Nigeria has cancelled $717.7m in undisbursed World Bank loan financing for its power sector, after the 2023 currency float upended the programme's reform targets.
Pipeline Infrastructure Nigeria Limited (PINL), responsible for safeguarding oil pipelines in Delta State, Nigeria, is under scrutiny for its performance. Despite accusations of underperformance, PINL receives backing from local experts, government officials, and community leaders who tout the company's success in reducing pipeline vandalism and boosting the regional economy.
Nigerian civil society organizations (CSOs) are demanding stronger action against corruption in the government. The groups are urging political parties to denounce members facing corruption charges and calling for increased transparency and accountability within government institutions.
In a surprising turn of events, former Benue State Governor Samuel Ortom urged Yahaya Bello, the immediate past governor of Kogi State, to surrender himself to the Economic and Financial Crimes Commission (EFCC) amid ongoing corruption investigations. Ortom's statement comes after Bello's recent absence from court hearings related to the EFCC probe.
Lagos Governor Babajide Sanwo-Olu and Senator Adetokunbo Abiru are advocating for the urgent dualization of the Ikorodu-Itokin Road, a vital artery for economic activity in the region. The road's rehabilitation and planned dualization are expected to significantly improve traffic flow and boost economic growth in Lagos State and beyond.
Nigerian Works Minister David Umahi defends the Lagos-Calabar Coastal Highway project, calling critics who question its funding and economic viability "unpatriotic." The project is expected to improve connectivity between Nigeria's economic hubs and boost national growth.
Nigerian lawyer Mike Ozekhome has distanced himself from a fabricated social media post that claimed he criticized the EFCC's pursuit of corruption charges against Kogi State Governor Yahaya Bello. Ozekhome called the statement "a lie from the pit of hell.
Nigeria has cancelled $717.7m in undisbursed World Bank loan financing for its power sector, after the 2023 currency float upended the programme's reform targets.
Nigeria's capital importation jumped 182% to $3.52bn in January, driven almost entirely by foreign portfolio investment, while foreign direct investment collapsed by 80 percent.
Nigerian insurers will reject claims from policyholders who failed to link their NIN to their policies before the April 30 deadline, the Insurers Committee has said.