Nigeria loses N1.76trn to OPEC production shortfall
Nigeria’s oil sector forfeited an estimated N1.76 trillion in potential revenue after failing to consistently meet its crude oil production quota set by the Organization of the Petroleum Exporting Countries (OPEC) between January 2025 and January 2026. Production figures released by the Nigerian Upstream Petroleum Regulatory Commission show the country fell short of its 1.5 million barrels per day (mbpd)...
Oil prices rise as traders weigh progress in US–Iran talks
Oil prices increased on Wednesday, February 18, 2026, after falling about 2% in the previous session as investors assessed progress in United States–Iran talks. Brent futures rose 15 cents or 0.22% to $67.57 a barrel by 0737 GMT, while U.S. West Texas Intermediate (WTI) crude was up 12 cents or 0.19% at $62.45. Both are around two-week lows. Iranian Foreign Minister Abbas...
Investors lose N577bn as stock market ends 13-day rally
The Nigerian stock market reversed its bullish trend on Tuesday, February 17, 2026, recording a loss of N577 billion after a 13-day consecutive rally. Selloffs in major stocks such as Skyway Aviation Handling Company, Zenith Bank, Mecure, RT Briscoe, Tripple Gee, and 35 other declining stocks drove the market into negative territory. The market capitalisation of listed equities dropped by N577...
UCL: Racism allegations mar Real Madrid win over Benfica as PSG defeat Monaco
Vinicius Junior scored and then alleged he had been racially abused during Real Madrid's 1-0 win away to Benfica in the first leg of their Champions League play-off tie on Tuesday, while Paris Saint-Germain (PSG) came from two goals down to beat Monaco 3-2. Elsewhere, Galatasaray stunned Juventus, beating the Italians 5-2 in Istanbul, and Borussia Dortmund seized the upper...
N432bn probe: El-Rufai spends second night in EFCC’s custody
The detained former Kaduna State Governor, Nasir El-Rufai, has spent his second night at the headquarters of the Economic and Financial Crimes Commission (EFCC) in Abuja. El-Rufai, who presented himself for questioning over corruption allegations at the EFCC headquarters in Abuja on Monday, was held in custody by the anti-graft agency interrogators. The former governor was being grilled over alleged fraud...
Ghost workers face March salary cut as FG concludes civil service audit
The Federal Government has announced that salaries of unverified staff in the Federal Civil Service will be halted from March 2026 as it rounds off its nationwide personnel verification exercise. This directive was disclosed in a memo issued by the Office of the Head of the Civil Service of the Federation and signed by the Head of Service, Didi Walson-Jack. The...
ICPC arraigns works ministry director over N2m money laundering
The Independent Corrupt Practices and Other Related Offences Commission has arraigned a director in the Federal Ministry of Works and Housing over alleged money laundering and corruption. The defendant, Mrs. Blessing Adiobome Lere-Adams, was brought before Justice M. S. Liman of the Federal High Court sitting in Abuja on Monday, February 16, 2026. According to the anti-graft agency, Lere-Adams is facing...
Tinubu appoints Uba Sani Renewed Hope ambassador, Deputy DG for party mobilisation
President Bola Ahmed Tinubu has appointed Governor Uba Sani of Kaduna State as Renewed Hope Ambassador and Deputy Director-General for party outreach, engagement, and mobilisation. The appointment, which takes immediate effect, was announced in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga. Tinubu, in his capacity as leader of the All Progressives Congress (APC), cited...
LAUTECH students protest department relocation
Students of Ladoke Akintola University of Technology (LAUTECH) on Tuesday staged a protest over the planned relocation of the Department of Anatomy and Physiology, barricading the institution’s main gate in opposition to the move. The students, who gathered in large numbers at the campus in Ogbomoso, Oyo State, sang solidarity songs and displayed placards rejecting the university management’s decision to...
Ramadan fasting begins in Nigeria on Wednesday — Sultan
The Sultan of Sokoto and President-General of the Nigeria Supreme Council for Islamic Affairs (NSCIA), Sa’ad Abubakar, has declared Wednesday, February 18, 2026, as the first day of Ramadan 1447 AH in Nigeria. The Sultan announced the sighting of the new crescent of Ramadan 1447 AH in a statement issued by the Chairman Advisory Committee on Religious Affairs, Sultanate Council...
