The Nigerian Meteorological Agency (NiMet) has warned of heavy rains, thunderstorms, and an elevated risk of flooding across various parts of the country between Monday and Wednesday, urging citizens, businesses, and relevant authorities to take precautionary measures. The forecast indicates that multiple regions—including the North-Central, South-West, South-East, and some parts of the North-East—are expected to experience intense downpours that could cause significant disruptions to daily life, damage to property, and potential loss of lives if safety guidelines are ignored. According to NiMet’s latest bulletin, the heavy rainfall will be accompanied by strong winds and lightning, which could result in hazardous…
Author: Temitope N.
The Federal Capital Territory Administration (FCTA) has carried out a clearance operation to remove illegal occupants, roadside traders, and makeshift structures around the UTC area in Abuja, in a renewed effort to restore order, enhance security, and improve the city’s environmental standards. The exercise, which took place under the supervision of the FCTA Department of Development Control and other relevant agencies, targeted shanties, kiosks, and unapproved stalls that had sprung up over time in violation of Abuja’s urban planning regulations. Officials said the operation was necessary due to the rising concerns over congestion, sanitation, and security risks posed by the…
The Federal Government has announced the disbursement of ₦5.12 billion to settle pension arrears owed to 90,689 retirees under the Defined Benefit Scheme (DBS), marking a significant step towards fulfilling long-standing obligations to senior citizens who served the nation before the introduction of the Contributory Pension Scheme in 2004. The payment, coordinated by the Pension Transitional Arrangement Directorate (PTAD), reflects the administration’s commitment to improving the welfare of pensioners in line with President Bola Tinubu’s Renewed Hope Agenda, which prioritises the needs of the elderly and vulnerable groups. According to PTAD’s Executive Secretary, Dr Chioma Ejikeme, the funds cover arrears…
The Nigeria Police Force has announced an extension of the enforcement deadline for the mandatory acquisition of tinted glass permits to October 2, 2025. This decision comes after consultations with stakeholders and in response to growing concerns over the readiness of motorists to comply with the policy. Initially scheduled to commence much earlier, the enforcement shift provides vehicle owners with an extended window to regularize their permits and avoid penalties. The Force Headquarters explained that the extension was designed to ensure fairness, transparency, and an opportunity for citizens to adjust to the policy without undue hardship. According to the police,…
The Nigerian equities market has seen a significant boost in the performance of the banking and consumer goods indices, with both sectors recording gains surpassing the 40% mark in the current trading year. Market analysts attribute this surge to a combination of strong corporate earnings, positive investor sentiment, and favourable policy moves that have bolstered confidence in these sectors. The banking index’s impressive climb is largely linked to stronger-than-expected half-year financial results from several tier-one and tier-two lenders. Increased interest income, improved asset quality, and strategic cost-cutting measures have combined to enhance profitability across the sector. Analysts also highlight that…
The UBA Foundation, the corporate social responsibility arm of United Bank for Africa Plc, has reaffirmed its commitment to community development by reaching out to vulnerable residents in Lagos through a targeted outreach programme. The initiative, which took place over the weekend, provided essential supplies and support services to hundreds of individuals, particularly those struggling with economic hardship. In a statement, the Foundation said the outreach was part of its ongoing efforts to uplift underserved communities across Nigeria. The event was held in collaboration with local community leaders, non-governmental organisations, and volunteers, ensuring the aid reached those most in need.…
Heirs Energies, one of Nigeria’s leading integrated energy companies, has announced plans to participate in the upcoming Nigeria Oil and Gas Conference and Exhibition (NOGC), where it will engage stakeholders on strategies to strengthen African leadership in the global energy sector. The event, scheduled to take place in Abuja, will bring together top government officials, industry leaders, investors, and policy experts to discuss the future of oil, gas, and renewable energy in the region. According to a statement from the company, Heirs Energies will focus its contributions at the conference on how African energy players can take a more active…
The Trade Union Congress (TUC) has estimated that Nigeria would require an investment of approximately $120 billion to construct and rehabilitate federal roads across the country. The union stated that this enormous figure underscores the dire state of the nation’s road network and the urgent need for comprehensive intervention to address the infrastructure deficit that continues to hamper economic growth and public safety. Speaking during a press briefing in Abuja, TUC President Festus Osifo highlighted that the country’s road infrastructure had suffered years of neglect, inadequate funding, and poor maintenance culture. He noted that most of the existing federal highways…
The Nigeria Customs Service (NCS) has announced the interception of contraband goods, including a large cache of arms and expired pharmaceutical products, valued at over ₦10 billion. The operation, which officials described as a significant breakthrough in curbing smuggling and safeguarding public health, was carried out following targeted intelligence and coordinated surveillance by customs officers. The Comptroller-General of Customs revealed that the seizures were made at multiple entry points across the country, with a major bust occurring at a border checkpoint where officers discovered concealed firearms alongside ammunition hidden in containers declared as carrying harmless merchandise. The firearms were reportedly…
Fuel marketers, industry stakeholders, and energy analysts have expressed deep frustration with the Nigerian National Petroleum Company Limited (NNPC) over the prolonged and unresolved rehabilitation of the nation’s refineries, accusing the state oil firm of negligence and mismanagement that have continued to undermine the country’s energy security. Despite repeated assurances from the NNPC and the Federal Government about plans to restore the refineries in Port Harcourt, Warri, and Kaduna to full operational capacity, stakeholders say the facilities remain largely idle, forcing Nigeria to depend heavily on imported refined petroleum products. This situation has contributed to persistent fuel price volatility, foreign…
