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Nigeria

Nigeria’s FX reserves hit $42bn, strongest in six years

Nigeria’s external reserves have climbed to their highest level in six years, crossing the $42bn mark for the first time since September 2019. Latest figures from the Central Bank of Nigeria (CBN) show reserves stood at $42.03bn on September 19, 2025, up from $41.99bn the previous day. This represents a $40m increase in one day and a sharp rebound from earlier lows this year. The last time reserves were higher was on September 26, 2019, when they reached $42.05bn. Since then, reserves have come under pressure from weaker oil prices, high import demand, and foreign capital outflows. Unlike past temporary spikes, the current rally has shown consistency. Reserves have grown for 13 out of 14 trading days in September, gaining $610.8m (1.47%) between September 1 and 19 alone. In the second half of the month, reserves rose by nearly $583m […]

Abdulmumini Auwal SA September 23, 2025

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Nigeria

N’Assembly backs Tinubu’s borrowing policy – Speaker Abbas

The Speaker of the House of Representatives, Abbas Tajudeen, has clarified that the National Assembly is not opposed to President Bola Tinubu’s borrowing policy, affirming that lawmakers support borrowing as a legitimate fiscal tool to fund infrastructure and stimulate sustainable growth. Abbas made this known in Abuja on Monday while delivering the keynote address at the 8th Annual African Network of Parliamentary Budget Offices (AN-PBO) Conference, organised by the National Assembly in collaboration with the National Assembly Budget and Research Office. The conference, themed “The Role of PBOs in African Parliaments’ Fiscal Oversight: Contribution to the African 2063 Development Agenda,” brought together African parliamentarians and fiscal experts. His remarks followed media reports suggesting legislative unease with the administration’s debt strategy, particularly after concerns were raised at the 11th Annual Conference of the West Africa Association of Public Accounts Committees. At […]

Abdulmumini Auwal SA September 23, 2025

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Nigeria

Suspected cultists kill man in Ogun community

Tension gripped Atan-Ota, Ado-Odo-Ota Local Government Area of Ogun State, on Sunday after a suspected cult clash claimed the life of a man identified as Moses. Residents alleged that members of the Aye Confraternity were behind the killing. Disturbing videos from the scene showed the attackers repeatedly striking the victim’s wrist with machetes while boasting in pidgin, “We are the ones in charge.” The footage also captured Moses lying motionless on the ground as the assailants inflicted multiple machete cuts. Another clip showed his lifeless body, with mourners crying out his name in grief. Confirming the incident, the spokesperson for the Ogun State Police Command, CSP Omolola Odutola, told reporters simply: “Yes,” when asked about Moses’ death. Although Ogun State has recorded fewer cult-related clashes in recent months, the killing underscores the persistence of cult violence in the South-West. In […]

Abdulmumini Auwal SA September 23, 2025

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Nigeria

Tinubu: Constitution review will strengthen democracy

President Bola Ahmed Tinubu has pledged his administration’s full support for ongoing constitutional reforms, describing the exercise as vital to deepening Nigeria’s democracy, strengthening institutions, and protecting citizens’ rights. Represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, Tinubu spoke at the National Public Hearing on the Review of the 1999 Constitution in Abuja. He described the review as a “golden opportunity” to entrench good governance, inclusivity, and sustainable development. “The Constitution is the supreme law of the land. It is not static, but a living document that must continually respond to the realities, aspirations, and challenges of our people,” Tinubu said, noting that the exercise aligns with his administration’s Renewed Hope Agenda. The President commended the House of Representatives Constitution Review Committee, chaired by Deputy Speaker Benjamin Kalu, for creating an inclusive platform that […]

Abdulmumini Auwal SA September 22, 2025

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Nigeria

Borno terror attack victims hospitalised in Cameroon

Confusion surrounds the number of military casualties after terrorists attacked the 152 Task Force Battalion in Banki, a border town in Bama Local Government Area of Borno State. Local officials confirmed that at least five civilians were killed in the Thursday night assault, while several others were injured and evacuated across the border to Mora, Cameroon, for treatment. Many residents fled the community in fear of further violence. The attack follows the recent massacre in Darajamal, also in Bama LGA, where 63 people lost their lives. Defence Headquarters spokesperson, Maj. Gen. Markus Kangye, said one soldier died in the Banki incident but stressed that troops held their ground. “It’s true our troops had an encounter with the terrorists in Banki. The troops were not dislodged. There was a serious firefight, and though we lost a soldier, the troops remain at […]

