₦airaland Forum

Nigeria Waives $32.8m Meta Fine, Raises Concerns Over Data Protection Enforcement

By Queen Madaki

Nigeria has quietly withdrawn a $32.8 million penalty earlier imposed on Meta Platforms Inc., sparking fresh concerns over transparency and consistency in the country’s data protection enforcement framework.

The fine, originally issued in February 2025 by the Nigeria Data Protection Commission (NDPC), followed allegations of violations under the Nigeria Data Protection Act 2023, according to The Business Bureau.

NDPC Accused Meta of Multiple Data Breaches

The penalty stemmed from an investigation launched in September 2023, which examined Meta’s handling of personal data belonging to more than 60 million Nigerian users.

Regulators accused the tech giant of several infractions, including failure to obtain explicit consent for behavioural advertising, unauthorised cross-border data transfers, and the collection of personal data from non-users.

The NDPC also raised concerns over algorithmic systems that could potentially expose users to financial and health-related risks.

At the time, the commission described the fine as part of efforts to strengthen digital rights protections in Nigeria and align with global enforcement trends seen in jurisdictions such as the United States, United Kingdom, and European Union.

Settlement Reverses Earlier Enforcement Action

However, newly disclosed documents reveal that the Nigerian government reversed its position in October 2025 following a settlement agreement with Meta.

Under the terms of the deal, Meta was absolved of the $32.8 million fine and instead required only to cover legal costs incurred by the government during court proceedings challenging the NDPC’s final orders.

The agreement was signed on October 30, 2025, and subsequently validated by the Federal High Court in Abuja on November 3, 2025.

Despite the court’s confirmation, the details of the settlement remained undisclosed until recently, raising concerns about regulatory transparency.

Experts Warn of Weakening Regulatory Deterrence

Legal experts have expressed concern that the reversal could undermine the credibility of Nigeria’s data protection regime.

“Removing penalties after such findings reduces the effectiveness of enforcement actions and weakens the credibility of compliance obligations,” said data protection lawyer Iliya-Ezekiel Ndatse.

The Business Bureau notes that the development has intensified scrutiny over how regulatory authorities handle high-profile compliance cases involving global technology firms.

Echoes of Past Tech Disputes

The case has drawn comparisons with Nigeria’s previous dispute with Twitter (now rebranded as X), which was banned in 2021 before a negotiated resolution was reached.

Analysts say the Meta settlement reflects a broader challenge faced by regulators in emerging digital economies, where governments must balance attracting foreign investment with enforcing strict data governance rules.

Unanswered Questions Over Future Enforcement

While Nigeria’s initial action against Meta was widely viewed as a sign of growing regulatory maturity, the subsequent reversal has raised questions about policy consistency.

The NDPC has yet to publicly explain the rationale behind waiving the fine, and Meta has not issued detailed comments beyond acknowledging the settlement.

The outcome leaves uncertainty over how Nigeria intends to enforce compliance in future data protection cases, particularly as digital platforms continue to expand their user base across the country.

Source: https://thebureau.com.ng/nigeria-waives-meta-fine-data-protection/

No thanks to greedy landlords and agents. They are quick to blame the government, but they are worse off.

NNPC Raises Alarm Over Fake Sale of Refinery Scrap Materials

By Enemona Samuel Endurance

The Nigerian National Petroleum Company Limited (NNPC) has raised the alarm over the circulation of false information claiming that it is selling refinery scrap materials, equipment, and components to individuals and private firms.

In a statement issued on Friday in Abuja, the company firmly denied authorising any such sales, describing the claims as misleading and fraudulent, according to The Business Bureau.

The statement, signed by the Chief Corporate Communications Officer, Andy Odeh, clarified that NNPC has not issued any request for bids, tenders, or expressions of interest regarding the disposal of refinery assets.

“NNPC Limited wishes to alert the public to the circulation of misleading and false information suggesting that the company is selling scrap materials, equipment, or components from its refineries,” the statement read.

NNPC Denies Any Scrap Sale Activity

The company categorically stated that it has not approved the sale of any items from the warehouses or inventories of its refineries, including facilities located in Port Harcourt, Warri, and Kaduna.

“NNPC Limited has not issued any request for bids, tenders, expressions of interest, or approvals for the sale of scrap materials or refinery components,” the company said.

NNPC emphasised that any legitimate disposal of assets would only be conducted through transparent and officially communicated processes in line with regulatory requirements.

Fraudsters Impersonating NNPC Officials

The oil company disclosed that it has received reports of individuals falsely presenting themselves as NNPC representatives or agents, claiming to facilitate the sale of refinery scrap materials.

It warned that such individuals are unauthorised and are attempting to defraud unsuspecting members of the public and corporate organisations.

The Business Bureau gathered that the company has urged stakeholders to remain vigilant and avoid engaging with anyone making such claims.

Public Advised to Exercise Caution

NNPC advised the public to disregard all solicitations related to the alleged sale of refinery equipment and to verify information only through its official communication channels.

“For the avoidance of doubt, NNPC Limited is not conducting, nor has it authorised, any sale of scrap metals, equipment, or refinery components from any of its facilities,” the statement added.

The company also encouraged anyone who encounters such fraudulent activities to report them to relevant law enforcement authorities.

Refinery Status and Ongoing Concerns

Despite repeated assurances, Nigeria’s state-owned refineries in Port Harcourt, Warri, and Kaduna have remained largely inactive over the years, raising concerns among stakeholders about their long-term viability.

However, NNPC Group Chief Executive Officer, Bayo Ojulari, has maintained that efforts to revive the refineries are ongoing.

The Business Bureau analysis indicates that misinformation surrounding refinery operations often thrives amid uncertainty in the sector, underscoring the need for clear and consistent communication from industry stakeholders.

Source: https://thebureau.com.ng/nnpc-fake-refinery-scrap-sale-alert/

TCN Commissions Ihovbor 330kV Lines, Boosts Power Evacuation Capacity

By Queen Madaki

The Transmission Company of Nigeria (TCN) has successfully commissioned the turn-in-turn-out connections for the Ihovbor/Benin and Ihovbor/Ajaokuta 330kV transmission lines, strengthening electricity evacuation capacity and grid stability.

The development, confirmed in a statement by the General Manager, Public Affairs, Mrs. Ndidi Mbah, marks a significant milestone in Nigeria’s power infrastructure upgrade, according to The Business Bureau.

The commissioning was completed at 19:05 hours on Wednesday, April 23, 2026.

Improved Power Transmission Capacity

Mbah stated that the newly completed connections deliver the Ihovbor transmission corridor, enabling improved power evacuation from key generation sources.

“Presently, the Ihovbor/Benin Transmission Line is transmitting 200MW, while the Ihovbor/Ajaokuta line is transmitting 90MW,” she said.

The upgrade is expected to enhance electricity supply efficiency across the network while supporting growing energy demand.

Support for Power Generation Companies

The improved infrastructure provides additional evacuation capacity for major generation companies, including Niger Delta Power Holding Company (NDPHC) and Azura Power.

Industry analysts note that efficient evacuation remains a critical bottleneck in Nigeria’s electricity value chain, often limiting the full utilisation of available generation capacity.

Boost to Grid Stability and Reliability

According to TCN, the new transmission links will significantly improve grid stability and reliability, particularly in regions connected to the Ihovbor power plant.

The project forms part of broader efforts to modernise Nigeria’s transmission network and reduce system disruptions.

The Business Bureau analysis indicates that continued investments in transmission infrastructure are essential to unlocking Nigeria’s full power generation potential and improving electricity supply nationwide.

Source: https://thebureau.com.ng/tcn-ihovbor-330kv-lines-power-boost/

AI Could Replace Human Engineering Designs, Dangote Warns at Academy Induction

By Queen Madaki

The emergence of artificial intelligence (AI) could disrupt traditional engineering systems and replace designs historically handled by human engineers, according to Africa’s richest industrialist, Aliko Dangote.

Speaking at his induction as an Honorary Fellow of the Nigerian Academy of Engineering in Lagos, Dangote urged professionals to take a proactive role in shaping the future of the discipline, a development closely followed by The Business Bureau.

He warned that AI is rapidly transforming industries and could fundamentally alter how engineering is practised.

“It is possible that AI will soon phase out engineering designs usually undertaken by human engineers,” Dangote said.

Engineers Must Adapt to AI Disruption

Dangote emphasised the need for innovation and strategic engagement, urging engineers to actively shape how AI is integrated into education and real-world applications.

He called on professionals to influence curriculum development and ensure that emerging technologies enhance rather than replace human expertise.

“Engineers must step in and lend their voice on how AI will affect how the profession is taught and practised,” he stated.

Engineering Remains Central to Industrial Growth

Despite the rise of artificial intelligence, Dangote reaffirmed the critical role of engineering in national development and industrialisation.

He described engineering as the foundation of economic progress, stressing that no country can industrialise without it.

“Engineering is more than a profession. It is a language of progress… No nation can industrialise without the ingenuity of engineers,” he said.

He highlighted that the Dangote Group’s industrial success, including its refinery and fertiliser operations, was built on strong engineering expertise.

Investment in Engineering Talent

Dangote noted that his conglomerate remains Nigeria’s largest employer of engineering and technology graduates, with engineers forming a significant portion of its workforce.

He disclosed that the company has invested heavily in capacity development through training programmes and international exposure.

