The Federal Government of Nigeria has increased its planned borrowing for 2026 to N29.20 trillion, following a widening fiscal deficit and expansion of the national budget. The revised figure marks a sharp rise of N11.31 trillion from the earlier projection of N17.89 trillion outlined in the 2026 Abridged Budget Call Circular issued in December 2025. According to details in the 2026 Appropriation Bill approved by the National Assembly, the fiscal deficit is now projected at N31.46 trillion, with total expenditure estimated at N68.32 trillion and revenue at N36.87 trillion. The widening gap between government spending and revenue has significantly…
Author: Elvis Eromosele
Nigeria’s banks are under fresh regulatory pressure as the Central Bank of Nigeria sets an April 30 deadline for lenders to submit Board-approved Risk-Based Capital (RBC) stress test reports. The directive marks a tougher phase of oversight following the recent recapitalisation exercise, shifting focus from the size of bank capital to its ability to withstand economic shocks. Issued on March 6, 2026, the directive requires banks to evaluate how their capital positions would perform under adverse credit scenarios, including detailed assessments of methodology, compliance, and capital impact. In a joint statement signed by Olubukola Akinwunmi and Hakama Sidi Ali,…
The Independent National Electoral Commission has directed its Resident Electoral Commissioners (RECs) nationwide to suspend all publicity and logistical preparations for the planned voter revalidation exercise. The directive was contained in a letter dated April 4, 2026, and signed by the commission’s Secretary, Rose Oriaran-Anthony. According to the notice, RECs are to halt all external activities related to the exercise and await further instructions from the commission. “RECs are directed to step down all publicity and arrangements for the voter revalidation exercise and await further directives,” the letter stated. However, the commission instructed officials to continue internal preparations, including…
Troops of the Nigerian Army have foiled a terrorist attack in Kaduna State, rescuing 31 civilians abducted during an Easter church service in Ariko Village, Kachia Local Government Area. The swift operation followed a distress call reporting the abduction of worshippers at an ECWA Church during the service. According to a statement issued on Sunday by the Army Headquarters, troops immediately mobilised to the area and launched a pursuit of the attackers. With support from local residents, the troops tracked the fleeing assailants and engaged them in a firefight, forcing them to abandon the hostages. “The pressure mounted by…
President Bola Ahmed Tinubu has approved a N3.3 trillion settlement plan to clear long-standing debts in Nigeria’s power sector, marking one of the most significant interventions aimed at reviving the troubled industry. The payment framework, announced on Sunday, targets legacy debts accumulated between February 2015 and March 2025, years marked by underinvestment, tariff disputes, and mounting unpaid obligations across the electricity value chain. According to Bayo Onanuga, 15 power generation companies have already signed settlement agreements valued at N2.3 trillion. The federal government has so far raised N501 billion to fund the initiative, with N223 billion already disbursed and…
Interswitch has called for the adoption of scalable, technology-driven solutions to strengthen revenue generation, improve transparency, and enhance inclusiveness in Nigeria’s financial system. The call was made at the close of the Abuja edition of the Nigeria Revenue Summit, the final leg of a nationwide engagement series that began in Lagos. Speaking at the event, Chinomso Nwachukwu, Chief Financial Officer (Nigeria) at Interswitch, highlighted the evolving role of finance professionals in today’s real-time, data-driven economy. She noted that finance teams are no longer limited to traditional oversight and cost control functions but now serve as strategic enablers, performance drivers,…
Terra Cube has emerged as the biggest winner at the 2026 Advertisers Association of Nigeria Marketing Excellence Awards, taking home the coveted Brand of the Year title, widely regarded as the highest honour in Nigeria’s marketing industry. The award recognises brands that demonstrate outstanding strategy, creativity, execution, and measurable impact, positioning Terra Cube as a benchmark for marketing excellence. The recognition marks a significant milestone for Terra Cube, which has steadily built momentum since its debut. The brand first signalled its potential by winning Campaign of the Year at the 2023 ADVAN Awards and has since grown into a…
Pepsodent has intensified its oral health advocacy in Nigeria with a nationwide school activation campaign, reaching pupils across 17 states as part of activities to mark World Oral Health Day 2026. The initiative was held simultaneously in major cities including Lagos, Abuja, Port Harcourt, Ibadan, Enugu, and Benin City, among others, providing an interactive platform to educate children on proper oral hygiene practices. The campaign reached 51 schools nationwide, engaging thousands of pupils through demonstrations, interactive sessions, and practical lessons on brushing techniques, reduced sugar intake, and the importance of regular dental check-ups. World Oral Health Day, observed annually…
The Nigerian Association of Resident Doctors has declared an indefinite nationwide strike set to begin at 12:00 a.m. on Tuesday, April 7, 2026, over a dispute with the federal government on doctors’ allowances. The decision was reached during a virtual Extraordinary National Executive Council (e-NEC) meeting held on April 4, where members unanimously resolved to embark on what they described as a “total and comprehensive” industrial action. In a statement signed by Shuaibu Ibrahim, its Secretary-General, the association accused the government of planning to halt the implementation of the revised Professional Allowance Table (PAT), a key agreement reached after…
The Lagos State Government will temporarily close several roads on Lagos Island on Monday, April 6, 2026, to allow for the staging of the Fanti Carnival. The announcement was made by the Lagos State Ministry of Tourism, Arts and Culture in a statement shared on the state’s official X account on Friday. The road closures will take effect from 7:00 a.m. The traffic diversions will impact major routes around the carnival procession, including: King George V Road (by Mobil Filling Station) Onikan Roundabout (inbound to Tafawa Balewa Square) Flagstaff House (inbound to TBS) Outer Marina by State House (inbound…