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Preparing For Nigeria’s Biggest Election

By
Adepeju Aina
-
Lagos, Anambra, Imo Voters Were Intimidated - CDD

This is the moment we have all been waiting for. Nigeria‘s most anticipated election, the season Nigerians will perform their civic duties to vote in their preferred/qualified candidate.

With Nigeria’s most important election only three days away, it is critical that all stakeholders take the necessary steps to ensure a successful and peaceful election.

Here are some preparation tips for the upcoming election:

Polling Unit

Know your polling unit: It is critical to know your polling unit because this is where you will vote. Check your voter’s card or go to the Independent National Electoral Commission (INEC) website to find your polling unit.

INEC’s tweet about polling unit

Registration Status

Check your voter registration status. Make sure you’re registered to vote and your name is on the voter list. You can check the status of your voter registration by visiting the INEC website.

Candidates

It is critical to learn about the candidates running for office as well as their platforms. Investigate their track record, promises, and future plans if elected. This will allow you to make an informed decision when voting.

Before going to vote, learn your candidate’s political party and its logo.

Abenol a platform for nation building that connects tech-savvy and educated Nigerians to the grassroots; urged Nigerians to not only vote for a presidential candidate but be involved in all of the elections.

“There are many people seeking to represent you at various levels of government not just the presidency. Each position is of equal importance and the same attention to detail should be given,” Abenol said.

“It is how you exert the control you have over the government, push back bad leadership etc. if the state of Nigeria concerns you so much, you will not leave your card lying around on the day of the election, you will infact come out and vote.”

Electoral Rules

Understand the election rules, including the voting process, time, and location.

Knowing the rules will ensure that you understand what is expected of you and that you do not break any rules inadvertently.

Plan your waka well

Plan ahead of time for transportation to and from the polling place. Make sure you have enough time to get to the polling place and that you have enough resources, such as food, water, and money.

Inform your loved ones about your plans.

Security

Be aware of any security threats in your area and take the necessary precautions. Avoid high-risk areas and report any suspicious activity to the appropriate authorities.

Protect yourself, do not go towards any riot or sponsor it. If you have a security dog feel free to take it along but but it on a leash and do not let it attack anyone.

Do not wear any political outfit!

The federal government may have deployed security personnel to protect cities, but will they be present at all polling places? Protect yourself by using “The N-Alert App” to report any suspicious or violent behavior.

‘The N-Alert App’ is a mobile app that allows you to report any type of crime and receive a quick response because it is routed directly to the command center.

The app is very simple to use, so please encourage anyone you know who is voting to download it and it is available for download on both iOS and Android.

Secure your votes

Don’t just vote and go home. Go early to your polling unit, make sure the electoral materials have not been tampered with and after voting, make sure that your votes are not stolen. Make sure that the electoral officer uploads your vote.

It is easy for your polling unit to be attacked, for your votes to stolen or rendered void if there is no one to stop them. Stay back and make sure that the right thing is done.

“Go early and stay until the votes in your unit have been submitted. Don’t just vote and go home, stay to protect your vote. This will help keep the officials accountable and make election violence less likely,” Laju Iren tweeted.

To summarize, all stakeholders must work together to prepare for Nigeria’s election in three days. We can ensure a successful, peaceful, and transparent election that reflects the will of the people if we follow these guidelines. Let us all work together to make this election a success.

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Eating On A Budget: Save Money By Growing Your Food

By
Adepeju Aina
-
First Aquagrico Farms To Build Nigeria's Largest Farmer's Market

Eating on a budget seems like a hard task in Nigeria especially with the rate of inflation and trying to avoid eating rice everyday.

Eating out can be expensive either it is at a big or small restaurant. Buying groceries frequently takes a chunk of your money.

Sometimes we try to count our money to calculate how much we spent; especially when our wallets are slim and our bank accounts are not smiling.

How can we reduce our spending? What can we do to eat healthy while maintaining a budget?

Eating healthy on a budget is not impossible. One of the ways to achieve it is to have a garden and grow your food.

Growing your food might seem extreme or overly expensive. No need to fear, you can start small.

As small as spring onions or pepper then work your way up to other agricultural produce.

Eating on a budget; how to

Growing your own fruits and vegetables is a great way to save money and have fresh produce at your fingertips if you have the space.

Having a steady supply of fresh produce at home can help you save money at the grocery store.

What should you plant?

You can start with the things you usually use; like ginger, spring onions, cabbage or even tomatoes. Take a look at the tools you have and watch videos that will help you decide what to start with, how to plant and when to plant.

How to plant

Watch videos and read articles on how to plant and how to maintain your garden.

Where to plant?

Start on a small scale. Many fruits, vegetables, and herbs can be grown in pots on patios or balconies especially if you don’t have a yard.

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Snapchat, Twitter May Be Sanctioned Over Display Of Porn And Nudity

By
Damilare Famuyiwa
-
Snapchat, Twitter May Be Sanctioned Over Display Of Porn And Nudity

Snapchat, Twitter, and other social media sites may be sanctioned by the Federal Government over the display of porn and nudity on the Nigerian cyberspace. This is as the National Information Technology Development Agency (NITDA) released the Code of Practice for Interactive Computer Service Platforms/Internet Intermediaries (online platforms).

Part of the order included in the code is that -Snapchat, Twitter, TikTok, and other social media must ensure the removal, disabling, or blocking of access to any non-consensual content, which displays partial or full nudity, sexual acts, deep fake, or revenge porn within 24 hours.

The code mandated the social media platforms to “act expeditiously to remove, disable, or block access to non-consensual content that exposes a person’s private areas, full or partial nudity, sexual act, or revenge porn, where such content is targeted to harass, disrepute, or intimidate an individual. A Platform must acknowledge the receipt of the complaint and take down the content within 24 hours.”