According to him, the Dangote Academy was established to bridge the gap between academic knowledge and industrial application, with hundreds of engineers trained both locally and abroad.

Call for Stronger Talent Development

Dangote warned that Nigeria must significantly deepen its engineering talent pool to remain globally competitive.

He cited China’s large-scale investment in engineering education as a model for building a strong industrial base.

Recognition by Nigerian Academy of Engineering

President of the Nigerian Academy of Engineering, Prof. Rahamon Bello, said Dangote’s induction recognises his contributions to engineering-driven industrialisation.

He described the Dangote Refinery as one of the most ambitious engineering projects in Africa.

The Lagos State Government also praised the industrialist’s impact, noting that his investments have created jobs and driven economic growth across multiple sectors.

The Business Bureau analysis indicates that while AI presents both risks and opportunities, the future of engineering will depend on how effectively professionals adapt to emerging technologies.

Source: https://thebureau.com.ng/ai-replace-engineers-dangote-warning/

Naira Weakens to N1,355/$ as FX Pressure Mounts Amid Declining Reserves

By Enemona Samuel Endurance

The Nigerian naira came under renewed pressure in the foreign exchange market, weakening to N1,355/$ on Thursday amid persistent volatility and declining external reserves.

Data from the Central Bank of Nigeria (CBN), reviewed by The Business Bureau, showed the naira depreciated from N1,348.1/$ recorded on Wednesday.

The latest movement extends a gradual downward trend observed in recent sessions, reflecting both domestic pressures and global market dynamics.

What The Data Is Saying

Recent figures indicate a steady depreciation of the naira alongside a marginal decline in Nigeria’s external reserves, highlighting sustained pressure in the foreign exchange market.

The naira weakened to N1,355/$ on Thursday from N1,348.1/$ on Wednesday
Intraday trading ranged between N1,350/$ and N1,355.8/$, with an average rate of N1,354.19/$
Total interbank deals stood at 46, according to CBN data
A week earlier, the currency closed at N1,341.01/$, confirming a gradual depreciation trend
External reserves declined to $48.48 billion from $48.54 billion recorded earlier in the week

The decline in reserves suggests reduced capacity for sustained intervention in the FX market, reinforcing pressure on the local currency.

More Insights

Global developments have also contributed to the naira’s weakness, as rising geopolitical tensions boosted demand for the U.S. dollar.

Safe-haven demand strengthened the dollar amid stalled negotiations between the United States and Iran, while tensions around the Strait of Hormuz raised concerns about global oil supply disruptions.

The dollar index hovered around 98.82, remaining on track for a weekly gain, while other major currencies such as the euro, British pound, and Japanese yen weakened.

Emerging market currencies, including the Philippine peso, Malaysian ringgit, and Indian rupee, also recorded losses, reflecting broader global pressure.

What You Should Know

The outlook for the naira reflects a complex interplay of domestic and global factors.

While higher oil prices could support Nigeria’s foreign exchange inflows, global uncertainties and capital flow pressures may offset these gains.

Earlier this week, the naira depreciated to N1,349/$ from N1,342.5/$, reinforcing the current trend.

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has maintained that fluctuations in external reserves should not be overinterpreted.

“The focus should not be on short-term movements but on overall macroeconomic stability,” he stated.

The CBN projects that Nigeria’s external reserves could rise to $51 billion by the end of 2026 as part of its broader stabilisation strategy.

The Business Bureau analysis indicates that sustained FX stability will depend on improved dollar inflows, investor confidence, and effective monetary policy coordination.

Source: The Business Bureau

Food Prices Remain High Despite N7.65 Trillion Imports, Raising Concerns Over Policy Impact

By Queen Madaki

According to The Business Bureau, food prices in Nigeria have remained persistently high despite government interventions and food imports valued at N7.65 trillion in 2025, raising concerns about the effectiveness of policy measures aimed at easing cost pressures on households.

Insights gathered by The Business Bureau show a widening gap between fiscal interventions and actual market outcomes, as increased spending on palliatives and imports has yet to significantly improve affordability for millions of Nigerians.

Data reviewed indicates that while government spending and imports have increased, inflationary pressures across key food categories remain elevated.

What The Data Is Saying

Available figures show that rising fiscal interventions and import volumes have not translated into meaningful reductions in food prices.

The Federal Government spent N9.74 billion on food palliatives in 2024, according to BudgIT’s GovSpend platform

In 2023, N185 billion was distributed to states and the FCT for rice and fertiliser procurement

Nigeria’s food import bill rose to about $10 billion in 2023, including $3 billion spent on grains

Food and beverage imports increased from N3.83 trillion in 2023 to N6.58 trillion in 2024 and N7.65 trillion in 2025

Food inflation stood at 14.31% year-on-year in March 2026, contributing to overall inflation of 15.38%

Although the government introduced a zero-duty levy on selected food imports in 2024, which helped moderate inflation temporarily, prices have continued to rise in 2026.

More Insights

Experts say the persistence of high food prices reflects deep structural inefficiencies within Nigeria’s food system rather than insufficient government spending.

Agricultural economist Dr. Adebayo Oladipo explained that weak supply chains and post-harvest losses continue to limit the effectiveness of interventions.

“If the supply chain is broken and storage is poor, increased funding will not automatically reduce prices,” he said.

Development expert Dr. Zainab Usman highlighted rising fuel costs as a major contributor to food inflation, noting that transportation costs are passed across the entire value chain.

Economist Ibrahim Yusuf pointed to exchange rate volatility, explaining that imported inputs such as fertiliser and machinery continue to drive up production costs.

Security challenges in farming regions have also reduced output, while climate shocks such as floods and droughts continue to disrupt agricultural cycles.

Experts warn that reliance on imports offers only short-term relief while exposing the country to global price fluctuations and foreign exchange constraints.

Impact On Households

Rising food prices are intensifying the cost-of-living crisis, with households forced to adjust consumption patterns.

According to analysts, many families are cutting back on both the quantity and quality of food, with potential long-term implications for health and productivity.

They also note that even when inflation slows, prices do not decline but simply rise at a slower pace, meaning pressure on consumers remains.

What You Should Know

The Federal Government has continued to roll out reforms aimed at strengthening agriculture and improving food security.

A N1 billion agricultural education reform programme has been introduced

A N250 billion facility has been approved for the Bank of Agriculture to support farmers

A $1 billion intervention partnership with Afreximbank is targeting value chain development

Experts, however, stress that sustainable price stability will depend on long-term structural reforms, including investment in storage, logistics, mechanisation, and rural infrastructure.

Without these changes, The Business Bureau analysis suggests that food price volatility is likely to persist despite increased government spending.

Source: https://thebureau.com.ng/food-prices-nigeria-high-despite-imports/

[i]APC Shifts Presidential Primary to May 23 Ahead of 2027 Elections

The All Progressives Congress (APC) has officially rescheduled its presidential primary election from May 15 and 16 to May 23, 2026, as part of adjustments to its timetable for the 2027 general elections.

The Bureau News reports that the party also fixed its governorship primaries for May 21, 2026, in line with the revised schedule.

The announcement was made by the APC Deputy National Publicity Secretary, Duro Meseko, at the end of the party’s 186th National Working Committee meeting held in Abuja.

Revised Schedule for Primaries and Screening

According to Meseko, the party has also adjusted the timeline for screening aspirants and other key activities.

Sales of nomination forms will now run from April 25 to May 2, 2026, while submission of completed forms is expected to close on May 4, 2026.

Screening of aspirants for various elective positions will take place between May 6 and May 8, with presidential aspirants scheduled for screening on May 9, 2026.

The publication of screening results is slated for May 11, while appeals arising from the screening process will be addressed between May 12 and May 13.

Updated Primary Election Dates

The revised timetable outlines the following primary election dates:

House of Representatives – May 15, 2026
Senate – May 18, 2026
State House of Assembly – May 20, 2026
Governorship – May 21, 2026
Presidential – May 23, 2026

Meseko noted that post-primary appeals will be conducted on staggered dates between May 18 and May 25, depending on the category of election.

Modes of Primaries and Party Assurance

The APC reaffirmed its adoption of both direct and consensus modes of primaries, in accordance with the Electoral Act 2026.

Meseko explained that while consensus candidates may emerge where agreed upon, any disagreement among aspirants would automatically trigger direct primaries.

He also dismissed speculation that nomination forms would be restricted, assuring that all aspirants have equal access.

“Nomination forms for all aspirants seeking offices under the APC are available for all and not reserved for any individual,” he said.

INEC Election Timeline

The Independent National Electoral Commission (INEC) has scheduled the presidential and National Assembly elections for January 16, 2027, while governorship and state assembly elections will hold on February 6, 2027.

Campaigns for presidential and National Assembly elections are expected to commence on August 19, 2026, while governorship campaigns will begin on September 9, 2026.

The Bureau News understands that party primaries across all political parties are expected to hold between April 23 and May 30, 2026, in line with INEC guidelines.

Source: https://thebureaunews.com/apc-reschedules-presidential-governorship-primaries/

APC Elders Raise Alarm Over Crisis in Kogi, Urge Tinubu to Intervene

By Queen Madaki

Elders of the All Progressives Congress (APC) in Kogi State have raised concerns over deepening internal divisions within the party, calling on President Bola Ahmed Tinubu and the party’s National Chairman, Nentawe Yilwatda, to urgently intervene.