The Dangote Group has taken delivery of a fresh fleet of Compressed Natural Gas (CNG) trucks as part of its drive to expand and modernise fuel distribution across Nigeria. The acquisition is seen as a strategic step to improve logistics efficiency, reduce transportation costs, and support the Federal Government’s push towards cleaner energy alternatives. Sources within the company disclosed that the newly acquired trucks are specially designed for the safe and efficient transportation of CNG, which is gaining attention as a cheaper and more environmentally friendly fuel compared to conventional petrol and diesel. The trucks will be deployed primarily for…
India has resumed large-scale purchases of Nigerian crude oil, even as the Dangote Petroleum Refinery in Lagos has begun importing significant volumes of crude from the United States to feed its operations. The development underscores shifting dynamics in Nigeria’s oil trade, shaped by global market trends, refining capacity challenges, and strategic sourcing decisions. According to industry sources, Indian refiners recently booked several cargoes of Nigeria’s flagship crude grades, including Bonny Light and Qua Iboe, for delivery in the coming months. India, one of the world’s largest oil importers, has traditionally been a strong customer for Nigerian crude due to its…
Several Nigerian states are grappling with a steep rise in their external debt servicing obligations, with new figures indicating a 68 percent surge in foreign debt payments. The increase, attributed to currency depreciation, higher interest rates on external loans, and lingering economic pressures, has intensified fiscal strains on subnational governments already battling revenue shortfalls. According to data from official financial reports, the rise in debt servicing costs means states will have to channel more of their limited resources towards meeting foreign obligations, potentially crowding out spending on critical sectors like infrastructure, healthcare, and education. Many states that had previously relied…
A property development firm has unveiled a new 32-unit terrace housing estate in Lagos, marking another significant addition to the city’s growing real estate landscape. The project, according to the developers, is designed to meet the rising demand for modern, secure, and well-planned residential spaces in Nigeria’s commercial capital. The estate, strategically located in a high-demand area of Lagos, is aimed at middle- to upper-income buyers seeking both comfort and investment value. Each unit is designed with contemporary architecture, functional layouts, and high-quality finishing, while also incorporating energy-efficient features to promote sustainable living. Speaking at the launch, the company’s managing…
Nigeria’s manufacturing sector is grappling with escalating operational expenses, as the combined impact of sustained inflation and the weakening naira has pushed production costs to a staggering ₦2.6 trillion. Industry stakeholders warn that unless urgent measures are taken to stabilise the economy, the rising cost of doing business could further erode competitiveness, limit production capacity, and threaten jobs in the sector. According to figures from the Manufacturers Association of Nigeria (MAN), the latest cost burden reflects the steep rise in raw material prices, energy expenses, transportation costs, and imported input bills over the past year. The depreciation of the naira…
The Abuja Chamber of Commerce and Industry (ACCI) has expressed confidence that the Federal Government’s new livestock reforms will significantly enhance Nigeria’s Gross Domestic Product (GDP) by unlocking the full potential of the sector. The Chamber noted that the reforms, aimed at modernising livestock production, improving market access, and addressing security challenges in pastoral communities, could transform the industry into a major driver of economic growth and job creation. In a statement, ACCI President, Dr. Al-Mujtaba Abubakar, commended the government for prioritising livestock development as part of its broader agricultural transformation agenda. He observed that despite Nigeria’s large population of…
The Lagos State Government has intensified its regulatory oversight of e-hailing transportation companies, citing growing concerns over passenger safety and compliance with operational guidelines. Officials from the state’s Ministry of Transportation and the Lagos State Vehicle Inspection Service (VIS) have commenced enforcement actions targeting operators allegedly flouting safety regulations, including requirements on driver verification, vehicle roadworthiness, and emergency response measures. According to the state authorities, the move follows an increase in reported incidents involving e-hailing vehicles, ranging from accidents to security-related cases. The government expressed worry that while e-hailing services have significantly contributed to urban mobility in Lagos, lax compliance…
NIPCO Plc, one of Nigeria’s leading players in the downstream oil and gas sector, has celebrated its long-serving employees in a ceremony that highlighted the company’s commitment to recognising dedication, loyalty, and professionalism. The event, held at the company’s headquarters in Lagos, brought together management, staff, and invited guests to honour employees who have served for more than a decade, with some clocking up to 25 years of continuous service. Speaking at the celebration, the Managing Director of NIPCO, Suresh Kumar, commended the awardees for their unwavering dedication and the critical role they have played in the company’s growth over…
The Minister of Aviation and Aerospace Development, Festus Keyamo, has confirmed that the proposed strike by aviation sector unions has been suspended following a series of engagements between the government and labour representatives. The suspension, according to the minister, was the outcome of constructive dialogue aimed at averting disruptions to flight operations and protecting the nation’s aviation industry from economic and reputational damage. Speaking in Abuja, Keyamo explained that the unions had raised several issues relating to workers’ welfare, operational conditions, and pending agreements with the government. These concerns, he noted, had been the subject of repeated engagements in recent…
The Nigerian Naira experienced mixed trading patterns in the foreign exchange market this week as strong demand for foreign currency continued to shape market sentiment. Traders and analysts observed fluctuations in the exchange rate across official and parallel market segments, reflecting persistent pressure from import demands, capital outflows, and speculative activities. At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira opened the week with a mild appreciation but soon retreated as demand for the United States dollar and other major currencies outpaced supply. Market data showed that the naira briefly strengthened against the greenback in early trading sessions, supported…