Other things require of Snapchat, Twitter, and other social media platforms

  • The Code of Practice also directs these platforms to take down any unlawful content upon receiving a notice from a user, or an authorised government agency.
  • The platforms were also asked to exercise due diligence to ensure that no unlawful content is uploaded to their platform.
  • Aside from asking each online platform to have a country representative, who will interface with the Nigerian authorities, it also requires any platform with over 100,000 Nigerian users to have an office in Nigeria.
  • Other conditions include registering with the Corporate Affairs Commission as a legal entity, complying with tax obligations, abiding by regulatory and legal demands, and providing information about users on-demand, among others.

BizWatch Nigeria, however, understands that the Code of Practice recently published by the NITDA was designed to safeguard the fundamental human rights of Nigerians and non-Nigerians living in Nigeria, and to regulate interactions on the online platform.

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World Bank: Poor Nigerians To Hit 95.1m By End Of 2022

By
Damilare Famuyiwa
-
World Bank: Poor Nigerians To Hit 95.1m By End Of 2022

World Bank, in its ‘A Better Future for All Nigerians: 2022 Nigeria Poverty Assessment’ report, disclosed that the number of Nigerians that would plunge into poverty by the end of this year would hit 95.1 million.

While warning that many non-poor Nigerians are only one small shock away from falling into poverty, the Washington-based lender lamented that since President Muhammadu Buhari was first elected into the office of president of Nigeria in 2015, there has been no improvement in the poverty crisis in the country.

According to World Bank, poverty reduction stagnated since 2015, with more Nigerians falling below the poverty line over the years.

Quoting its economists -Jonathan Lain and Jakob Engel, World Bank said rising inflation, persistent population growth, the COVID-19 pandemic, and the war in Ukraine are threatening Nigeria’s poverty reduction aspiration.

“Nigeria’s aspiration to lift all of its people out of poverty by 2030 presents a serious challenge. Even before COVID-19, four in 10 Nigerians lived below the national poverty line – some 80 million people.

“The global pandemic, rising inflation, and ongoing uncertainty related to the war in Ukraine – combined with relentless population growth – have made Nigeria’s poverty-reduction goals more challenging than ever,” the economists were quoted.

Can Buhari truly lift Nigerians out of poverty?

With the factors identified by the World Bank economists, Buhari’s aspiration to lift Nigerians out of poverty has no doubt been met with a major blow.

It would be recalled that in June last year, the President inaugurated the National Steering Committee of the National Poverty Reduction with Growth Strategy chaired by Vice President Yemi Osinbajo.

This, he said, re-echoes his commitment to lifting 100 million Nigerians out of poverty in 10 years, with a well-researched framework for implementation and funding.

The president was quoted in a statement by the Special Adviser to the President on Media and Publicity, Femi Adesina, as saying, “If India can lift 271 million people out of poverty between 2006 and 2016, Nigeria can surely lift 100 million out of poverty in 10 years.

“Fortunately, we have already started but we need to unlock the challenges of slow implementation, inappropriate targeting, and absence of adequate resources.”

World Bank To Review Poverty Index Over Inflation 

Dollar To Naira: This Is Why Banks Are Restricting Access To Forex

By
Damilare Famuyiwa
-
Dollar To Naira Exchange Rate Today (Thur. July. 13, 2023)

For travellers, and for others seeking dollar to naira in exchange for one thing or the other, they are likely to experience stricter access to it considering the country’s external reserves that hit a seven-month low after falling to $38.57 billion as of May 25, 2022.

According to figures obtained from the Central Bank of Nigeria (CBN) on movement in external reserves, the reserves which had been fluctuating for weeks now, experienced its lowest of $39.01 billion and $38.39 billion on October 10 and 8, 2021 respectively.

However, as a result of the dollar to naira scarcity, banks are extending the waiting period to access forex for foreign trips, thereby denying travellers with urgent trips access to apply for Personal Travel Allowance or the Business Travel Allowance requests.

The banks have also been reducing the amount a customer can spend on the cards in dollar terms.

Explaining Ecobank Nigeria’s current stand on retail forex transactions for international school fees, accommodation and upkeep payments as well as PTA/BTA requests, the financial institution’s Head, Consumer Banking, Korede Demola-Adeniyi said, “Due to current market trends, we require a 30-day window to complete requests for school fees, accommodation, and upkeep.

According to him, part of the process involved a review of all documents to ensure compliance with regulatory requirements.

“In order to ensure smooth service and allow disbursement of PTA/BTA within the timeline, we request that applications are submitted with the required documentation,’ he added.

Like Ecobank, Access Bank stated: “All requests are reviewed to ensure that they meet regulatory requirements. In addition, due to limited forex availability provided by the Central Bank of Nigeria, we require a 30-day period to fulfill requests for school fees, upkeep, and rent payment.

“However, for PTA/BTA, we request that you submit your application 14 days before your proposed travel date to allow disbursement within the timeline.”

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Africa Finance Corporation Launches US$2bn Facility To Support Economic Recovery & Resilience In Africa

By
Boluwatife Oshadiya
-

In response to economic challenges created by the global pandemic and the Russia-Ukraine conflict, Africa Finance Corporation (AFC) is launching a US$2billion facility to support recovery and resilience in Africa.

AFC has committed to funding up to 50% of the new African Economic Resilience Facility and mobilising the remainder through the Corporation’s network of international partners and investors. The facility will be announced at the AFC Live Infrastructure Solutions Summit today.

The facility will be disbursed through loans from AFC to selected commercial banks, regional development banks and central banks in various African countries, providing them with much needed hard currency liquidity to finance trade and other economic activities in their jurisdictions.

