The Nigerian Railway Corporation (NRC) has confirmed that passenger train operations along the Warri-Itakpe corridor will resume soon, following months of suspension due to a derailment incident and other operational disruptions. The Corporation disclosed that comprehensive repair works and safety checks have been carried out on the rail infrastructure to ensure a smooth and secure restart of services. The Warri-Itakpe standard gauge rail line, which connects Ujevwu in Delta State to Itakpe in Kogi State, is a key transport link for both passengers and freight. It serves as a critical component of Nigeria’s rail modernization agenda, aimed at boosting connectivity…
Author: Temitope Nlewemchi
Nigeria’s Minister of Solid Minerals Development, Dele Alake, has reiterated that Africa, with its vast mineral wealth and growing infrastructure needs, remains the world’s greatest destination for mining investments. Speaking at a recent international mining conference, Alake noted that the continent possesses abundant deposits of critical minerals needed for the global energy transition, and Nigeria is strategically positioned to benefit from the rising demand. He explained that Africa’s vast resources—including lithium, cobalt, gold, iron ore, and rare earth elements—are increasingly attracting the attention of global investors, particularly as the world accelerates toward cleaner energy and advanced technology production. According to…
Nigeria’s foreign reserves have reached a level that could finance up to 10 months of the nation’s import bill, according to the latest data from the Central Bank of Nigeria (CBN). The reserves, which currently stand above $37 billion, have been boosted by improved crude oil receipts, tighter monetary policies, and increased foreign portfolio inflows triggered by ongoing economic reforms. CBN officials noted that the steady accretion in reserves over the past months is largely due to a rebound in global oil prices, enhanced production, and increased remittances from Nigerians in the diaspora. Recent figures from the Nigerian Upstream Petroleum…
A recent mid-year performance assessment by PricewaterhouseCoopers (PwC) has revealed that only about 36 percent of Nigeria’s targeted 15 million households have benefitted from the federal government’s conditional cash transfer programme. This scheme, launched as part of the Renewed Hope Agenda, was designed to cushion the impact of economic reforms such as subsidy removal and foreign exchange liberalisation. However, the latest findings highlight deep implementation gaps and structural bottlenecks that have slowed its full rollout. According to PwC’s report, just 5.6 million households received at least one payment between the programme’s commencement and mid-2025. Out of this number, only 2.4…
The African Export-Import Bank (Afreximbank) has reaffirmed its commitment to expanding financing support for new energy projects across Africa, aiming to accelerate the continent’s transition towards cleaner and sustainable energy systems. The move comes as global energy dynamics shift toward low-carbon solutions, with African economies seeking to diversify their energy mix while addressing infrastructure gaps and energy poverty. Speaking recently on the initiative, Afreximbank executives noted that the bank is working closely with African governments, private sector players, and international partners to facilitate investments in renewable energy, energy storage, and other emerging technologies. The bank’s strategy is focused on providing…
The Nigerian Meteorological Agency (NiMet) has forecast significant thunderstorms and rainfall across various parts of the country between Friday and Sunday, urging residents and relevant agencies to take precautionary measures against potential weather-related disruptions. In its latest weather outlook, NiMet indicated that the weather systems will affect several states across the North, Central, and Southern regions, driven by increased moisture influx and atmospheric instability. According to the agency, parts of the North including Sokoto, Kano, Katsina, Kebbi, and Zamfara are expected to experience thunderstorms beginning on Friday, which could extend into the weekend. The Central region comprising Abuja, Niger, Plateau,…
After weeks of tension that stalled a major power transmission line project in northern Nigeria, the Transmission Company of Nigeria (TCN) and Kano State Government have reached a comprehensive agreement to jointly move forward with the stalled infrastructure initiative. This resolution marks a turning point in efforts to bolster electricity delivery for millions of households and businesses in the Kano region. The dispute began when the power project—designed to carry electricity from the national grid to underserved areas across Kano State—ran into bureaucratic obstacles and disagreements over right-of-way, compensation for affected communities, and coordination between federal and state stakeholders. When…
The much-anticipated Gateway International Agro-Cargo Airport in Ogun State is officially set to begin operations on October 7, marking a significant milestone in Nigeria’s aviation and transportation sector. The inaugural flights will be operated by Nigerian carrier ValueJet, which has confirmed it will begin with a twice-weekly service connecting the new facility to major domestic routes. Ogun State Governor Dapo Abiodun disclosed the development while speaking on the state’s progress in positioning itself as a major aviation and logistics hub. According to him, the airport is not just a transportation project but also a cornerstone for agricultural, industrial, and economic…
Fuel marketers and industry stakeholders are experiencing mounting difficulties as the shutdown of the Port Harcourt Refinery drags on, leaving many without access to refined petroleum products and deepening financial strain across the downstream oil sector. Though officially labeled as a routine maintenance exercise, sources within the host communities and petroleum product retail associations have described the ongoing refinery shutdown as a cover for deeper issues, including a lack of crude oil supply to the facility. According to them, the Port Harcourt Refinery had already ceased operations weeks before the formal announcement of maintenance due to an alleged scarcity of…
In a startling operation, the National Drug Law Enforcement Agency (NDLEA) has arrested a Chinese national and an 80‑year‑old grandmother following the seizure of unusual parcels of colos—a potent ammunition-like commodity—concealed within commercially packaged moi‑moi sachets. The incident, which has triggered fresh concerns over creative smuggling tactics, occurred recently at a major border checkpoint in Nigeria’s south-south region. NDLEA sources explain that the corps uncovered a complex smuggling method involving food packaging. The colos—small, widely misused cannons typically used in celebratory shots or sometimes in illicit circulating weapons—were reportedly wrapped in plastics and sealed into legitimate looking moi‑moi packets. The…
