Category: Nigeria News

UK Faces 1976-Style Crisis, Kemi Badenoch Cautions

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In a BBC interview  on Tuesday, Conservative leader Kemi Badenoch warned that Britain is at risk of a humiliating IMF bailout, drawing comparisons to the 1976 sterling crisis. She expressed deep concern that, in the absence of a strong plan for economic growth, the UK may experience a recurrence of the situation in which Jim Callaghan’s Labour government obtained a $3.9 billion IMF loan to support the pound almost fifty years ago. Badenoch accused Prime Minister Keir Starmer’s administration of plunging the country into a “doom loop” of rising taxes,…

NUPENG Shuts Down Depots Amid Stalled Talks with FG, Dangote

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Despite the Federal Government’s role in promoting reconciliation through the Ministry of Labour, Employment, and Productivity, negotiations between the leadership of the National Union of Petroleum and Natural Gas Workers and representatives of Dangote Petroleum Refinery continued for several hours on Monday night. This occurred on Monday as NUPENG officials halted fuel loading operations at petroleum depots across the country in protest of Dangote Petroleum Refinery’s purported ban on worker unionism. Despite intentions for all parties to sign a Memorandum of Understanding to immediately resolve the protracted conflict, the meeting,…

TUC Threatens Strike as OPS Rejects New 5% Fuel Surcharge

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If the federal government (FG) does not abandon the proposed five percent tax on petroleum goods, the Trade Union Congress (TUC) has vowed to conduct a statewide strike within two weeks. Additionally, the government’s proposal to impose a five percent fuel levy has been rejected by the organized private sector, which emphasizes that its implementation would exacerbate inflation across the country. Following days of anticipation that the fee may go into force in January 2026, the Trade Union Congress made its announcement. In a nation where fluctuations in fuel prices…

Port Harcourt-Aba Train to Resume Service After Maintenance

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According to the Nigerian Railway Corporation, trains on the Port Harcourt-Aba sector will start running normally again on Tuesday. Dr. Onyedikachi Onovo, the Eastern District’s District Public Relations Officer, made this announcement on Monday in Enugu on behalf of the NRC management. According to the News Agency of Nigeria, on September 5, Dr. Kayode Opeifa, the Managing Director of the NRC, announced that the train service from Port Harcourt to Aba had been suspended for regular maintenance. According to Onovo, “a social media video featuring Port Harcourt-Aba Train Service passengers…

PENGASSAN Joins NUPENG, Threatens Dangote Refinery Shutdown

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In support of the Nigeria Union of Petroleum and Natural Gas Workers’ efforts to unionize tanker drivers and all other workers at the Dangote refinery and its affiliated businesses, the Petroleum and Natural Gas Senior Staff Association of Nigeria has expressed solidarity. In response to claims that the Dangote refinery intended to prevent the drivers hired for its 4,000 trucks from joining the union, NUPENG announced its decision to cease loading fuel today. “On behalf of the Petroleum and Natural Gas Senior Staff Association of Nigeria, we are writing to…

APC: China’s Acceptance of Naira Is an Economic Boost for Nigeria

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2027 Election: APC Responsible For Divisions, Crisis Within Opposition Parties – NNPP Alleges

China’s decision to accept Nigerian Naira for transactions has been hailed by the Lagos State Chapter of the All Progressives Congress  APC as a significant step in the nation’s economic diplomacy and a boost to President Bola Tinubu’s recovery efforts. Seye Oladejo, the party’s spokesperson, said in a statement released on Monday that the policy will immediately alleviate entrepreneurs, importers, and manufacturers by reducing Nigeria’s excessive reliance on the US dollar for international trade. He claims that the action will boost the Naira, lessen pressure on the foreign exchange market,…

CBN: Lending Rates Expected to Fall as Inflation Eases

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As inflation continues to decrease, Mr. Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), has signaled that lending rates may drop in the upcoming months, boosting optimism for better credit availability and more robust investment flows. During a fireside talk at the European Business Chamber’s (Eurocham Nigeria) C-Level Forum in Lagos on Saturday, Cardoso provided the assurance. The CBN reiterated its commitment to macroeconomic stability, a more robust banking industry, and establishing Nigeria as a premier investment destination in a statement released on Sunday. The CBN governor…

Labor Leaders Demand New Minimum Wage, Call N70,000 Insufficient

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Following the bold actions taken by several states across the nation to raise their workers’ minimum wages above the N70,000 benchmark in response to the prevailing economic realities, the Nigeria Labour Congress (NLC) and federal government workers have demanded an urgent review of the national minimum wage, arguing that the current 70,000 is no longer sustainable. The labour unions and workers who spoke to the News Agency of Nigeria (NAN) in separate interviews argued that the N70,000 minimum. As you may remember, in July 2024, President Bola Tinubu signed the…

Nigeria can overcome corruption – EFCC chairman

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In order to completely eradicate corruption in Nigeria, the Economic and Financial Crimes Commission (EFCC) has advised citizens to adopt a culture of accountability and openness. At the 12th annual conference of the Association of Communication Scholars and Professionals of Nigeria (ACSPN) in Effurun, Delta, Mr. Ola Olukayode, the Chairman of the EFCC, issued the call. Mr. Williams Oseghale, an Assistant Commander and Head of Public Affairs for the Commission’s Benin Zonal Directorate, attended the ceremony on behalf of the anti-graft chairman. According to the News Agency of Nigeria (NAN),…

Nigeria’s Non-Oil Revenue Soars 40% to ₦20.6 Trillion

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According to the Presidency, Nigeria is on course to reach its yearly goal for non-oil earnings. The President’s Special Adviser on Information and Strategy, Bayo Onanuga, issued a statement on Wednesday that included new data indicating a dramatic increase in collections due to tax compliance, fiscal reforms, and digitalized revenue systems. “Nigeria’s Non-oil Revenues Power Strongest Fiscal Performance In Recent History” was the title of the statement. Non-oil revenues increased to N20.59 trillion from January to August 2025, up 40.5% from N14.6 trillion in the same period in 2024, according…