These institutions will be able to leverage AFC’s proven access to global funding to receive financing at competitive rates.

Speaking on the rationale behind the launch, Head of Treasury and Financial Institutions, Banji Fehintola, said: “The COVID-19 pandemic set back Africa’s economic growth trajectory and widened the trade financing gap, while the Russia-Ukraine conflict has added a further set of challenges negatively impacting growth prospects across the continent.

“We are determined to play a leading role in helping the continent’s recovery and resilience, not only though the work we do in bridging Africa’s infrastructure gap, but also through targeted interventions such as this US$2billion economic resilience facility.”

Applications for the African Economic Resilience Facility will open this month through AFC’s website.

Through this funding intervention, AFC will accelerate its developmental impact in Africa, helping to drive the continent to a new phase of growth that is focused on maximum resource value capture and domestic job creation.

Over the last 15 years, AFC has built experience mobilising global capital for critical infrastructure projects in Africa.

The Corporation’s recent bond issues include a US$750million 7-year Eurobond issued in 2021 at AFC’s lowest yield to date. The Corporation also established an independent asset management arm, AFC Capital Partners, with plans to raise US$2 billion to fund climate adaptation infrastructure projects in Africa.

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#IWD2022: Is Nigeria Ready For A Female President?

By
Adepeju Aina
-
Break The Bias: Is Nigeria Ready For A Female President?

To commemorate International Women’s Day 2022, themed “Break The Bias” BizWatch Nigeria presents Twitter Spaces conversation on Wednesday, March 9th 2022 tagged “Break The Bias: Is Nigeria Ready For A Female President?”

International Women’s Day is marked every year to celebrate women all around the world, eradicate gender bias and fight for gender equality. Clearly, we have a long way to go to achieve gender equality.

Follow this link https://twitter.com/i/spaces/1mrGmaNrdvgGy to join the conversation on Twitter by 7 pm (WAT).

BizWatch Nigeria to mark this year’s International Women’s Day will have a Twitter Spaces Conversation by 7 pm (WAT) to provide solutions to gender bias and to discuss the following;

  • Gender bias
  • Issues in society
  • Empowering young girls and women
  • Gender equality and equity
  • Women in business and leadership
  • The role of the female gender in restoring Nigeria
  • Is Nigeria ready for a female president?
  • The rejected gender bills
  • Under representation of women in politics and government

The aim of this event is to celebrate women, eliminate gender bias and educate people on gender equality.

The speakers for the event are: Hansatu Adegbite, the Executive Director of WiMBIZ, Seyo Body-Lawson; a renowned entrepreneur and photographer, Gbemi Aleke; a Deputy Director of Account Management and Strategy at TBWA Lagos and Betty Abah; a seasoned journalist, women and children’s right activist and the Director of CEE-HOPE. The Twitter Spaces conversation will be hosted by Adepeju Aina, a content creator at BizWatch Nigeria.

Join our conversation on Twitter as we provide solutions to gender equality and as we break the bias!

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6 Multinational Oil Companies To Pay ₦249.3b In January – NNPC

By
Adepeju Aina
-
EU Seeks Stronger Partnership With NNPC

The Nigerian National Petroleum Company (NNPC) said that a total of ₦249.3 billion for October 2021 domestic crude oil sales by six multinational oil companies operating in the upstream sector will be paid in January 2022.

The NNPC made this known in its latest report on Nigeria’s crude oil export and domestic crude oil sales in the month of October 2021.

This came as the oil firm revealed that it would also deduct ₦270.83 billion from what would be shared by the three tiers of government during the Federal Accounts Allocation Committee meeting in January next year.

It said the ₦270.83 billion was its November 2021 value shortfall. The NNPC posts value shortfalls as a result of what it spends on the monthly subsidy of Premium Motor Spirit, popularly called petrol.

On oil sales, the oil company explained in the report that while the October 2021 crude oil exports of 50,000 barrels under the Production Sharing Contract, valued at $4.18 million was payable in November 2021, the October 2021 domestic crude oil payment expected in January 2022 from the six firms is ₦249.3 billion.

The company further noted that the October 2021 domestic crude oil payable in January 2022 by the NNPC was in line with the 90 days payment terms, adding that the six firms were its Joint Venture partners.

Oil firms

It outlined the firms from where the funds were being expected to include Chevron Nigeria Limited (CNL), Mobil Producing Nigeria (MPN), Shell Petroleum Development Company (SPDC), MidWestern, Pillar and First Exploration and Production.

It said CNL would be paying for 2.268 million barrels of domestic crude valued at ₦73.85 billion, while MPN would remit ₦123.22 billion for 3.8 million barrels of domestic crude oil.

The SPDC and MidWestern would be paying for 828,556 and 100,000 barrels of domestic crude oil valued at ₦26.966 billion and ₦3.25 billion, respectively.

For Pillar and First E&P, the firms would pay for 20,000 and 649,677 barrels of domestic crude oil valued at N650.91m and N21.36bn, respectively.

The report put the total volume of domestic crude oil payable by the firms in January 2022 at 7.666 million barrels, while the value of the commodity was put at ₦249.3 billion.

“This value shortfall consists of ₦220,110,853,427.56 for November and ₦50,720,290,429.00 deferred for recovery in December 2021 FAAC Report.”

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Nigeria, Developing Africa Group Sign MoU On Creation Of Intellectual Property Commercialisation Project

By
Victor Okeh
-
Nigeria, Developing Africa Group Sign MoU On Creation Of Intellectual Property Commercialisation Project

The Federal Government has signed a memorandum of understanding (MoU) with Developing Africa Group from UK, to establish the first in Africa first intellectual property rights (IPR) commercialization project in Nigeria.

