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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.
Business

AfDB approves $200m BoI facility to boost Nigeria’s industrial sector

AfDB approved a $200 million facility for Nigeria's Bank of Industry to boost SMEs, manufacturing and green industrialization, with women-led and youth businesses prioritized.
Business

FG, AfDB Launch Special Agro-Industrial Zones Plan in Cross River

FG and AfDB launch SAPZ in Cross River, aiming to transform agriculture and create jobs while ensuring food security across Nigeria
News

Nigeria’s Rural Electrification Agency Signs Two Deals for Off-Grid Power

  The Rural Electrification Agency (REA) of Nigeria has signed two grant agreements with two...
Business

Nigeria to Receive $618M from AfDB for Digital and Creative Sectors

Nigeria is set to receive a $618 million fund from the African Development Bank...
News

AfDB Elevates Nigeria with $4.4B Portfolio, Targets Economic Resilience

Nigeria's economic landscape has experienced a significant boost, with the African Development Bank (AfDB)...

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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.