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Entertainment

BNXN says living in Lagos is more expensive than living in the US

Nigerian singer and songwriter BNXN (formerly Buju) has said that it is now more expensive to live in Lagos than in the United States, citing the dramatic rise in housing, food, electricity and transportation costs in Nigeria's commercial capital. BNXN made the revelation during an interview, explaining that the cost of maintaining a developed country lifestyle in Nigeria has become extremely high. He noted that while Nigeria is a least developed country, maintaining first-world standards of living there is hard and expensive. The singer explained that for an average person, living in Lagos costs about 6.9 times more than the average salary because imported lifestyle expectations make everyday expenses disproportionately high. This includes housing, food, transport, energy and other essential costs. BNXN's comments highlight the growing economic pressure on Nigerians trying to maintain modern lifestyles in Lagos. The city is […]

Abdulmumini Auwal SA June 10, 2026

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Nigeria

 Dangote Revives Massive Olokola Deep Seaport Plan in Ogun

Aliko Dangote has reactivated plans to build a major deep seaport at Olokola in Ogun State, reviving a stalled project that is expected to be one of Nigeria’s largest port developments. The proposed Olokola deep seaport will sit within the Olokola Free Trade Zone and is designed to handle large vessels and heavy cargo. It is expected to support exports of fertiliser, petrochemicals and, in the future, liquefied natural gas, while also improving the importation of equipment and raw materials for Dangote’s industries. Dangote has already submitted key paperwork to the authorities to move the project forward, after getting renewed support from the Ogun State government and the Federal Government. The port site is planned to be about 100 kilometres from his refinery and fertiliser facilities around Lagos, creating a direct logistics corridor between the plants and the Atlantic coast. […]

Abdulmumini Auwal SA May 20, 2026

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Nigeria

Report shows Nigeria’s economy rebounding strongly

Nigeria’s economy is on a clear recovery path after years of stagnation, with a new report by Quartus Economics indicating that key indicators have recorded their strongest improvement in more than a decade. The study, obtained by The Nation, concludes that “Nigeria is rising” and that the economy is back on track, even though growth still needs to be faster and more broad based. According to the report, Nigeria’s Gross Domestic Product grew by a cumulative 8.34 percent between 2024 and 2025, the highest two year expansion in over ten years. This pace also outperformed population growth, which was estimated at less than 4.4 percent over the same period, reversing earlier years when the population was growing faster than the economy. Between 2020 and 2023, GDP growth averaged just 0.97 percent, while the population increased by about 8.78 percent, leading […]

Abdulmumini Auwal SA May 4, 2026

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Nigeria

Report shows Nigeria’s economy rebounding strongly

Nigeria’s economy is on a clear recovery path after years of stagnation, with a new report by Quartus Economics indicating that key indicators have recorded their strongest improvement in more than a decade. The study, obtained by The Nation, concludes that “Nigeria is rising” and that the economy is back on track, even though growth still needs to be faster and more broad based. According to the report, Nigeria’s Gross Domestic Product grew by a cumulative 8.34 percent between 2024 and 2025, the highest two year expansion in over ten years. This pace also outperformed population growth, which was estimated at less than 4.4 percent over the same period, reversing earlier years when the population was growing faster than the economy. Between 2020 and 2023, GDP growth averaged just 0.97 percent, while the population increased by about 8.78 percent, leading […]

Abdulmumini Auwal SA May 4, 2026

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Nigeria

Dangote Group denies rift with Elumelu, warns of legal action

The Dangote Group has denied reports of a rift between its president, Aliko Dangote, and Tony Elumelu, chairman of the United Bank for Africa, describing the claims as false and malicious. The company said neither Dangote nor the group made any statement suggesting a fallout with Elumelu or disagreements over business dealings. In a statement issued by the group’s spokesperson, Anthony Chiejina, the conglomerate also dismissed viral claims that the Dangote Petroleum Refinery and Petrochemicals project was funded through personal loans from friends. It described such assertions as a misrepresentation of how the multibillion dollar project was financed and challenged those spreading the story to provide verifiable evidence. The company stressed that Aliko Dangote does not rely on borrowing from friends to fund his investments. It added that suggestions that the refinery is struggling financially or dependent on emergency personal […]