The Head of Press and Public Relations of the Ministry of industry, Trade and Investment, Ibrahim Haruna disclosed the information.

The Minister of Industry, Trade and Investment,, Adeniyi Adebayo, was quoted as saying that the MoU would enable the group to use IPR as a means of resolving some of the issues and challenges facing Nigeria as well as provide jobs and trade services.

According to the minister, the pilot project was structured for a period of three years.

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“This is to address some of the issues surrounding unemployment and allow rural communities in Nigeria to start attracting commercial interests,” he said.

“Since trademarks are crucial to the promotion of trade and economic development, and Nigeria happens to be one of the strong regional hubs of trade in Africa being the continent’s biggest economy.

“It is no surprise that it has attracted the world’s IP governing body in Abuja, as Nigeria hosted one of the only two World Intellectual Property Office’s (WIPO) external offices in Africa.

“Africa in general and Nigeria in particular, faces an enormous challenge of industrialisation and unemployment generation given the significant population growth.

“The African Development Bank estimates that youth unemployment is twice as high as that of adults and that young people account for approximately 60 per cent of the continent’s jobless population.

“The problem is only set to become more acute given estimates that some 12 million young people on the continent enter the job market each year.”

The minister advised the group to collaborate with the WIPO Office in Nigeria to accomplish the goals.

The chairperson of the group, Jamila Ahmadu-Suka, assured that the use of the IPR would introduce a several technology-based projects in the country.

Pipeline Explosion Won’t Disrupt Flow Of Petroleum Products- NNPC

By
Victor Okeh
-
NNPC Says Fuel Scarcity Will End Next Week

The Nigerian National Petroleum Company (NNPC) has stated that the pipeline fire at Iyana-Odo/Baruwa axis of Lagos will not unsettle the supply of petroleum products across the country.

NNPC’s Group Managing Director, Mele Kyari, stated this on Friday during a visit to the scene of the incident.

The collapse of an electricity transmission tower on the pipeline on Friday resulted in the fire.

The NNPC GMD, who was represented by Isiyaku Abdullahi, managing director, Pipelines and Products Marketing Company (PPMC) Ltd, stated that the fire incident affected a portion of system 2B pipeline within the area, noting that the visit was to ascertain the extent of the incident.

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“We want to assure Nigerians that this incident will not affect the supply and distribution of petroleum products across the country,” he said.

Kyari staed further that official of the national oil company were working with the Lagos government and other relevant authorities to permanently put out the fire.

Confirming the incident earlier on Friday, Ibrahim Farinloye, acting coordinator, south-west zonal office of the National Emergency Management Agency (NEMA), said sparks from the collapsed tower led to the fire outbreak.

“The electricity cable collapse led to sparks and the sparks got to spilled petrol around the area which led to the pipeline fire and a subsequent explosion,” he said.

“The pipeline corridor has been known to have spillage often due to activities of vandals.”

The incident caused power outage in parts of Lagos State.

Reps Approve ₦17.126trn As Budget For 2022

By
Adepeju Aina
-
Reps Ignore Bill Probiting Health Workers From Going On Strike

The House of Representatives (reps) on Tuesday passed a 2022 budget of ₦17.126 trillion which is higher than the ₦16.391 trillion sum presented by President Muhammadu Buhari.

The Senate is also expected to pass the appropriation bill on Tuesday.

While the major capital, recurrent, debt service, statutory transfers remain untouched, the House made provision for an increase by ₦400 billion for agencies that came forward with financial reports which were not captured in the proposed budget, such as INEC, Ministries of Humanitarian Affairs, the National Assembly, and more.

In passing the bill, the House increased the benchmark price for crude from $57 to $62 per barrel, from which a proposed increase in revenue is expected.

The lawmakers also made provision for 10 percent of monies recovered by EFCC and the National Financial Intelligence Unit to be utilised by the agencies for their operations, to strengthen their fight against corruption.

The budget deficit was increased by N98 billion to accommodate some other requests of national importance which have not been captured in the budget estimates and which could not be covered by the revenue increase.

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NNPC Assures On Availability Of Petroleum Products During Yuletide

By
BWN
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Why We Further Increase Petrol Prices -Marketers

The Nigerian National Petroleum Company Ltd. (NNPC) says it will continue to work tirelessly to ensure sufficient supply of petrol to every part of the country during and beyond the forthcoming festive period.

Group General Manager, Group Public Affairs Division, NNPC, Garba Muhammad, made this known in a statement in Abuja.

Muhammad expressed appreciation to Nigerians for always heeding its advisories not to engage in panic buying of petrol.

“The NNPC is once again giving Nigerians strong assurance that we have product sufficiency that will last far beyond the festive period.

“Indeed, our stock has risen from a reserve of 1.7 billion litres to over two billion litres within the last one month,” he said.

Muhammad, therefore, urged Nigerians not to engage in panic buying, but to fully enjoy the spirit of the festive season.

While appreciating Nigerians for their understanding and support, he promised that NNPC will not relent, in always ensuring sufficient supply of petrol.

“We wish you all happy celebrations,” he said.

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Nigeria’s Headline Inflation Decreased In Nov. To 15.40% – NBS

By
David Oputah
-
Crude Oil, Natural Gas Tops Nigeria's Exported Commodities In Q4, 2020 - NBS

Nigeria’s Headline inflation decreased by 0.59 percent to 15.40 percent in November, the National Bureau of Statistics (NBS) has revealed.

Statistician-General of the Federation, Simon Harry, who made the announcement on Wednesday in Abuja during a media conference, also stated that the rebasing of the nation’s economy would take place in 2022 after completing the National Agricultural Sample Census (NASC).

According to him, there has been a consistent decrease in the inflation rate in the last eight months and the figure for November is a decrease from the 15.99 percent recorded in October.