Abdulmumini Auwal SA September 22, 2025

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Nigeria

Nigeria supplies 67.6m barrels of crude to local refineries

The Federal Government says 67,657,559 barrels of crude oil were supplied to Nigerian refineries between January and August 2025. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed the figure, noting that deliveries went to both modular and state-owned refineries such as Waltersmith, Aradel Energy, and Nigerian National Petroleum Company Limited (NNPCL) facilities. Eniola Akinkuotu, Head of Media and Strategic Communications at NUPRC, explained that the supplies were made under the Petroleum Industry Act (PIA) 2021 and the Domestic Crude Supply Obligation (DCSO) policy, which requires producers to reserve a portion of crude for local processors before export. Despite this allocation, refiners received far less than they requested. Industry data shows local plants demanded 123.5 million barrels for the first half of 2025, but only 67.6 million barrels were delivered over eight months—about 45% less than required. Earlier projections suggested that […]

Abdulmumini Auwal SA September 22, 2025

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Nigeria

Nigerian women demand reserved seats in parliament

Hundreds of women marched through Abuja on Monday to demand the passage of a bill that would reserve seats for women in Nigeria’s parliament. The proposed legislation, known as the Special Seats Bill, seeks to create one women-only seat in the Senate and House of Representatives for each of Nigeria’s 36 states and the Federal Capital Territory. If passed, the measure would require a constitutional amendment. Nigeria currently has one of the lowest levels of female representation in Africa, with only four women in the 109-seat Senate and 16 women in the 360-member House of Representatives, according to the Policy and Legal Advocacy Centre (PLAC). Many African countries, including Rwanda and Senegal, have successfully used quota systems to boost women’s participation in politics. “We want the legislature to work for women,” said activist Dorothy Njemanze, one of the organisers, who […]

Abdulmumini Auwal SA September 22, 2025

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Entertainment

Nigeria, China boost ties with film and culture exchange

Nigeria and China have renewed their commitment to strengthening cultural and economic diplomacy through film and creative industries. This pledge was emphasized at a symposium in Lagos themed “Promoting Cultural and Economic Diplomacy Through Film.” The event was organized by the Nigerian Institute of International Affairs (NIIA), the Chinese Consulate General, and other stakeholders. Speaking on behalf of NIIA Director-General Prof. Eghosa Osaghae, Research Professor Femi Otubanjo highlighted the historic role of culture and film in diplomacy, noting how Nollywood and Afrobeats are now reshaping global perceptions of Nigeria.“Today, Nigerian music and Nollywood are taking over arenas worldwide, creating not only cultural influence but also significant economic activities,” he said. Chinese Consul General in Lagos, Yan Yuqing, described film as a “universal language that transcends borders.” She praised Nollywood’s global impact and referenced China’s century-long film tradition and its $6 […]

Abdulmumini Auwal SA September 22, 2025

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Nigeria

NiMet Forecasts 3 Days of Rain, Thunderstorms Nationwide

The Nigerian Meteorological Agency (NiMet) has predicted three days of rainfall and thunderstorms across most parts of the country beginning Monday, September 22. According to NiMet’s weather outlook released on Sunday, isolated thunderstorms and light rains are expected in parts of the northern states, including Adamawa and Taraba, during Monday morning, with similar conditions later in the day across Kaduna, Gombe, Kebbi, Zamfara, Bauchi, Southern Borno, and Taraba. Central Region The central region, including Nasarawa, the Federal Capital Territory, Niger, Plateau, Kogi, and Benue, will experience cloudy conditions with sunshine intervals. NiMet said thunderstorms with light to moderate rainfall are expected from afternoon into evening hours. Southern Region For the southern states, a cloudy atmosphere with sunshine intervals is anticipated in the morning, followed by thunderstorms and moderate rainfall later in the day. Areas likely to be affected include Ebonyi, […]

Abdulmumini Auwal SA September 22, 2025

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Nigeria

Crude Oil Imports Hit Record High as Dangote Refinery Reshapes Nigeria’s Trade Flow

Nigeria’s crude oil imports surged by 26.5% in the first half of 2025, reaching 5,665,602 metric tons, compared to 4,478,413 metric tons in the same period of 2024, according to fresh data from the Nigerian Ports Authority (NPA). The rise has been largely attributed to the 650,000 barrels per day Dangote Petroleum Refinery, which has been sourcing crude oil from countries including the United States, Brazil, Angola, and Equatorial Guinea. Financial Vanguard’s quarterly analysis shows a mixed trend: Q1 2025: Imports dropped to 2,400,553 MT, down 30% from Q1 2024 (3,037,209 MT). Q2 2025: Imports spiked to 3,265,099 MT, a 126% increase compared to Q2 2024 (1,441,204 MT). The Dangote Refinery, which began refining diesel and aviation fuel in January 2024, has since become a key player in both domestic and global energy trade, exporting petroleum products while importing crude […]

Abdulmumini Auwal SA September 22, 2025

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