Nigeria, endowed with extensive natural gas reserves estimated at approximately 209 trillion cubic feet, is on the cusp of a transformative “gas revolution” aimed at driving its economy to new heights. President Bola Tinubu’s recent inauguration of three significant gas processing projects marks a pivotal step in this ambitious plan. However, the question remains: Can…
Emirates, one of the world’s leading airlines, has announced the resumption of its services to Nigeria from October 1st, 2024. The airline will operate a daily service between Lagos and Dubai, providing passengers with increased connectivity and travel options from Nigeria’s bustling metropolis to Dubai and beyond. Operating with a Boeing 777-300ER aircraft, the daily…
The African Development Bank has announced its plans to support Nigeria’s power sector with $1 billion. This support fund will be channelled through a policy-based operation (PBO) with a significant energy component aimed at supporting the ongoing power sector reforms triggered by the new Electricity. African Development Bank aims to improve the power sector in…
The Economic and Financial Crimes Commission (EFCC) has formally charged former Central Bank of Nigeria (CBN) Governor Godwin Emefiele for his alleged misconduct during the controversial naira swap policy. Emefiele stands accused of authorizing the massive production of N684.5 million at a staggering cost of N18.96 billion, potentially causing significant harm to the public interest….
Nigeria aimed at bolstering bilateral relations and addressing food security concerns, the Honourable Minister of Agriculture and Food Security, Senator Abubakar Kyari, CON, has unveiled plans for a strategic partnership with the Kingdom of Saudi Arabia to ramp up food production and other agricultural initiatives. This announcement came during a recent visit to Abuja by…
The Nigerian Army’s Operation Hadin Kai Theater Command has initiated a significant operation to eliminate the remnants of terrorist factions plaguing communities within and around the Timbuktu Triangle and Sambisa Forest. This strategic move aims to quell the persistent threat posed by these insurgents and restore stability to the region. Operation Desert Sanity III marks…
Minister of Power, Adebayo Adelabu articulated that Nigeria’s energy landscape is experiencing a remarkable transformation as the nation’s power sector has achieved a significant milestone – the capacity to produce 5,000 megawatts (MW) of electricity. This remarkable achievement, announced by the Minister of Power, Adebayo Adelabu, is a testament to the country’s unwavering efforts to…
Nigeria is bracing for widespread disruptions as organized labour unions across the country have launched nationwide protests against the Federal Government’s controversial policies in the power sector. The protests, spearheaded by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), are in response to the government’s decision to increase electricity tariffs and eliminate…
The International Monetary Fund (IMF) has advised the Nigerian government to discontinue what it has described as hidden subsidies on fuel and electricity. In a recent report, the IMF warned Nigeria that these subsidies are expected to consume a significant portion of the country’s Gross Domestic Product (GDP) in the upcoming year, highlighting the need…
In a bid to bolster economic ties and facilitate trade between Nigeria and China, the Nigeria Customs Service (NCS) has inked a Memorandum of Understanding (MoU) with the General Administration of Customs of the People’s Republic of China (GACC). This strategic partnership aims to streamline import-export operations and benefit Nigerian micro, small, and medium enterprises…
