Author: Ifetayo Adeniyi

Standard Bank  Successfully Closes USD 250 Million Strategic Financing For Aradel Energy By Elegbede Abiodun The transaction resulted in Aradel Energy’s indirect equity interest in Renaissance increasing to 53.3%. Stanbic IBTC Capital Limited, Stanbic IBTC Bank Limited, and The Standard Bank of South Africa Limited (together, “Standard Bank”) have successfully achieved financial close on a landmark USD 250 million financing facility for Aradel Energy Limited (“Aradel Energy” or the “Company”). The facility was structured to support Aradel Energy’s strategic growth agenda, including the acquisition of an additional 40% equity interest in ND Western Limited (“ND Western”) from Petrolin Trading Limited, the refinancing of…

Manny Ita The Federal Ministry of Health and Social Welfare has inaugurated the National Cosmetics Safety Management Technical Working Group (NCSM-TWG) to enforce a rigorous crackdown on the circulation of substandard and toxic beauty products. On January 27, 2026, the government confirmed that the initiative, approved during the 66th National Council on Health, will run through 2030 to sanitize an industry currently valued at over $5 billion. The move transitions the National Policy on Cosmetics Safety from a theoretical framework into a multi-sectoral enforcement era, targeting hazardous substances like formaldehyde and heavy metals often found in improperly formulated skincare.…

Manny Ita The Federal Ministry of Housing and Urban Development has reached a major financing milestone with the mobilization of over ₦70 billion in private capital to fund the first phase of the “Renewed Hope” Cities and Estates. The announcement was highlighted on January 26, 2026, during the Saudi Real Estate Forum in Riyadh, where Minister Ahmed Dangiwa presented the Nigerian housing market as a bankable opportunity for global investors. The ₦70 billion was secured through Public-Private Partnerships (PPPs) to facilitate large-scale urban developments aimed at bridging the national housing deficit, which recent technical data has now refined to…

Manny Ita The traditional landscape of Nigerian fashion is undergoing a definitive transformation as Aso Oke, a hand-woven fabric historically reserved for prestigious ceremonies, becomes a staple of contemporary daily wardrobes. By 2026, the movement toward “cultural minimalism” has transitioned the textile from the wedding hall to the street, led by a new generation of designers who are reimagining the fabric’s structural properties. This shift is primarily driven by technical innovations in the weaving process, where artisans in traditional hubs like Iseyin now blend classic cotton with silk, lurex, and recycled fibers. These modifications have solved the historical issue…

Reno Omokri Defends Old Comments About President Tinubu Reno Omokri has made clear his stand on old statements based on accusations against President Tinubu. In response to claims made by Mr. Omoyele Sowore and his attorney, Mr. Abubakar Marshal, in court on Tuesday, January 27, 2026, Reno Omokri has issued a detailed statement addressing remarks he previously made about President Bola Ahmed Tinubu. Omokri acknowledged that he made negative comments about Tinubu during the 2023 presidential campaign, which he believed to be accurate at the time. However, he emphasized that upon discovering the statements were unfounded, he publicly retracted…

Manny Ita The National Information Technology Development Agency (NITDA) has formalized a strategic partnership with the KOICA Nigeria Office and a delegation of Korean experts to establish a Start-Up Digital Innovation Academy aimed at empowering Nigerian youth and Micro, Small, and Medium Enterprises (MSMEs). During a high-level engagement held on Wednesday, January 28, 2026, officials detailed the “PMC Service for Strengthening Youth and MSMEs,” a project designed to bridge existing gaps in the nation’s startup landscape by integrating education, entrepreneurship, and policy development. Dr. Aristotle Onumo, NITDA’s Director of Stakeholder Management and Partnerships, highlighted the urgency of the initiative,…

Manny Ita The Nigerian Presidency has moved to clear the air regarding the health of President Bola Ahmed Tinubu following a widely circulated video of him losing his balance during a ceremonial reception in Ankara, Türkiye, on Tuesday, January 27, 2026. Official statements from the presidency described the incident as a minor “fleeting” stumble caused by the President stepping on a metal object on the floor during a march-past at the Turkish Presidential Palace. Addressing the incident via his verified social media handle, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, emphasized that the President…

Manny Ita The Nigerian National Assembly has entered a critical phase in the passage of the Electoral Bill 2025, a legislative overhaul aimed at addressing systemic flaws ahead of the 2027 general elections. On Tuesday, January 27, 2026, lawmakers in both chambers reaffirmed their commitment to finalizing the bill, which introduces significantly harsher penalties for electoral malpractice. Under the proposed Section 62(9), individuals found guilty of vote-buying or selling will face a fine of ₦5 million—a massive increase from the previous ₦500,000—alongside a mandatory two-year prison sentence and a 10-year ban from contesting any political office. Senate Leader Opeyemi…

Manny Ita Tension escalated in Lagos and Anambra states on Wednesday, January 28, 2026, as security operatives moved to disperse separate mass protests that paralyzed major urban centers. In Lagos, police deployed tear gas and fired shots into the air to scatter hundreds of displaced residents from the Makoko, Oworonshoki, and Ijora Badia communities who had gathered at the Lagos State House of Assembly in Alausa. The demonstrators, led by activist Hassan Soweto, were protesting the ongoing demolition of their homes, which they characterized as a government-backed “land grab” aimed at clearing space for luxury real estate developments. Several protesters,…

NNPC Increases Fuel Price by N50 in Lagos Following Dangote Refinery Increase By Elegbede Abiodun The Nigerian National Petroleum Company, NNPC, has raised the petrol price to N835 per litre in Lagos, and N839 per litre in Abuja. On Wednesday, the national oil company made the price increments across retail outlets in both cities. NNPC adjusted the price of the product by N50 from N785 per litre in Lagos and by N20 from N815 in Abuja. This development had come a day after the Dangote refinery increased the ex-gantry price of its petrol to N799 per litre. The refinery…