Nigeria’s foreign-exchange reserves are on track to climb toward $51 billion this year, underscoring a steady recovery in external buffers even as global shocks and domestic political risks test the durability of recent reforms. At $48.44 billion as of April 23, the country’s reserves cover more than 12 months of imports, according to analyst estimates, reinforcing the Central Bank of Nigeria’s (CBN) view that its year-end target of $51.04 billion remains achievable despite headwinds from the Middle East crisis. The build-up reflects a mix of improved FX inflows, stronger oil receipts, rising diaspora remittances through formal channels, and renewed foreign…
Author: Editor
The Senate on Wednesday confirmed the appointment of Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), describing him as well-suited for the role. The confirmation followed the adoption of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, presented by its Chairman, Tokunbo Abiru. Abiru told lawmakers that Yuguda possesses the requisite experience and expertise for the position, in line with Section 8(1) of the CBN Act. He noted that the nominee demonstrated strong knowledge of financial and monetary policy during his screening and added that no petitions were received against his…
In the early hours of a typical market day in Owo or the quiet evenings in Akoko communities of Ondo state, political conversations are already shifting—long before campaign posters appear or party primaries begin. Across Ondo North, people are asking familiar but urgent questions: Who truly understands our struggles? Who will speak for us where it matters? In these conversations, one name is beginning to surface more frequently—Michael Abayomi Adeyanju. While the 2027 elections are still some distance away, his growing visibility is not accidental. It reflects a combination of factors that are slowly shaping public perception across the district.…
Indigenous Peoples and feminist movements have called for a rights-based and inclusive approach to the global energy transition, warning that current efforts risk deepening existing inequalities if not properly structured. The groups made the call in a joint position presented at the First International Conference on the Just Transition Away from Fossil Fuels held in Santa Marta, Colombia, where global leaders are meeting to deliberate on pathways to phase out fossil fuels. Drawing from global consultations and frontline experiences, Indigenous leaders reaffirmed their status as rights-holders and custodians of lands, waters, and biodiversity. They stressed that meaningful climate and economic…
The World Agriculture Forum Nigeria (WAF) has inaugurated its Country Council to drive transformative dialogue and action on agriculture, food systems, and rural development for enhanced food security. Speaking at the inauguration in Abuja, the Executive Director of the World Agriculture Forum, Dr MJ Khan, described the establishment of the Nigeria Country Council as timely and strategic. Dr Khan, who was represented by Mr Lekan Ofem, Director of Strategy and Head of Country Councils and Stakeholder Engagement, said the event signals a renewed commitment to transforming agriculture into a powerful engine for economic growth, social inclusion, and environmental sustainability. “The…
The United Nations Children’s Fund (UNICEF) has called on the Bauchi State Government to prioritise full immunization coverage for every child, warning that thousands remain vulnerable to preventable diseases. The Chief of UNICEF Field Office in Bauchi, Nuzhat Rafique, made the call during the state-level commemoration of the 2026 World Immunization Week held in Bauchi. She described vaccines as the most effective protection against preventable diseases, noting that outbreaks still threaten communities despite decades of progress. “Completing the full immunisation schedule not only protects individual children but also safeguards entire communities,” she said. Rafique emphasised that vaccination remains one of…
In 1977, as a teenager in Form One at Government Secondary School Funtua, my form teacher asked me to indicate what I wanted to be. I said journalist and astronaut – two careers that are inordinately opposed, one art-based and the other science-based. Journalism, because I used to watch my uncle glued to his radio, listening to the BBC Hausa service and the famous Radio Nigeria Kaduna, and I was told journalists were champions at radio, television, and newspapers. Astronaut, because our science teacher taught us about the solar system, a gravitationally bound system comprising the Sun and its nine…
Nigeria’s military expenditure surged sharply in 2025, rising by 55% year-on-year to $2.1 billion, as worsening insecurity across the country forced increased defence spending. This is according to a new report by the Stockholm International Peace Research Institute (SIPRI). The report places Nigeria among the fastest-growing military spenders globally in 2025, highlighting how internal security pressures are reshaping fiscal priorities in sub-Saharan Africa. SIPRI data shows Nigeria’s military spending jumped from roughly $1.35 billion in 2024 to $2.1 billion in 2025, marking one of the steepest increases in Africa. The surge was largely driven by intensifying security challenges, including insurgency in the North-East, banditry in the North-West, and widespread…
Poultry farmers in Lagos State have called for increased financing to scale up production capacity and address persistent challenges in the sector. One of the farmers, Mrs Queeneth Kingsley, appealed in separate interviews conducted on Monday in the Shasha area of Lagos, noting that limited access to capital remains a major constraint. According to her, many farmers lack the funds needed to expand operations. “One of the major challenges poultry farmers face is scaling up production, but the problem is lack of finance. “Most times, I spend over N1 million to stock my pens with point-of-lay birds. This January alone,…
The Kano State House of Assembly has confirmed Murtala Garo as the new Deputy Governor of Kano State following a successful screening. The confirmation came after the presentation and adoption of a report by an ad hoc committee during plenary presided over by the Speaker, Jibril Falgore, on Monday. Presenting the report, Deputy Speaker Muhammad Bello said Garo’s nomination followed the resignation of former Deputy Governor, Aminu Gwarzo. He noted that the screening was conducted in line with Section 191(3)(c) of the 1999 Constitution (as amended), which empowers the Assembly to approve a nominee in the event of a vacancy.…