by creating a special account called the Gazelle Funding Account. The account has an initial deposit of $2.9 billion, which is part of the $3.3 billion loan secured from Afrexim Bank. This move is aimed at boosting…
Nigeria’s journey to democratic maturity reached a pivotal milestone with the celebration of its Silver Jubilee of uninterrupted democratic governance. Over the past 25 years, the country has seen a remarkable consistency in the peaceful transfer of power between different political parties, underscoring the robust commitment of key stakeholders to the principles of democracy. This…
