Author: Ogooluwa Aremu

Ogooluwa Aremu is a business journalist at MarketForces Africa covering Nigeria's energy sector, macroeconomic policy, African continental affairs, cryptocurrency markets, and foreign exchange developments.His reporting spans Nigeria's oil and gas regulatory landscape, including coverage of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigeria International Energy Summit, and the downstream deregulation reforms reshaping Nigeria's petroleum sector. He also reports general market, Nigeria's fiscal reforms, World Bank and IMF engagements with Nigeria, and President Tinubu's economic policy initiatives.Ogooluwa covers Africa-wide developments through MarketForces Africa's Inside Africa desk, reporting on the African Union summits, continental economic policy, and cross-border developments affecting investment and trade across Sub-Saharan Africa.His cryptocurrency and forex market coverage tracks major digital assets, including Bitcoin, Ethereum, and Ripple, alongside. Nigeria's interbank FX market movements. He has covered major stories, including the African Union's 39th Ordinary Session in Addis Ababa, Nigeria's N6 trillion fuel import savings from deregulation, and the World Bank's assessment of Nigeria's economic reform programme. Ogooluwa Aremu is based in Lagos, Nigeria.

NNPP Dismisses Kwankwaso’s Claim of External Influence in Party Exit The New Nigeria Peoples Party (NNPP) on Sunday reacted to claims by its 2023 presidential candidate, Sen. Rabiu Kwankwaso, that his exit from the party was externally influenced. Kwankwaso, in a statement on Saturday, addressed what he described as “misleading narratives” in the public domain about his decision to leave the African Democratic Congress (ADC) and said that ongoing discussions about a possible realignment within the party over its crisis were premature. Kwankwaso drew parallels between the ADC’s current predicament and the circumstances that led to his exit from the…

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Peter Obi Quits ADC, Blames Toxic Political Environment, Internal Crisis Former Anambra Governor, Mr Peter Obi has announced his exit from the African Democratic Congress (ADC), citing worsening internal crises, external interference and growing hostility within party structures. He made the disclosure in a statement issued on his behalf by his media aide, Valentine Obienyem, on Sunday in Abuja. Obi described Nigeria’s political environment as increasingly toxic, marked by intimidation, insecurity and persistent scrutiny against individuals committed to sincere public service. He lamented that institutions established to protect citizens now often work against them, while those pursuing genuine leadership face…

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Rep Quits ADC Over Leadership Crisis Leke Abejide, member representing Yagba Federal Constituency, Kogi, has left the African Democratic Congress (ADC), citing what he described as the party’s hijack by coalition leaders. In a statement issued on Friday in Lokoja, Abejide said the party had been overtaken by vested interests. He accused David Mark, Rauf Aregbesola, and Ralph Nwosu of hijacking the platform. Abejide said he joined the party in 2019 and invested personal resources in strengthening its structures. He described his resignation as “painful but necessary” to safeguard his political future. According to him, the party had been infiltrated,…

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Tinubu Nominates Tegbe as Power Minister President Bola Tinubu has nominated Mr Joseph Tegbe as Minister of Power, subject to confirmation by the Senate. The nomination has been transmitted to the Senate for screening and confirmation in accordance with the Constitution. This is contained in a statement issued by Presidential Spokesperson, Mr Bayo Onanuga, on Thursday in Abuja. The nomination follows the resignation of the former minister, Mr Adebayo Adelabu, who stepped down to pursue elective office. Tegbe, from Oyo State, is a fiscal and economic reform expert with over 35 years of experience across the public and private sectors.…

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South African Rand Slips as Fed Keeps Rates, Oil Rises The South African rand slipped against the US dollar, the euro, and the British pound on Thursday as oil prices spiked, while the US Federal Reserve kept rates unchanged. The rand is at R16.89 to the US dollar, R19.69 to the euro, and R22.74 to the pound, with its movement largely influenced by investor caution following the US Fed’s hawkish pause, which has rippled across emerging-market currencies, First National Bank (FNB) said in a morning brief. In a report, Fitch said between 27 February and 24 April, the largest depreciations…

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NBS Says Petrol Increased to N1,288.54 Per Litre in March The National Bureau of Statistics (NBS) says the average retail price of a litre of petrol witnessed an increase from N1,051.47 in February to N1,288.54 in March. The NBS said this in its Premium Motor Spirit (Petrol) Price Watch for March, released in Abuja on Tuesday. It said that the March price of N1,288.54  represented a 22.55  per cent increase over the price of N1,051.47  recorded in February. The report said that the average retail price of petrol also increased on a year-on-year basis from N1,261.65  recorded in March 2025…

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2027: NNPP Fixes May 26 for Primaries for All Elective Positions New Nigeria People’s Party (NNPP) has fixed May 26 for its primaries for all elective positions ahead of the 2027 general elections. The elective positions include the House of Assembly, the governorship, the National Assembly and the presidency. The NNPP National Publicity Secretary, Ladipo Johnson, in a statement on Monday in Abuja, said that the party would adopt the consensus mode of election in all wards across the country. Johnson said that the date had already been communicated to the Independent National Electoral Commission (INEC). He also disclosed that…

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Emefiele Asks Court to Foreclose Prosecution if it Fails to Produce Witnesses A former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has urged an Abuja High Court to foreclose the prosecution in his ongoing trial if the EFCC fails to produce its witnesses on Tuesday. Emefiele’s counsel, Matthew Burkaa SAN, made the application for the foreclosure of the prosecution after the prosecution counsel, Rotimi Oyedepo SAN, told the court that he was not sure of bringing his two witnesses on Tuesday. Oyedepo informed the court that the prosecution is yet to obtain the subpoena from the court,…

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