Troops of the Nigerian Army have arrested 15 individuals suspected of attempting to steal crude oil from a Dangote refinery supply vessel in Lagos. However, The arrest announced in an operational report released on Friday in Abuja. Also, According to the News Agency of Nigeria (NAN), the suspects apprehended in the early hours of the…
Airtel Nigeria has announced a temporary halt to its airtime and data credit services. This makes it the second major telecom operator in the country to suspend such offerings, following new regulatory requirements for digital lending. In a statement signed by Femi Adesina, Director of Corporate Communications and CSR, Airtel explained that the suspended services…
President Tinubu has signed the 2026 Appropriation Bill into law, approving a total budget of ₦68.32 trillion for the fiscal year. In addition, the President approved a bill extending the implementation period for the capital component of the 2025 budget. This extension moves the deadline from March 31, 2026, to June 30, 2026. According to…
Aliko Dangote, Africa’s richest man, is preparing to list about 10% of his oil refining company on multiple African stock exchanges. This move aims to raise funds for the next phase of expansion across his industrial empire. The listing will involve Dangote Petroleum Refinery and Petrochemicals FZE, with Dangote confirming that shareholders will receive dividends in…
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stated that the country has no intention of seeking IMF loans International Monetary Fund, even as fiscal pressures mount. Edun shared this during a press briefing on Thursday at the ongoing IMF-World Bank Spring Meetings in Washington, DC. Key Highlights from the…
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,…
