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World

IMF pledges $50bn aid to Nigeria, others amid US-Iran war

The International Monetary Fund has indicated plans to provide up to $50 billion in financial support to Nigeria and other countries affected by the biting impact of the ongoing Middle East crisis. Managing Director of the IMF, Kristalina Georgieva, disclosed this at the unveiling of the Fund’s Global Policy Agenda during the ongoing Spring Meetings […]

Oil and Gas

NUPRC reports 4.2% rise in March oil output

The Nigerian Upstream Petroleum Regulatory Commission on Wednesday said that Nigeria’s oil production rose by 4.2 per cent to 1.546 million barrels per day in March 2026, compared to 1.483 mbpd recorded in February. In its oil production status report released yesterday, the Commission said crude oil production (excluding condensate) increased by 5.2 per cent […]

NDIC reimburses depositors of 179 disolved banks
Banking

NDIC begins final liquidation of 89 defunct microfinance banks

The Nigeria Deposit Insurance Corporation has commenced moves to formally conclude the liquidation of 89 defunct Microfinance Banks and Primary Mortgage Banks whose operations were successfully transferred to new owners under its Purchase and Assumption framework. In a statement signed by its Head of Communication and Public Affairs, Hawwau Gambo, the Corporation said the exercise […]

Electricity

Nigeria’s electricity crisis persists as installed capacity lies dormant

Nigerians continue to face electricity shortages as about 9,536 megawatts of installed power generation capacity remains unavailable, according to the latest data from the Nigerian Electricity Regulatory Commission. An operational report by the regulator showed that grid-connected plants had a total installed capacity of 13,625MW in March, but only 4,089MW was available for dispatch. This […]

Maritime workers reject FG’s plans to re-float NNSL
Business

Nigeria unveils first African blue economy television

Blue Economy Television, a platform established to promote Nigeria’s maritime and blue economy sector, has been officially launched in Lagos. A statement issued on Monday described the initiative as a landmark in specialised broadcasting, noting that it is the first of its kind in Africa. The channel will focus on marine resources, policy conversations, shipping, […]

Aviation

United Nigeria aircraft grounded after bird strike at Abuja airport

Another United Nigeria Airlines aircraft operating from Port Harcourt to Abuja has been grounded after experiencing a bird strike during landing. The airline’s spokesperson, Chibuile Uloka, confirmed the incident in a statement issued on Wednesday. Earlier that same day, the carrier had reported a separate bird strike involving one of its CRJ-900 jets. With the […]

featured Finance

Official, parallel FX market rates show naira appreciation

The Naira demonstrated a firming trend against the United States Dollar in the early hours of Thursday, April 16, 2026, as increased market supply and strategic policy measures continued to influence currency valuations. In the Nigerian Foreign Exchange Market, the official window for currency transactions, the Naira opened the session with a notable appreciation, trading […]

Business

Dangote listed among TIME 100 most influential people

The President of the Dangote Group, Aliko Dangote, has been named to the TIME100 list for 2026, reinforcing his position as one of the world’s most influential business figures. The list, released on April 15, honours individuals driving global conversations across business, politics, technology, and culture. Dangote appears alongside world leaders such as Donald Trump, […]

Anthropic gives Claude AI power to end conversations
Tech

Anthropic reports progress in fixing chatbot login issues

Anthropic on Wednesday stated that login success rates for the chatbot had stabilised and that it was working to fully resolve the issue. The company had earlier reported that it encountered elevated error rates affecting its Claude chatbot, application programming interface, and coding assistant, Claude Code, according to its status page. As of 1:50 p.m. […]

featured

Nigeria’s inflation rises to 15.38% in March – NBS

Nigeria’s headline inflation rate rose to 15.38 per cent in March 2026, up from 15.06 per cent in February, according to the National Bureau of Statistics. This marks the first increase in 12 months, following a steady decline that began in April 2025. The NBS disclosed the figure in its Consumer Price Index report released […]