Nigeria has stepped up efforts to host the African Union’s (AU) African Monetary Institute (AMI), a key body expected to drive financial integration across the continent. The renewed push was highlighted during the ongoing IMF and World Bank Spring Meetings in Washington DC. Where Nigerian officials reaffirmed their readiness to meet all hosting requirements. The…
Ogun State Governor, Dapo Abiodun, has approved a weekly day off and a ₦10,000 monthly transport allowance for public servants in the state as part of measures to cushion the hardship caused by rising fuel prices. The relief package, which takes effect from April 2026 and will run for three months, was announced in a…
By ALO360 Editorial Board A recent report by the Daily Trust puts Nigeria’s rising debt in simple terms: as of December 2025, the country’s total public debt of N159.28 trillion amounts to about N724,000 per Nigerian. Strip away the figures, and the implication is straightforward — the country is borrowing heavily, and the bill will…
The United States has announced stricter sanctions on Iran oil sector as tensions rise over Tehran’s continued closure of the Strait of Hormuz. The U.S. Department of the Treasury revealed the measures, which target over two dozen individuals, companies. And vessels tied to a shipping network linked to Mohammad Hossein Shamkhani. U.S. Treasury Secretary Scott…
The Federal High Court in Abuja has discharged First Bank of Nigeria Limited from a $8,488,752.88 garnishee proceedings dispute involving NIMEX Petrochemicals Ltd and another party against Conoil Plc. The ruling, delivered by Justice M. Umar on March 31, 2026, obtained by Alo360 on Wednesday and confirmed by the bank’s legal team, led by Michael J. Numa,…
Nigerian airlines have announced plans to suspend operations across the country starting April 20, 2026, due to a sharp increase in Jet A1 fuel prices, which have risen above N3,000 per litre. This development was reported by Channels TV on Wednesday, citing a letter from the Airline Operators of Nigeria (AON) addressed to the Major Energies Marketers…
The Nigerian Electricity Management Services Agency (NEMSA) has been given a two-year deadline to achieve financial independence and exit the federal government payroll, according to the Minister of Power, Adebayo Adelabu. Speaking at the inauguration of NEMSA’s board in Abuja. Adelabu disclosed that the agency had previously faced removal from government funding. However, it granted…
The Central Bank of Nigeria (CBN) is introducing a new approach to resolving loan disputes. It has proposed that creditors and borrowers must first go through a mediation panel before taking their cases to court. This initiative stems from a circular issued by the CBN on Tuesday, inviting stakeholders to review and comment on draft…
The Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has revealed that Nigeria would have spent approximately N52 trillion on fuel subsidies by 2026. This amount represents 76% of the proposed N68 trillion budget for that year. However, the removal of the subsidy has averted this financial strain. Adedeji shared this insight on…
Nigeria has been handed a 20-year Civil Aviation Master Plan (CAMP) by the International Civil Aviation Organization (ICAO). Covering the period from 2025 to 2045, the plan aims to guide the transformation of the country’s aviation sector. The document was officially presented in Marrakech during the ICAO Global Implementation Support Symposium. This was disclosed in…