“With this, it means that the declining trend for about eight months portends a positive signal given the favourable economic conditions, the rate of inflation in Nigeria would come down to a bearable level.”

Harry said that on a month-on-month basis, the headline index increased by 1.08 percent in November, which was 0.10 percent higher than the 0.98 percent recorded in October.

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The urban inflation rate increased by 15.92 percent (year-on-year) in November from 15.47 percent recorded in November 2020, while the rural inflation rate increased by 14.89 percent in November from 14.33 percent in November 2020.

On a month-on-month basis, however, the urban index rose by 1.12 percent in November, up by 0.10 percent from the 1.02 percent recorded in October, while the rural index also rose by 1.04 percent in November, up by 0.09 percent from the 0.95 percent rate recorded in October.

He also said that the composite food index rose by 17.21 percent in November compared to 18.30 percent in November 2020.

According to him, the rise in the food index was caused by increases in prices of bread and cereals, fish, food product such as potatoes, yam, and other tubers, oil and fats, milk, cheese and eggs, and coffee, tea, and cocoa.

However, on a month-on-month basis, the food sub-index increased by 1.07 percent in November, up by 0.16 percent points from 0.91 percent recorded in October.

Also, the “All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 13.85 percent in November, up by 0.61 percent when compared with 11.05 percent recorded in November 2020.

He added that on a month-on-month basis, the core sub-index increased by 1.26 percent in November.

“This was down by 0.46 percent when compared with 0.80 percent recorded in October.

“The highest increases were recorded in prices of gas, liquid fuel, other services such as garments, vehicle spare parts, passenger transport by road, non-durable household goods, jewelry, clocks, and watches.

“Others are passenger transport by air, pharmaceutical products, appliances, articles, and products for personal care, cleaning, repair and hire of clothing and fuels and lubricants for personal transport equipment.”

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NCC Conducts Mock Session For 5G

By
Adepeju Aina
-
"MTN, Mafab To Roll Out 5G Services From August 24" - NCC

The Nigerian Communications Commission (NCC) says it has successfully carried out a mock session for the 3.5 gigahertz (GHz) spectrum auction for the deployment of the Fifth Generation (5G) network in the country.

Dr. Ikechukwu Adinde, NCC’s spokesman explained that the simulated auction held on Friday in Abuja was preparatory to the main auction scheduled to take place on Monday.

He said the conduct of the simulation exercise was in line with the requirements stipulated in the Information Memorandum (IM) for the 3.5 GHz spectrum auction.

The IM is a document that defines the process for the licensing of the 3.5 GHz spectrum band earlier published on the commission’s website at the inception of the auction process.

“Using the Ascending Clock Auction System for the mock session, the three qualified bidders for the 3.5 GHz spectrum, namely MTN Nigeria, Mafab Communications Ltd, and Airtel Networks Ltd, participated in the software-based simulated auction exercise,” the statement said.

“Following the successful mock auction, the stage is set for the commission to license two slots in the 3.5 GHz spectrum band expected to be picked by successful bidders at the end of the Main Auction on Monday, December 13, 2021.

“The auction on Monday will mark a turning point in Nigeria’s determination to harness the benefits of 5G for the nation’s socio-economic growth as the concrete roll-out of 5G commences in 2022.”

Chairman of NCC Board of Commissioners, Professor Adeolu Akande; the Executive Vice Chairman and Chief Executive Officer of the commission, Professor Umar Danbatta; Executive Commissioner (Technical Services), Ubale Maska, and the Executive Commissioner (Stakeholder Management), Adeleke Adewolu, were among those who witnessed the exercise.

Others include representatives from the bidding companies, senior management staff from relevant departments of the commission, technical consultants, software consultants, legal consultants, and other external observers.

In a brief remark at the mock auction, Danbatta said the commission had taken all necessary steps to ensure due diligence on the credibility of the consultants and to safeguard the integrity of the software solution being used to carry out the implementation of the national assignment.

“This is consistent with the open, credible transparent, and fair manner by which the commission is known to have conducted previous auction processes, which have been locally and globally applauded,” Danbatta was quoted as saying in the statement.

In order to ensure a fail-proof process, Adinde said the NCC also carried out a simulation of the manual process of the auction, aside from the electronic mock.

He explained that this was to make bidders familiar with the manual auction in case of any circumstances on the main action day that may warrant a need to switch to the manual auction.

“It is pertinent to note that the two forms- electronic and manual- are clearly stated in the IM and they follow the same process,” the statement added.

“Representatives of the bidding companies, the commission, the consultants, and other observers at the mock auction expressed satisfaction with the conduct of the simulation exercise, which also provided an opportunity for the commission to perfect the auction process ahead of the main auction.

“The commission had commenced the process for the auction of the 5G spectrum in the last quarter of the 2021 and had, since then, carried out a number of activities ahead of the main auction.”

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Fuel May Sell Above N340/litre – Marketers

By
Victor Okeh
-
Marketers Express Concerns Petrol May Sell Above N340/litre

The retail price of Premium Motor Spirit, popularly known as petrol, may be sold above the projected N340/litre in February 2022 once the Federal Government stops its subsidy on the commodity, oil marketers said on Tuesday.

Findings show that both independent and major oil marketers were perfecting plans to begin PMS importation soon as the government ends the subsidy regime.

They have raised concern over the unstable condition in foreign exchange rates and how this would affect petrol price in the coming year.

The Nigerian National Petroleum Company Limited has been the sole importer of petrol into Nigeria for about four years. The inability of marketers to effectively access the United States dollar for the purpose of importing refined crude oil forced them to stop.

