Author: Johnson Ajeigbe
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CBN Boosts Dollar Supply, Grants BDCs $150,000 Weekly Access
The Central Bank of Nigeria (CBN) has approved the participation of licensed Bureau De Change (BDC) operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly. The directive was contained in a circular dated February 10, 2026, and signed by the Director of the Trade and Exchange Department,…
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FG, States, LGs Share ₦1.969trn December Revenue as VAT Rises
The Federal Government, 36 state governments and 774 local government councils have shared a total sum of ₦1.969 trillion as revenue for the month of December 2025. The sharing was done under the Federation Account Allocation Committee (FAAC) at its January 2026 meeting. Details of the allocation were contained in a communiqué issued after the…
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FG Proposes ₦102.3bn for Lagos Green Line Rail in 2026 Budget
The Federal Government has proposed to allocate ₦102.3 billion as counterpart funding for the Lagos Green Line rail project in the 2026 budget. This proposal is contained in the 2026 Appropriation Bill submitted to the National Assembly under the Ministry of Transportation. The Lagos Green Line is one of the major rail projects planned to…
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NPA Confirms Influx of 41 Ships Into Lagos Ports Between January 2, 5
Nigeria’s major seaports in Lagos are set to witness increased activity as no fewer than 41 vessels carrying petroleum products, food items, and other goods are expected to arrive between January 2 and January 5. The ships are scheduled to berth at the Apapa Port, Tin Can Island Port, and the Lekki Deep Sea Port.…
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Naira Records Fresh Drop as FX Market Shows Mixed Signals
The Nigerian naira recorded a slight depreciation against the United States dollar at the official foreign exchange market on Tuesday, just days before the end of the year. The development reflects continued pressure on the local currency, even as Nigeria’s external reserves continue to grow. Data released by the Central Bank of Nigeria (CBN) showed…
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High Airfares Not Caused by Taxes, NCAA Insists
The Nigerian Civil Aviation Authority (NCAA) has dismissed claims that high taxes are responsible for the rising cost of domestic air tickets in Nigeria. The aviation regulator said airlines have been misleading the public by blaming government charges for the sharp increase in airfares, especially during peak travel periods. The NCAA made this position known…
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Agbese: FG to Operate Single Budget from March 2026
The Federal Government of Nigeria will operate a single budget starting from March 2026, the Deputy Spokesperson of the House of Representatives, Philip Agbese, has confirmed. According to Agbese, the move is part of a broader effort to streamline the country’s budgeting system, improve transparency, and align with global best practices. Agbese made the announcement…
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Tinubu’s ADC Promotion Sparks Outcry Over Military Procedure Violations
The recent promotion of President Bola Tinubu’s Aide-de-Camp (ADC) from colonel to brigadier general has sparked a storm of criticism, with political commentator Mahdi Shehu describing the move as a serious violation of military procedures. In a post shared on his official X account on Monday, Shehu accused President Tinubu of bypassing established rules and…
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Dangote Sets New Petrol Pump Price at ₦739, Promises Enforcement
In a move set to impact motorists across Nigeria, the Dangote Petroleum Refinery has announced that petrol will be sold at N739 per litre at pump stations, starting with MRS outlets in Lagos. This decision comes just two days after the refinery reduced its gantry price from N828 to N699 per litre. Speaking at a…
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Crude Oil Theft Allegations: NIMASA Denies Any Link to MV Skipper
The Nigerian Maritime Administration and Safety Agency (NIMASA) has denied reports linking Nigeria to the supertanker, MV Skipper, recently seized by United States forces over allegations of crude oil theft and other transnational crimes. In a statement issued on Friday, NIMASA said the vessel, a Very Large Crude Carrier (VLCC), is not registered under the…