State Department Issues Fresh Warning The United States Department of State has warned Americans owing more than $2,500 in child support that they could lose their passports. The agency said federal regulations prevent affected individuals from obtaining or renewing a US passport until they clear the debt. Debtors Risk Losing Valid Passports According to the…
Lawmakers Back Spending Plan for Abuja Development The Senate of Nigeria has approved the 2026 Statutory Appropriation Bill for the Federal Capital Territory, with a total budget of ₦2.285 trillion. Lawmakers passed the bill after reviewing a harmonised report from both chambers of the National Assembly. Budget Breakdown Highlights Capital Projects Austin Akobundu presented the…
Expansion Into Power Sector Announced Africa’s leading industrialist, Aliko Dangote, has announced plans to expand into the power sector. He aims to generate up to 20,000 megawatts of electricity across Africa. Dangote shared this vision during a meeting with Maktar Diop at the International Finance Corporation headquarters. The discussion focused on investment opportunities and Africa’s…
State Moves to Boost Power Supply The Enugu State government has announced plans to build a 660-megawatt coal-fired power plant. Governor Peter Mbah said construction will begin in July. He shared the update during a meeting with the Organised Private Sector Nigeria in Enugu. Project Targets Economic Growth Mbah said the project supports his plan…
Danjuma Goje, senator representing Gombe Central, says Nigeria should hand over the management of its electricity sector to China for about 20 years to achieve stable power supply. Goje spoke on Wednesday during the senate confirmation hearing of Joseph Tegbe. The former Gombe governor said repeated interventions across different segments of the power sector had…
Taiwo Oyedele, Minister of Finance and coordinating minister of the economy, says the federal government will not reintroduce fuel subsidy, insisting that the policy distorted Nigeria’s economy. Oyedele spoke in Paris during an investment meeting with international investors held as part of Bola Ahmed Tinubu’s visit to France. According to him, the Tinubu administration remains…
Joseph Tegbe, minister-designate for power, says Nigerians will begin to see clear improvements in the electricity sector within three months if he is sworn in. Tegbe spoke on Wednesday during his screening at the Senate. The upper legislative chamber later confirmed him as minister of power. His nomination followed the resignation of Adebayo Adelabu, former…
Agencies Move to Strengthen Consumer Protection The Federal Competition and Consumer Protection Commission and National Agency for Food and Drug Administration and Control have signed a Memorandum of Understanding to improve consumer protection and fight unsafe products in Nigeria. Both agencies signed the agreement in Abuja on Wednesday. Partnership Targets Regulatory Gaps The agreement aims…
Currency Strengthens in Official Market The Nigerian naira recorded a modest gain against the United States Dollar on Wednesday, May 6, 2026. The improvement appeared in both the official and parallel markets. Data from the Central Bank of Nigeria showed the naira trading around ₦1,362 per dollar in the Nigerian Foreign Exchange Market (NFEM). This…
Crude Prices Fall on De-escalation Hopes Global oil prices declined sharply after reports suggested that the United States and Iran are close to reaching a peace agreement. West Texas Intermediate (WTI), the US benchmark, fell by about 10% in early trading before recovering slightly to trade near $94 per barrel. Brent crude also dropped, trading…
