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Thursday, 17 April 2025 04:32

FAAC: FG, states, LGs share N1.6trn for March

The Federation Account Allocation Committee (FAAC) distributed N1.578 trillion among the Federal Government, states and Local Government Councils (LGCs) for March, 2025. A communiqué issued by Bawa Mokwa, Director of Press and Public Relations at the Office of the Accountant-General of the Federation (OAGF), detailed the revenue sharing at April's FAAC meeting in Abuja. The N1.578 trillion revenue comprised N931.325 billion in statutory revenue, N593.750 billion from Value Added Tax (VAT), N24.971 billion from Electronic Money Transfer Levy (EMTL), and N28.711 billion from Exchange Difference revenue. Total gross revenue available in March was N2.411 trillion. After deductions of N85.376 billion…

Wednesday, 16 April 2025 03:37

Nigeria’s inflation climbed to 24.23% in March as economic crisis deepens

Nigeria's annual inflation rate rose to 24.23 percent in March from 23.18 percent in February 2025, according to data released Tuesday by the National Bureau of Statistics (NBS). The March headline inflation rate showed a concerning increase of 1.05 percentage points compared to February figures. On a month-on-month basis, headline inflation in March reached 3.90 percent, a significant jump from February's 2.04 percent. This indicates that the rate at which average prices are increasing accelerated substantially in March compared to the previous month. The NBS report highlighted that food inflation—a critical indicator affecting most Nigerian households—stood at 21.79 percent year-on-year…

Wednesday, 16 April 2025 03:36

Nigeria’s external debt service to hit $5.2bn in 2025 - Fitch

Fitch, a global rating agency, has projected that Nigeria’s external debt service bill will increase to $5.2 billion this year. According to the Debt Management Office (DMO), Nigeria’s external debt service was $1.07 billion as at December 2024. In its rating commentary on Nigeria, published on April 11, the credit rating firm said the service bill would rise further in 2025. “Government external debt service is moderate but expected to rise to USD5.2 billion in 2025 (with USD4.5 billion of amortisations, including a USD1.1 billion Eurobond repayment due in November 2025), from USD4.7 billion in 2024, and fall to USD3.5…

Wednesday, 16 April 2025 03:35

FG declares public holidays for Easter celebrations

The Federal Government has announced Friday, April 18, and Monday, April 21, as public holidays in observance of Good Friday and Easter Monday. The declaration was made by the Minister of Interior, Olubunmi Tunji-Ojo, in a statement issued on Wednesday by the ministry’s Permanent Secretary, Magdalene Ajani. Tunji-Ojo extended his felicitations to Christians nationwide, urging them to reflect on the significance of Easter, which embodies the virtues of love, sacrifice, and redemption exemplified by Jesus Christ’s death and resurrection. He called on Nigerians to use the occasion to pray for the nation’s peace, unity, and sustained progress. Additionally, the minister…

Wednesday, 16 April 2025 03:33

Defend yourselves against killers, Plateau gov tells communities after fresh attacks

Plateau State Governor Caleb Mutfwang has called for communal self-defense following a wave of deadly attacks by suspected armed herders, which have left over 100 people dead in Bassa Local Government Area in recent weeks. The latest assault occurred early Monday in Zike and Kimakpa communities of Kwall District, Irigwe Chiefdom, where gunmen killed at least 50 people and razed homes. Governor Mutfwang, who visited the affected areas on Tuesday, lamented that insecurity has stifled development in the state. "We invested heavily in security technology upon assuming office, yet terrorism and insurgency continue to slow our progress," Mutfwang said. "Our…

Tuesday, 15 April 2025 04:59

Nigeria implements key AfCFTA trade agreement, eliminating tariffs on 90% of African goods

Nigeria has officially submitted its ECOWAS schedule of tariff offers to the African Continental Free Trade Area (AfCFTA) secretariat, marking a significant step in the country's participation in continental trade integration. The newly gazetted trade commitment establishes zero-duty access for 90 percent of goods traded within Africa, a move that provides clarity and certainty for businesses engaging in cross-border commerce throughout the continent. Industry, Trade and Investment Minister Jumoke Oduwole announced the development Monday on social media, confirming that Nigeria submitted the signed ECOWAS tariff offer during the AfCFTA ministerial meeting in Kinshasa. "As Nigeria commences its implementation review of…

Monday, 14 April 2025 03:51

US court orders FBI, DEA to release Tinubu investigation files; Presidency downplays ruling

A United States District Court has ordered major US law enforcement agencies, including the FBI and the Drug Enforcement Administration (DEA), to release documents relating to a decades-old investigation into Nigerian President Bola Tinubu. Judge Beryl Howell of the District Court for the District of Columbia issued the ruling, stating that the agencies’ refusal to confirm or deny the existence of such records—known as a “Glomar response”—was “neither logical nor plausible,” particularly given the public disclosures already made over the years. The ruling follows a lawsuit filed in June 2023 by American transparency advocate Aaron Greenspan under the Freedom of…

