Author: Ogochukwu Ndubuisi

INEC Registers 2 New Political Parties, DLA, NDC The Independent National Electoral Commission (INEC) has registered two new political parties. The registration has increased the total number of registered parties in Nigeria to 21. INEC Chairman, Prof. Joash Amupitan, disclosed this during the commission’s quarterly consultative meeting with leaders of political parties in Abuja. The two new parties according to Amupitan are Democratic Leadership Alliance (DLA) and Nigeria Democratic Congress (NDC). He explained that DLA was registered, being the only association out of the 171 associations seeking INEC registration as political parties, and that NDC was registered in obedience to…

ADC Faults Senate’s Rejection of e-Transmission of Results African Democratic Congress (ADC) has faulted the refusal by the Senate to approve electronic transmission of election results and voter card downloads aimed at giving credibility to future elections and INEC’s efficiency. This is contained in a statement issued by its National Publicity Secretary, Mallam Bolaji Abdullahi, on Thursday in Abuja. Abdullahi condemned the senate for rejecting Electoral Act reforms, warning that the development threatens election credibility in Nigeria. The party also faulted the decision by the upper chamber to reduce election notice periods and shorten the timelines for the publication of…

Russia Expels German Diplomat in Tit-for-Tat Move Russia has declared a staff member of the German embassy in Moscow persona non grata in response to Germany’s expulsion of a Russian diplomat from Berlin. In a statement released on Thursday, Russia’s Foreign Ministry said the German ambassador’s representative had been summoned and informed of the decision. German Foreign Minister Johann Wadephul criticised the move, calling the expulsion of the diplomat “completely unacceptable” and lacking any factual basis. Speaking on the sidelines of a visit to Brunei, Wadephul said the expelled staff member was part of the military attaché staff at the…

FG Seeks Increased Local Tyre, Battery Production to Cut Imports The Federal Government has called for increased local production of tyres and batteries to reduce Nigeria’s dependence on imports and conserve foreign exchange. The Director-General, National Automotive Design and Development Council (NADDC), Mr Joseph Osanipin, made the call at a Sensitisation Workshop for Nigeria Tyre and Battery Industry, on Thursday in Abuja. The theme of the workshop was, ” Revitilising the Automotive Value Chain in Nigeria: Strategies for Growth in the Tyre and Battery Sectors”. Osanipin said that Nigeria had the capacity, raw materials and market size to produce tyres…

Nigeria’s Senate Rejects Mandatory E-Transmission of Election Results The Nigerian Senate has rejected proposals for the electronic transmission of election results and a 10-year ban on vote buyers, opting instead to maintain existing sanctions of fines or jail terms. The Senate retained the provision for electronic transfer of election results as contained in the Electoral 2022 Act, rejecting a proposal that would have made real-time electronic transmission compulsory . The rejected provision, recommended by the Senate Committee on Electoral Matters, proposed sanctions ranging from a fine of ₦5 million to a two-year imprisonment and a 10-year ban from contesting elections…

MTN to Acquire Controlling Stake in IHS Holdings, Eyes Full Ownership MTN Group, Africa’s largest mobile network operator, is in advanced discussions to acquire the remaining 75% stake in IHS Holdings Limited, aiming to gain full ownership of the tower infrastructure company. The potential deal could be priced near IHS’s last trading value on the New York Stock Exchange as of February 4, 2026. MTN, like many operators, has relied on third-party tower companies such as IHS to host its network equipment. IHS Towers, founded in Nigeria in 2001, has grown from a homegrown startup into one of the world’s…

Downstream Deregulation, Forex Reforms Save Nigeria N6trn Fuel Import Losses – NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the cumulative impact of full downstream deregulation and forex reforms has saved Nigeria over N6 trillion in fuel import losses. Mr Saidu Mohammed, Chief Executive, NMDPRA, who made this known at the ongoing Nigeria International Energy Summit (NIES) 2026, in Abuja, said this was in first nine months of 2025. Delivering a keynote address at the Mid/Downstream Transformation Debate with the theme ”Driving Nigeria’s Downstream Renaissance: Regulation, Investment, and Market Confidence”, Mohammed attributed much of the sector’s progress…

NGX Climbs by N1.37trn as Investors Ramp Up Oversold Stocks The Nigerian Exchange (NGX) ended the trading session on a positive note on Wednesday, reflecting increased bargain-hunting stocks that recently nosedived. Investors re-entered positions in oversold stocks across sectoral indices amidst earnings announcements. Hence, the All-Share Index (ASI) edged higher by 1.28% to 168,030.18 points, supported by gains in BERGER, DAARCOMM, FTGINSURE, RTBRISCOE, and FIRSTHOLDCO. Due to bargain hunting, market capitalization expanded by 1.28%, gaining ₦1.37 trillion to close at ₦107.86 trillion. Market sentiment was favorable at 2x, with 53 gainers outpacing 26 losers. The gainers list was led by…

Dangote Refinery Denies Finished Petrol Product Imports Claim Dangote Petroleum Refinery & Petrochemicals (DPRP) has denied reports suggesting that it imports finished petroleum products, describing the claims as incorrect and based on a misunderstanding of global refinery operations. As a state-of-the-art, large-scale merchant refinery, DPRP said it refines crude oil and processes intermediate feedstocks into premium petroleum products and petrochemicals that meet the highest international standards. Speaking during a media briefing at the refinery, the Chief Executive Officer and Managing Director, David Bird, explained that processing intermediate or semi-processed materials is a standard practice within the global refining industry. He…

FBNQuest Merchant Bank Rebrands as Quest Merchant Bank FBNQuest Merchant Bank has officially changed its name to Quest Merchant Bank Limited, following the receipt of all necessary corporate and regulatory approvals. This move marks a significant milestone in the bank’s history, reflecting its resilience, strong track record, and long-term growth ambitions. According to Acting Managing Director and CEO, Afolabi Olorode, the name change is part of a deliberate strategic repositioning to strengthen the bank’s identity, reinforce its market presence, and support long-term growth. The rebranding doesn’t affect the bank’s legal status, operations, management structure, or scope of services, and it…