Author: Mujeedat
Senator Joel-Onowakpo Thomas has voiced strong backing for Governor Biodun Abayomi Oyebanji’s re-election bid, declaring that the All Progressives Congress (APC) is fully prepared to secure a decisive victory in the June 20, 2026 Ekiti State governorship election. During the inauguration of the APC National Campaign Council in Abuja, the senator said the party is mobilising for a landmark win, driven by Oyebanji’s tangible performance and the APC’s deep acceptance across Ekiti communities. He stressed that the campaign council’s mix of top party leaders, governors, lawmakers, and stakeholders from across Nigeria signals the APC’s firm resolve to retain and…
Ghana has recorded a robust 6.4 per cent year-on-year economic growth in the first quarter of 2026, outpacing Nigeria’s 3.89 per cent GDP growth for the same period, according to official data from the Ghana Statistical Service (GSS) and the National Bureau of Statistics (NBS). The Ghana figure, announced by Government Statistician Alhassan Iddrisu in Accra, reflects strong resilience amid global headwinds, including disruptions from the ongoing Iran conflict. Nigeria’s growth, up from 3.13 per cent in Q1 2025, was anchored primarily by the non-oil sector and a rebound in key drivers. In Ghana, services remained the dominant…
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso formally received the Central Bank of the Year Award at the Central Banking Awards ceremony in London on Wednesday, June 10, 2026. He dedicated the honour to the CBN Board, management, and staff for their steadfast commitment to institutional reform and economic stability. In his acceptance speech, Cardoso thanked Central Banking Publications and the award judges for the recognition and congratulated fellow institutions and individuals honoured at the event. He stressed that the award was not a personal achievement but a testament to the collective efforts of the entire CBN, particularly…
Dangote Petroleum Refinery is targeting about $1 billion through a private placement, valuing the company at roughly $39.1 billion, according to sources and a placement document. The refinery is offering 3 billion ordinary shares at $0.35 per share, with investor demand already exceeding $2 billion. Investors must subscribe to a minimum of 1 million shares ($350,000), with additional purchases in multiples of 500,000 shares. The shares will carry a 365-day lock-up period. Proceeds will fund expansion and general corporate purposes as the refinery scales operations and strengthens its market position. The 650,000 barrels-per-day facility, which started production in…
The global gas turbine market is experiencing a significant boom, driven by escalating tensions in the Middle East and massive data centre expansion in the United States, according to Siemens Energy executives. Manufacturers are already flooded with orders as hyperscalers invest more than $700 billion in energy-intensive artificial intelligence infrastructure, fuelling demand for new energy capacity. Along with rivals GE Vernova and Mitsubishi Heavy Industries, Siemens Energy has seen gas turbine demand soar. This trend has boosted the firms’ share prices in recent years and is now being reinforced by Middle East governments seeking to secure energy supplies amid…
The Lagos State Government has reiterated its ambition to become Africa’s leading destination for investment, innovation, and enterprise, unveiling new opportunities across infrastructure, tourism, the creative economy, and financial services. Speaking on the second day of the Invest Lagos 3.0 Summit at Eko Hotels and Suites in Victoria Island, Governor Babajide Sanwo-Olu, Deputy Governor Dr. Obafemi Hamzat, senior officials, and policymakers outlined concrete plans, ongoing projects, and investment-ready opportunities designed to attract local and international capital. In his address during the closing ceremony, Governor Sanwo-Olu said the summit’s success would ultimately be measured not by the quality of discussions…
The Federal Government has released approximately N700 billion ($514.2 million) to settle outstanding payments owed to 1,240 local contractors working across ministries, departments, and agencies. In a June 8 statement, the Ministry of Finance revealed that N436.6 billion of the total was disbursed in May 2026 alone. The payments aim to support local businesses and small and medium-sized enterprises (SMEs), many of which have struggled with cash-flow problems due to delayed government payments. Authorities also expect the measure to revive public projects that have slowed or stalled because of funding constraints. Officials said the initiative will help preserve…
Nigeria’s external reserves have crossed the $50 billion threshold, marking a symbolic milestone that reflects stronger oil and gas revenue prospects and validates earlier expectations for reserve accretion, according to Dikpa Jay, head of fixed income and FX at Chapel Hill Denham Securities. In a CNBC television interview, Jay said the reserves buildup, which included nearly half a billion dollars added in just the first four days of June—is supported by favorable external conditions for Nigeria’s export earnings, particularly from oil and gas. He emphasized that the accretion is not isolated but part of a broader positive dynamic in…
The Independent National Electoral Commission (INEC) has explained its decision to appeal two recent Federal High Court judgments that questioned aspects of its Timetable and Schedule of Activities for the 2027 General Election, arguing that the absence of coordinated electoral timelines would create uncertainty and undermine its constitutional mandate. INEC Chairman Prof. Joash Amupitan, SAN, disclosed this on Tuesday, June 9, 2026, while delivering opening remarks at the Second Quarterly Consultative Meeting with Leaders of Political Parties in Abuja. He outlined that in Suit No. FHC/ABJ/CS/517/2026 (Youth Party v. INEC), delivered on May 20, 2026, the court questioned certain…
In a historic move to redefine public access to art and culture in Nigeria, the Yemisi Shyllon Museum of Art (YSMA) at Pan-Atlantic University will offer free admission to all visitors starting June 15, 2026. The initiative, the first since the museum’s establishment, is funded by prominent art collectors and philanthropists Aisha and Gbenga Oyebode, who have committed to supporting the programme for an initial three-year period. Mr. Oyebode also serves on the YSMA Museum Advisory Board. The decision marks a major milestone in YSMA’s mission to broaden public access to Nigerian art and deepen cultural participation across diverse…