Economists have praised the Central Bank of Nigeria (CBN) following the rise in the country’s external reserves to a record $50.04 billion, describing the development as a positive signal for economic stability, investor confidence, and exchange-rate management. Nigeria’s gross external reserves climbed to $50.04 billion on June 5, 2026, slightly surpassing the previous record of $50.03 billion recorded on March 11, according to data published by the apex bank. Speaking on the development, renowned economist and Co-founder of the Lagos Business School, Patrick Utomi, commended the CBN for sustaining reserve growth despite global economic uncertainties and ongoing external obligations. He,…
Author: Newsdesk
Environmental Physicist Prof Sakiru Okedeyi says increased investment in atmospheric and environmental physics can greatly enhance Nigeria’s ability to predict floods, manage climate risks, and protect lives and property. Okedeyi, also the Provost of the Postgraduate College at Lagos State University of Education, shared this in an interview with reporters in Lagos. He emphasized that physics remains central to modern weather forecasting, disaster risk reduction, and the development of early warning systems. He explained that physicists use advanced models to predict rainfall intensity, simulate river flows, and identify communities vulnerable to flooding. According to him, these models help forecast flood…
The Federal Government has rescheduled the airlift of the first batch of Nigerian citizens wishing to leave South Africa following recent xenophobic attacks against Blacks in the country. Kimiebi Ebienfa, spokesperson for the Ministry of Foreign Affairs, disclosed this in a statement on Monday. According to Ebienfa, the original plan to evacuate the first batch of returnees on Monday has been moved to Wednesday due to unforeseen logistical issues. READ ALSO: Nigeria to use €59m WASOP to fight illegal fishing He explained that President Bola Tinubu approved five evacuation flights, which will be operated by Nigeria’s private airline, Air Peace.…
The Centre for the Promotion of Private Enterprise (CPPE), an NGO, has called on the House of Representatives to reject the sugar-sweetened beverage tax bill, describing it as ill-timed and insensitive to Nigeria’s current economic realities for manufacturers. Chief Executive Officer Dr. Muda Yusuf made the appeal in a statement issued on Sunday in Lagos. It was reported that the Senate had passed the Customs, Excise Tariff, etc. (Consolidation) Act (Amendment) Bill 2025, aimed at reforming excise duties on sugar-sweetened beverages. The bill also seeks to strengthen public health financing and address the growing burden of non-communicable diseases in Nigeria.…
The Nigerian naira maintained its strength against the British Pound Sterling, opening trading at N1,823/£1 in the official foreign exchange market. According to the latest data from the Central Bank of Nigeria (CBN), the naira closed at N1,823/£1 on Friday, June 5, 2026, reflecting a modest recovery from the approximately N1,845/£1 recorded at the beginning of June. The appreciation comes amid the CBN’s ongoing liquidity management measures aimed at stabilising the foreign exchange market. The Monetary Policy Rate (MPR) remains at 26.5 per cent, while the Cash Reserve Ratio (CRR) has been retained at 45 per cent as part of…
Dr. Sati Ngulukun, Director of Research at the National Veterinary Research Institute in Vom, Plateau, has expressed concern over the growing threat posed by unvaccinated stray dogs roaming Nigerian communities. He warned that this trend could facilitate the spread of rabies and other zoonotic diseases. Ngulukun, also a veterinary expert, told reporters on Sunday in Abuja that the presence of unvaccinated dogs in public spaces remains a major public health risk requiring urgent action. He emphasized that dogs are responsible for the majority of human rabies cases. Although preventable, rabies remains almost always fatal once clinical symptoms appear. He explained…
The UN Food and Agriculture Organization (FAO) has emphasized that reliable data on the health burden of unsafe food is essential for evidence-based policies, coordinated multisectoral action, and informed consumer choices. FAO Director-General Dr. QU Dongyu made this statement in his message marking the 2026 World Food Safety Day (WFSD), celebrated on June 7 under the theme: “From burden to solutions: safe food everywhere.” The theme highlights how data on illness, its impact, and lost lives can guide targeted and cost-effective solutions. Dongyu explained that foodborne diseases can affect everyone everywhere, and understanding the extent of the burden enables governments…
Tamunosoye Karibi-George, representing Bayelsa State, has been crowned Miss World Nigeria 2026. She edged out 20 finalists to win the highly coveted crown at the grand finale held over the weekend in Lagos. The competition, themed “Pride, Power, and Purpose,” included contestants from across Nigeria, featuring talent showcases, interviews, and evening wear rounds. With her victory, the 26-year-old Queen from Port Harcourt, Rivers State, will represent Nigeria at the 73rd Miss World Festival in Ho Chi Minh City, Vietnam, from August 9 to September 5. Karibi-George succeeds Joy Raimi, Miss World Nigeria 2025, who represented Nigeria at the 72nd Miss…
China’s Hengzhi Cui won the boys’ singles title at the first week of the 2026 NASCO/ITF J30 World Tennis Tour Junior Championship on Sunday in Abuja. The tournament began on June 1 and concluded on Sunday at the tennis complex of the Moshood Abiola National Stadium. Cui delivered a commanding performance in the final, defeating Nigeria’s Elisha Kwange 6-2, 6-2 to claim the Under-18 boys’ singles crown. The Chinese player had a dominant run throughout the competition. He defeated Divine Nkolo 6-1, 6-0 in the quarter-finals and overcame American Elliott Awomoyi 6-1, 6-4 in the semi-finals. Kwange also impressed on…
A popular plastic store, Iyanu Plastic, in Osogbo was razed by fire on Sunday, destroying property worth millions of Naira. The Assistant Director of Operations, Osun Fire Service, Mr. Ibrahim Adekunle, confirmed the incident, stating that the fire started in the afternoon. “Officials were able to subdue the fire. The fire destroyed all the plastics and was difficult to control because the materials were highly flammable. READ ALSO: Edo fire service controls market blaze “We were alerted to the fire at about 2:30 p.m.,” Adekunle told reporters. He said the fire service was still investigating the cause of the fire,…