Author: Adejuyigbe Adegoke

President Bola Ahmed Tinubu has formally written to the Nigerian Senate seeking approval to borrow $5 billion as part of a broader external financing plan aimed at stabilising the economy and funding national priorities. The request was conveyed in a letter addressed to the President of the Senate, Godswill Akpabio, and read during plenary on Tuesday. In a separate communication to the Senate, the President also requested approval for an additional $1 billion loan facility, bringing the total proposed external borrowing to $6 billion. Structure of the Loan Requests a. $5 Billion Abu Dhabi Facility The primary loan request involves:…

The Nigerian Exchange Limited (NGX), has taken disciplinary action against five brokerage firms for engaging in market manipulation and artificially influencing stock prices, levying total fines of ₦291.29 million and mandating corrective measures to address unethical trading practices. Announced on March 27, 2026, this action represents a key effort to reinforce transparency and integrity in Nigeria’s capital market under the framework of the Investments and Securities Act (ISA) 2025. According to NGX Regulation Limited (RegCo), the sanctions were approved by its board and reported to the Securities and Exchange Commission (SEC), highlighting a shift from passive market oversight to proactive…

The Federal Government of Nigeria has taken a significant step toward strengthening intra-African trade by launching a high-level report titled “Cross-Border Digital Payments and Identity in Nigeria under the AfCFTA.” The initiative is aimed at empowering Micro, Small, and Medium Enterprises (MSMEs), to effectively participate in the $3.5 trillion market created by the African Continental Free Trade Area. The report underscores Nigeria’s ambition to lead Africa’s digital trade transformation while addressing long-standing barriers that hinder seamless cross-border transactions. Background and Context The AfCFTA represents one of the largest free trade zones in the world, designed to promote economic integration across…

In a continued effort to strengthen governance and institutional effectiveness, President Bola Ahmed Tinubu has approved a series of strategic appointments and nominations across key federal agencies. These include leadership changes at the Corporate Affairs Commission (CAC), new nominations for the National Population Commission (NPC), and the confirmation of a Special Adviser on Political Economy. These decisions reflect the administration’s broader agenda of enhancing administrative capacity, improving economic management, and ensuring effective service delivery to Nigerians. Appointment of Chairman, Corporate Affairs Commission (CAC) Profile of the Appointee The President appointed Ibrahim Ida as the new Chairman of the Corporate Affairs…

The buildings and construction sector is one of the most consequential contributors to global greenhouse gas (GHG), emissions — responsible for a significant share of carbon emissions both in operation (energy use), and in construction materials and processes. Despite improvements in efficiency, the sector remains off track to meet global climate targets, with emissions trends showing persistent growth due to urbanisation and expanding building stock. In this context, the Global Buildings Performance Network (GBPN), emerges as a specialised global actor focused on accelerating the decarbonisation of buildings — not just technically, but through policy, markets, and collaborative networks. The Core…

At a glance, the Strait of Hormuz is just a narrow channel of water between Iran’s southern coast and the Arabian Peninsula. But to global economics, security planners, and powers from Washington to Beijing, it is the strategic chokepoint of the 21st century. Roughly 20‑25% of the world’s traded oil and significant volumes of liquefied natural gas (LNG), transit this strait daily — a lifeline for Asia, Europe, and Africa alike. Yet what makes this waterway so strategically potent isn’t just what flows through it — it is who controls it. Geographic Advantage: Iran’s First Move Geography isn’t destiny —…

On March 29, 2026, a ground handling incident involving United Nigeria Airlines occurred at Murtala Muhammed International Airport, one of the busiest aviation hubs in West Africa. The incident, caused by a jet blast from a nearby aircraft, resulted in damage to a parked aircraft at the domestic terminal (MM2). While no injuries were reported, the event has raised concerns about ramp safety, coordination of ground operations, and equipment handling at congested airports. Overview of the Incident According to an official travel advisory issued by United Nigeria Airlines, the affected aircraft was an Embraer 190 operating Flight UN0503 from Akanu…

The Central Bank of Nigeria (CBN), has intensified its regulatory crackdown on loan defaults by blacklisting top defaulters and restricting their access to banking services. This decisive move targets “chronic defaulters” and large-ticket obligors—individuals and corporations with substantial non-performing loans (NPLs)—and signals a major shift toward financial discipline, accountability, and systemic stability in Nigeria’s banking sector. Background and Policy Context For years, Nigeria’s financial system has struggled with rising non-performing loans, particularly among: High-net-worth individuals Large corporations with multi-billion-naira exposures These borrowers often exploited regulatory gaps, including: Loan restructuring under regulatory forbearance “Credit jumping” (moving between banks to secure fresh…

The Nigerian Content Development and Monitoring Board (NCDMB), has been confirmed as the official Local Content Partner for African Energy Week 2026 (AEW 2026), reinforcing Nigeria’s leadership in advancing indigenous participation within Africa’s energy sector. Scheduled to take place from October 12–16, 2026 in Cape Town, the event will provide a high-level platform for the Board to highlight its achievements in capacity development, industrial expansion, and investment facilitation. NCDMB’s participation signals a broader commitment to strengthening local value creation, enhancing investor confidence, and promoting sustainable growth across the continent’s oil and gas industry. Strategic Participation at AEW 2026 As Local…

The Association of Medical Laboratory Scientists of Nigeria (AMLSN), has expressed strong opposition to a contentious health reform bill currently under consideration by the National Assembly, cautioning that its approval could disrupt the country’s healthcare system, threaten patient safety, and spark renewed professional disputes. The legislation in question — Executive Bill HB:2701 and a related Senate version — seeks to amend the Medical Laboratory Science Council of Nigeria Act, particularly Sections 3 and 29, which define the governance structure and scope of medical laboratory science practice in Nigeria. Core Concerns Raised by AMLSN Restructuring Governance Addressing journalists in Abuja on…

Nigeria’s foreign reserves have depleted by $499.46 million, falling from $50.02 billion to $49.53 billion in less than two weeks. This decline, reported by the Central Bank of Nigeria (CBN), reflects external reserves movement between March 11 and March 25, 2026. During this period, the reduction represents approximately 1 percent of total reserves, as the Naira to US Dollar exchange rate stood at N1,383.88 on Thursday. Reserve Projections vs Actuals The current reserves figure falls short of the CBN governor, Olayemi Cardoso’s 2026 projection of $51.04 billion, announced at the 2026 Macroeconomic Outlook for Nigeria. “The external reserves are projected…

As I flipped through the pages of today’s news, one report in Saturday PUNCH stopped me in my tracks—a troubling account of India’s ongoing crackdown on Nigerians. It is a development as consequential as it is unsettling, and certainly not one that should be ignored. It raises urgent questions about justice, diplomacy, and the lived realities of Nigerians abroad. It is against this backdrop that I offer the following perspective. India’s intensified enforcement against foreign nationals, particularly Nigerians, is rooted in legitimate concerns—drug trafficking, cybercrime, and visa violations. Recent figures showing hundreds of arrests and a sharp rise in deportations…