The Bureau News reports that the elders warned that the growing crisis, if left unchecked, could weaken the party’s structure and affect its performance in future elections.

Elders Accuse Governor Ododo of Fostering Disunity

In a statement issued on Thursday by the Kogi State APC Elders Assembly, the group alleged that Governor Ahmed Usman Ododo is contributing to disunity and disaffection among party members.

The statement was signed by key figures, including Dr. Hezekiah Ikusemoro (Kogi West), Alhaji Adaviriku Omeiza (Kogi Central), and Barrister David Ameh (Kogi East).

According to the elders, the current political climate within the party has created tension across the three senatorial districts, raising fears of internal fragmentation.

Vote of No Confidence Move Sparks Controversy

The elders condemned a planned move by some APC leaders from Kogi West, reportedly heading to Abuja to stage what they described as a renewed vote of no confidence against Senator Sunday Steve Karimi.

They described the action as a “sponsored charade” that does not reflect the views of constituents, insisting that the senator continues to enjoy widespread support.

The group warned that such actions only waste public resources and further weaken party unity in Kogi State.

The elders also recalled a similar attempt on March 12, 2026, in Kabba-Bunu Local Government Area, which they said was rejected by party stakeholders across the district.

Party Congresses Deepen Internal Crisis

The APC elders further blamed the worsening crisis on the conduct of recent party congresses in the state, alleging that key stakeholders were sidelined during the process.

They claimed that party positions were filled without proper consultation, resulting in widespread dissatisfaction and unrest among members.

Warning of Political Fallout Ahead of Elections

The group raised concerns about growing disillusionment among party members, particularly in Kogi East, where they noted increasing silence and disengagement.

They also pointed to perceived favoritism in Kogi Central, warning that several local government areas feel marginalised and excluded from party activities.

According to the elders, the unresolved grievances could trigger political realignments, as aggrieved members may seek alternative platforms ahead of upcoming elections.

Source: https://thebureaunews.com/apc-crisis-kogi-tinubu-intervention/

Trump Threatens Strikes on Iran Infrastructure Ahead of Fresh Talks

By Enemona Samuel Endurance

The President of the United States, Donald Trump, has threatened to destroy Iran’s power plants and bridges if upcoming negotiations scheduled for Monday, April 20, fail to produce an agreement.

The warning was issued on Sunday, April 19, via Truth Social, the social media platform owned by Trump.

The development comes amid escalating tensions between the United States and Iran following the collapse of earlier diplomatic efforts.

The planned negotiations are expected to take place in Islamabad, Pakistan, as both sides attempt to revive talks after weeks of rising military and economic pressure.

What They Are Saying

Trump described the proposed agreement as a “very fair and reasonable deal,” urging Iran to accept it while warning of severe consequences if negotiations fail.

“We’re offering a very fair and reasonable DEAL, and I hope they take it because, if they don’t, the United States is going to knock out every single power plant and every single bridge in Iran. No more Mr. Nice Guy!”

He confirmed that U.S. representatives would travel to Islamabad for the talks, expected to hold Monday evening, adding that the outcome would determine Washington’s next move.

More Insights

Trump also raised fresh allegations concerning maritime disruptions linked to Iran in the Strait of Hormuz, a critical global shipping corridor.

He alleged that Iran fired shots in the Strait of Hormuz, describing it as a violation of a ceasefire agreement
He claimed the shots targeted a French vessel and a UK-linked freighter
He warned that Iran could attempt to shut down the Strait despite U.S. naval presence
He estimated economic losses of up to $500 million daily due to disruptions
He noted that shipping activity may shift toward U.S. ports including Texas, Louisiana, and Alaska

The Strait of Hormuz remains one of the world’s most important energy routes, accounting for roughly one-fifth of global oil flows.

Get Up To Speed

Tensions in the Middle East have intensified since late February 2026, involving the United States, Iran, and Israel.

A ceasefire agreement was reached on April 8 after weeks of escalation
However, negotiations collapsed after 21 hours of talks in Islamabad on April 12
U.S. Vice President JD Vance confirmed that both sides failed to resolve key issues
Following the breakdown, the U.S. imposed a naval blockade restricting shipments from Iranian ports
The Strait of Hormuz briefly reopened, but tensions remain elevated

The situation remains fluid, with repeated accusations of ceasefire violations and renewed pressure on maritime activity.

What You Should Know

The ongoing tensions have significant global economic implications, particularly for energy and aviation sectors.

The Strait of Hormuz handles about 20% of global energy shipments
Disruptions have already impacted crude oil and refined product flows
The aviation sector is facing pressure due to rising jet fuel costs
The International Energy Agency (IEA) warned of potential short-term fuel constraints in Europe

In Nigeria, jet fuel prices have surged sharply, rising from about N900 per litre in February to approximately N3,300 by mid-April.

The increase has triggered concerns among airlines, with some threatening operational disruptions due to rising costs.

The Federal Government has intervened, urging airlines to maintain operations while discussions continue.

The Minister of Aviation, Festus Keyamo, confirmed that an emergency stakeholder meeting has been scheduled for April 22, 2026, to address the situation. The Business Bureau.

Source: https://thebureau.com.ng/trump-iran-strike-threat-talks/

JAMB Adjusts 2026 UTME Schedule Over Early Arrival Complaints

By Queen Madaki

The Joint Admissions and Matriculation Board (JAMB) has announced a slight adjustment to the schedule for the 2026 Unified Tertiary Matriculation Examination (UTME) following widespread complaints over early arrival times and logistical challenges.

The update was disclosed in a statement shared on the Board’s official X (formerly Twitter) page.

The adjustment is aimed at improving coordination and ensuring a smoother examination process for candidates across the country.

What They Are Saying

JAMB explained that the revised schedule is part of ongoing efforts to enhance the conduct of the examination and address concerns raised during previous UTME and mock sessions.

Under the new arrangement, candidates scheduled for the first session are now expected to arrive at 7:00 AM instead of the earlier 6:30 AM.

The first session will begin at 8:30 AM and end at 10:30 AM.

The Board also confirmed that candidates will continue to sit for the examination in four sessions daily from Monday to Thursday.

Monday to Thursday Schedule

Session 1: Arrive 7:00 AM | 8:30 AM – 10:30 AM
Session 2: Arrive 9:00 AM | 11:00 AM – 1:00 PM
Session 3: Arrive 11:00 AM | 1:30 PM – 3:30 PM
Session 4: Arrive 2:00 PM | 4:00 PM – 6:00 PM

Friday Schedule

Session 1: Arrive 7:00 AM | 8:30 AM – 10:30 AM
Session 2: Arrive 9:00 AM | 11:00 AM – 1:00 PM
Session 3 (Reserved): Arrive 11:00 AM | 1:30 PM – 3:30 PM
Session 4: Arrive 2:00 PM | 4:00 PM – 6:00 PM

What You Should Know

The early arrival requirement has been a major concern for candidates and parents, particularly during the recently concluded UTME mock examination.

Many candidates were previously required to arrive at centres as early as 6:30 AM, forcing families to begin journeys before dawn, especially when assigned to distant examination centres.

Parents raised safety concerns over early morning travel, citing transportation challenges and security risks in some areas.

Despite arriving early, many candidates reportedly experienced long waiting times due to delays and technical issues, with some centres failing to commence exams on schedule.

The 2026 UTME mock examination was also affected by widespread technical glitches, including network failures and system errors, which prevented some candidates from sitting for the test.

In response, JAMB delisted over 20 Computer-Based Test (CBT) centres across 11 states that failed to meet the required technical standards during the mock exercise.

The Board said the measures are part of broader efforts to improve the reliability and efficiency of the main UTME examination.

Source: https://thebureau.com.ng/jamb-2026-utme-schedule-adjustment/

Nigerian Navy Seizes 939 Metric Tons of Stolen Crude Worth N4bn

By Enemona Samuel Endurance

The Nigerian Navy has intercepted two vessels carrying 939 metric tons of suspected stolen crude oil valued at over N4 billion, in a major crackdown on oil theft in the Niger Delta region.

The disclosure was made by the Commander of Joint Task Force South South Operation Delta Safe, Olugbenga Oladipo, while briefing journalists in Calabar on Sunday.

According to the Navy, the operation was carried out at midnight on April 8, when the vessels were apprehended at a wellhead within the Calabar/Akwa Ibom Joint Operation Area.

What They Are Saying

Oladipo stated that the successful interception followed credible intelligence gathered by naval authorities, leading to a coordinated overnight operation.

He explained that the mission was executed with strong institutional support from key national security offices.

“The Chief of Naval Staff and the Chief of Air Staff provided us with all the necessary assets we used in carrying out this operation,” he said.

The commander also confirmed that 26 crew members were arrested in connection with the seized vessels.

He added that the operation was supported by the Office of the National Security Adviser (NSA) and the Chief of Defence Staff (CDS), underscoring a coordinated national response to oil theft.

More Insights

Providing further operational details, Oladipo disclosed that additional naval and air assets were deployed immediately after the vessels were intercepted.

A naval vessel and a helicopter were mobilised to secure the area and enhance surveillance.

“The helicopter provided real-time aerial imagery of the vessels while Nigerian Navy Ship SHERE took custody of the vessels at the offshore location,” he explained.

The vessels and their crew were subsequently transferred to a naval jetty with support from other units.