Monday, 14 April 2025 03:48

Labour leaders accuse FG of worker exploitation, petition ILO and UN

Two prominent labour leaders, Andrew Emelieze and Itoro Obong, have petitioned the International Labour Organisation (ILO) and the United Nations (UN), accusing President Bola Tinubu’s administration of exploiting Nigerian workers. Emelieze, a former Chairman of the Trade Union Congress (TUC) in Oyo State, and Obong, Vice Chairman of the Association of Hospital and Administrative Pharmacists of Nigeria (Akwa Ibom chapter), jointly submitted the complaint under the Federal Workers’ Forum (FWF). In the petition, they announced plans to stage an indefinite nationwide protest starting April 22, 2025, over what they described as the Nigerian government’s unfair treatment of workers. The labour…

Sunday, 13 April 2025 04:37

FG announces fall in oil production for March 2025

According to data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria's crude oil production declined to 1,400,783 barrels per day (bpd) in March, marking the lowest output since January. The figures reveal a 4.38% decrease from February's production of 1,465,006 bpd, representing a reduction of 64,223 bpd. When condensate is included, total production dropped to 1.603 million bpd in March from 1.671 million bpd in February. Despite the decrease, the NUPRC noted that March's average crude oil production achieved 93% of Nigeria's 1.5 million bpd quota allocated by the Organisation of Petroleum Exporting Countries (OPEC). Production levels fluctuated…

Friday, 11 April 2025 00:31

NBC bans Eedris Abdulkareem’s protest song as Tinubu govt intensifies crackdown on dissent

In yet another move critics see as part of a broader campaign against dissent, the National Broadcasting Commission (NBC) has banned the protest song “Tell Your Papa” by veteran rapper Eedris Abdulkareem from being aired on radio and television. The directive, contained in an April 9, 2025 memo signed by Susan Obi, the NBC’s Coordinating Director of Broadcast Monitoring, cites Section 3.1.8 of the Nigeria Broadcasting Code, which prohibits content considered “inappropriate, offensive, or in breach of public decency.” The Commission labeled the song “objectionable” and declared it “Not To Be Broadcast” (NTBB), urging stations nationwide to refrain from airing…

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Thursday, 10 April 2025 04:33

‘Bandits have taken over 64 communities, living on lands they pushed people away to occupy’, Plateau gov cries out

Plateau State Governor Caleb Muftwang has described the recent wave of violence across the state as a “sponsored genocide” aimed at wiping out entire communities, alleging that armed bandits have seized control of at least 64 villages. Speaking on Politics Today, a Channels Television programme on Tuesday, Muftwang expressed deep concern over the sustained attacks that have claimed over 50 lives and displaced thousands in the Bokkos Local Government Area and beyond. “I can tell you in all honesty that I cannot find any explanation other than genocide sponsored by terrorists,” the governor said. “The question is, who are the…

Thursday, 10 April 2025 04:30

Nigeria records $6.83bn balance of payments surplus for 2024, remittances hit $20.93bn

The Central Bank of Nigeria (CBN) has announced a significant balance of payments surplus of $6.83 billion for the 2024 financial year, marking a remarkable turnaround from deficits of $3.34 billion and $3.32 billion recorded in 2023 and 2022, respectively. According to a statement issued on Wednesday by the CBN's Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, this improvement reflects the impact of wide-ranging macroeconomic reforms, stronger trade performance, and renewed investor confidence in Nigeria's economy. The current and capital accounts recorded a surplus of $17.22 billion, underpinned by a goods trade surplus of $13.17 billion. On the export…

Tuesday, 08 April 2025 04:54

Police disrupt nationwide protests as activists defy crackdown, demand repeal of Cyber Crime Act

Security forces on Monday violently dispersed protesters across Nigeria as the Take-It-Back Movement staged nationwide demonstrations against the declaration of a state of emergency in Rivers State, the alleged misuse of the Cyber Crime Act, and worsening economic hardship. The crackdown, which saw police firing tear gas, deploying helicopters for aerial surveillance, and arresting activists, drew sharp condemnation from rights groups, including Amnesty International. In Abuja, armed officers disrupted the protest early in the morning, arresting at least two demonstrators—identified as Flagboy and Abosede — while journalists and bystanders were caught in the chaos. Prominent activist and former presidential candidate…

Monday, 07 April 2025 18:54

Akinola, others announce annual conference of key Christian leaders, weigh in on burning national issues

Rhema Christian Church & Towers, Sango-Ota

The Christ Global Network (CGN) has officially announced the 2025 edition of its flagship revival event, the New Wine Fire Conference, during a world press conference held on Monday at Champion Peace Cathedral, Rhema Christian Church & Towers, Sango-Ota. The conference, themed “Show Me Your Glory” (Exodus 33:18-19), is scheduled for Saturday, April 12, 2025, and is expected to draw thousands of believers from Nigeria and beyond. Archbishop Taiwo Akinola, Founding President of Rhema Christian Church & Towers and Apostolic Presbyter of CGN, addressed members of the press, highlighting both the spiritual significance of the upcoming conference and the urgent…

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