Author: Atoyebi Adenike

By Atoyebi Nike The Nigerian naira recorded a minor drop against the US dollar on Tuesday, shedding value in both the official and parallel forex markets. Data from the Central Bank of Nigeria showed that the official exchange rate closed at ₦1,533/$, slightly down from ₦1,531.95/$ on Monday. Meanwhile, traders in the black market saw the naira weaken by ₦5 to ₦1,565/$ from ₦1,560/$ the previous day. This decline comes despite positive fundamentals pointing to increased investor interest in Nigeria’s economy. On Monday, the naira had made gains, coinciding with a boost in the country’s external reserves, which rose to…

By Atoyebi Nike Foreign direct investment into Nigeria’s telecommunications sector fell sharply to $80.78 million in the first quarter of 2025, marking a 58% drop compared to the $191.57 million recorded in Q1 2024. This decline, reported by the National Bureau of Statistics (NBS) in its latest capital importation data, also represents a 41% fall quarter-on-quarter from the $136.86 million posted in Q4 2024. While Nigeria saw an overall improvement in capital inflows during the review period, the telecoms sector lagged significantly behind. Industry experts continue to attribute the downturn to systemic issues such as multiple taxation and the persistent…

By Atoyebi Nike Rwanda has agreed to accept up to 250 migrants deported from the United States under a resettlement deal signed in June. The agreement, a product of the Trump-era immigration crackdown, allows Kigali to vet deportees and offer approved individuals access to housing, healthcare, and job training. While Rwandan officials say their country’s history of displacement motivates the decision, human rights advocates have raised concerns about the ethics of third-country resettlement schemes. The U.S. will fund the programme through a grant, though the financial terms remain undisclosed. Only migrants without active criminal cases will be eligible, and participation…

By Atoyebi Nike Rwandan lawmakers have approved a new health law that allows teenagers aged 15 and above to access contraception without parental consent, in a major move aimed at reducing teenage pregnancy. The law, passed Monday, lowers the age of access from 18 to 15 and comes amid concern over rising rates of adolescent pregnancies, with over 22,000 cases recorded last year, according to government figures. Health officials say the previous legal limit hindered access to reproductive health services and contributed to high rates of school dropouts and unsafe abortions. In the last five years, 100,000 teenage girls in…

By Atoyebi Nike The Executive Secretary of the National Sugar Development Council (NSDC), Mr. Kamar Bakrin, has called on Nigerian farmers and private sector stakeholders to invest in the booming sugar industry, valued at over $2 billion locally and positioned within a $10 billion regional market. Speaking during a meeting with the All Farmers Association of Nigeria (AFAN), Bakrin said Nigeria must shift from dependence on sugar imports to becoming a production hub under the African Continental Free Trade Area (AfCFTA). “The policy environment is right, the market is massive, and now is the time to act,” Bakrin declared. The…

By Atoyebi Nike The Church of Nigeria (Anglican Communion) has officially severed ties with the Church in Wales over its election of Bishop Cherry Vann, an openly lesbian cleric, as Archbishop of Wales. In a statement dated August 3 and signed by its Primate, Most Rev. Henry C. Ndukuba, the Church declared it could no longer maintain communion with what it described as a body that has strayed from biblical teaching. “We do not recognise the so-called Archbishop of Wales and cannot share communion with a church that has departed from the teachings of the Bible,” Ndukuba stated. He described…

By Atoyebi Nike Senator Ahmad Lawan, former President of the Ninth Senate, has congratulated 17-year-old Nafisa Abdullah Aminu from Yobe State for winning the global award for English language skills at the 2025 TeenEagle Global Finals in London. In a statement on Tuesday, Senator Lawan described Nafisa’s feat as a shining example of the incredible potential within Nigeria’s youth. “Your triumph is not just a personal victory, it is a beacon of inspiration for young minds across Nigeria and beyond,” he said. Lawan commended the Yobe State Government under Governor Mai Mala Buni for prioritising education and creating opportunities for…

By Atoyebi Nike Governor Babagana Zulum has launched the distribution of 75 trucks of subsidised fertiliser and free farming inputs to smallholder and vulnerable farmers across Borno’s 27 local councils ahead of the 2025 wet season. Flagged off at the state-owned Fertilizer Blending Company in Maiduguri, the initiative targets returnees, women, youth, and farmers in conflict-affected areas. Fertilisers will be sold at 50% of the market price under a policy linked to Borno’s 25-Year Development Plan. Governor Zulum said the fertilizers come in two forms: Wet Blend for insecure areas (to curb misuse) and Dry Blend for stable zones. “Affordable…

By Atoyebi Nike The Federal Government has secured a $25.35 million concessional loan from the Kuwait Fund to support Kaduna State’s efforts to reduce the number of out-of-school children. Part of a $62.8 million financing deal involving global partners, the funds will go into the Reaching Out-of-School Children programme, which aims to enroll over 100,000 children, build 102 climate-resilient schools, and rehabilitate 170 existing ones. Minister of State for Finance, Dr. Doris Uzoka-Anite, said the initiative reflects Nigeria’s focus on accountability and impact in social investment. Kaduna Governor Uba Sani confirmed the state has paid its $1 million counterpart fund…

By Atoyebi Nike Nigerian oil held firm near $73 following three sessions of decline, even with global supply issues brewing over Russian crude. US President Donald Trump’s threats to punish India for its deals with Moscow stirred concerns, further gripping the oil sector. Brent dropped below $69, while West Texas Intermediate hovered close to $66 per barrel. Trump’s warning included intent to hike import fees on goods from India, citing its Russian oil ties. This came just before his set deadline for Russia to cease fire in the Ukraine conflict. News reports noted that Steve Witkoff, US envoy, would visit…