World Bank’s Country Director for Nigeria, Dr. Ndiame Diop, has confirmed that Nigeria remains Africa’s largest economy by Gross Domestic Product (GDP), despite the challenges faced by its private sector. Speaking at the Country Private Sector Diagnostic (CPSD) and Stakeholder Engagement in Abuja on Thursday, Dr. Diop stated that while Nigeria receives far less Foreign Direct Investment (FDI) than its potential warrants – especially in comparison to countries such as Indonesia and South Africa – it continues to hold its position as Africa’s biggest economy. He stated that the CPSD…
Read MoreAuthor: Aminu Imam
Tinubu set to appoint new NNPCL GCEO, Board chairman
President Bola Ahmed Tinubu is reportedly making significant changes at the helm of the Nigerian National Petroleum Company Limited (NNPCL). According to reports, plans are underway to replace the current Group Chief Executive Officer, (GCEO), Mele Kyari, with Bayo Ojulari, a former Managing Director of Shell Nigeria Exploration and Production Company, (SNEPCo). In addition to this change, Ahmadu Musa Kida, a seasoned oil and gas professional and former Deputy Managing Director of Total Oil, is set to take over as the new Chairman of the NNPCL Board. This move will…
Read More“Nigeria’s economy on the rise” – Finance Minister
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has affirmed that Nigeria’s economy is experiencing significant growth, presenting attractive opportunities for investors. Speaking in Abuja during a meeting with a high-level delegation from First Abu-Dhabi Bank, led by Group Head of Investment Banking, Martin Tricaud, Edun outlined the country’s economic transformation and ongoing reforms aimed at fostering investment and sustainable growth. He highlighted key policy measures implemented over the past 18 months, including market-driven pricing for foreign exchange, petroleum and increased trade under the African Continental Free…
Read MoreMutiny Alert: Senior police officers reject retirement
A storm is brewing within the Nigeria Police Force, as senior officers accused of age falsification resist retirement, fueling an internal crisis. According to reports, some of these officers have remained in the force for over 44 years, leading to heightened tensions within the Nigeria Police Force. The tension has escalated into a power struggle between Inspector-General of Police (IGP), Kayode Egbetokun and Deputy Inspector-General (DIG), Dasuƙi Galadanchi over a controversial two-year service extension request. Galadanchi, whose tenure had already been extended, is demanding an additional two years, arguing that…
Read More‘Nigeria’s Lithium boom raises concerns’ – Stakeholders
Nigeria’s artisanal lithium mining is drawing thousands seeking fortune, but concerns over illegal operations, environmental impact, and conflicts persist. In Nasarawa State, miners, such as Abdullahi Ibrahim Ɗanjija earn twice the minimum wage extracting the metal vital for electric batteries and mobile phones. Much of the mining is informal, with families, including children, working without permits or safety measures. Chinese companies dominate the trade, buying raw lithium and processing it locally before exporting it. Nigeria aims to attract investment, but now requires foreign firms to set-up processing plants, a move…
Read MoreEx-Gov. Fayemi apologises to Nigerians over APC’s unmet promises
Former governor of Ekiti State, Kayode Fayemi, has issued a public apology to Nigerians for the shortcomings of the All-Progressives Congress (APC) during its time in power. Speaking on a television programme yesterday, Fayemi, who briefly served as a minister in President Muhammadu Buhari’s administration, admitted that the party had failed to deliver on key promises made to the Nigerian people. “We have not succeeded in achieving everything we promised”, Fayemi said, acknowledging the APC’s inability to bring the desired change to the country. He also noted that the party’s…
Read MoreAbuja residents struggle, as NNPCL closes fuel stations over logistics issues
Residents of the Federal Capital Territory, (FCT), have been left stranded and grappling with fuel shortages following the sudden closure of several retail outlets owned by the Nigerian National Petroleum Corporation Limited (NNPCL) within the capital city. It was gathered that the stations closed for some days, were allegedly ordered by the management of the national oil firm and will continue till next week. The closures, attributed to logistical challenges, have led to long queues at the remaining independent fuel stations, who now sell their products at higher prices, thereby…
Read MoreKaduna: “I support probe of my father’s tenure” – el-Rufa’i’s son
Eldest son of former governor of kaduna State, Nasir el-Rufa’i, has said he has no problem with the Kaduna State government probing his father’s tenure. However, Mohammed has called for the process be done with clear, unbiased intent. The lawmaker representing Kaduna-North federal constituency in the 10th House of Representatives, who stated this in an interview yesterday, noted that “accountability is crucial, but any probe must not be about settling personal scores”. Mohammed said that investigations should not be used as a political weapon. “If done for selfish reasons, such…
Read MoreNigerians to pay more for goods, as FG increases ports tariff by 15%
The Federal Government, through the Nigerian Ports Authority (NPA), has announced a 15% upward review of its port charges, citing the need for competitiveness and infrastructural development. Its Managing Director, Dr. Abubakar Ɗantsoho, made this disclosure during a maritime stakeholders’ meeting held in Lagos on Thursday. According to him, this adjustment, the first in 32 years, aims to address significant infrastructure deficits and improve port competitiveness. He said the increased revenue will be used for modernising port facilities, acquiring new equipment, and enhancing ICT systems. The NPA boss highlighted that…
Read MoreProposed 12-yr education model: ‘FG to engage stakeholders’ – Minister
Minister of Education, Dr. Tunji Alausa, yesterday said the Federal Government will engage stakeholders over the proposed 12-year basic education model. Alausa, who made this known yesterday during a press briefing in Abuja, during the Extraordinary National Council on Education Meeting, presented a proposal that aims to transition to 12 years of compulsory education within the existing 6-3-3 system. However, he said that this is a proposal for discussion, not an immediate policy shift. A major feature of the proposal, he said, is the removal of the examination barrier between…
Read More