He further revealed that another vessel, MT Steliosk, was arrested on April 10 in a related operation, indicating sustained enforcement efforts in the region.

What You Should Know

The latest seizure adds to a growing list of crackdowns by Nigerian security agencies targeting crude oil theft and illegal refining activities.

In recent operations, the Navy recovered over 20,000 litres of suspected stolen crude oil and dismantled illegal refining sites in Rivers State.

Similarly, about 44,000 litres of illegally refined petroleum products were intercepted, with multiple suspects arrested.

According to the Defence Headquarters, troops of Operation Delta Safe destroyed 101 illegal refining sites and arrested 219 suspects in the first quarter of 2026.

During the same period, more than 547,920 litres of stolen petroleum products were recovered, including crude oil, diesel, kerosene, and petrol.

Data from the Nigerian Upstream Petroleum Regulatory Commission shows that crude oil theft has caused significant losses over the years, with Nigeria recording 37.6 million barrels lost in 2021, 20.9 million barrels in 2022, 4.3 million barrels in 2023, and 4.1 million barrels in 2024.

While losses have declined, the persistence of oil theft continues to pose a major challenge to Nigeria’s energy sector and revenue generation.

Source: The Business Bureau

Malami Returns to Kebbi After 123 Days, Signals Political Showdown with APC

By Aliyu Usman, Birnin Kebbi

The Bureau News reports that former Attorney General of the Federation, Abubakar Chika Malami, has returned to Kebbi State after 123 days in detention, receiving a rousing welcome from supporters in Birnin Kebbi.

His arrival on Friday sparked widespread excitement across the state capital, as crowds gathered along major routes to celebrate his return.

In a statement issued by his Special Assistant on Media, Bello Muhammed Doka, Malami’s homecoming was described as the beginning of a renewed political movement aimed at challenging the All Progressives Congress (APC).

According to the statement, the former minister’s return represents not just a personal milestone but a broader struggle for political change in Kebbi State and Nigeria.

“This is not just a homecoming; it is a journey of courage, resilience, and determination in the face of what we consider unwarranted persecution,” the statement read.

Doka alleged that Malami endured prolonged detention across multiple security agencies, including the Economic and Financial Crimes Commission (EFCC) and the Department of State Services (DSS), where he was granted bail on several occasions but rearrested.

He further claimed that Malami was subjected to repeated legal proceedings and denied certain fundamental rights during the period.

The statement added that the former Attorney General remains committed to pursuing his political ambitions and mobilising support across all levels.

Supporters who thronged the streets to welcome him were described as defying harsh weather conditions, reflecting what aides called his growing political influence and acceptance within the state.

The Bureau News understands that Malami’s return is expected to reshape the political landscape in Kebbi State ahead of future electoral contests, particularly within the ruling APC.

Source: https://thebureaunews.com/malami-returns-kebbi-123-days-detention/

Manufacturing Sector Generates N1.17trn VAT in 2025, Remains Top Contributor

By Queen Madaki

Nigeria’s manufacturing sector generated a total of N1.17 trillion in Value Added Tax (VAT) in 2025, reinforcing its position as the largest contributor to government tax revenue.

This is according to the latest data released by the National Bureau of Statistics (NBS).

The figure marks a significant increase from the N803.53 billion recorded in 2024, highlighting the sector’s growing importance to Nigeria’s fiscal landscape.

Despite prevailing economic headwinds, the manufacturing sector has demonstrated strong resilience, sustaining revenue growth and maintaining dominance in VAT contributions.

What the Data is Saying

Breakdown of the NBS data shows that VAT contributions from the manufacturing sector remained relatively stable throughout 2025.

Q1 2025: N286.95 billion
Q2 2025: N297.68 billion
Q3 2025: N290.79 billion
Q4 2025: N292.12 billion

The total N1.17 trillion represents a sharp increase from N803.53 billion recorded in 2024, where quarterly contributions ranged from N177.17 billion in Q1 to N237.52 billion in Q4.

This steady performance underscores the sector’s ability to sustain revenue generation despite macroeconomic pressures.

Get Up to Speed

Earlier reports show that Nigeria’s manufacturing sector accounted for 8.05% of real Gross Domestic Product (GDP) in 2025, slightly lower than the 8.24% recorded in 2024.

The sector continues to play a critical role in driving Nigeria’s non-oil economy, with industries such as consumer goods, cement production, and industrial materials contributing significantly to output and revenue.

Manufacturing remains central to the country’s economic diversification strategy, helping to reduce reliance on crude oil revenues.

However, operators in the sector continue to grapple with persistent challenges, including high production costs, exchange rate volatility, and infrastructure deficits.

More Insights

Nigeria’s overall VAT performance provides additional context to the manufacturing sector’s contribution.

VAT collections stood at N2.19 trillion in Q4 2025, representing a 3.78% decline from N2.28 trillion recorded in Q3 2025.

Despite the quarterly dip, VAT revenue increased by 12.84% year-on-year, reflecting sustained economic activity.

Local VAT: N1.16 trillion
Foreign VAT: N503.13 billion
Import VAT: N535.73 billion

Earlier in the year, VAT rose to N2.28 trillion in Q3 from N2.06 trillion in Q2, marking a 10.66% increase.

The data reflects a diversified VAT base supported by domestic production, imports, and international transactions.

What You Should Know

Recent policy reforms are expected to further strengthen VAT collection and expand Nigeria’s tax base.

In March 2026, the Federal Government introduced presumptive tax rules targeting Micro, Small, and Medium Enterprises (MSMEs) to improve compliance.

In June 2025, President Bola Ahmed Tinubu signed four major tax reform laws aimed at enhancing tax administration and boosting revenue mobilisation.

These measures are designed to reduce Nigeria’s dependence on oil revenues while strengthening non-oil income sources.

Source: The Business Bureau

The Bureau News reports that the Catholic Diocese of Kontagora has called on the Federal Government and the Kebbi State Government to take urgent and decisive steps to restore security and safeguard lives in Shanga Local Government Area.

The Bishop of the Diocese, Most Reverend Bulus Yohanna, made the appeal during a press briefing held at Saint Dominic Catholic Church in Yelwa Yauri, Yauri Local Government Area of Kebbi State, following the recent deadly attack in Shanga.

Speaking through the Diocesan Director of Social Communications, Rev. Father Mathew Kabirat, the cleric stressed the need for immediate intervention to enable displaced residents return safely to their communities.

He disclosed that the attack has left about 500 persons displaced, including men, women, and children, who are now in urgent need of food, clean water, medical care, and proper shelter.

“We are calling for urgent action to restore peace and provide humanitarian support to affected communities,” he said.

The Diocese revealed that it is currently providing temporary shelter for 491 internally displaced persons at Saint Dominic Catholic Church in Yauri.

Most Reverend Yohanna further called for long-term solutions to the recurring security challenges, including increased deployment of security personnel, rehabilitation of affected communities, and sustained welfare support for victims.

According to him, the attack on Debe village in Shanga Local Government Area occurred on Easter Sunday, leaving at least 24 people dead, many others injured, and properties worth millions of naira destroyed.

He noted that the violence affected people across religious lines, including Christians, Muslims, and adherents of traditional beliefs, stressing that the Diocese’s intervention is driven by the need for justice and humanity.

The cleric added that the violence extended to neighbouring communities such as Birniwa, where markets and the emir’s residence were reportedly set ablaze, as well as Kalkami, which also witnessed widespread destruction.

He commended the efforts of the Yauri Local Government Council and the Kebbi State Government for providing food items, cash support, and other relief materials to victims.

However, he urged individuals, non-governmental organisations, and the international community to step in with additional humanitarian assistance to address the growing crisis.

The Bureau News understands that calls for stronger security presence and coordinated relief efforts continue to grow as affected communities struggle to recover from the attacks.

Source: https://thebureaunews.com/catholic-diocese-calls-security-shanga-kebbi/

By Abdullahi Tukur Birnin Kebbi

The Bureau News reports that the Kebbi State Police Command has launched a statewide clearance operation following a deadly attack in Shanga Local Government Area that left dozens of casualties during the Easter period.

In a statement issued by the Command’s Public Relations Officer, SP Bashir Usman, the police said the operation was in response to coordinated attacks on communities including Gebe, Kalkami, Kawara, Kasoshi, Awaye, Tungar Rini, Binuwa, and Dabe.

The attacks reportedly resulted in 44 fatalities, prompting swift security intervention across the affected areas.

According to the statement, the operation is being carried out in line with directives from the Inspector-General of Police, IGP Olatunji Rilwan, as part of efforts to combat banditry and other violent crimes in the state.

The Command disclosed that massive deployments of police personnel, alongside other security agencies, have been undertaken, leading to the restoration of relative calm in the affected communities.

Investigations into the incident, it added, are already underway.

The ongoing clearance exercise is targeting high-risk zones such as forests, farmlands, border communities, and remote settlements, with a focus on coordinated patrols and intelligence-driven operations.

“The operation involves intelligence-based stop-and-search activities and joint security actions aimed at dismantling criminal networks operating within the state,” the statement noted.

As part of the operation, the police confirmed the recovery of two AK-47 rifles along the Illo–Kamba axis, highlighting the growing impact of intelligence-led policing strategies.

The Commissioner of Police, CP Umar M. Hadejia, called on residents to remain vigilant and support security agencies with credible information to enhance ongoing operations.

