Author: Ogochukwu Ndubuisi

Abia Won’t Get Paid for Fixing Federal Roads – Otti Gov. Alex Otti has put to rest speculations about Abia seeking reimbursement for federal road projects executed by the state, saying that the Federal Government has no plan to pay back. Speaking at his monthly media interactive session with newsmen, on Friday night, Otti said the new Federal Government’s policy was that states could toll such roads, “if they want their money back”. He sympathised with those peddling the rumour about reimbursement, saying they were speaking out of ignorance. He reiterated his administration’s commitment to fixing all Abia roads, federal…

Market Wrap: NGX Shrinks on Pre-Earnings Stock Selloffs The Nigerian Exchange (NGX) market capitalisation shrank by about N157 billion week-on-week to N128.97 trillion as investors adjusted their positions ahead of the first-quarter 2026 earnings release. The local bourse closed the week on a mildly negative note, as cautious sentiment weighed on trading. Stockbrokers notice profit-taking and portfolio rebalancing ahead of the first quarter earnings season. Simply put, many investors chose to secure earlier gains rather than take fresh positions, Cowry Asset Management Limited said in a commentary note. Trading data revealed that the benchmark index declined marginally by 0.12% week-on-week…

Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, says Nigeria’s economy has been “reset” following bold reforms initiated by the President Bola Tinubu-led administration.

NGX Slips over Selloffs in MTN Nigeria, FirstHoldco The Nigerian Exchange (NGX) All-share index (ASI) slipped slightly as MTN Nigeria, First Holdco, and other mid- and large-cap stocks retreated after a string of gains. The Nigerian equity market closed the week in negative territory, as key market performance indicators both recorded a marginal decline of 0.02%. Stockbrokers at Atlass Portfolio Limited said in its investor’s note that the market retreat was triggered primarily by profit-taking activities in some recently appreciated medium-cap and blue-chip stocks. Stockbrokers acknowledge that prices of MTNN, ZENITHBANK, FIRSTHOLDCO, among others, have depreciated due to selling pressures.…

Petrol Price Stands at N1,051.47 Per Litre in February – NBS The National Bureau of Statistics (NBS) says the average retail price of a litre of petrol witnessed a slight increase from N1,034.76 in January to N1,051.47 in February. The NBS said this in its Premium Motor Spirit (Petrol) Price Watch for February released in Abuja on Friday. It said that the February price of N1,051.47 represented a 1.62 per cent increase over the price of N1,034.76 recorded in January. It, however,said that the average retail price of petrol decreased on a year-on-year basis from N1,245.80 recorded in February 2025…

Total Capital Importation Rises to $6,443.48m in Q4 2025  The National Bureau of Statistics (NBS) says total capital importation in Nigeria stood at 6,443.48 million dollars in quarter four(Q4) 2025. The NBS said in its  Nigeria Capital Importation Q4 2025 report released in Abuja on Friday. The report said the Q4  figure was higher than the 5,089.16 million dollars recorded in Q4 2024, indicating an increase of 26.61 per cent on a year-on-year basis. “When compared to the preceding quarter, capital importation also increased by 7.13 per cent from 6,014.77 million dollars in Q3 2025.” It said the largest capital…

Power Sector Reforms Attract $2bn Investments – Adelabu The Minister of Power, Mr Adebayo Adelabu, says power sector reforms have attracted over two billion dollars in fresh investments into the industry. Adelabu said this in Abuja on Thursday during the commissioning of the new headquarters of the Nigeria Electricity Liability Management Company (NELMCO). He said that the sector’s revenue grew by 70 per cent in 2024, while government liabilities were reduced by about N700 billion, reflecting improved efficiency and cost recovery mechanisms. The minister said that the sweeping reforms and measurable progress in the sector were achieved under the Renewed…

NCC Unveils New Digital Security to Curb Fraudulent Transactions The Nigerian Communications Commission (NCC) has introduced a new regulation, named “Telecommunications Identity Risk Management System (TIRMS)” platform, aimed at boosting digital security nationwide. The Executive Vice-Chairman (EVC) of the NCC, Dr Aminu Maida, made the disclosure on Thursday in Abuja while delivering his keynote address. Maida said that TIRMS would curb fraudulent transactions in the nation’s digital ecosystem. The one-day stakeholder forum on TIRMS had attendees drawn from the telecommunications industry. Maida, represented by the Executive Commissioner, Stakeholders Management (ECSM) Ms Rimini Makama, said that the Mobile Station International Subscriber…

Court Orders Arrest of Tanimu Turaki, PDP Factional National Chairman  An Abuja High Court on Thursday issued a bench warrant for the arrest of the factional National Chairman of the Peoples Democratic Party (PDP), Sen Tanimu Turaki, SAN. Justice Peter Kekemeke issued the warrant, after Turaki failed to attend court for his arraignment. The Inspector-General of Police (IGP) charged Turaki with giving false information to the police. When the case was called, the prosecution counsel, Usman Rabiu said the business of the court for the day was for Turaki to enter his plea. Rabiu noted that the defendant was absent…

Equity Investors Post Gain as Nigerian Exchange Index Surges Equity investors posted additional gains on Thursday as the Nigerian Exchange (NGX) closed the session on a positive note, buoyed by key performance indicators rising by 0.02%. Though decliners outnumbered advancers, the market’s slight upturn highlighted positive sentiment. The market recorded sustained bargain hunting in selected medium- and large-cap stocks across key sectors. Consequently, the All-Share Index added 32.14 basis points to close at 200,957.89. Likewise, market capitalisation gained ₦20.63 billion to close at ₦129 trillion. Additionally, market activity was up today, with total trade volume and total value traded increasing…