The Central Bank of Nigeria (CBN) has raised fresh concerns over the growing abuse of the naira, warning that the trend is inflating the cost of currency printing and undermining the integrity of the nation’s legal tender. The apex bank emphasized that careless handling, mutilation, spraying at parties, and hawking of banknotes are driving up expenses in maintaining the quality of Nigeria’s currency, while also eroding public confidence in its use. The warning comes at a time when the country is grappling with fiscal pressures, with the cost of printing new banknotes steadily increasing due to inflation and foreign exchange…
The European Union has pledged €500,000 in humanitarian assistance to support internally displaced persons (IDPs) in Benue State, marking a significant boost to relief efforts amid escalating displacement and insecurity in the region. The announcement comes amid worsening clashes between herders and farmers in parts of central Nigeria, driven largely by changing land use patterns, resource competition, and sporadic political unrest. Tens of thousands of residents have fled their homes in rural communities, often under extreme hardship. The EU’s funding is aimed at alleviating the most pressing needs in hard-hit areas, including shelter, healthcare, and food security. The €500,000 package…
The Nigerian passport has climbed to the 88th position in the 2025 Henley Passport Index rankings — its most favourable global standing in over a decade. The recent improvement reflects modest but steady gains in visa-free access enjoyed by Nigerian passport holders, offering more international mobility than at any point since 2014. According to the index, Nigerian passport holders now have visa-free or visa-on-arrival access to approximately 70 countries, a milestone attributed partly to enhanced diplomatic relations, strengthened passport security features, and concerted international lobbying. Analysts say this represents a modest expanded value compared to just 55 accessible destinations as…
Shareholders of The Tourist Company of Nigeria (TCN) Plc have given their nod to a new board of directors at the company’s recent Annual General Meeting, while issuing strong calls for immediate and far-reaching reforms to reposition the firm for better performance and profitability. At the meeting, which attracted a cross-section of stakeholders, shareholders ratified the appointment of Mrs. Erejuwa Gbadebo as the new chairperson of the board. Also confirmed were Ms. Anita Athena Ibru, Mr. Kofi Joseph Duncan, and Mr. Andy Akporugo as non-executive directors. The re-election of Mr. Toke Alex Ibru as a non-executive director was also approved…
The Federal Government of Nigeria has partnered with the World Bank to implement a $500 million programme aimed at human capital reforms, targeting improvements in education, health, and workforce development across the country. The initiative underscores the government’s commitment to strengthening Nigeria’s human capital base, boosting productivity, and enhancing socio-economic outcomes. Under the partnership, the programme will focus on critical interventions in education and skills development, including improving access to quality schooling, teacher training, and vocational education. By addressing gaps in learning outcomes and skill acquisition, the project aims to prepare a new generation of Nigerians for the demands of…
The Nigerian equities market recorded a strong performance as total market capitalisation increased by N578 billion, reflecting renewed investor confidence and sustained buying interest in selected stocks. The rally was driven largely by gains in heavyweight banking, industrial and consumer goods stocks, as investors repositioned portfolios amid evolving macroeconomic conditions. At the close of trading, the market capitalisation of listed equities on the Nigerian Exchange rose significantly, pushing the total value of the market closer to the N60 trillion mark. The All-Share Index also advanced, underscoring broad-based optimism despite lingering concerns over inflation, interest rates and currency pressures. Market analysts…
The Nigerian Electricity Regulatory Commission (NERC) has disclosed that a total of 148,077 electricity consumers across the country were metered within May and June 2025, as part of ongoing efforts to close the country’s huge metering gap and improve transparency in electricity billing. The report comes amid rising public concern over estimated billing, which continues to generate complaints among unmetered customers. According to NERC’s latest statistics, the new installations bring the number of metered customers closer to the commission’s target under the Meter Asset Provider (MAP) and National Mass Metering Programme (NMMP). Despite progress, however, millions of households and businesses…
Oil marketers have reiterated that the Dangote Petroleum Refinery, despite its massive capacity and strategic importance, cannot single-handedly meet Nigeria’s fuel demand, stressing the need for sustained fuel imports and contributions from other domestic refineries to guarantee energy security and price stability. Industry operators under the umbrella of major and independent marketers said while the Dangote refinery represents a major milestone in Nigeria’s quest for fuel self-sufficiency, the country’s daily petrol consumption and logistics realities make it impractical to rely on one refinery alone. They argued that Nigeria requires a mix of local refining capacity and controlled imports to ensure…
Nigeria’s logistics industry is facing a significant productivity crisis, with low asset utilisation emerging as a key bottleneck hindering growth and efficiency. According to the Chief Executive Officer of Haul247, Nigeria’s leading digital logistics platform, the idle time of trucks and other transport assets is driving up operational costs, limiting service delivery, and eroding competitiveness across the value chain. At a recent industry roundtable, Haul247’s CEO highlighted how the current mismatch between demand and capacity has left a large portion of the nation’s fleet underutilised. In many cases, transport vehicles sit idle for days—or even weeks—awaiting cargo assignments or clearance…
Nigeria’s real estate sector is experiencing a slowdown in demand as spiraling inflation and rising interest rates continue to erode the purchasing power of potential homebuyers and investors. Real estate developers, agents, and analysts have expressed growing concern over the declining activity in property transactions, warning that if economic conditions persist, the sector may face deeper challenges in the months ahead. Speaking with journalists and at recent industry forums, operators noted that the steep cost of living — driven by inflation now at multi-decade highs — has significantly affected disposable incomes, reducing the ability of Nigerians to invest in homes,…