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Finance

Nigeria’s $5 Billion Oil-Backed Loan from Aramco Stalls Amid Falling Crude Prices

Talks on $5B Oil Loan With Aramco Slow Down Discussions between Nigeria and Saudi Aramco over a $5 billion oil-backed loan have stalled as falling crude prices complicate negotiations. Reuters reports that the drop in global oil prices has made it harder for both sides to agree on terms for what would be Nigeria’s largest such deal and Aramco’s first major financing move in the country. “It’s hard to find anyone to underwrite it,” said one source familiar with the talks. The delay comes at a critical time, as Nigeria seeks foreign loans to support its 2025 budget amid rising fiscal pressures and limited revenue sources. Oil Price Drop Puts Pressure on Deal Oil prices have fallen by about 20% , with Brent crude now trading around $65 per barrel , down from over $82 in January . This decline […]

Mujahid Yusuf June 10, 2025

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Finance

FG’s Savings Surge by Over 500% After Petrol Subsidy Removal — NOA Report

Petrol Subsidy Removal Yields Massive Financial Gains The Federal Government’s savings jumped by over 500% in the first quarter of 2025 following the removal of petrol subsidies in 2023, according to a recent report by the National Orientation Agency (NOA) . This surge in revenue marks a major shift in Nigeria’s fiscal policy and has allowed the government to direct billions toward infrastructure, education, agriculture, and debt reduction. “For decades, oil subsidies were a major burden on our economy,” the report stated.“But today, we are seeing real progress thanks to President Tinubu’s bold decision.” A Historic Move That Stopped Billions in Waste President Bola Ahmed Tinubu ended the long-standing fuel subsidy regime shortly after taking office in 2023. The move stopped years of economic bleeding that had cost Nigeria over $84 billion between 2005 and 2022. Before the reform, fuel […]

Mujahid Yusuf June 10, 2025

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Finance

Nigeria’s Economy Back on Track – Says Minister Atiku Bagudu

Nigeria’s Economy Is Improving — Says Economic Planning Minister The Nigerian economy is moving in the right direction , though it has not yet reached its full potential, according to Atiku Bagudu , Minister of Budget and Economic Planning. Speaking after a meeting with President Bola Ahmed Tinubu at his Lagos residence over the weekend, Bagudu praised the administration’s bold policy decisions and outlined how they are setting the stage for long-term growth. “We’re not where we want to be, but these steps have turned the economy in the right direction.” Structural Reforms Begin to Pay Off Bagudu credited President Tinubu’s government for making tough but necessary choices , including the removal of costly subsidies on fuel, foreign exchange, and electricity —a move that freed up billions for more impactful spending. “Decades of underinvestment brought Nigeria to a point where […]

Mujahid Yusuf June 9, 2025

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Finance

AGF Clears Fidelity Bank CEO of Criminal Charges

AGF Clarifies Discontinuation of Case Against Fidelity Bank CEO The Office of the Attorney General of the Federation (AGF) has officially discontinued the criminal case against Dr. Nneka Onyeali-Ikpe , Managing Director and CEO of Fidelity Bank Plc , citing her lack of direct involvement in the alleged fraudulent activities under review. This decision came after a comprehensive legal review by the AGF’s office. A statement issued on Monday clarified that Dr. Onyeali-Ikpe did not manage the account in question nor was she in her current role when it was opened. Kamarudeen Ogundele, Special Assistant to the President on Communication and Publicity, explained the move: “The Attorney General’s decision is a testament to the office’s commitment to upholding justice and fairness.” He added that as the chief law officer of the federation, the AGF has the constitutional power to stop […]

Mujahid Yusuf June 9, 2025

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Locations

PDP Vows to Unseat Jigawa Governor Umar Namadi in 2027 Elections

PDP Sets Sights on Jigawa as 2027 Approaches The People’s Democratic Party (PDP) has officially declared its intent to unseat Governor Umar Namadi of Jigawa State in the 2027 general elections . Umar Danjani, the Deputy Chairman of the state chapter of the party, made the announcement via a Facebook post on Sunday, expressing confidence in the party’s ability to reclaim power in the state. Danjani cited several examples where opposition parties successfully unseated sitting governors, even when the president belonged to a different political party. Historical Precedents Cited by PDP In his post, Danjani referenced notable gubernatorial victories that defy national political trends: In 2019 , Ahmadu Fintiri of the PDP defeated Jibrilla Bindow of the APC in Adamawa State In 2015 , Abdulaziz Yari won in Zamfara State , despite the federal government being led by a PDP […]

