Author: Ifetayo Adeniyi

Lagos ranks as Africa’s second-largest city economy, achieves GDP of $259 billion Lagos ranks as Africa’s second-largest city economy, achieves GDP of $259 billion Lagos state has cemented its position as one of Africa’s economic powerhouses, with its Gross Domestic Product (GDP) reaching an impressive $259 billion based on purchasing power parity (PPP). This milestone places Lagos as the second-largest economy on the continent, trailing only Cairo, Egypt. This was made known during the official launch of the Lagos Economic Development Update (LEDU) 2025 on Wednesday. According to the report, the state ranks as Africa’s second-largest city economy by purchasing…

FG, 18 months after recall, vets candidates for ambassadorial appointments President Bola Tinubu FG, 18 months after recall, vets candidates for ambassadorial appointments. Nearly two years after President Bola Tinubu recalled all ambassadors, their replacements are expected to be announced “very soon”. Citing sources familiar with the development, Reuters reports that the federal government has commenced the vetting of potential candidates. An intelligence official added that background checks were being conducted on possible appointees, with information garnered from the screening shared with relevant agencies within the presidency and legislature. Tinubu recalled all career and non-career ambassadors in September 2023, barely…

Tinubu, Obasa, Meranda, Others At Aso Rock For Close-Door Meeting President Bola Tinubu is currently meeting with the Speaker of the Lagos State House of Assembly, Mudasiru Obasa, and other lawmakers from the state. According to The Punch, the lawmakers were spotted arriving in a Coaster bus a few minutes past 2:00 pm (local time) on Wednesday, after which security officials ushered them into the President’s office complex. While Mojisola Meranda, who was recently elected Speaker, arrived with her colleagues, Mr Obasa arrived separately at about 3:00 pm.

NELFUND, for easy verification, links loan portal to schools NELFUND, for easy verification, links loan portal to schools The Nigerian Education Loan Fund has began moves to ensure that its site is linked to the portals of institutions, to allow ease of verification. The Executive Director, Operations, Mustapha Iyal, disclosed this during the sensitisation programme held at the University of Ilorin for higher institutions in Kwara State, on Tuesday. Iyal said, “We observed that one of the problems we have is that of verification. So what NELFUND is trying to do is that we want to engage the institutions directly…

Lagos Govt tackles waterways hinderance, removes dredging pipes in Ikorodu Lagos Govt tackles waterways hinderance, removes dredging pipes in Ikorodu The Government has removed dredging pipes that hindered ferry movement and caused safety risks on the inland waterways leading to Ikorodu. The Lagos State Waterways Authority (LASWA) confirmed the removal in a statement on Tuesday, reporting that the pipes, abandoned by a dredging company, had disrupted two passenger ferries, as reported by the News Agency of Nigeria (NAN). The obstacles also caused damage to the ferries. The statement noted that LASWA’s General Manager, Oluwadamilola Emmanuel, stated that upon receiving reports…

Dangote Refinery, amid end of Naira-for-Crude deal, increases crude imports Dangote Refinery, amid end of Naira-for-Crude deal, increases crude imports The Dangote Refinery and Petrochemical Company is reportedly sourcing crude oil from multiple international suppliers as it gradually increases production, amid the end of the Naira-for-Crude deal with the federal government. As Bloomberg reported, the 650,000 bpd Refinery, which is reshaping the West African energy landscape, has recently sourced crude from the United States, Angola, and Algeria, among others. Since the beginning of the month, the Dangote refinery has reportedly received over three million barrels of American crude, in addition…

RCCG Economic Summit: Rewane, Adedipe prepare to be present RCCG Economic Summit: Rewane, Adedipe prepare to be present • Finding ways forward and pathway on the state of the economy stability. Renowned economists Bismarck Rewane, Dr Abiodun Adedipe and others are billed to attend the 2025 Edition of The Redeemed Christian Church of God (RCCG), Christ the Lord Parish, Lekki Economic Summit which is scheduled to be held this in Lagos. Rewane, the CEO of Financial Derivatives Company Limited, who is the keynote speaker is expected to give an in-depth analysis of Nigeria’s macroeconomic challenges and opportunities. He will also…

Wale Tinubu lauds Oando’s Trinidad refinery lease as Afro-Caribbean landmark Wale Tinubu Wale Tinubu lauds Oando’s Trinidad refinery lease as Afro-Caribbean landmark Oando Nigeria’s subsidiary, Oando Trading, has been officially selected as the preferred bidder to lease the refinery assets of Guaracara Refining Company from Trinidad Petroleum Holdings Ltd. The selection followed a formal written notification and an announcement by the Honourable Minister for Energy of Trinidad and Tobago on February 27. A corporate disclosure released through the Nigerian Exchange Ltd. on Tuesday reported that Oando Nigeria is listed on both the NGX and the Johannesburg Stock Exchange. Oando’s Group…

Tinubu gives appointment to officers for federal university Abeokuta, others President Bola Tinubu Tinubu gives appointment to officers for federal university, Abeokuta, others President Bola Tinubu has appointed principal officers for the Federal University of Medicine and Medical Sciences, Abeokuta, Ogun and Federal College of Education (Technical), Yauri, Potsikum, Yobe. Tinubu appointed Prof. Fatiu Arogundade as the Vice Chancellor of the Federal University of Abeokuta. Dr Obayomi Olukayode Gregory is the new Registrar, Mrs Adedokun Omolola Olufunso the Bursar, while Dr Idiat Odunola Agboola becomes the university’s Librarian, the President’s spokesman, Mr Bayo Onanuga, said in a statement. Arogundade, a…

Reps asks CBN to suspend new ATM charges House of Representatives Reps asks CBN to suspend new ATM charges The House of Representatives has called on the Central Bank of Nigeria to suspend the implementation of the increment in Automated Teller Machine transaction charges given the economic situation in the country. The decision of the House was sequel to the adoption of a motion of urgent public importance sponsored by the member representing Esan Central /Esan West/Igueben Federal Constituency, Edo State, Marcus Onobun, during Tuesday’s plenary. Addressing his colleagues on the floor, Onobun noted that the apex bank through a…