Nigeria, Africa need $74bn for debt servicing – AfDB

The Vice President and Chief Economist of the African Development Bank, Prof. Kevin Urama, revealed that Nigeria and other African countries need approximately $74 billion for debt servicing this year. This comes amid increasing challenges in accessing affordable liquidity, further straining the financial stability of these nations. Urama disclosed this during his opening remarks at…

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FEC approves 2025 budget proposal, Tinubu to present today

The Federal Executive Council on Monday, approved the 2025 Budget proposal. Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this after the council meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja. The minister explained that the 2025 framework was based on an oil price benchmark of $75 per barrel, oil…

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Customs impounds nine trucks of smuggled rice

The Nigeria Customs Service said its operatives have impounded nine trucks loaded with bags of smuggled rice in Ogun state. The comptroller of the federal operations unit zone A, Kola Oladeji, said this on Monday in Lagos. Oladeji said the feat was achieved by customs officers under the FOU zone A, who prevented the smugglers…

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Customs generates over N500m, disrupts fuel smuggling to Cameroon

The Nigeria Customs Service has dealt a significant blow to petroleum smugglers operating across the country, generating over N500 million in revenue through targeted sting operations under the special task force team, Operation Whirlwind. The operations, described by border analysts as a “clinical crackdown,” have significantly disrupted smuggling networks, particularly in border areas like Adamawa…

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Tinubu renames UniAbuja after Yakubu Gowon

President Bola Tinubu has approved the renaming of the University of Abuja to Yakubu Gowon University. The change of name, which was made public on Monday by the Minister of Information and National Orientation, Mohammed Idris, is in honour of Gowon, who served as Nigeria’s military head of state between 1st August 1966 and 29th…

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Tinubu approves free train rides for yuletide

In a bid to ease transportation costs during the festive season, President Bola Tinubu has approved free train services nationwide. The initiative will run from December 20, 2024, to January 5, 2025. Minister of Information and National Orientation, Mohammed Idris, announced the development during a briefing in Abuja, stating that the decision reflects the administration’s…

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Funke Akindele’s ‘Everybody Loves Jenifa’ breaks nollywood office records

Award-winning actress and filmmaker Funke Akindele, popularly known as Jenifa, has set new milestones with her latest movie, Everybody Loves Jenifa. The film, which premiered on Friday, December 13, 2024, has broken multiple records, according to data shared by Filmeoneng via Instagram on Monday. ELJ achieved the highest single-day gross in Nollywood history, raking in…

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