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Sunday, 01 June 2025 04:31

‘Be patient with me’, Tinubu pleads with Nigerians amid harsh economic struggles

President Bola Tinubu has once again appealed to Nigerians to remain patient with his administration, even as millions continue to grapple with severe economic hardship caused by his government’s policies, including the removal of fuel subsidies and the floating of the naira. Speaking on Saturday at the inauguration of the completed Phase 1, Section 1 (30km) of the 750km Lagos-Calabar Coastal Highway, Tinubu acknowledged the difficulties faced by citizens but urged them to trust in his economic reforms. “I know at this stage, your expectations are still very high, and our people are still going through difficult times,” he said.…

Saturday, 31 May 2025 04:32

Moody's upgrades Nigeria's rating to 'B3' on improved external and fiscal positions

Credit ratings agency Moody's upgraded Nigeria's rating by a notch to "B3" from "Caa1" on Friday, citing significant improvements in the country's external and fiscal positions. Earlier this month, the World Bank said that Nigeria's economy achieved its fastest growth in about a decade in 2024, driven by a strong fourth quarter and an improved fiscal position. However, it warned that persistently high inflation remains a challenge. "The recent overhaul of Nigeria's foreign exchange management framework ... has markedly improved the balance of payments and bolstered the CBN's (Central Bank of Nigeria) foreign exchange reserves," Moody's said in a statement.…

Saturday, 31 May 2025 04:31

Death toll from Niger State flooding reaches 117 as rescue operations continue

The death toll from devastating floods in Niger state has risen sharply to 117 people, with several others still missing after torrential rains destroyed thousands of homes, emergency officials announced Friday. The floods struck on Wednesday night and continued into Thursday morning, submerging more than 3,000 houses in the Tiffin Maza and Anguwan Hausawa communities in Mokwa Local Government Area. Ibrahim Hussaini, head of the Niger State Emergency Management Agency, reported the dramatic increase from Thursday's count of 21 deaths as search and rescue operations intensified. "A number of people are still in the water," Hussaini said, highlighting the ongoing…

Friday, 30 May 2025 04:48

Sidi Ould Tah elected President of AfDB as Akinwumi Adesina concludes tenure

Sidi Ould Tah of Mauritania has been elected the new President of the African Development Bank (AfDB) Group, succeeding Nigeria’s Akinwumi Adesina, who has led the institution since 2015. According to a statement released by the AfDB, Tah was elected on Thursday during the Bank’s Annual Meetings held in Abidjan, Côte d’Ivoire. He will officially assume office as the Bank’s 9th president on September 1, 2025. The election was conducted by the AfDB’s Board of Governors, which consists of finance ministers, economy ministers, or central bank governors representing the Bank’s 81 regional and non-regional member countries. Niale Kaba, Côte d’Ivoire’s…

Thursday, 29 May 2025 04:45

African literary giant Ngügĩ wa Thiong’o is dead

Renowned Kenyan author and academic Ngügĩ wa Thiong’o died on Wednesday at 87. On Wednesday evening, his daughter, Wanjiku Wa Ngugi, posted on Facebook that the novelist had passed. She wrote: “It is with a heavy heart that we announce the passing of our dad, Ngügĩ wa Thiong’o, this Wednesday morning, 28th May 2025.” She spoke about her father’s legacy and last wish: “He lived a full life and fought a good fight. As was his last wish, let’s celebrate his life and work. Ria ratha na ria thua. Turi aira” She further hinted that the family’s spokesperson, Nducu Wa…

Wednesday, 28 May 2025 04:51

Tinubu seeks to borrow a whopping $21.5bn. Here are the alarming implications for Nigeria and its future

Nigeria faces an unprecedented debt crisis as President Bola Tinubu pushes for another massive borrowing binge, requesting Senate approval for a staggering $21.5 billion in new external loans alongside N758 billion in domestic bonds. This alarming development threatens to push Africa's largest economy deeper into a dangerous debt spiral that could cripple future generations. The president's latest borrowing requests, presented to the Senate on Tuesday through letters read by Senate President Godswill Akpabio, represent a continuation of what economists are calling a reckless fiscal trajectory that has already seen Nigeria's debt burden explode under Tinubu's administration. A Debt Explosion Under…

Wednesday, 28 May 2025 04:49

Why Saudi authorities deported Gumi – Official

Fresh details have emerged indicating that prominent Islamic cleric, Ahmad Gumi, was aware of the entry restriction imposed on him by Saudi Arabian authorities before he embarked on the 2025 Hajj pilgrimage. The Cleric had on Monday claimed in a public statement on his official Facebook page titled “My Hajj 2025!” that he was turned back at the Medina airport on Saturday despite holding a valid visa. However, an official at the National Hajj Commission of Nigeria (NAHCON), who spoke on the condition of anonymity, explained to The Guardian on Tuesday that Gumi had “since been banned from entry into…

