Author: Atoyebi Adenike
By Atoyebi Nike Nigeria’s foreign exchange market turnover rose by 56.4 percent to 8.6 billion dollars in 2025, up from 5.5 billion dollars in 2024. Central Bank Deputy Governor for Economic Policy Mohammed Abdullahi said the increase reflects the impact of monetary and fiscal reforms that improved liquidity, transparency and investor confidence. He spoke at the Nigeria Investors Forum during the IMF and World Bank Annual Meetings. He said the bank introduced an order-based quotation system and remittance reforms to strengthen market efficiency. Reserves climbed to 43.4 billion dollars in October, covering 11 months of imports. Nearly 13 billion dollars…
By Atoyebi Nike The Federal Government expects crude oil production to rise by about 600,000 barrels per day as new investments boost output in the upstream sector. The Nigerian Upstream Petroleum Regulatory Commission said the increase would come from 28 new field projects approved in 2025, expected to deliver 600,000 barrels of oil and more than two billion standard cubic feet of gas daily. This would raise output to about 1.89 million barrels per day, up from 1.39 million barrels in September. Commission Chief Executive Gbenga Komolafe announced the projection at the World Energies Summit in London. He said the…
By Atoyebi Nike Chairman of UBA Group, Tony Elumelu, has said artificial intelligence could drive Africa’s next major transformation if access to capital, inclusive systems and digital skills are prioritised. Speaking on Wednesday at the IMF and World Bank Annual Meetings in Washington during a panel on boosting productivity in the digital age, Elumelu said AI holds immense promise for sectors like healthcare, education and agriculture. “Artificial intelligence can be the next great leap in healthcare, where diagnostic tools reach remote clinics; in education, where content becomes accessible in local languages; and in agriculture, where data helps small farmers improve…
By Atoyebi Nike Former Senate President Adolphus Wabara has declared his support for the campaign demanding the release of the detained leader of the Indigenous People of Biafra, Nnamdi Kanu. In a letter dated October 13 and addressed to activist Omoyele Sowore, Wabara said he fully supports the planned protest calling for Kanu’s freedom. The letter, shared by Sowore on X, stated that Wabara is currently abroad on a medical trip and would have joined the demonstration if he were in the country. He praised Sowore and other organisers of the October 20 march for their courage in standing up…
By Atoyebi Nike Most global markets advanced on Thursday as investors balanced renewed US-China trade tensions with expectations of further interest rate cuts by the Federal Reserve this year. The week has been volatile since US President Donald Trump threatened to impose 100 percent tariffs on Chinese goods in response to Beijing’s rare-earth export controls. Although he later softened his stance, the threat triggered tit-for-tat measures and raised fears about the fragile trade truce between both countries. On Wednesday, Trump confirmed to reporters that the two nations were “in a trade war,” saying tariffs were essential to maintain leverage. His…
By Atoyebi Nike A chieftain of the African Democratic Congress and Nollywood actor, Kenneth Okonkwo, has called on the Independent National Electoral Commission to declare the seat of Bayelsa State Governor, Douye Diri, vacant after his resignation from the Peoples Democratic Party. Governor Diri resigned from the PDP on Wednesday alongside members of the Bayelsa State House of Assembly. His move has fuelled speculation that he may be preparing to join the All Progressives Congress. The announcement was made during an expanded State Executive Council meeting in Government House, Yenagoa. Present at the meeting were the Speaker of the House…
By Atoyebi Nike The Kebbi State Executive Council has approved N4.05 billion for the rehabilitation of seven general hospitals across the state. The Attorney-General and Commissioner for Justice, Alhaji Junaidu Marshall, announced this after the council meeting held in Birnin Kebbi on Wednesday under the chairmanship of Governor Nasir Idris. Marshall said the decision reflects the government’s commitment to improving healthcare delivery and equipping hospitals to better serve residents. The hospitals to benefit from the rehabilitation are located in Kambaza, Suru, Kamba, Dirin-Daji, Kangiwa, Koko and Yauri. He explained that Argungu General Hospital had already been rehabilitated and fitted with…
By Atoyebi Nike Nigeria is preparing to take a strong labour-focused position at the United Nations climate conference COP30 which will hold in Belém, Brazil, in November. Brazil has described the summit as the “Implementation COP” because the focus will shift from negotiating new goals to carrying out existing commitments under the Paris Agreement. A key part of the agenda is the Belém Action Mechanism for a Global Just Transition which aims to bring together fragmented global efforts to protect workers during the shift to a green economy. Nigeria has already taken a step forward with its Just Transition Guidelines…
By Bagudu Mohammed Across Nigeria, a wave of defections from the PDP to the APC has created an atmosphere of bitterness and resentment, particularly in the South East, South South, and parts of the North. This growing political exodus is deepening long-standing regional grievances and raising fresh questions about the country’s fragile sense of nationhood. In the South East, frustration runs deep. Many believe their exclusion from the presidency reflects deliberate marginalisation. Over time, this has evolved into desperation and agitation, with political power seen as the ultimate proof of belonging. The North, meanwhile, harbours its own suspicions whenever power…
By Bagudu Mohammed The recent announcement that Mathematics will no longer be a compulsory subject for students in the Arts and Humanities seeking admission into Nigerian universities and polytechnics has stirred both relief and controversy. For decades, the fear of Mathematics has haunted many students like an unending nightmare. The news: “FG removes Mathematics as admission requirement for art students” felt to some like the breaking of a long-standing curse. But beneath that relief lies a deeper question: can we truly afford to live, learn, and lead in a world without Mathematics? Mathematics, for many, has always been that subject…