Debt servicing exceeds capital spending by N3.9trn
Nigeria’s debt servicing costs exceeded capital expenditure by N3.9tn between 2024 and 2025, underscoring mounting fiscal pressure on the Federal Government’s finances, according to a media brief from the Federal Ministry of Finance. The document also showed that the Federal Government spent N27.2tn on servicing public debt during the two-year period. The brief, prepared by the Special Adviser to the Minister...
Oil price soars 25%, hits highest level in four years
Oil prices surged around 25% on Monday, March 9, 2026, to their highest since mid-2022, as an escalating Iran war squeezed world energy supplies. Brent was on track for its biggest one-day gain ever in both percentage and absolute terms as the expanding United States-Israeli war with Iran led some major Middle Eastern oil producers to cut supplies and on...
Iran appoints Khamenei’s son Mojtaba as new supreme leader
Iran's Assembly of Experts on Sunday named Mojtaba Khamenei to replace his late father, Ayatollah Ali Khamenei, as the country's new supreme leader. This comes more than a week in Iran’s war with the United States and Israel. United States President Donald Trump had earlier warned that a successor to Khamenei would not "last long” without his approval. The younger Khamenei had...
Awujale: Royal family seeks recognition in selection process
The Bubiade Royal Family of Ijebu-Ode has called for fairness and recognition of its customary rights in the ongoing process to select a new Awujale of Ijebuland, insisting that its lineage deserves the opportunity to produce the next monarch. Speaking at a briefing in Ijebu-Ode, the Olori-Ebi of the family, Alhaji Olaide Yusuf Busura, said the appeal was necessary to...
PSC denies N5m police promotion bribery claim
The Police Service Commission has dismissed allegations that senior police officers paid N5m each to secure promotion to the rank of Assistant Commissioner of Police. An online report by Sahara Reporters had claimed that officers bribed officials of the commission to move from the rank of Chief Superintendent of Police to Assistant Commissioner of Police. Reacting in a statement issued on...
FAAC sub-c’ttees get N11.5bn for 2026 budget planning
The Federation Account Allocation Committee (FAAC) has approved the transfer of N11.5bn from the 0.5 per cent Stabilisation Fund to finance the operations of its sub-committees working on preparations for the 2026 national budget framework, according to official documents. The document on the Stabilisation Fund account as of January 2026 showed that the withdrawal was authorised by the Minister of...
PDP crisis: Makinde, Wike camps await Appeal Court verdict today
Rival factions in the Peoples Democratic Party have expressed confidence ahead of Monday’s judgment by the Court of Appeal of Nigeria on the party’s leadership crisis. The dispute pits a camp backed by Seyi Makinde, governor of Oyo State, and Bala Mohammed of Bauchi State against another aligned with the Minister of the Federal Capital Territory, Nyesom Wike. The National Publicity...
NNPC eyes foreign crude supply for Dangote Refinery as fuel prices rise
The Federal Government, through the Nigerian National Petroleum Company Limited (NNPC Ltd), is exploring options to supply crude oil to the Dangote Petroleum Refinery through third-party international traders in an effort to sustain domestic refining operations. However, industry officials say the move may not immediately reduce petrol prices for Nigerians, who are already grappling with rising fuel costs following recent...
NGE inaugurates research, training, publications c’ttee to boost journalism
The Nigerian Guild of Editors has inaugurated a Research, Training and Publications Committee as part of efforts to strengthen professional capacity, promote journalism scholarship and keep members updated on emerging issues in the media industry. President of the Guild, Eze Anaba, who inaugurated the committee, said the initiative was aimed at bridging the gap between academic journalism training and professional...
VIDEO: Abducted NYSC member appears in video, denies rumoured death
An abducted member of the National Youth Service Corps, identified simply as Abba, has appeared in a new video released by his captors, dismissing earlier reports that he had been killed. The video, which surfaced on Sunday, showed the corps member alive and speaking from what appeared to be the kidnappers’ hideout. In the footage, Abba said the recording was made...
