The Nigerian Education Loan Fund (NELFUND) has extended the deadline for its Student Loan Application Portal following a surge in applications nationwide. The extension was announced in a statement by Mrs. Oseyemi Oluwatuyi, the Fund’s Director of Strategic Communications, after the portal was initially scheduled to close on February 27, 2026. According to NELFUND, the additional days will allow more eligible students to complete their applications, particularly those who became aware of the scheme during recent nationwide sensitisation campaigns, institutions newly commencing the 2025/2026 academic session, and schools yet to submit verified student lists. Akintunde Sawyerr, Managing Director and Chief…
Author: Elvis Eromosele
The Federal Government has approved N4 billion for each of 12 selected universities to rehabilitate engineering workshops and procure modern equipment. Tunji Alausa, Minister of Education, announced the intervention in Abuja during the inauguration of the Implementation Committee on Tertiary Education Trust Fund (TETFund) Special High-Impact Projects. The initiative targets Faculties of Engineering and Technology in Federal Universities of Technology and other conventional universities nationwide. According to Alausa, the funds will upgrade existing laboratories and workshops or support the construction of new facilities where required. He stressed that the success of the project depends on strict adherence to standards, transparency,…
Nigeria’s net foreign exchange reserves climbed to $34.80 billion at the end of 2025, up from $23.11 billion in 2024, according to Olayemi Cardoso, Governor of the Central Bank of Nigeria. The $11.69 billion increase within one year marks a sharp improvement in the country’s external liquidity position. The figure also represents a significant recovery from $3.99 billion recorded at the end of 2023, reflecting what the apex bank described as stronger reserve quality over two years. Cardoso disclosed that Nigeria’s gross external reserves rose from $40.19 billion at end-2024 to $45.71 billion at end-2025, a $5.52 billion increase. As…
Saudi Arabia’s state oil giant, Saudi Aramco, has suspended operations at its 550,000 barrels-per-day Ras Tanura refinery following a drone strike linked to Iran’s retaliatory actions across the Gulf, according to Reuters. The Ras Tanura complex, located in the kingdom’s Eastern Province, is one of the Middle East’s largest refineries and a critical crude export terminal. Industry sources said operations were halted as a precaution after the strike, adding that the situation was under control at the time of the shutdown. The refinery closure comes amid escalating regional tensions after the United States and Israel carried out coordinated strikes on…
Before sunrise at Ojo Bus Terminal in Ibadan, engines warm up and journeys begin. Commuters move quickly, drivers prepare for long hours on the road, and traders set the tone for the day ahead. It is within this rhythm of urgency and ambition that NESCAFÉ is deepening its everyday presence. As Nigeria’s leading coffee brand, NESCAFÉ has introduced a new kiosk at Ojo Bus Terminal in Ibadan, Oyo State, bringing its signature blend of taste and momentum to helping Nigerians start strong and finish strong. In Nigeria, the day often begins in motion, at bus parks, markets, and commercial centres…
OpenAI has signed an agreement with the United States defence department to deploy its artificial intelligence models within the department’s classified network, marking a significant expansion of AI use in sensitive government systems. Sam Altman, Chief Executive Officer, announced the deal on Saturday via his X account, describing it as the outcome of extensive discussions focused on safety, governance and responsible use of advanced AI technologies. The agreement allows OpenAI’s models to operate within secure government infrastructure under strict guardrails and technical constraints. Altman said the partnership aligns with OpenAI’s core safety principles, including prohibitions on domestic mass surveillance and…
Airlines across Asia and Europe have suspended flights and cancelled services after escalating military strikes between the United States, Israel and Iran triggered sweeping airspace closures across the Middle East. A Reuters report on Saturday showed flight-tracking maps with virtually empty skies over Iran, Iraq, Kuwait, Israel and Bahrain, as carriers halted operations or rerouted aircraft to avoid affected corridors. The disruption follows coordinated strikes on Iran by the United States and Israel, and Iran’s subsequent missile retaliation, prompting several countries to shut or restrict their airspace amid heightened security risks. Airports in key Gulf transit hubs were among the…
MTN Nigeria Communications Plc has posted a dramatic return to profitability in 2025, reporting a pre-tax profit of N1.70 trillion compared to a pre-tax loss of N550.3 billion in 2024. The audited results, filed on the Nigerian Exchange Limited (NGX), mark one of the strongest earnings recoveries in the company’s history, driven by robust service revenue growth and a sharp turnaround in foreign exchange dynamics. In the fourth quarter alone, pre-tax profit rose 248.8% to N569.6 billion from N163.3 billion in Q4 2024, reflecting sustained revenue expansion and improved margins. Following the strong performance, the board proposed a final dividend…
The Rural Electrification Agency (REA) will spend N100 billion in 2026 to install hybrid mini-grids across government agencies within and outside Abuja, as part of efforts to improve electricity reliability and reduce energy costs in the public sector. Abba Aliyu, Managing Director of the agency, disclosed this while speaking to journalists on the sidelines of the 2026 budget defence session organised by the House Committee on Rural Electrification in Abuja, according to the News Agency of Nigeria (NAN). Aliyu said the N100 billion allocation forms part of the agency’s broader N170 billion proposed budget for 2026. The funds will finance…
The Nigerian Shippers’ Council (NSC) and regional partners have intensified efforts to formalise cross-border commerce through the Border Information Centre (BIC), positioning it as a key tool for unlocking value in West Africa’s largely informal maritime-linked trade. At a multi-stakeholder sensitisation and dialogue session along the Seme–Krake axis, regulators, Customs authorities and regional trade bodies urged traders, farmers and logistics operators to leverage the BIC to navigate Nigeria’s land–sea trade interface with Benin Republic and the wider ECOWAS market. The programme, themed “Trade Now: Empowering Cross-Border Traders through the Trade Information Desk,” drew participants from the Nigeria Customs Service, the…