Author: Adejuyigbe Adegoke

Flutterwave, one of Africa’s leading payments technology firms, has secured a banking license in Nigeria, marking a pivotal moment in its evolution from a payments processor to a full-scale financial infrastructure provider. Granted under the regulatory oversight of the Central Bank of Nigeria, this license allows Flutterwave to operate more deeply within the financial system—its largest and most strategic market. This milestone coincides with Flutterwave’s 10th anniversary in 2026, signaling a transition into a new phase of growth focused on efficiency, autonomy, and full-stack financial services. Understanding the Banking License What the License Enables The banking license allows Flutterwave to:…

The Nigerian National Petroleum Company Limited (NNPCL), has increased its crude oil allocation to the Dangote Petroleum Refinery for May loading, raising supply from five to seven cargoes. This development comes at a critical time when global oil markets are under pressure due to geopolitical tensions, particularly involving Iran. The decision reflects strategic effort to strengthen domestic refining capacity and cushion the local fuel market from international volatility. Background and Context The Dangote Refinery The Dangote Petroleum Refinery, located in Lagos, is Africa’s largest refinery with a capacity of approximately 650,000 barrels per day. Commissioned to reduce Nigeria’s reliance on…

The Governor of Lagos State, Babajide Sanwo-Olu, has approved the release of 43 inmates from correctional facilities across the state. The decision is part of ongoing efforts to decongest custodial centres, improve correctional conditions, and strengthen reforms within the criminal justice system. This development was formally disclosed by the Lagos State Attorney-General and Commissioner for Justice, Lawal Pedro, who emphasized that the move aligns with broader institutional strategies to address overcrowding and enhance justice delivery. Background and Context Correctional facilities in Lagos have long struggled with overcrowding, largely due to the high number of awaiting-trial inmates. This situation has placed…

On April 1, 2026, the Nigerian federal government approved an upward review of domestic natural gas prices, a move implemented through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The decision is part of ongoing energy sector reforms aimed at ensuring cost-reflective pricing, improving supply, and attracting investment into Nigeria’s gas market. Details of the Gas Price Increase According to an official circular issued by the NMDPRA: New gas price for power generation companies (GenCos):Increased from $2.13/MMBTU to $2.18/MMBTU Absolute increase: $0.05/MMBTU Effective date: April 1, 2026 Additional pricing adjustments include: Commercial users:Increased from $2.63/MMBTU to $2.68/MMBTU Domestic Base…

The Commissioner of Police in Lagos State, Fatai Tijani, has ordered the immediate withdrawal of the Lagos State Environmental Sanitation and Special Offences Unit (Task Force), from all traffic control and enforcement duties across the state. This directive represents a major shift in Lagos’ traffic governance framework and reflects broader concerns about accountability, operational overlap, and public trust in enforcement agencies. Official Directive and Communication The announcement was formally communicated by the Police Public Relations Officer, Abimbola Adebisi, who stated that the decision is part of ongoing reforms aimed at improving professionalism and streamlining operations. According to the official statement:…

The Nigerian Senate has approved President Bola Ahmed Tinubu’s request to secure external loans totaling $6 billion, reflecting a swift legislative response to urgent fiscal and infrastructural needs. The approval came barely four hours after the Senate President, Godswill Akpabio, read the letters from the President requesting the loans. Background and Structure of the Loan Request President Tinubu’s request was submitted in two separate letters addressed to the Senate and read during plenary on Tuesday, March 31, 2026. $5 Billion Structured TRS Facility – The first letter sought approval for a structured total return swap (TRS), external financing programme of…

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 —…