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Obasanjo says 13% derivation is only a start for oil-producing states

Former president Olusegun Obasanjo says the 13% derivation is only a starting point for oil producing states, as Bayelsa governor Douye Diri calls it inadequate.
News

Nigeria spent N7.7 trillion on debt interest in six months, 124% of its revenue, World Bank says

Nigeria spent N7.7 trillion on interest in the first half of 2026, equal to 124.2% of its N6.2 trillion revenue, according to the World Bank.
News

Raw exports mean we’re exporting jobs, RMRDC chief warns

RMRDC Director-General Nnanyelugo Ike-Muonso says Nigeria must abandon raw material exports for value addition and innovation if the country wants a real industrial renaissance.
Business

Lagos Boosts Small Businesses with N8.4bn Loan in Four Years

Lagos State, the commercial hub of Nigeria, has injected N8.4 billion into the growth...
Business

Boosting Non-Oil Trade: Sterling Bank and Afreximbank Ink $75 Million Deal

Sterling Bank Plc, one of Nigeria’s leading commercial banks, has signed a $75 million...
News

Tinubu Seeks Investment Opportunities at Riyadh Summits

President Bola Tinubu of Nigeria is set to attend two major summits in Riyadh,...
Business

West Africa Loses Billions to Trade Barriers Along Lagos-Abidjan Highway

The Lagos-Abidjan highway, a 1,028-km road project that aims to connect five coastal countries...
Business

Nigeria’s Industrialisation Dream Fades as Naira Hits Record Low 

Nigeria, Africa’s largest economy, is facing a crisis of industrialization as its currency, the...

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Business

Obasanjo says 13% derivation is only a start for oil-producing states

Former president Olusegun Obasanjo says the 13% derivation is only a starting point for oil producing states, as Bayelsa governor Douye Diri calls it inadequate.
News

Nigeria spent N7.7 trillion on debt interest in six months, 124% of its revenue, World Bank says

Nigeria spent N7.7 trillion on interest in the first half of 2026, equal to 124.2% of its N6.2 trillion revenue, according to the World Bank.
News

Nigeria opens 2026 licensing round with 40 oil blocks as output hits 1.82 million barrels a day

Nigeria has launched its 2026 oil licensing round, offering 40 blocks across land, shallow water and deepwater, as crude and condensate output rises to 1.82 million barrels a day.
News

“Even a pregnant woman suffers”: Ogun’s Oke Sefu residents beg Gov. Abiodun to fix flooded, pothole-ridden road

Residents of Oke Sefu community in Ibafo, Ogun State, are appealing to the state government to repair a flooded, pothole-ridden access road that has disrupted livelihoods.