He also urged traditional rulers, community leaders, religious institutions, and youth groups to actively collaborate with law enforcement agencies in ensuring the safety and security of lives and property.

The Bureau News understands that the clearance operation will continue across strategic locations in the state as authorities intensify efforts to restore lasting peace.

Source: https://thebureaunews.com/kebbi-police-clearance-operation-ak47-recovery/

24 Killed in Kebbi Easter Attack as Terrorists Burn Homes, Shops – The Bureau News | Nigeria News Today

By Abdullahi Tukur

Birnin Kebbi — The Bureau News reports that no fewer than 24 people have been confirmed dead following a deadly attack by suspected terrorists in Debe community, Shanga Local Government Area of Kebbi State.

The attack, which occurred in the early hours of Monday during the Easter period, has plunged the community into mourning, leaving several residents displaced and properties destroyed.

Death Toll Rises in Kebbi Community Attack

According to a statement signed by Rev. Fr. Matthew Stephen Kabirat, Director of Social Communications, Catholic Diocese of Kontagora, the victims cut across religious and social groups, highlighting the indiscriminate nature of the violence.

Those confirmed dead include five members of the Catholic community: Solomon Gyara, Amos Kagbede, John Solomon, Luka Ishaku, and Yahaya Ayuba.

Two other victims from different Christian denominations — Pastor Ibrahim Mokoshi and Hassan Karaya — were also among those killed.

The statement further revealed that several traditional worshippers lost their lives, including Daura Wojjo, Kogoli Dogo Maigoro, Magandalla Gbakutali, Kalema Gbakutali, Yaron Daura, Abanza Bawa, and Jato Karaya.

Additionally, six Muslim victims were identified as Zamani Tanko, Wanzam Bushe, Shekaru Guntu, Sani Maiginan Rijiya, Awwal Shehu Makeri, and Abakar Lenike.

Homes, Shops Razed

Beyond the loss of lives, the scale of destruction was extensive.

The residence of the catechist, Mr. Zakariya Sule, was also destroyed, alongside several homes belonging to residents including Ishaku Ropia, Jonathan Kungusan, Guntu, Ayuba, Solomon, and Yohanna.

Local businesses were not spared, as at least 14 shops were burnt during the attack, affecting traders such as Ibrahim Jangu, Musa Marafa, Emmanuel Auta, Habu, and Awwal Dandare.

Search Ongoing as Displacement Worsens

Community leaders disclosed that search and recovery efforts are still ongoing, raising fears that the death toll could increase further.

Residents have reportedly been displaced, with many struggling to come to terms with the scale of the devastation.

“The situation remains tense as displaced residents seek safety, while authorities continue rescue and recovery operations,” the statement noted.

Security Forces Deployed to Restore Calm

In a separate statement, the Kebbi State Police Command confirmed that suspected terrorists attacked Debe, Gebe, Kawara, Kalkami, and surrounding villages, exploiting the wetland terrain.

The Command’s Public Relations Officer, SP Bashir Usman, said security forces, including Police Tactical Units, the military, Marine Police, and local vigilantes, have been deployed to restore normalcy and secure the affected communities.

The police expressed condolences to families of the victims and assured residents of ongoing efforts to ensure safety and prevent further attacks.

The Bureau News gathered that calls are intensifying for urgent government intervention, a thorough investigation, and humanitarian support for affected families.

Source: The Bureau Newspaper

By Enemona Samuel Endurance

The Federal Government of Nigeria has increased its planned borrowing for 2026 to N29.20 trillion following a significant expansion in the proposed budget size and fiscal deficit.

The revised borrowing figure represents an increase of N11.31 trillion compared to the earlier projection of N17.89 trillion contained in the 2026 Abridged Budget Call Circular released in December 2025.

The updated estimate is captured in the 2026 Appropriation Bill approved by the National Assembly and detailed in the House of Representatives’ Order Paper dated March 31, 2026.

Fiscal Deficit Drives Borrowing Surge

According to official documents, the revised borrowing plan reflects a sharp increase in the fiscal deficit, now estimated at N31.46 trillion.

Total government expenditure is projected at N68.32 trillion, while revenues are expected to reach N36.87 trillion, creating a significant funding gap.

This imbalance has driven a heavier reliance on debt financing, with borrowing accounting for the bulk of deficit funding.

Other financing sources remain relatively limited, including N189.16 billion expected from asset sales and privatisation, as well as N2.05 trillion from multilateral and bilateral project-tied loans.

The earlier borrowing estimate of N17.89 trillion was based on a lower deficit projection of N20.12 trillion, highlighting the scale of the upward revision.

Revenue Growth Trails Spending Expansion

Government revenue for 2026 is projected at N36.87 trillion, supported by federation revenues, independent income, and earnings from government-owned enterprises.

N25.92 trillion from federation revenues
N4.31 trillion from independent revenues
N5.85 trillion from government enterprises
N1.37 trillion from grants and aid
N300 billion from special funds

Despite improved revenue projections, expenditure growth has outpaced gains, contributing to the widening deficit and increased borrowing requirement.

Debt Service Pressure Intensifies

Debt servicing remains one of the most significant pressure points in the 2026 budget framework.

Debt service is projected at N15.81 trillion, making it one of the largest expenditure components.

Domestic debt service: N10.16 trillion
Foreign debt service: N5.36 trillion

Recurrent non-debt expenditure is estimated at N15.43 trillion, while capital expenditure stands at N32.29 trillion, reflecting a strong focus on infrastructure and development projects.

Statutory transfers are projected at N4.80 trillion.

What You Should Know

President Bola Tinubu had earlier requested the National Assembly’s approval to increase the 2026 budget by N9 trillion, raising it from N58.4 trillion to N67.4 trillion.

Lawmakers proposed a mix of revenue-enhancing measures and increased borrowing to finance the expanded budget.

A key revenue strategy includes a $10 per barrel increase in the oil benchmark, expected to generate about N2.59 trillion in additional revenue.

The telecommunications sector is also projected to contribute significantly, with MTN Nigeria expected to generate N724 billion in company income tax, while Airtel Nigeria is projected to contribute N150 billion.

Despite these measures, lawmakers approved an additional N6.16 trillion in external borrowing to bridge the financing gap, noting that the overall debt level remains within manageable limits.

However, the growing reliance on borrowing continues to raise concerns about Nigeria’s rising debt burden and long-term fiscal sustainability.

Source: The Business Bureau

Police Arrest Suspected Bandit in Kwara During Joint Patrol Operation

By Queen Madaki

Operatives of the Nigeria Police Force, in collaboration with the National Forest Guards and members of the Kaiama Vigilante Group (KVG), have arrested a suspected bandit from Kogi State during a routine patrol in Kwara State, The Bureau News reports.

Joint Security Patrol Leads to Arrest

The suspect, identified as Mallami Abubakar, a 20-year-old from Isanlu Dankuturu in Kogi State, was apprehended on April 1, 2026, at about 8:00 a.m. in Nanu, Kaiama Local Government Area.

According to a statement issued by the Police Public Relations Officer, Adetoun Ejire-Adeyemi, the arrest was made during a coordinated patrol aimed at strengthening security across vulnerable border communities.

“On April 1, 2026, at about 0800 hours, a joint patrol team comprising Police operatives, the National Forest Guards, and members of the Kaiama Vigilante Group (KVG), while on routine patrol in Nanu, intercepted and arrested one Mallami Abubakar,” the statement said.

Suspect Linked to Terrorist Recruitment Plot

Preliminary investigations revealed that the suspect was allegedly recruited into a terrorist network by an associate identified as “Babi” from Babana Village in Borgu Local Government Area of Niger State.

Police said the suspect had been instructed to travel to Farinsuni via Baruten Local Government Area with the intention of joining a group believed to be affiliated with ISWAP/Lakurawa before his arrest.

“The individual reportedly invited him to travel to Farinsuni with the intention of joining a group believed to be affiliated with ISWAP/Lakurawa,” the command added.

Investigation Ongoing

The Kwara State Police Command confirmed that the suspect is currently in custody, while investigations are ongoing to determine the extent of his involvement and to track down other members of the network.

The Commissioner of Police, Ojo Adekimi, reaffirmed the command’s commitment to safeguarding lives and property across the state.

He also urged residents to remain vigilant and promptly report any suspicious activities to security agencies.

Security Vigilance Intensified

The Bureau News understands that joint security operations involving local vigilantes and federal agencies have been intensified across Kwara and neighboring states as part of broader efforts to combat banditry and terrorism in Nigeria.

Source: https://thebureaunews.com/police-arrest-suspected-bandit-from-kogi-joint-patrol/

Cc: Mynd44

Please consider for the fp.

Regards...

Cc: Mynd44

Please consider for the fp.

Regards

SWOOT Stocks Add N27.4trn as Nigerian Exchange Records Strong Q1 2026 Rally

By Queen Madaki

Stocks Worth Over One Trillion (SWOOT) listed on the Nigerian Exchange (NGX) recorded a combined capital gain of N27.448 trillion in the first quarter of 2026, reinforcing their dominance in Nigeria’s equity market.

The growth represents a 33.8% increase from the N85.86 trillion recorded at the beginning of the quarter.

Overall, the Nigerian stock market posted a total gain of N29.82 trillion, with market capitalization rising from N99.38 trillion to N129.20 trillion during the period.

