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Urgent Recapitalization of Nigerian Banks Needed Amidst Naira Devaluation
In recent developments, the devaluation of the Nigerian naira against the United States dollar has ignited discussions on the pressing need to raise the capital base of commercial banks in the country. Financial analysts and…
Nigerian Government Declares Public Holidays for Eid-el-Kabir Celebration
In a recent announcement, the Nigerian government has declared Wednesday and Thursday, 28 and 29 June 2023, as public holidays to commemorate this year's Eid-el-Kabir celebration. The Permanent Secretary in the Ministry of…
Fuel Price Doubling in West Africa Disrupts Informal Sector and Economic Activity
West African nations have experienced significant upheaval on their roadsides as the price of cheap contraband petrol from Nigeria has abruptly doubled, causing disruption to the region's informal sector, which plays a crucial role…
New Oil Spill in Nigeria Contaminates Farmland and River, Affecting Communities in the Niger Delta
Niger Delta, Nigeria - A recent oil spill at a Shell facility in Nigeria has caused extensive contamination of farmland and a river, disrupting the lives of fishing and farming communities in the Niger Delta. The region,…
Anambra State Revitalizes Sports Sector to Boost Economy
Awka, Anambra State - Anambra State is taking decisive steps to reinvigorate the sports sector as part of its broader efforts to revive the economy. Dr. Onyekachukwu Ibezim, the Deputy Governor of Anambra State, reaffirmed the…
APC Warns Nyesom Wike: “No Room for You in the Party”
Port Harcourt, Nigeria - The Rivers State chapter of the All Progressives' Congress (APC) has issued a stern warning to the immediate past governor of the state, Nyesom Wike, stating that there is no place for him within the party.…
Gunmen Go on Rampage, Kill Three Vigilante Operatives, and Set Houses Ablaze in Enugu
A horrifying incident unfolded in Enugu Ezike town, located in Igbo-Eze North Local Government Area of Enugu State, as a group of over 12 masked gunmen went on a rampage, resulting in the death of at least three individuals and…
Nigeria’s Public Debt Hits N49.95 Trillion, According to Debt Management Office
Nigeria's total public debt has reached N49.95 trillion (equivalent to $108.30 billion), according to the Debt Management Office (DMO). In an official statement released on its website, the DMO provided an update on the country's…
Removal of Petrol Subsidies in Nigeria Causes Price Surge in Neighboring West African Countries
Since Nigeria removed subsidies on petrol, petrol prices in neighboring West African countries have witnessed a significant increase, rising over 40 percent in surveyed markets. Cameroon, Togo, Benin, and Guinea, among others, are among the…
Mallam Nuhu Ribadu Assumes Office as Nigeria’s National Security Adviser, Vows to Tackle…
Mallam Nuhu Ribadu officially commenced his duties as Nigeria's National Security Adviser (NSA) on Monday, with a pledge to address the prevailing security challenges and restore stability to the country. Appointed by President Bola Tinubu…