Author: Adekunle

By Chinedu Obilom Nigeria’s recent decline in petrol prices, framed as a triumph of market competition, has been met with cautious optimism. While consumers celebrate short-term relief, a deeper interrogation of the forces driving this trend reveals a more complex narrative—one rooted in strategic market consolidation rather than genuine competition. The Dangote Group’s entry into Nigeria’s petroleum sector, through its colossal 650,000-barrel-per-day refinery, has been heralded as a game-changer. However, historical precedents, structural market dynamics, and global economic patterns suggest that this price reduction may be less about fostering competition and more about positioning for long-term monopolistic dominance. This…

The Ministry of Foreign Affairs and the United Nations Development Programme (UNDP) Nigeria have reaffirmed their joint commitment to advancing democratic governance across West Africa through the Regional Partnership for Democracy (RPD)—a strategic initiative aimed at promoting inclusive, accountable, and resilient political systems across the sub-region. During a high-level engagement held at the Ministry’s headquarters in Abuja, the Honourable Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar (OON), hosted the UNDP Resident Representative, Ms. Elsie G. Attafuah, for a progress review and strategic dialogue on the RPD initiative. The engagement took place against the backdrop of growing democratic…

Minister of Marine and Blue Economy, Adegboyega Oyetola, yesterday directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to commence the process for the disbursement of the Cabotage Vessel Financing Fund (CVFF), which could see indigenous ship owners accessing more than $400 million in strategic funding. NIMASA, in alignment with the minister’s directive, has immediately issued a Marine Notice inviting eligible Nigerian shipping companies to apply. Qualified applicants can access up to $25 million each at competitive interest rates to acquire vessels that meet international safety and performance standards. The fund will be administered in partnership with approved…

Nigeria’s upgrade by Fitch from negative, to stable is a mark of confidence by the global economic community on the President Bola Ahmed Tinubu far-reaching policy reforms, as well as his economic team. This was contained in a statement by the Global Economic Policy Initiative (GEPIn), on Sunday and signed by its President Mr. Bernard Okri, where the group commended the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun for successfully implementing an overhaul of the country’s economy, which is already bringing results such as increased investments into the country. Fitch Ratings is a global credit…

Contrary to media reports suggesting that a vehicle belonging to the Office of the National Security Adviser (ONSA) was recently stolen in Abuja, sources familiar with the matter have clarified that the vehicle in question was no longer in the custody of the office at the time of the incident. According to reliable government sources, the Hilux truck cited in the reports had been decommissioned and sold more than two years ago through a routine internal auction process. The disposal of the vehicle, they explained, was in line with standard procedures for phasing out aging or non-functional government…

The Nigerian Air Force (NAF) College of Nursing Sciences’ (NAFCONS) has achieved a remarkable 100% pass rate in national nursing license examination, showcasing the institution’s commitment to excellence in nursing education. Commandant of NAFCONS, Squadron Leader Boyi Elisha, announced this during the matriculation ceremony for National Diploma I (Set 6) students of NAFCONS, in Kaduna yesterday. He said the outstanding performance reflects the college’s dedication to producing highly skilled and competent nursing professionals. A statement by Air Commodore Ehimen Ejodame said the Commandant of NAFCONS, thanked the Chief of Air Staff (CAS), Air Marshal Hasan Abubakar, and…

As part of its continued efforts to drive Nigeria’s industrial development through local innovation, the National Agency for Science and Engineering Infrastructure (NASENI) has taken its Made-in-Nigeria campaign to Kebbi State. The agency held a Stakeholder Focus Group Meeting with critical stakeholders to explore practical pathways for enhancing the adoption of Nigerian-made products in households and businesses across the state. The engagement, which aligns with NASENI’s mandate to nurture and grow the nation’s engineering and manufacturing capacity, brought together a diverse range of participants including business leaders, academics, government officials, civil society groups, and industrialists. Discussions at the forum centred…

The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called for accelerated Custom reform across West and Central Africa to strengthen intra-African trade and enhance economic resilience. He made the remarks at the opening of the Fourth Conference of Development Partners of the World Customs Organization for West and Central Africa (WCO-WCA) in Abuja on Wednesday morning. Mr. Edun noted that intra-regional trade accounts for just 12% of the region’s total trade, despite a combined population of 450 million and a GDP approaching $1 trillion. While the Nigerian Customs Service recorded a 90% year-on-year…

Nigeria’s National Security Adviser (NSA), Mallam Nuhu Ribadu, has been credited with playing a critical role in stabilising the country’s currency during a period of intense economic pressure. The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, made this known during a high-level security engagement held in March, jointly organised by the CBN and the Office of the National Security Adviser. Mr. Cardoso explained that the NSA was instrumental in mobilising key government agencies to tackle the multifaceted threats undermining the Naira and the broader financial system. “I really want to commend…

The Coordinating Minister of the Economy Wale Edun has stated that corporate governance can serve as a key lever in President Tinubu’s push to build a $1 trillion economy, urging state-owned enterprises (SOEs) to meet global standards of transparency, ethics, and performance. Speaking at the Ministry of Finance Incorporated (MOFI) Corporate Governance Forum in Abuja on Monday, the Honourable Minister described the newly introduced MOFI Scorecard as a vital benchmark for institutional health—designed to position SOEs for investment, growth, and long-term value creation. “This scorecard is not just a document—it’s a test,” Mr. Edun said. “Strong governance attracts capital,…