Market Performance Breakdown

Data shows that the SWOOT category consisted of 24 companies as of Q1 2026, led by major players such as MTN Nigeria, BUA Foods, Dangote Cement, and BUA Cement.

Two new entrants — Ecobank Transnational Incorporated (ETI) and Wema Bank — joined the group, contributing a combined N547.45 billion to total market capitalization.

However, Fidelity Bank and Dangote Sugar Refinery exited the group before the end of the quarter after failing to sustain the required valuation threshold.

Top Gainers and Losers

MTN Nigeria emerged as the biggest gainer, adding N5.23 trillion to its market capitalization, reflecting a 48.73% increase.

On the downside, Nigerian Breweries recorded the largest loss, declining by 3.05% as its market value dropped from N2.33 trillion to N2.26 trillion.

Sectoral Contributions to Growth

Industrial Goods Sector

The industrial goods sector led overall performance, contributing N9.79 trillion to total gains.

BUA Cement: +N5.02 trillion (83% growth)
Dangote Cement: +N3.39 trillion (33% growth)
Lafarge Africa: +N1.38 trillion (63.49% growth)

Telecommunications Sector

The ICT/telecom sector added N6.1 trillion, driven by strong data revenue growth and subscriber expansion.

MTN Nigeria: +N5.23 trillion
Airtel Africa: +N853 billion

Oil and Gas Sector

The oil and gas sector contributed N4.5 trillion amid improved crude prices and production recovery.

Aradel Holdings: +N2.56 trillion
Seplat Energy: +N1.94 trillion

Banking Sector

The banking sector added N4.21 trillion, supported by improved earnings and investor confidence.

Zenith Bank: +N1.40 trillion
GTCO: +N749 billion
Stanbic IBTC: +N821 billion
UBA: +N341 billion
Access Holdings: +N258.6 billion

Agriculture Sector

Agricultural stocks contributed approximately N1.5 trillion.

Okomu Oil: +N860.66 billion
Presco: +N639 billion

Consumer Goods Sector

The FMCG sector posted a net gain of N1.05 trillion.

Nestlé Nigeria: +N1.14 trillion
Nigerian Breweries: -N71.36 billion
BUA Foods: slight decline

Services Sector

Transcorp Hotels added N328.79 billion, reflecting an 18.78% gain.

Utilities Sector

Performance remained largely flat, with Geregu Power maintaining stability while Transcorp Power recorded a marginal decline.

What Investors Should Know

SWOOT stocks — defined as companies with market capitalizations above N1 trillion — accounted for approximately 92% of the total market gain and 88.91% of total market capitalization in Q1 2026.

This underscores their critical role in shaping the direction of the Nigerian Exchange.

However, while SWOOT stocks delivered an average return of 33% year-to-date, lower-cap stocks significantly outperformed, posting gains of up to 300%.

This highlights a key investment strategy consideration — balancing exposure between large-cap stability and small-cap growth potential.

For investors seeking consistent returns, SWOOT stocks remain attractive due to their strong fundamentals, dividend-paying capacity, and market leadership.

Source: The Business Bureau

Nigeria–UK £746m Deal Raises Fresh Questions Over Ajaokuta Steel Revival | Nigeria News Today

The Bureau News reports that Nigeria’s long-standing ambition to revive the Ajaokuta Steel Company has come under renewed scrutiny following a £746 million export finance agreement with the United Kingdom.

The deal, signed under President Bola Ahmed Tinubu, is primarily aimed at modernising key seaports in Lagos, including Apapa and Tin Can Island. However, stakeholders argue that the structure of the agreement may disproportionately benefit the UK’s steel industry.

Concerns Over Steel Import Dependence

As part of the agreement, British Steel is expected to supply approximately 120,000 tonnes of steel billets valued at £70 million for the port upgrade project.

While the move is seen as a boost to UK manufacturing, critics say it underscores Nigeria’s continued dependence on imported steel despite the existence of the Ajaokuta Steel Company, one of Africa’s largest but dormant industrial assets.

The Bureau News gathered that the Federal Government has also explored alternative partnerships, including discussions with a Chinese firm over a proposed $2 billion investment aimed at reviving Ajaokuta.

Stakeholders React to Nigeria–UK Agreement

Public reactions have been mixed, with some Nigerians expressing concerns over the perceived imbalance in benefits.

According to social media commentators, a significant portion of the project’s value—estimated between 75% and 80%—could go to UK-based companies providing equipment, logistics, and technical expertise.

However, industry stakeholders have offered a more nuanced perspective.

Ibrahim Audu Abdurrahman, Chairman of the Iron and Steel Senior Staff Association of Nigeria (ISSSAN) at Ajaokuta, emphasized the importance of steel production to national development.

“Steel production drives industrial growth, creates jobs, attracts investment, and supports local industries. Abandoning Ajaokuta poses a serious threat to Nigeria’s economic future,” he said.

He added that the agreement could present opportunities for technology transfer from the UK to Nigeria, provided it is strategically managed.

Balancing Short-Term Gains With Long-Term Industrial Goals

Economists have highlighted the need for a balanced approach that addresses immediate infrastructure demands while safeguarding long-term industrial development.

Daniel Onyejiuwa, Head of the Economics Department at Glorious Vision University, described the deal as potentially beneficial if executed within agreed timelines.

Similarly, Kehinde Ola, a senior lecturer at the institution, noted that the importation of steel could serve as a short-term measure to complete ongoing port projects efficiently.

However, he acknowledged growing concerns about Nigeria’s reliance on foreign steel despite decades of investment in Ajaokuta.

The Future of Ajaokuta Steel

Established in 1979, the Ajaokuta Steel Plant remains largely inactive, despite reports that 40 out of its 42 units are technically completed.

Experts say years of policy inconsistencies, mismanagement, and funding challenges have stalled its operationalisation.

The Bureau News understands that stakeholders are urging the Federal Government to prioritise policies that will revive local steel production, create jobs, and reduce reliance on imports.

While the Lagos port upgrade is expected to improve trade efficiency and strengthen Nigeria’s position as a regional maritime hub, analysts insist that such gains must not come at the expense of domestic industrial capacity.

As debates continue, the future of Nigeria’s steel industry remains uncertain, with Ajaokuta standing at the centre of the country’s quest for industrial self-sufficiency.

Source: https://thebureaunews.com/nigeria-uk-deal-ajaokuta-steel-revival/

Armed Robbers Attack Kpegyi Community in Abuja, Injure Resident, Assault Victims | Nigeria News Today

By Enemona Samuel Endurance

Abuja — The Bureau News reports that residents of Kpegyi community, located after Jikwoyi under the Abuja Municipal Area Council (AMAC), have been thrown into panic following a late-night attack by suspected armed robbers.

Residents Narrate Midnight Attack

The incident reportedly occurred around 1:00 a.m. on Tuesday, when the attackers stormed the area behind Onmas Filling Station, targeting multiple homes.

Eyewitnesses told The Bureau News that the assailants operated for several hours, carting away valuables and allegedly assaulting women in the presence of their families.

A resident who spoke on condition of anonymity said the attackers took advantage of heavy rainfall to carry out the operation without resistance.

“They came around 1 a.m. and stayed for more than three hours. Because of the rain, there was no help. They robbed many houses and assaulted women. We are living in fear,” the resident said.

The Bureau News: Victim Sustains Gunshot Injury

Another resident confirmed that a young woman sustained a gunshot injury during the attack. She was reportedly shot in the shoulder and is currently receiving medical treatment.

In a separate account, a distraught husband recounted how his wife was assaulted at gunpoint, leaving the family deeply traumatized.

Rising Insecurity in Jikwoyi Axis

Residents say Kpegyi and nearby communities around Jikwoyi have experienced repeated security breaches in recent times.

They recalled a similar incident last year in a nearby area behind AP Filling Station, where vigilante members were reportedly killed during a confrontation with armed robbers.

According to locals, the resurgence of such attacks, particularly during the rainy season, has heightened fear and uncertainty across the community.

“This has become too frequent. We are no longer safe in our homes,” another resident lamented.

Calls for Urgent Security Intervention

Efforts to reach the Divisional Police Officer (DPO) in Jikwoyi were unsuccessful as calls to his phone lines were not answered at the time of filing this report.

Residents are now calling on security agencies to intensify patrols and take proactive measures to protect lives and property in the area.

The Bureau News will continue to monitor developments as part of its coverage of Nigeria News Today.

Source: https://thebureaunews.com/armed-robbery-attack-kpegyi-abuja-residents-injured/

Lagos Food Prices Surge in March 2026 as Fuel Costs Drive Inflation — The Business Bureau

By Queen Madaki | The Business Bureau

LAGOS, Nigeria — The Business Bureau reports that food prices across major Lagos markets rose sharply in March 2026, driven primarily by higher fuel costs that increased transportation and logistics expenses nationwide.

The latest market survey tracking 68 food items across Mushin, Daleko, Mile 12, and Oyingbo markets shows a strong reversal from February’s price moderation, with inflationary pressures returning across key commodity categories.

The surge follows a rise in petrol prices from N875 to N960 per litre, alongside an increase in ex-depot pricing by Dangote Refinery, reflecting the impact of elevated global crude oil prices.

Market Data Signals Broad-Based Price Increase

The survey indicates a widespread increase in food prices across Lagos, Nigeria’s largest consumption hub.