The Group Managing Director of NNPC, Mele Kyari, last week, announced at a World Bank event in Abuja that beginning from February 2022, the price of petrol would range between N320 and N340 per litre by which time the Federal Government have removed the subsidy.

He stated that Nigeria would cease to subsidize the commodity in the first quarter of next year, adding that subsidy would have been removed this year but was suspended owing to certain conditions.

According to PUNCH, some marketers on Tuesday stated that the cost of petrol would be above the amount projected, which is between N320 – N340/litres if there was no improvement in the foreign exchange rate.

According to Dealers under the aegis of Independent Petroleum Marketers Association of Nigeria and Petroleum Products Retail Outlets owners Association of Nigeria stated their readiness to import petrol, however, also noted the cost of the commodity would be high in February.

IPMAN and PETROAN members own bulk of the filling stations across the country and currently make purchases from depots before selling to final consumers at their various retail outlets.

“Yes, if there is no subsidy, some marketers can import, but the only thing is that it will be costly. The price will be higher than the projected cost because of the exchange rate,” the National Vice President, IPMAN, Abubakar Maigandi, stated.

Oil Price Falls To $70 Per Barrel Ahead Of OPEC+ Meeting

He added, “The challenge of accessing forex will definitely affect imports because over 90 per cent of petrol that will be consumed across the country will depend on importation. Also this is because the refineries are not functioning.”

The National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, also stated that the foreign exchange rate would determine the cost of petrol from next year after subsidy removal.

He said, “If the Federal Government says there is no going back on subsidy removal this time round, which is a challenge that has dragged on for about 30 years, then it means that they are going to liberalise the market.

“By liberalising the market it will now help independent and major marketers to be able to freely import petroleum products from any source so that products will be available in Nigeria.”

He added, “However, it is pertinent to note the forces of demand and supply will determine the price of the commodity in Nigeria. So literally, whatever the dollar rate is in the international and local markets will pose the actual challenge to marketers

“The issue of black market and official exchange rates is a serious challenge that we foresee. But we believe that the Federal Government is doing something by meeting with the bureau d’change operators on this, so that whatever is obtainable at the banks is what you get in the open market.”

On whether the forex issue could lead to a higher price than the projected N340/litre, Chinedu replied, “Aside from the adverse effects of the removal of subsidy on the wellbeing of Nigerians, we will, of course, see a price that is higher than what they project.

“The price will be higher. It will be higher because the dollar to a large extent determines the price of petroleum products. If the dollar goes up, the price of petrol will increase, and vice versa.”

The President PETROAN, Billy Gillis-Harry, confirmed the position of IPMAN, as he, however, explained that members of his association were ready to import the commodity.

He said, “At PETROAN we already have a vehicle that is in place to start importation petroleum products, gas and other products. We encourage the government to completely remove subsidy.

On the possibility of higher pump price than the projected N340/litre, Gillis-Harry said, “That is why we said that every single thing about petroleum products should be premised on the forces of the market.

“The forces of demand and supply should determine the price.”

The spokesperson of NNPC, Garba-Deen Muhammad, told our correspondent that the issue of petrol pricing was not the function of the oil firm.

“Price issues are policy matters. NNPC does not fix price, it has no mandate. It operates in the sector as a business concern governed by CAMA Laws,” he stated.

Despite Interventions, Six Million Electricity Consumers On Estimated Billing

By
Ife Ogunfuwa
-
Ibadan DisCo Announces Relaunch Of MAPS

Despite interventions and funding channeled to the distribution of prepaid meters across the country, about six million electricity consumers are still being given estimated billing.

A report by the Nigerian Electricity Regulatory Commission (NERC) in January this year had put the number of meters contracted through the Meter Asset Providers scheme (MAPS) and National Mass Metering Programme (NMMP) at 7,588,972, indicating that over 7.5 million customers will be needing prepaid meters had the time.

However, The PUNCH gathered from the Federal Ministry of Power on Tuesday that the deployment of meters through the NMMP had risen to 750,000.

A combination of meter deployment by both schemes showed that about 1.26 million meters had been deployed out of the over 7.5 million unmetered customers captured by the NERC.

Operators in the sector explained that the deployment of meters this year was basically through the NMMP, as the MAP scheme was not fast in meter provision.

READ ALSO: Stock Exchange: Market Capitalisation Drops By 0.27%

The National Mass Metering Programme, funded by the Central Bank of Nigeria, was instituted in September 2020 to increase the rate of metering through the provision of free meters.

The Meter Asset Providers scheme, on the other hand, took effect on April 3, 2018, introducing meter providers as a new set of service providers in the Nigeria Electricity Supply Industry.

This came as power distributors told our correspondent that meters provided under Phase Zero of the NMMP had so far been deployed to customers.

They stated that many Discos currently lacked meters as only a few were on ground for distribution to the over six million unmetered power users nationwide.

“Under Phase Zero, they (government) had a particular number that they gave to each Disco and the target was to provide about one million meters,” an official with the Association of Nigerian Electricity Distributors, who pleaded not to be named as he was not authorised to speak on the matter, said.

The official added, “Ikeja Disco received over 100,000 meters; Ibadan Disco also got over 100,000 meters; while some others got about 90,000 meters, as the allocations were based on the Disco.”

Explaining how the free meters under Phase Zero of the NMMP were acquired, the ANED official stated that the government worked with meter manufacturers to know their respective capacities.

Katsina among Nigeria’s most business-friendly states, Gov. Radda tells EU Diplomats

By
Grace Johnson
-

Key Points

. Gov. Dikko Radda says Katsina is one of Nigeria’s most business-friendly states

. EU diplomats visited during Eid el-Fitr celebrations

. Government promises inclusive leadership and economic growth

. Diplomats experienced Katsina’s culture and historic sites

. Officials praise efforts to preserve heritage and attract investors

Main Story

Governor Dikko Radda has reassured international partners that Katsina State is one of the most business-friendly states in Nigeria, highlighting his administration’s commitment to economic growth and development.

