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President Bola Tinubu is one year in office today. It is a milestone that evokes serious reflections, given the electoral promises of every occupant of that office and the country’s existential challenges that need to be tackled. A juxtaposition of the two extremes in one year of this administration leaves no one in doubt of a chasm that is apparently galling. The administration has noticed this incongruity, gauged the public mood and decided to make the anniversary low-key – a revelation the Minister of Information, Mohammed Idris, made. As Tinubu marks one year in office, what may easily and cynically…
Nigeria’s democracy clocks a quarter-century today, a long time for a country only five scores and 10. How should we take stock? There is something to cheer about, no doubt, but on the whole, these have been 25 years of missed opportunities and what could have been. That Nigeria has remained one indivisible nation, despite the centrifugal forces unleashed by conflicting ethno-religious and regional cleavages, is certainly something to cheer. A stretch of 25 long years of unbroken and uninterrupted democracy in Nigeria is surely something to cheer about, too, whatever its many imperfections. Constitutional development has been slow and…
The naira depreciated in the parallel segment of the foreign exchange (FX) market on Monday. At the Lagos street market, currency traders, known as bureau de change (BDC) operators, quoted the naira at N1,520 to the dollar. The traders set the buying price at N1,490 and the selling price at N1,520, resulting in a profit margin of N30. This marks a decline of N10 or 0.66 percent from the N1,510/$ traded on May 24. Conversely, in the official market, the naira appreciated by 9.6 percent or N143, reaching N1,339.33/$ on Monday from N1,482.81/$ on May 24. According to FMDQ Exchange,…
The Federal Government has asked the Supreme Court to nullify the actions of 36 states accused of withholding local government funds. The lawsuit, filed by Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, seeks to prevent state governments from disbanding elected local government chairmen and replacing them with caretaker committees. The suit, dated May 20, 2024, calls for a declaration that, under Section 162(5) of the Nigerian Constitution, 1999, state governments are merely agents of local governments in collecting funds from the federation account. These funds, once received, must be paid directly into the state joint local government…
The last 48 hours have seen series of drama and intrigues playing out in Kano and Abuja over who finally takes the coveted throne as Emir of Kano between Muhammadu Sanusi II and Aminu Ado Bayero. Since Governor Abba Yusuf signed the Kano State Emirates Council (Amendment Number 2) Bill 2024 on Thursday and reinstated Sanusi, there has been tension in Kano State. It was gathered that the state government had planned for Sanusi to move to the Gidan Rumfa Palace on Saturday, but upon getting wind of Bayero’s arrival in the city in the wee hours of yesterday, the…
Nigeria’s economy grew at a slower than expected rate in the first quarter as a sharp currency slump and adverse weather impacted the non-oil sector. Gross domestic product expanded an annual 2.98% in the three months through March, compared with growth of 3.46% in the previous quarter, according to data released by the National Bureau of Statistics on Friday. The median estimate of eight economists in a Bloomberg survey was 3.5%. Key contributors to the slower-than-expected growth were agriculture, due to bad weather and insecurity, and manufacturing where profits have been knocked by an almost 70% slump in the naira…
No fewer than 200 officials of the Central Bank of Nigeria were on Friday relieved of their duties, adding to the long list of ongoing disengagements in the apex bank. This adds to the list of 117 staff sacked by the bank between March 15th and April 11, 2024. The termination of appointments affects directors, deputy directors, assistant directors, principal managers, senior managers and lower-ranking staff. Impeccable sources who are staff of the bank confirmed the sacking to our correspondent on Friday, adding that the sacked personnel were more than 200. They revealed that the latest purge included older directors…
Amid increasing poverty and hunger, Nigerians are grappling with skyrocketing prices of essential food items such as beef, rice, beans, white garri, and yam. The National Bureau of Statistics (NBS) revealed these alarming trends in its latest report titled ‘Selected Food Prices Watch (April 2024).’ The report highlights significant month-on-month and year-on-year price increases. In April, the average price of 1 kilogram (kg) of local rice reached N1,399.34, reflecting a 3.47 percent increase from March and a staggering 155.93 percent rise from April 2023, when the price was N546.76. Similarly, the average price of 1kg of white garri soared by…
Sultan of Sokoto, Muhammadu Sa’ad Abubakar, has expressed deep concern over the growing frustration among Nigerians due to escalating poverty and hunger, urging political leaders to fulfill their duties in improving the populace's living standards. Addressing the Federal Government, the Sultan emphasized that the current socio-economic conditions are extremely challenging, and political office holders must acknowledge and address this reality. Speaking at the first quarterly meeting of the Nigeria Inter-Religious Council (NIREC) in Abuja, the Sultan highlighted the severe impact of poverty and hunger, noting that desperation has driven some individuals to commit serious crimes for meager sums. “Nigeria has…
In the first quarter (Q1) of 2024, foreign portfolio investment (FPI) outflows from Nigeria skyrocketed by 237% compared to the same period in 2023. Data from the Nigerian Exchange (NGX) research department revealed that foreign portfolio outflows reached N119.81 billion in Q1 2024, a significant increase from the N35.59 billion recorded in Q1 2023. This surge reflects the market's reaction to recent policy changes by the Central Bank of Nigeria (CBN). Despite the substantial outflows, foreign portfolio inflows also saw a dramatic rise. In Q1 2024, inflows were N93.37 billion, more than five times the N18.12 billion recorded in Q1…
March 15, 2025

Dangote Refinery further reduces petrol loading price amidst fresh crude supply from NNPCL

In a significant development in Nigeria's downstream oil sector, the Dangote Petroleum Refinery has further…
March 14, 2025

I know individuals in Tinubu’s govt who bought ministerial positions, El-Rufai claims

Former Kaduna State governor, Nasir El-Rufai, has revealed that he knows individuals who paid to…
March 14, 2025

How leaders train themselves to rethink and adapt faster

Paola Cecchi-Dimeglio Recognizing the value of rethinking is one thing—making it a habit is another.…
March 01, 2025

Man offers to split $525,000 jackpot with thieves who stole his credit card to buy…

A Frenchman appealed to the homeless thieves who stole his credit card to buy a…
March 14, 2025

Gunmen invade Kaduna communities, abduct 10

Suspected bandits have abducted ten villagers from three remote communities in Kajuru Local Government Area…
March 15, 2025

What to know after Day 1115 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Putin urges Kiev to order troops in Kursk Region to surrender Moscow is…
March 15, 2025

Humanoid robot with human-like competence unveiled in China

Du Qiongfang Humanoid robot manufacturer AgiBot in Shanghai unveiled on Tuesday its latest humanoid robot…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

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