Nigeria

The Nigerian naira continued its upward trajectory against the US dollar, buoyed by a significant rise in the country’s external reserves. Financial analysts attribute the currency’s appreciation to increased foreign inflows and improved confidence in Nigeria’s monetary policies. This development signals a positive shift in the foreign exchange market and offers hope for economic stability.

The Nigerian National Petroleum Company Limited (NNPCL) has announced an increase in the pump price of fuel across the country. While the company has yet to release an official statement detailing the new pricing structure, the adjustment has already begun reflecting at various filling stations. The move is expected to impact transportation and commodity costs, sparking reactions from consumers and stakeholders in the downstream sector.

The Bank of Industry (BoI) has revealed that the disbursement of the ₦75 billion loan facility to Micro, Small, and Medium Enterprises (MSMEs) is being delayed due to incomplete documentation by applicants. The bank urged prospective beneficiaries to ensure proper submission of required documents to speed up the loan approval and disbursement process.

Amid swirling reports of his alleged resignation, Mr. Bayo Ojulari, Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, has called on Nigeria and other African nations to define their own independent course in the global energy transition.

The Ogun State chapter of the Peoples Democratic Party (PDP), along with its 2023 governorship candidate, Ladi Adebutu, has formally endorsed President Bola Ahmed Tinubu as its preferred candidate for the 2027 presidential election—despite Tinubu being a member of the opposition All Progressives Congress (APC).

In a striking display of political influence, loyalists of the Minister of the Federal Capital Territory (FCT), Nyesom Wike, have secured chairmanship tickets across both the Peoples Democratic Party (PDP) and All Progressives Congress (APC) ahead of the August 31 local government elections in Rivers State.

The League of Airport and Aviation Correspondents (LAAC) has finalised plans for its 29th Annual Conference, with a strong focus on addressing Nigeria’s pressing aviation financing challenges.

Nigeria is currently sitting on 220 unlicensed oil blocks scattered across its onshore and offshore basins, a new report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed — a paradox in a country grappling with ballooning debt and persistent crude shortages affecting its domestic refining sector.

Labour Party’s 2023 presidential candidate, Peter Obi, has reignited political debate with his renewed pledge to serve only one term if elected president in 2027—a vow that has triggered sharp criticism from the All Progressives Congress (APC), divided reactions within his own party, and public ridicule from Anambra State Governor, Chukwuma Soludo.

The Federal Government has downplayed speculations about a potential political alliance between former Vice President Atiku Abubakar and Labour Party presidential candidate Peter Obi, insisting that the merger poses no threat to President Bola Tinubu’s re-election prospects in 2027.