The governor made this statement on Sunday while hosting European Union ambassadors and diplomats in Katsina. The visit formed part of activities marking the 1447AH/2026 Eid-el-Fitr celebration in the state.

Speaking during the engagement, Radda emphasized that his government is focused on building an inclusive system that supports both local and foreign investors.

“Our administration is inclusive and committed to providing an enabling environment for sustainable development and economic growth,” he said. He further noted that Katsina offers strong opportunities in investment, partnerships, and technical collaboration, making it an attractive destination for international stakeholders.

Radda explained that his administration is taking a gradual, community-driven approach to governance. According to him, this method helps ensure that people widely accept development projects and remain sustainable over time.

The Issues

Attracting foreign investment remains a key priority for many Nigerian states as they seek to boost economic growth, create jobs, and improve infrastructure. However, challenges such as limited infrastructure, policy consistency, and investor confidence continue to affect investment inflow. To address this, states like Katsina are actively promoting their strengths and engaging directly with global partners.

What’s Being Said

During their visit, the EU diplomats were given a rich cultural experience. They attended the colourful durbar festivals, including Hawan Sarki and Hawan Magajiya, held in Katsina and Daura Emirates.

The events featured royal horsemen in grand procession, showcasing tradition and paying homage to the Emirs. The diplomats also toured notable historical sites such as the ancient Kusugu Well in Daura, believed to be over 2,000 years old, and the Dumurkul Model Smart School.

Egyptian Ambassador Mohamed Fouad commended the state government for preserving its cultural heritage. He described the cultural night held earlier as a remarkable display of Katsina’s traditions and history.

What’s Next

Katsina State is expected to build on this engagement by strengthening ties with international partners and attracting more investments into key sectors.

The government may also continue promoting its cultural heritage as a way to boost tourism and global interest in the state.

Bottom Line

Katsina is positioning itself as both a culturally rich state and a growing investment destination. With continued engagement and development efforts, it aims to attract global partners and drive long-term economic growth.

JAMB activates printing portal for 2026 mock exam slips

By
Grace Johnson
-

The Joint Admissions and Matriculation Board (JAMB) has officially activated the portal for the printing of the 2026 UTME Mock examination slips. This announcement comes as a relief to candidates who indicated interest during registration to sit for the mandatory mock test.

According to the board, the mock examination is scheduled to hold on March 28th, 2026. The mock slip is a crucial document as it contains vital details such as the candidate’s assigned venue, date, and time for the exam.

Candidates who qualified for the mock exam can now access and print their slips directly from the JAMB portal. Below are the two available options and  step-by-step guide to check and print your slip.

Important Details to Note:

  • Exam Date: March 28th, 2026.
  • Requirement: Only candidates who registered early and indicated interest in the mock exam are eligible.
  • Slip Content: The slip shows your CBT center, exam time, and seat number.

Option 1: How to Print Slip via the JAMB E-Facility Portal

This is the primary method for candidates who have their login details ready.

  1. Visit the official JAMB E-facility portal at www.jamb.gov.ng.
  2. On the homepage, locate and click on the “Print UTME Mock Notification Slip” link.
  3. You will be prompted to log in. Enter your Email Address and Password in the required fields.
  4. Click on the “Login” button to access your dashboard.
  5. Once logged in, locate the sidebar or menu and click on “Print Mock Slip”.
  6. Your exam details will appear on the screen.
  7. Click the “Print” icon to print a hard copy.

Option 2: How to Print Slip Using Registration Number

If you cannot access your profile via login or want a faster method, you can use the direct link method (if applicable for this session).

  1. Go to the JAMB portal at www.jamb.gov.ng.
  2. Look for the specific link titled “2026 UTME Mock Notification Slip” on the homepage.
  3. Enter your JAMB Registration Number or Email Address in the provided box.
  4. Click on “Print Mock Slip”.
  5. The system will generate your slip showing your venue and time.
  6. Use the print command on your browser to print the slip.

Why You Must Print Your Slip Early

Candidates are advised to print their slips immediately to confirm their exam centers. This allows you to:

  1. Locate your center: Visit the venue before the exam day to avoid getting lost.
  2. Plan your time: Know your exact reporting time to avoid lateness.
  3. Verify details: Ensure there are no errors in your assignment.

Good luck to all candidates sitting for the 2026 Mock Examination

IEA warns 40 Middle East energy assets severely damaged, surpassing 1970s crisis

By
Kehinde Victor
-

KEY POINTS

  • International Energy Agency (IEA) Executive Director Fatih Birol confirmed that over 40 energy assets across nine countries have been “severely or very severely” damaged in the ongoing conflict.
  • The disruption is described as more significant than the 1973 and 1979 oil crises and the 2022 Russia-Ukraine gas crisis combined.
  • Strategic trade in petrochemicals, fertilizers, sulfur, and helium has been interrupted, posing a long-term threat to global supply chains beyond the eventual end of hostilities.
  • The IEA stands ready to release more than its initial 400 million barrel record reserve if the Strait of Hormuz remains closed and market volatility persists.

MAIN STORY

International Energy Agency Executive Director Fatih Birol reported on Monday that the structural damage to Middle Eastern energy infrastructure would likely prolong global supply disruptions long after a ceasefire is reached.

 Speaking at Australia’s National Press Club in Canberra, Birol explained that the scale of the destruction, spanning refineries, oil fields, and pipelines in nine different nations means that bringing regional production back to pre-war levels will be a slow and technical process.