- 43 items recorded price increases in March, up from 23 in February

- Only 13 items declined in price, compared to 35 in the previous month

- 12 items remained unchanged, indicating limited price stability

Analysts note that Lagos’ heavy reliance on transported food supplies amplifies the impact of rising logistics costs on consumer prices.

Despite earlier signs of inflation easing, the March data suggests renewed upward pressure, particularly within food categories.

Staple Commodities Record Sharp Increases

Major staple foods recorded significant price increases, with some items rising by over 100% within one month.

Pepper recorded one of the most dramatic increases:

- Medium bag: N32,000 to N80,000 (+141.38%)

- Big bag: N58,000 to N140,000 (+150%)

Tomatoes also saw sharp gains:

- Big basket: N40,000 to N60,000 (+50%)

- Oval basket: N25,000 to N35,000 (+40%)

Beans prices surged significantly:

- Brown beans (50kg): N50,000 to N85,500 (+70%)

- Oloyin beans: N45,000 to N75,000 (+66.67%)

- Larger variants exceeded N180,000

Fish prices also increased sharply:

- Kote (horse mackerel): N5,000 to N8,500 (+70%)

- Titus (mackerel): N7,000 to N9,500 (+35.71%)

Other notable increases include:

- Olaola poundo yam flour: +34%

- Dry onions (big bag): +21.05%

- Poweroil (2.6L): +14.68%

- Abuja yam: +12.5%

Processed food categories such as pasta, noodles, and beverages recorded moderate increases ranging between 0.32% and 10%.

Limited Price Declines in Select Categories

A small number of food items recorded price declines, mainly in grains and processed wheat products.

- Honeywell flour (10kg): N14,000 to N12,000 (-14.29%)

- Semovita (5kg): N7,500 to N6,500 (-13.33%)

- Mama’s Pride rice (50kg): N65,000 to N57,500 (-11.54%)

- Garri (white, 50kg): N22,000 to N20,000 (-9.09%)

Other minor declines were observed in egusi and ogbono, though the scale of reductions remained modest relative to overall market increases.

Transport Costs Identified as Key Inflation Driver

Market participants attributed the surge in food prices to rising transportation costs linked to higher fuel prices.

“The cost of moving goods from the North has gone up significantly. Even loading charges have increased because everything depends on fuel,” a transporter at Mile 12 market said.

“Transporters increased their charges almost immediately, and we had no choice but to adjust prices,” a trader at Daleko market noted.

Consumers also expressed concern over affordability as staple food prices continue to rise.

Economic Implications

The surge highlights the structural sensitivity of Nigeria’s food supply chain to energy costs.

As fuel prices increase, logistics expenses rise across the distribution network, directly impacting retail prices in urban consumption centres like Lagos.

Analysts warn that sustained increases in fuel costs could prolong food inflation, placing additional pressure on household incomes and consumer demand.

Outlook

While some categories showed minor price corrections, the overall trend points to renewed inflationary risks within Nigeria’s food market.

Future price movements will depend largely on fuel price stability, supply chain efficiency, and seasonal agricultural output.

For now, Lagos markets remain under pressure, reflecting the broader economic link between energy costs and food inflation.

Source: The Business Bureau

Trump Highlights Africa’s Economic Potential as Global Investment Race Intensifies — The Business Bureau

By Enemona Samuel Endurance | The Business Bureau

RIYADH, Saudi Arabia — The Business Bureau reports that renewed remarks by United States President Donald Trump on Africa’s economic potential have drawn attention to the continent’s growing strategic importance in global investment and resource competition.

Speaking at an investment forum organised by the FII Institute, Trump described Africa as a region with significant untapped value, particularly if countries strengthen regional cooperation and economic integration.

“Africa has tremendous value on its land and if they can unify and get together, I think it’s got tremendous potential,” Trump said during the session.

Africa Emerges as Strategic Investment Frontier

Analysts say the comments reflect a broader shift in global economic strategy, with Africa increasingly positioned at the centre of supply chains, resource security, and infrastructure investment.

Major global powers are intensifying their engagement across the continent, targeting critical sectors such as mining, energy, logistics, and agriculture.

United States Targets Critical Minerals Supply Chains

The United States is expanding efforts to secure access to critical minerals including lithium, cobalt, and copper, which are essential for energy transition technologies and advanced manufacturing.

Key African markets attracting U.S. interest include the Democratic Republic of Congo, Zambia, Namibia, and Guinea, where resource endowments are critical to global supply diversification strategies.

Policy tools include commercial diplomacy, development financing, and strategic partnerships aimed at reducing reliance on existing supply chains dominated by competing global powers.

China Deepens Economic Footprint

China continues to maintain a strong presence across Africa through large-scale investments in infrastructure, mining, and industrial development.

Chinese companies have secured stakes in critical mineral assets, including rare earths in Tanzania and the Democratic Republic of Congo, as well as gold operations in Ghana and Côte d’Ivoire.

Beyond extractive industries, China’s expansion extends into real estate, manufacturing, and agriculture, reinforcing its long-term economic positioning on the continent.

European Energy Firms Expand Operations

European oil and gas companies are also increasing capital deployment in Africa’s energy sector.

Firms such as TotalEnergies, Eni, Shell, BP, and Equinor are advancing major projects across Mozambique, Libya, Nigeria, and Angola.

These investments are driven by the need to diversify energy sources and strengthen supply resilience amid evolving global energy dynamics.

Gulf States Scale Investments in Logistics and Agriculture

Gulf economies are expanding their footprint across Africa, particularly in logistics infrastructure and food security systems.

Saudi Arabia’s Public Investment Fund has increased investments in agribusiness, while logistics giants such as DP World and AD Ports Group have secured strategic positions in ports across Tanzania, Egypt, and Angola.

Other Gulf-backed firms are investing in agricultural production and industrial infrastructure, positioning Africa as a key partner in long-term food and trade strategies.

In the aviation sector, Qatar Airways has taken a majority stake in Rwanda’s Bugesera International Airport, while Emirates and Etihad Airways continue to strengthen connectivity with major African markets.

Market Sentiment Reflects Strategic Debate

Reactions to Trump’s remarks have been mixed, reflecting broader debate over Africa’s positioning in the global economy.

While some observers view the comments as recognition of the continent’s rising economic relevance, others highlight the importance of translating investor interest into sustainable growth outcomes.

Analysts note that increasing global competition for African resources and markets presents both opportunities and risks, depending on how governments structure partnerships and manage economic policy.

Outlook: From Resource Base to Economic Powerhouse

Africa’s long-term economic trajectory will depend on its ability to leverage rising global interest into industrial development, value addition, and regional integration.

With abundant natural resources, a growing population, and expanding digital economies, the continent is increasingly viewed as one of the last major frontiers for global growth.

However, unlocking this potential will require coordinated policy frameworks, infrastructure investment, and stronger intra-African trade systems to ensure that value creation remains within the continent.

Source: The Business Bureau

Nigerian Exchange All-Share Index Crosses 197,000 for the First Time — The Business Bureau

By Queen Madaki | The Business Bureau

LAGOS, Nigeria — The Business Bureau reports that the Nigerian Exchange (NGX) reached a historic milestone on March 9, 2026, as the All-Share Index crossed the 197,000 mark for the first time.

The benchmark index rose by 228.8 points to close at 197,197.0, extending the stock market’s strong performance in 2026 and reinforcing investor confidence in Nigerian equities.

Market capitalization followed the upward trend, increasing slightly to N126.5 trillion across 86,488 deals, compared with N126.43 trillion recorded in the previous trading session.

Trading Activity Shows Moderate Strength

Trading activity during the session reflected improving investor participation.

Total volume traded climbed to 762.5 million shares, up from 585 million shares recorded in Friday’s session, suggesting cautious but strengthening market engagement.

In terms of value, Aradel led market turnover with transactions worth N5.07 billion, followed by Zenith Bank with N3.6 billion.

Other notable contributors to trading value included NGX Group at N2.4 billion, Okomu Oil at N2.07 billion, and MTN Nigeria at N1.8 billion.

Market Data Signals Strong Investor Confidence

Overall market sentiment remained bullish, with the Nigerian Exchange maintaining a year-to-date return of 26.72 percent.

Analysts say the strong performance reflects steady investor confidence in key sectors of the Nigerian economy despite ongoing macroeconomic uncertainties.

Buying interest lifted several stocks during the session, while profit-taking led to declines in others.

Top Gaining Stocks

Several equities posted strong gains during the trading day:

Conoil — up 10.00% to N185.90
Omatek — up 10.00% to N2.42
Legend Internet — up 10.00% to N7.04
NGX Group — up 9.97% to N166.00
Oando — up 9.96% to N54.65
Top Declining Stocks

Some equities experienced losses due to profit-taking activity:

Aluminum Extrusion — down 10.00% to N13.95
SCOA — down 9.90% to N30.95
RT Briscoe — down 9.87% to N10.87
Sunu Assurance — down 9.81% to N4.32
Union Dicon — down 9.76% to N14.80
Most Actively Traded Stocks

In terms of trading volume, Fortis Global Insurance recorded the highest activity with 127.4 million shares exchanged.

Access Holdings followed with 48.2 million shares, while Zenith Bank traded 39.7 million shares.

Other active stocks included Chams Holding with 30 million shares and Jaiz Bank with 27.2 million shares.

SWOOT Stocks Show Mixed Performance

Among SWOOTs—stocks with market capitalisation above N1 trillion—performance during the session was mixed.

