The harsh economic environment led to the closure of about 30 percent of Micro and Small Medium Enterprises (MSMEs) in Nigeria, amounting to about 7.2 million of the country’s estimated 24 million MSMEs, between 2023 and 2024, the Nigerian Economic Summit Group (NESG) has stated. Chief Economist and Director of Research at NESG, Dr. Segun…
A fatal auto crash along the Gombe–Yola Federal Highway has claimed the lives of eight persons, including a senior police officer, following a high-speed accident at Kaluwa village in Kaltungo Local Government Area. The incident reportedly occurred on Wednesday at about 3:00 p.m., involving a Hummer bus driven by 67-year-old Usman Ibrahim of Damilu, from…
The Federal Executive Council has officially directed the full implementation of the suspended Naira-for-Crude agreement with local refiners. The Ministry of Finance disclosed this on its official X handle titled “Update on the Crude and Refined Product Sales in Naira Initiative,” on Wednesday. Recall that the first phase of the six-month deal involving the Federal…
Two United Nations food agencies have warned that millions more people could face famine as funding shortages worsen already dire humanitarian conditions around the world. In a joint report released on Wednesday, the Food and Agriculture Organisation (FAO) and the World Food Programme (WFP) said that conflict and violence were driving acute food insecurity in…
Microsoft has terminated specific cloud services provided to the Israeli Ministry of Defense after an internal investigation linked its technology to mass surveillance of Palestinians. The company’s president, Brad Smith, announced in a statement on Microsoft’s blog that the tech giant had “ceased and disabled a set of services” used by Israel’s military intelligence unit,…
A top court in the British Virgin Islands has granted Chinese investors Zhongshan the authority to seize ÂŁ20 million ($25 million) from Nigeria’s foreign denominated assets over an Ogun trade zone deal that fell through in the early 2000s under then governor Ibikunle Amosun. Justice Paul Webster of the British Virgin Islands High Court on…
The Office of the Accountant-General of the Federation (OAGF) has assured Rivers State that it will continue to receive its federal allocations pending the outcome of ongoing legal appeals. This development comes amid heightened tension over a Federal High Court ruling that questioned the legitimacy of the state’s 2024 budget and legislative processes. Bawa Mokwa,…
A viral video circulating on social media has shown thousands of Nigerians struggling to receive loaves of bread distributed by chieftains of the All Progressives Congress (APC) in Lagos State. The incident took place during Nigeria’s 64th Independence Anniversary on Tuesday, sparking widespread reactions about the country’s growing economic hardship. In the video, citizens are…
The Bureau De Change (BDC) operators have lamented that they are close to going out of operations as most of its members are struggling to stay afloat and meet up with overhead expenses. These licensed currency traders have attributed this mainly to the suspension of dollar allocation by the Central Bank of Nigeria (CBN) to…
Nollywood actress and body positivity advocate, Monalisa Stephen has been confirmed dead after suffering from low blood sugar and internal bleeding. The sad incident happened on Tuesday, May 13, 2025, in Lagos, as confirmed by a close family member. The news was made public on Wednesday morning by the Chief Executive Officer of Best of…