By Elvis Eromosele By the time hotels in the United States begin slashing room rates in the middle of what should be a peak summer season, something far deeper than ordinary seasonal fluctuation is clearly at play. The recent reports of American hotels cutting prices because of weaker-than-expected demand linked to the upcoming FIFA World Cup offer a sobering window into shifting global travel patterns, fragile consumer confidence, and the limits of event-driven economic optimism. At first glance, the pricing correction looks straightforward: anticipated demand simply failed to materialise. But beneath that surface lies a more complex web of macroeconomic…
Author: Elvis Eromosele
By Olutayo Irantiola The fight against malaria in Nigeria over the years has been defined by a “presumptive” approach, rather than from an ascertained standpoint. Unfortunately, it has done more harm than good with this method of considering every fever as malaria, often without laboratory tests. This approach is no longer sustainable. It wastes resources, fuels drug resistance, and masks other life-threatening illnesses. This year, 2026, the World Health Organization’s theme for the 2026 World Malaria Day is “Driven to End Malaria: Now We Can. Now We Must.” The theme is an urgent global clarion call to make a rallying cry…
Skyway Aviation Handling Company (SAHCO) Plc has expanded its operational footprint, emerging as the sole ground handling service provider at the newly commissioned Gateway International Airport in Iperu, Ogun State. The airport was officially inaugurated by Bola Ahmed Tinubu, marking a major milestone in Nigeria’s aviation infrastructure development and positioning Ogun State as an emerging hub for passenger and cargo traffic. SAHCO’s appointment as the exclusive ground handler highlights its strong industry reputation for operational efficiency, safety, and service delivery. The company played a central role during the commissioning, providing end-to-end ground handling services, including ramp operations, passenger facilitation, cargo…
The Lagos State Government has formally handed over Obalende Park to MTN Nigeria for redevelopment and beautification, as part of its ongoing commitment to transforming underutilised public spaces into safe, functional, and environmentally sustainable infrastructure for residents. Speaking on the development, Tokunbo Wahab, the Honourable Commissioner for the Environment and Water Resources, noted that the initiative aligns with the State Government’s broader vision of urban renewal and environmental sustainability. Under its Corporate Social Responsibility (CSR) initiative, MTN Nigeria has adopted the Obalende Park space and will redesign it into a modern, world-class facility. The redevelopment will include an organised motor…
Seplat Energy Plc has made history on the Nigerian Exchange Limited (NGX), becoming the first listed company to cross the N10,000 per share mark. The stock closed at N10,450 on Tuesday, April 14, 2026, after gaining N900 in a single trading session, an increase of 9.42 per cent. This milestone underscores strong investor confidence and highlights shifting dynamics within Nigeria’s energy sector. On a year-to-date basis, Seplat’s share price has surged by 79.9 per cent, positioning it among the top-performing stocks on the exchange. The rally comes amid renewed global interest in Nigerian equities following FTSE Russell’s decision to reclassify…
The Central Bank of Nigeria has withdrawn N4.48 trillion from the financial system within six days, executing one of its most aggressive liquidity tightening moves in recent months. The funds were mopped up through two major Open Market Operations (OMO) auctions conducted on April 9 and April 14, as the apex bank intensified efforts to curb excess liquidity and stabilise the economy. Financial system data shows the scale of intervention: N2.31 trillion absorbed on April 9 N2.17 trillion absorbed on April 14 This pushed banks’ opening balances down sharply to N99.05 billion on April 15, from N135.76 billion a day…
African Export-Import Bank posted a profit of N1.5 trillion ($1.15 billion) for 2025, up from N1.3 trillion ($973.5 million) in 2024, reflecting stronger earnings and sustained growth in its lending operations. The performance was underpinned by rising interest income, which climbed to about N4.2 trillion, alongside a steady expansion in loans and advances, now estimated at over N45 trillion. The bank’s balance sheet strengthened significantly during the year, with total assets rising by 19.9 per cent to N56.7 trillion. Loans and advances increased to N45.7 trillion from N38.9 trillion, highlighting continued support for trade and infrastructure financing across Africa and…
Nigeria’s headline inflation rate rose to 15.38 per cent in March 2026, up from 15.06 per cent recorded in February, signaling a fresh uptick in price pressures across the economy. The latest figures, released by the National Bureau of Statistics, point to accelerating short-term costs despite a broader moderation in year-on-year inflation. Data from the statistics agency shows that while the annual inflation trend remains relatively contained, monthly price increases are gathering pace. Headline inflation rose by 0.32 percentage points to 15.38 per cent Month-on-month inflation jumped to 4.18 per cent from 2.01 per cent in February The 12-month average…
Bola Ahmed Tinubu has commissioned the newly completed headquarters of the Nigeria Revenue Service in Abuja, marking a significant upgrade to the country’s revenue administration infrastructure. The interior fit-out of the landmark facility was executed by Stretford Hill Limited, which handled the transformation of the building’s internal spaces into a modern, functional work environment. The commissioning ceremony drew top government officials, industry leaders, and stakeholders, including NRS Chief Executive Chairman Zacch Adedeji. Stretford Hill Limited was responsible for translating the building’s architectural concept into operational spaces tailored to the needs of the revenue agency. The scope of work included spatial…
Securities and Exchange Commission has proposed a new regulatory framework setting a minimum capital requirement of N7.5 billion for Free Trade Zone Entities (FTZEs) seeking to raise funds through public offerings. The move is aimed at strengthening investor protection and ensuring only financially sound companies from free trade zones can access Nigeria’s capital market. Under the proposed rules, no FTZE will be allowed to issue or offer shares to the public without prior approval from the Commission, in line with provisions of the Investment and Securities Act (ISA) 2025. The SEC said the new framework establishes clear eligibility criteria and…