Mujahid Yusuf June 9, 2025

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Events

Saudi Health Ministry Issues Guidelines for Managing Injuries During Hajj

Essential Health Guidelines for Hajj Pilgrims Released The Saudi Ministry of Health has released a set of practical guidelines to help pilgrims manage common injuries and health challenges during Hajj. These tips are part of broader efforts under the Health Sector Transformation Programme and the Pilgrim Experience Programme , both aligned with Saudi Arabia’s Vision 2030 —aimed at improving health outcomes and safety for millions of worshippers taking part in the sacred pilgrimage. Common Injuries During Hajj and How to Handle Them Walking long distances, standing for extended periods, and navigating crowded spaces can lead to various minor injuries during Hajj. The ministry provided clear, easy-to-follow guidance for pilgrims: 1. Choose Proper Footwear Wearing comfortable, supportive shoes is critical. This helps prevent blisters, foot pain, and other mobility issues that may arise from walking on hot or uneven surfaces. 2. […]

Mujahid Yusuf June 9, 2025

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Lifestyle

Group Demands Removal of Sharia References from 1999 Constitution

Civic Group Calls for Full Removal of Sharia Provisions A civil society organization under the End Sharia Now Campaign is pushing for the full removal of all Sharia-related content from the 1999 Nigerian Constitution . The group argues that these clauses threaten Nigeria’s secular foundation and promote legal inequality among citizens. Benson Sunday, convener of the campaign, stated that Nigeria must return to its founding promise: a nation governed by law, equity, and democracy , not religion or tribal ideology. “Nigeria is a proud, diverse nation of over 200 million people,” he said.“We were promised a country where no single faith dictates governance.” Why the Group Is Targeting These Clauses The campaign reviewed the constitution and found that: The word “Sharia” appears 73 times “Grand Kadi” appears 54 times Terms like “Islam” and “Muslim” appear 28 and 10 times , […]

Mujahid Yusuf June 9, 2025

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Events

Tinubu Urges Prayers for Soldiers Fighting Terrorists During Eid-el-Kabir

Tinubu Calls for Prayers for Soldiers Defending Nigeria As Muslims across Nigeria celebrated Eid-el-Kabir (Eid-ul-Adha) 2025 , President Bola Ahmed Tinubu used the occasion to highlight the sacrifices of Nigerian troops and security personnel currently battling terrorists and bandits. Speaking after offering prayers at the Dodan Barracks Eid Ground in Lagos , Tinubu urged Nigerians to remember soldiers and vulnerable citizens in their prayers this Sallah season. “We should remember to pray and give to those who are very vulnerable in the spirit of the season, which is sacrifice.” He added: “We must pray hard for our troops to keep us safe. They are making sacrifices in the challenges that we face from terrorism and banditry today.” A Message Rooted in Sacrifice and Unity The President encouraged citizens to reflect on the true meaning of Sallah —sacrifice, love, and community […]

Mujahid Yusuf June 6, 2025

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Events

COAS Urges Courage, Sacrifice in Defence of Nigeria During Eid-el-Kabir

COAS Encourages Troops To Embrace Courage and Unity In his official Eid-el-Kabir 2025 message , Chief of Army Staff (COAS) Lt. Gen. Olufemi Oluyede praised the Nigerian Army for its resilience, gallantry, and selfless service during difficult times. The statement, read by Army Spokesperson Lt-Col Appolonia Anele , thanked officers, soldiers, and their families for their steadfast commitment to national security. “Your unwavering commitment, selfless devotion, and unflinching resilience in defence of our fatherland are deeply appreciated.” He reminded troops that Sallah is not just a time for celebration but also reflection. The values of sacrifice and obedience during Eid-ul-Adha mirror the daily lives of Nigerian soldiers on the battlefield. Faith and Duty Go Hand-in-Hand The COAS encouraged military personnel and their families to celebrate with gratitude and humility , while renewing their dedication to duty. He urged soldiers to […]

Mujahid Yusuf June 6, 2025

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Finance

FG Reaffirms Nigeria’s Global Leadership in Entrepreneurship at 2025 GEC

Nigeria Reinforces Commitment to Entrepreneurship on Global Stage At the 2025 Global Entrepreneurship Congress (GEC) in Indianapolis, USA , Nigeria once again asserted its role as a leader in entrepreneurship-driven industrial transformation . Minister of State for Industry, Trade and Investment, Senator John Owan Enoh , represented the Federal Government at the event, delivering a strong message about Nigeria’s growing influence in global innovation and SME development . Speaking before an audience of ministers, policymakers, and global innovation leaders, Enoh emphasized that Nigeria sees MSMEs —not just as small businesses—but as key drivers of economic diversification, job creation, and inclusive growth . “With over 39 million MSMEs contributing 84% of total employment, we are investing in national resilience and the architects of our economic future.” Major Reforms Empowering Nigerian Entrepreneurs The Nigerian delegation highlighted several major reforms and initiatives aimed […]

Mujahid Yusuf June 6, 2025

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