Tuesday, 27 May 2025 03:55

Trump's criticism of South Africa's violent crime crisis receives unexpected local support

South Africans welcomed President Donald Trump's highly critical Oval Office statements Wednesday about killings in the country, according to analysts. The President showed video clips and gave South Africa’s President Cyril Ramaphosa a sheaf of news clippings he said show farm murders. Many believe this "ambush" by President Trump toward the South African leader is good for the country, because it throws a sharp light on the darkness that is the high level of killings in the country, and how President Ramaphosa’s government is said to be failing to adequately tackle it. Approximately 6,953 people of all races were murdered…

Saturday, 24 May 2025 04:37

Supreme Court dismisses 36 governors’ suit over N1.8trn recovered funds

The Supreme Court has dismissed a suit filed by the 36 state governments and the Nigeria Governors’ Forum (NGF) challenging the Federal Government’s handling of over N1.8 trillion in recovered looted assets. In a unanimous decision delivered on Friday by Mohammed Idris, based on a lead judgment prepared by Chidiebere Uwa, the apex court ruled that it lacked jurisdiction to entertain the matter, which properly belongs before the Federal High Court. The suit, marked SC/CV/395/2021, was filed in 2021 and alleged that between 2015 and 2021, the Federal Government recovered looted assets totaling N1,836,906,543,658.73 in cash, alongside 167 properties, 450…

Friday, 23 May 2025 04:31

52,000 Nigerians migrated to UK for work, studies in 2024 – Report

New statistics from the UK Office for National Statistics reveal that Nigeria maintained its position as a major contributor to British immigration in 2024, with approximately 52,000 Nigerian nationals relocating to the country throughout the year. The figures come amid a dramatic reduction in overall UK net migration, which plummeted by nearly half to 431,000 in the year ending December 2024, down from 860,000 the previous year—representing a decline of almost 50 percent. Work and Study Drive Nigerian Migration The data shows that Nigerian immigrants primarily arrived for employment and educational opportunities. Work-related visas accounted for 27,000 arrivals, while 22,000…

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Thursday, 22 May 2025 04:44

N’assembly padded 2025 budget with projects worth N6.9trn - BudgIT

BudgIT, a civic tech non-profit organisation, has uncovered 11,122 projects valued at N6.93 trillion inserted by the national assembly into the budget. The organisation, in a statement posted on its social media platform on Tuesday, said the practice, which began as an “isolated irregularities has, over the years, evolved into a deeply entrenched culture of exploitation and abuse by top-ranking members of the national assembly”. On February 28, the president signed the N54.99 trillion 2025 appropriation bill into law, marking a 99.96 percent increase from the 2024 budget of N27.5 trillion. The national assembly approved the bill on February 13,…

Wednesday, 21 May 2025 01:40

CBN maintains interest rate at 27.5% amid inflation concerns

Nigeria's Central Bank has unanimously decided to keep its benchmark interest rate unchanged at 27.50% for the second consecutive time, as announced by Governor Olayemi Cardoso following the Monetary Policy Committee's (MPC) 300th meeting in Abuja on Tuesday. The decision maintains current monetary policy settings after six rate hikes implemented last year. The committee also retained the cash reserve ratio at 50% and liquidity ratio at 30%. Cardoso cited "relative improvements in key macroeconomic indicators" that should support moderation in prices in the medium term. These positive indicators include a narrowing gap between official foreign exchange and bureau de change…

Wednesday, 21 May 2025 01:40

Seven inmates escape Osun prison after rainfall destroyed perimeter wall

Seven inmates have escaped from the Medium Security Custodial Centre in Ilesa, Osun State, following the collapse of the prison fence during heavy rainfall in the early hours of Tuesday. According to Abubakar Umar, spokesperson for the Nigerian Correctional Service (NCoS), the escape occurred around 2 a.m. after the downpour damaged the facility’s perimeter wall. A manhunt for the escapees has since been launched. The Controller General of the NCoS, Sylvester Nwakuche, has ordered an immediate investigation into the incident and directed the reinforcement of the prison’s security. “We are working closely with other security agencies and local community leaders…

Tuesday, 20 May 2025 04:38

Vatican security blocks Seyi as Tinubu shakes hands with Pope

President Bola Tinubu’s first son, Seyi, was in his entourage to the inauguration of Pope Leo XIV, on Sunday. Daily Trust had reported different highlights of the event, including the president’s encounter with Peter Obi, one of his major rivals in the 2023 elections. Obi, who came third in the election, defeated Tinubu in Lagos, the president’s stronghold since democracy returned to Nigeria in 1999. However, one highlight of the trip to Vatican City was the encounter that Tinubu’s son, who wields a major influence back home, had with the Pope’s security team. In a video making rounds online, Seyi…

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