International Breweries led gains in the category, rising by 8.09 percent, while Aradel advanced by 3.05 percent.

However, Nigerian Breweries declined by 2.44 percent, and Wema Bank recorded a slight drop of 0.92 percent.

FUGAZ Banks Record Varied Results

Performance among the FUGAZ banking stocks was also mixed during the trading session.

Zenith Bank recorded a marginal gain of 0.05 percent.

Meanwhile, First HoldCo and Access Holdings declined significantly, falling by 3.85 percent and 3.66 percent respectively.

United Bank for Africa (UBA) shed 1.26 percent, while Guaranty Trust Holding Company (GTCO) slipped by 0.84 percent.

Market Outlook

Despite the latest gains, analysts note that price action in the All-Share Index appears relatively weak when compared with overall trading volume.

From a technical standpoint, the market is currently considered overbought, suggesting that some stocks may experience short-term retracement in upcoming trading sessions.

However, any pullback is expected to remain shallow to moderate depending on the intensity of selling pressure and investor sentiment in the broader market.

Source: The Business Bureau

Senegal Government Acquires 10% Stake in Dangote Cement Senegal — The Business Bureau

By Enemona Samuel Endurance | The Business Bureau

DAKAR, Senegal — The Business Bureau reports that the Senegalese government has acquired a 10 per cent equity stake in Dangote Cement Senegal, marking a strategic move to increase state participation in one of the country’s key industrial assets.

The move, outlined in Dangote Cement’s 2025 annual report, reduces the parent company’s direct stake in the subsidiary from 99.99 per cent to 89.99 per cent, officially positioning the Senegalese government as a minority shareholder.

Industry analysts say the transaction reflects a growing trend across African economies where governments acquire minority stakes in major industrial companies to strengthen oversight while maintaining private-sector operational efficiency.

Revenue Decline Signals Market Pressures

The equity acquisition comes at a challenging period for Dangote Cement Senegal. According to the company’s financial disclosures, revenues declined significantly from NGN192.2 billion (US$138.6 million) in 2024 to NGN151 billion in 2025.

The 21.4 per cent contraction was largely attributed to weaker market demand and operational pressures affecting the Dakar-based cement plant.

Sales volumes also dropped sharply during the period. Total cement sales fell by 19.8 per cent to approximately 1.2 million tonnes for the year, highlighting softer construction activity and changing market conditions within Senegal’s building materials sector.

Strategic Positioning in West Africa

For Dangote Cement, the development strengthens its institutional footprint in West Africa while maintaining operational influence in one of the region’s fast-growing construction markets.

The arrangement aligns with the group’s broader strategy of reinforcing local partnerships as it navigates fluctuating demand across African cement markets.

Since commencing operations in Senegal in 2015, Dangote Cement Senegal has played a major role in supporting local employment and industrial development.

The company has generated significant direct and indirect job opportunities for Senegalese workers across manufacturing, logistics, and distribution segments.

Production Capacity and Regional Supply

Dangote Cement Senegal currently operates with an installed production capacity of 1.5 million tonnes annually.

The facility supplies cement to meet domestic construction demand while exporting surplus production to neighboring West African markets.

The plant remains an important contributor to Senegal’s construction ecosystem, supporting infrastructure projects, housing developments, and regional trade.

Government Expands Role in Strategic Industries

For Senegal, the acquisition represents a broader strategy to increase government participation in strategic economic sectors tied to national development.

Cement production plays a critical role in supporting urbanisation, housing expansion, and large-scale infrastructure projects across the country.

By holding an equity stake in Dangote Cement Senegal, the government gains access to dividend earnings while securing a stronger voice in production decisions and sectoral policy discussions.

Cement Industry Drives Infrastructure Growth

Industry experts note that cement demand in Senegal continues to be supported by public infrastructure programmes and rapid urban development.

Government participation in the sector could therefore help balance commercial objectives with national development priorities.

The deal also highlights the strategic importance of cement manufacturing in Africa’s industrial growth story, as governments increasingly collaborate with private investors to scale domestic production capacity.

With the new equity structure in place, Senegal is expected to maintain a stronger role in shaping the future of one of its most essential industrial sectors while continuing to support long-term infrastructure expansion.

Source: The Business Bureau

NMDPRA Says Fuel Price Fluctuations Reflect Market Dynamics in Nigeria’s Deregulated Market

By Queen Madaki | The Business Bureau

ABUJA, Nigeria — The Business Bureau reports that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says recent fluctuations in petrol prices across Nigeria reflect normal market dynamics under the country’s deregulated petroleum sector.

The clarification comes amid renewed public concern over rising pump prices at filling stations across major cities, including Abuja and Lagos, following recent adjustments by fuel marketers.

According to the authority, price movements are expected in a fully deregulated downstream petroleum market where government price controls no longer determine retail fuel costs.

NMDPRA Explains Fuel Price Variations

NMDPRA spokesperson George Ene-Ita said the recent fluctuations in petrol pump prices are largely influenced by market forces such as international crude oil prices, exchange rate movements, and supply chain costs.

He noted that since Nigeria adopted a deregulated petroleum pricing regime, the downstream sector has been operating under conditions similar to other global energy markets.

“Nigeria has been operating a fully deregulated downstream petroleum regime since the inception of the current administration. Pump price movements are therefore a reflection of prevailing market dynamics,” Ene-Ita said.

The regulator emphasized that under the deregulated framework, petroleum product prices may rise or fall depending on global and domestic economic factors.

Impact of Global Oil Market Developments

Recent volatility in global crude oil prices has added pressure to petroleum markets worldwide.

Oil benchmarks such as Brent crude and West Texas Intermediate have recorded sharp increases amid geopolitical tensions in the Middle East, raising fears of possible disruptions to global energy supply.

Analysts say such developments can quickly influence petrol prices in Nigeria because the country’s fuel supply chain is closely tied to international oil market movements.

NNPCL and Refinery Pricing Adjustments

The Nigerian National Petroleum Company Limited (NNPCL) recently adjusted petrol prices at several of its retail outlets, pushing pump prices in Abuja to about N960 per litre.

The change followed similar adjustments in ex-depot prices by suppliers, including the Dangote Petroleum Refinery, which increased its gantry price by about N100 per litre.

Industry experts say changes at the wholesale level often translate to higher retail pump prices as marketers adjust to maintain operational margins.

Concerns from Fuel Retailers

Fuel marketers and retail outlet operators have acknowledged that price fluctuations are now a structural feature of Nigeria’s deregulated petroleum market.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned that frequent price changes could have ripple effects on transportation costs and overall inflation.

However, the association also noted that deregulation was designed to attract investment into refining, logistics, and fuel distribution across the country.

What It Means for Consumers

For Nigerian consumers, the deregulated system means petrol prices will increasingly reflect global crude oil prices, exchange rate conditions, and domestic supply factors.

Energy economists say this market-based pricing model may lead to periods of volatility but could also encourage greater competition among suppliers in the long term.

They argue that increased refining capacity, particularly from large-scale facilities such as the Dangote refinery, could eventually help stabilize supply and moderate price swings.

Bottom Line

The latest clarification from the NMDPRA underscores how Nigeria’s transition to a deregulated petroleum market has fundamentally changed how fuel prices are determined.

As global oil markets continue to react to geopolitical tensions and supply concerns, petrol prices in Nigeria are likely to remain sensitive to developments beyond the country’s borders.

Source: The Business Bureau

Nigerian Army Troops Rescue Three Abducted Victims in Kogi State

By Enemona Samuel Endurance

Published on: April 3, 2026

The Bureau News Nigeria reports that troops of the Nigerian Army have successfully rescued three individuals who were abducted by unknown gunmen along the Okwu Obanyi axis in Ajaokuta Local Government Area of Kogi State.

Incident Details and Timeline

The attack occurred on March 3, 2026, at about 6:00 a.m. when two men, Abdulwahab Musa and Idowu Ibekunle, both from Opella, Edo State, were transporting farm produce to Anyigba, Kogi State. According to Zagazola Makama, a counter-insurgency expert in the Lake Chad region, their vehicle, a maroon Toyota Previa with registration number MUE 689 AE, was blocked by armed assailants who abducted four of the passengers and took them into a nearby forest.

Rescue Operation and Recovery

Makama further disclosed that the Nigerian Army, in collaboration with joint security forces, deployed to the area and carried out a systematic bush combing operation. These intelligence-led operations resulted in the safe recovery of three of the victims: Fedelis Onza, Ayuba Fedelis, and Mrs. Joy Fidelis, all residents of Anyigba.

One Victim Still Missing

Unfortunately, one victim, Idowu Ibekunle, remains unaccounted for. Authorities are continuing efforts to locate the missing person and apprehend the perpetrators of the crime.

Enhanced Surveillance and Security Operations

Makama emphasized that the rescued victims had provided statements to security personnel, and operations are ongoing to ensure the safe return of the remaining abductee. Surveillance and monitoring in the area have been intensified to prevent further incidents, ensuring that the perpetrators are brought to justice.

Security and Counter-Insecurity Measures in Kogi State

This latest rescue highlights the ongoing efforts of the Nigerian Army and joint security forces in tackling the increasing security challenges in Kogi State. The operation demonstrates the strength and coordination of the military in combating criminal elements in the region.

Source: The Bureau Newspaper