Nigerian crude oil last traded above $70 per barrel, outperforming the Federal Government’s 2026 budget benchmark of $64.85 amid rising geopolitical tensions. Bonny Light was reported at around $71 per barrel, slightly down from $72.3 on Monday. Renowned for being “light and sweet,” Nigerian crude’s low sulfur content and high API gravity make it cheaper to refine into high-value products like diesel and gasoline. Global oil markets are experiencing heightened volatility due to geopolitical tensions outside the Middle East. US military forces are mobilising near the Red Sea ahead of the third round of US-Iran nuclear talks in Geneva,…
Author: Elvis Eromosele
By Chido Nwakanma Hold your head high, dear communication professional. In the age of AI and amid discussions of job losses and decline, the latest surveys suggest that our skills and professions remain highly valued. In fact, their importance has grown alongside or despite AI. Communication features in the Top Ten Skills of today, according to LinkedIn. The trending skills go beyond AI. LinkedIn’s annual “Skills on the Rise” report has developed from a simple list into a strategic guide for the modern professional. The 2026 edition signifies a significant shift: AI proficiency is no longer a unique advantage; it…
The Federal Government on Thursday inaugurated the Board of the Nigerian Consumer Credit Corporation (CREDICORP), marking a milestone after the institution disbursed over N37 billion in consumer credit to Nigerians in just one year. Vice President Senator Kashim Shettima, who led the inauguration, emphasised that access to consumer credit is central to Nigeria’s ambition of becoming a one-trillion-dollar economy. The newly inaugurated board includes: Otunba Aderemi Abdul, Chairman Engr. Uzoma Nwagba, Managing Director/CEO Olanike Kolawole, Executive Director, Operations Aisha Abdullahi, Executive Director, Credit and Portfolio Management Dr. Armstrong Ume-Takang, MoFI Representative Engr. Bisoye Coke-Odusote, NIMC Representative Mohammed Naziru Abbas,…
Japan has tightened its permanent residency (PR) rules for foreign workers, increasing the required visa duration from three years to five years before an individual can apply for PR. The change, announced by the Immigration Services Agency of Japan, is already in effect. Previously, a three-year visa allowed many foreign residents to seek permanent residency, but that pathway is now closed to new applicants. First-time applicants will now be granted a maximum visa duration of two years. The three-year visa option is only available as a transitional measure for those already holding this status, with decisions made by March…
Nigerian students are increasingly turning to the United Kingdom for higher education, with 30,204 study visas granted in the year ending December 2025, a sharp 59 per cent increase compared to 2024. The latest Home Office report on UK visa applications and outcomes places Nigeria among the fastest-growing nationalities for UK study visas in 2025, just behind Pakistan, which recorded 30,781 grants. Indian nationals received the highest number of sponsored study visas at 95,231 (23% of the total), followed by Chinese students with 89,019 visas, though this represented a 15 per cent decline from 2024 and 34 per cent…
Governor Babajide Sanwo-Olu has unveiled Invest Lagos 3.0, the Lagos State Government’s flagship international investment platform for 2026, aimed at accelerating structured capital mobilisation and expanding cross-border trade. The governor announced the summit on Thursday during a press conference at Lagos House, Marina. The third edition of the summit will hold from June 9 to June 10, 2026, and is expected to convene at least 500 high-level delegates, including sovereign wealth funds, development finance institutions, multilateral agencies and senior public sector leaders from across the Commonwealth. Sanwo-Olu said Invest Lagos 3.0 marks a deliberate shift from dialogue to execution. “Invest…
Kogi State has secured a Declaration License from the Nigeria Export Processing Zones Authority (NEPZA) for the Ajaokuta Economic City Free Trade Zone, formally clearing the path for the launch of one of Nigeria’s most ambitious industrial corridors. The development was announced on Thursday by Kingsley Fanwo, the Kogi State Commissioner for Information and Communications, in Lokoja, according to the News Agency of Nigeria. The license was presented to Governor Ahmed Ododo at NEPZA’s headquarters in Abuja, marking what state officials described as a significant milestone in Kogi’s economic transformation drive. Fanwo said the Ajaokuta Economic City Free Trade Zone…
The Independent National Electoral Commission (INEC) has earmarked N12.29 billion for the printing of Permanent Voter Cards (PVCs) and N500 million for hand sanitisers as part of its proposed N873.78 billion budget for the 2027 general elections. The commission presented the budget proposal on February 12 before the Joint Committee of the National Assembly on Electoral Matters in Abuja, outlining projected costs for election operations, technology, logistics and administrative expenses. According to a breakdown of the estimates, N12,292,700,300.26 is allocated specifically for printing PVCs for eligible Nigerians registering or updating their records under the Continuous Voter Registration (CVR) exercise.…
The Federal Government’s decision to extend the ban on raw shea nut exports until February 2027 has reignited debate about Nigeria’s industrialisation strategy. At its core, the policy reflects a familiar ambition: move Nigeria away from exporting raw commodities and toward processing and manufacturing higher-value products at home. The question, however, is whether the country is structurally prepared to make that leap, or whether the ban risks unintended economic consequences. Nigeria is one of the largest producers of shea nuts globally. Yet much of the value chain remains outside its borders. Raw nuts are exported, processed abroad into shea…
The Federal Government has extended its ban on the export of raw shea nuts by one year, shifting the deadline from February 26, 2026, to February 25, 2027, in a move aimed at strengthening Nigeria’s domestic processing industry and increasing value addition. The decision, approved by President Bola Tinubu, was announced on Wednesday, just hours before the initial six-month emergency ban, introduced on August 26, 2025, was set to expire. According to Bayo Onanuga, Special Adviser to the President on Information and Strategy, the extension aligns with the administration’s “Renewed Hope” Agenda, which seeks to reposition Nigeria from a…