In response to a recent lead poisoning crisis in Zamfara State, Nigerian authorities have intensified efforts to combat illegal mining activities, which are often linked to such health emergencies. The Zamfara State government confirmed the lead poisoning incident in Bungudu Local Government Area on March 19, 2025, prompting immediate intervention. Governor Dauda Lawal has taken decisive action by banning illegal mining in the state and directing security operatives to adopt stringent measures against violators. He emphasized that illegal mining significantly contributes to the rampant banditry and criminal activities plaguing Zamfara. Law enforcement agencies have been instructed to take bold action…
Author: Temitope N.
The Nigerian-American Chamber of Commerce (NACC) is set to host a high-profile gala this April to mark its 65th anniversary, and the lineup of attendees reflects the importance of the occasion. Vice President Kashim Shettima will serve as the Special Guest of Honour, while Lagos State Governor Babajide Sanwo-Olu will act as Chief Host. The event, scheduled to take place on April 12 at the Lagos Continental Hotel, Victoria Island, promises to be a landmark celebration of bilateral relations and business development between Nigeria and the United States. This year’s gala will not only celebrate the chamber’s legacy but also…
In a move designed to protect consumers and improve transparency in the telecom sector, the Nigerian Communications Commission (NCC) has proposed a new policy that will give subscribers a 12-month grace period to reclaim unused airtime on deactivated SIM cards. The new guideline, currently under review, could mark a significant shift in how telecom operators manage dormant lines and prepaid balances. At the heart of the proposal is the goal of addressing the longstanding issue of unclaimed airtime and prepaid credits, especially in cases where lines become inactive due to long-term non-use. Under current practices, once a SIM card is…
The Central Bank of Nigeria (CBN) has reported a decline in the country’s money supply, which fell to N110.3 trillion in February 2024. This marks a reduction from previous months, reflecting the impact of recent monetary policies aimed at stabilizing the economy and curbing inflationary pressures. The drop in money supply follows the CBN’s tightened monetary measures, including increased interest rates and liquidity control strategies. These policies were implemented to manage inflation, strengthen the naira, and ensure economic stability amid fluctuating forex reserves and rising consumer prices. Impact of the Decline in Money Supply A contraction in money supply generally…
Nigerians may soon face another increase in petrol prices as negotiations over the proposed naira-for-crude oil exchange drag on, leading to a surge in fuel imports. The prolonged discussions have created uncertainty in the downstream sector, with marketers warning that continued reliance on expensive imports could push pump prices higher. The naira-for-crude policy, introduced as an alternative to dollar payments for crude oil transactions, was expected to ease pressure on Nigeria’s foreign exchange reserves and stabilize fuel prices. However, delays in finalizing agreements between oil producers and the government have left fuel importers with no choice but to continue sourcing…
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has announced that the Port Harcourt Refinery has successfully operated for 180 consecutive days without interruption. This milestone marks a significant step in Nigeria’s efforts to strengthen local refining capacity and reduce dependence on imported petroleum products. According to PETROAN, the refinery’s sustained operation underscores the government’s commitment to revitalizing the country’s refining infrastructure. The Port Harcourt Refinery, which resumed operations after years of inactivity, has been processing crude oil consistently, ensuring a steady supply of refined products to the domestic market. Impact on Fuel Supply and Pricing The continued…
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has clarified that Dangote Petroleum Refinery continues to sell fuel in naira, countering speculations that the company had switched to dollar transactions. The clarification comes amid concerns over foreign exchange volatility and its impact on fuel pricing in Nigeria. Speaking on the matter, PETROAN officials reassured marketers and consumers that Dangote Refinery has not altered its pricing model to require payment in U.S. dollars. Instead, the refinery maintains its transactions in naira, ensuring accessibility for local buyers and reducing pressure on forex demand in the downstream sector. Fuel Pricing and…
The Nigerian National Petroleum Company Limited (NNPCL) has announced plans to sell shares, marking a significant step in its transition towards becoming a commercially driven entity. This move is expected to open up investment opportunities for both local and foreign investors, signaling a major shift in Nigeria’s oil and gas industry. The announcement comes as part of the ongoing reforms aimed at enhancing transparency, efficiency, and profitability in the state-owned oil corporation. With the sale of shares, NNPCL is set to operate more like an independent commercial entity, reducing government control while increasing private sector participation. Implications of the Share…
Fidelity Bank has extended its corporate social responsibility efforts to Kano State by providing food supplies to underserved communities, reinforcing its commitment to supporting Nigerians in need. The initiative, aimed at alleviating food insecurity, comes at a time when many households are struggling with the rising cost of living. During the distribution exercise, representatives of the bank emphasized the importance of giving back to society, especially in regions where economic challenges have made daily survival difficult for many families. The food relief package included essential staples such as rice, beans, and other household necessities, ensuring that beneficiaries had access to…
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has revealed that women now occupy 35% of board positions in Nigerian banks, marking significant progress in gender inclusion within the financial sector. This development reflects ongoing efforts to promote diversity in leadership and ensure that women have a stronger voice in key decision-making roles. Cardoso made this statement while addressing stakeholders at a financial industry event, where he emphasized the importance of gender balance in corporate governance. He noted that the increased representation of women in banking leadership was a result of deliberate policies aimed at fostering inclusivity…