Abdulmumini Auwal SA May 3, 2026

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Nigeria

Edun urges developing nations to act early against global shocks

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has urged developing countries to take early, proactive steps to shield their economies from global shocks, warning that poor policy choices could derail reforms and worsen inflation. Speaking at a G24 news conference on the sidelines of the IMF meetings in Washington, D.C., Edun said today’s uncertain global environment demands careful, balanced decisions, especially in vulnerable developing economies. He cautioned that raising interest rates too quickly could undermine ongoing reforms, while delayed action could allow inflation to spiral. He noted that central banks in developing countries face tough choices as they navigate energy crises, geopolitical tensions and supply chain disruptions that are driving up the cost of fuel, fertiliser and food. While oil‑exporting nations may benefit from higher prices, he stressed that both oil producers and importers are battling […]

Abdulmumini Auwal SA April 15, 2026

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Nigeria

Northern youths back NASS on pipeline security deal

Northern youths under the Arewa Youth Consultative Forum have praised the National Assembly joint committee on Petroleum Resources for endorsing the pipeline surveillance contract handled by Tantita Security Services. AYCF president Yerima Shettima said in a statement that the parliament’s decision to dismiss petitions against Tantita and support the continuation and possible expansion of its contract is patriotic and should be commended by all Nigerians. Shettima said the lawmakers showed they understand the realities on the ground, noting that pipeline vandalism has dropped significantly under Tantita’s watch and warning that the issue should not be politicised. He commended the leadership of the House Committee on Petroleum Resources Downstream, chaired by Ikenga Imo Ugochinyere, and its Senate counterpart for what he called a transparent and inclusive engagement with stakeholders in the oil and gas sector. According to him, rejecting calls to […]

Abdulmumini Auwal SA April 9, 2026

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Nigeria

Nigerians Ration Power, Queue For Fuel As Petrol Hits N1,500

Nigerians are facing a fresh wave of hardship as petrol prices climb to around N1,500 per litre in many parts of the country. The spike has come at a time of poor electricity supply, forcing households and businesses to ration power and battle long queues at filling stations. Over the past three weeks, the pump price of petrol has risen by more than N500 in some locations. In major cities, motorists report paying between N1,300 and N1,500 per litre, with some independent marketers selling even higher. The higher prices are linked to rising global crude oil costs, pressure on the naira, and Nigeria’s continued dependence on imported refined products. Labour unions, economists, and business groups warn that the situation is fuelling inflation, closing businesses, and worsening poverty. Many residents now limit generator use to a few hours at night or […]

Abdulmumini Auwal SA March 29, 2026

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Nigeria

Iran war may force Nigerians back to working from home – Dangote

Chairman and CEO of Dangote Group, Aliko Dangote, has warned that the ongoing Middle East crisis could push Nigeria and other African countries back to work from home arrangements similar to those used during COVID 19. He said the conflict, involving Iran, Israel and the United States, is driving oil price volatility that could worsen economic hardship across the continent. Dangote spoke after a meeting with President Bola Tinubu at the President’s Ikoyi residence in Lagos. He expressed concern that many African countries have little or no financial reserves to cushion the impact of rising energy costs and global supply disruptions.​ He noted that some countries are already asking people to work from home or reducing work days because they cannot afford high fuel costs. Citing Indonesia as an example, he said workers there now go to the office four […]

Abdulmumini Auwal SA March 24, 2026

Nigeria

FG weighs options as Iran war pushes petrol above N1,000

The Federal Government is assessing its economic and diplomatic options as the war involving Iran, the United States and Israel begins to hit Nigerians through higher fuel prices and fresh pressure on the economy. Officials are closely tracking developments in the Middle East, where attacks on oil facilities, shipping disruptions and tensions around strategic waterways have driven up global crude prices. The conflict has already pushed Brent crude well above Nigeria’s 2026 budget benchmark, raising both risks and opportunities for Africa’s largest oil producer. On the domestic front, petrol prices have crossed or neared N1,000 per litre in many locations, with queues reappearing at filling stations across parts of the country. Marketers and analysts link the spike to higher international crude and freight costs, as well as supply constraints and the impact of the conflict on global refinery output and […]

Abdulmumini Auwal SA March 8, 2026

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