He noted that the three weeks of conflict have upended the entire global energy value chain, effectively neutralizing the Strait of Hormuz as a viable trade route.

The IEA chief further observed that the crisis has moved beyond just crude oil and natural gas. He stated that the interruption of “vital arteries” like fertilizers and petrochemicals would have serious consequences for global food security and manufacturing.

Birol addressed the heavy burden on Asian economies, which rely most on the region, and indirectly criticized unilateral export curbs, such as those seen in China. He maintained that while the IEA’s record release of 400 million barrels of emergency oil was helping to contain immediate price spikes, the only genuine solution to the current fuel shortage remains the full reopening of the Persian Gulf shipping lanes.

THE ISSUES

The primary concern for global policymakers is the “Compounded Shock” effect. Unlike previous crises that affected single commodities, the 2026 conflict has paralyzed oil, liquefied natural gas (LNG), and specialized industrial gases simultaneously. The destruction of desalination plants and IT infrastructure in the region further complicates the recovery, as modern oil extraction relies heavily on water injection and digital monitoring.

 Additionally, the IEA’s move to propose demand-trimming measures for energy importers suggests that supply-side interventions alone, such as tapping strategic reserves, may no longer be sufficient to prevent a global recession if the damage to these 40+ assets proves permanent or requires multi-year repairs.

WHAT’S BEING SAID

  • “The current disruptions are equivalent to the 1970s crises and the 2022 gas crisis all put together,” stated Fatih Birol, IEA.
  • “To have serious export restrictions without justification might not get plus points from the international community,” noted the IEA Director regarding China.
  • “The only true solution to fuel supply disruptions is the reopening of the major trade route,” Birol emphasized in Canberra.

WHAT’S NEXT

  • The IEA is monitoring the Strait of Hormuz for any signs of reopening following President Trump’s five-day strike postponement.
  • Member nations are reviewing the demand-trimming measures proposed by the IEA last week to reduce domestic consumption of oil and gas.
  • Technical teams are standing by to conduct damage assessments at regional refineries if the five-day pause in hostilities allows for safe transit.
  • A decision on a supplementary release of oil reserves beyond the 400 million barrels already committed is expected if the weekend deadline passes without a truce.

BOTTOM LINE

The Bottom Line is that the “Repair Bill” for this war is already measured in years, not months. By confirming the destruction of over 40 critical assets, the IEA is signaling that even a total peace deal tomorrow would not immediately return the world to $70 oil. The structural damage to the Middle East’s energy heartland has created a new, higher baseline for global inflation.

Goldman Sachs hikes 2026 oil forecast citing “largest-ever” supply shock

Gold and Silver pare losses as Trump halts Iran strikes, easing “dash for cash”

By
Kehinde Victor
-

KEY POINTS

  • Spot gold recovered from a dramatic 8.8% plunge to trade near $4,417.82 after US President Donald Trump postponed planned military strikes for five days.
  • Silver erased an intraday loss of more than 10%, rallying back to $68.52 an ounce as risk appetite showed signs of returning to the market.
  • Investors have been liquidating gold throughout the 24-day war to raise cash, following a market precedent seen during the 2008 and 2020 economic shocks.
  • The recovery in precious metals was supported by a 0.3% drop in the Bloomberg Dollar Spot Index after claims of “productive” conversations with Tehran.

MAIN STORY

The precious metals market experienced extreme volatility on Monday as news of a potential de-escalation in the US-Israel-Iran conflict reached traders. Spot gold, which had plummeted to a four-month low earlier in the day, rebounded sharply after President Trump announced a five-day pause on strikes against Iranian energy and power infrastructure. Trump stated that the postponement was a gesture of goodwill following discussions aimed at a total resolution of hostilities.

The news triggered a massive short-covering rally in gold and silver, which had both been hammered by a combination of a surging dollar and rising interest rate expectations since the conflict began on February 28.

Market analysts noted that gold’s poor performance throughout the war has surprised many who expected the metal to act as a traditional safe haven. Instead, the energy-driven inflation shock caused by the closure of the Strait of Hormuz led markets to price in more aggressive interest rate hikes from global central banks.

This shift made non-yielding bullion less attractive compared to the US dollar. David Wilson, director of commodities strategy at BNP Paribas, explained that this initial liquidation phase is a common market reaction, as investors typically sell liquid assets to hold the US dollar during the early stages of a major macro-economic shock.

THE ISSUES

The primary hurdle for a sustained gold rally remains the relationship between energy costs and real interest rates. While geopolitical fear usually drives gold higher, this conflict has spiked energy prices so severely that it has reignited global inflation concerns, forcing central banks to maintain a “higher-for-longer” rate stance.

This environment increases the opportunity cost of holding gold. Additionally, the massive margin calls in equity and energy markets over the last three weeks have forced institutional investors to sell gold and silver to cover losses in other sectors. Until the volatility in the oil market stabilizes and the threat to regional infrastructure is permanently removed, precious metals may continue to trade as liquidity proxies rather than stable safe havens.

WHAT’S BEING SAID

  • “Gold initially fell as markets reacted to news flow, with investors typically selling assets to hold the US dollar,” stated David Wilson, BNP Paribas.
  • “Productive conversations with Iran… subject to the success of ongoing discussions,” posted Donald Trump on social media.
  • “Surging energy prices have raised the odds of rate hikes… making bullion look less appealing,” noted market analysts in London.

WHAT’S NEXT

  • Traders are focused on the Friday deadline to see if talks fail and if the threat to Iranian power plants returns.
  • Markets will scan upcoming speeches from Federal Reserve officials to see if the recent oil price dip changes the outlook for a May rate hike.
  • Analysts are watching for reports of opportunistic buying by emerging market central banks looking to diversify during price dips.
  • If the five-day pause leads to a genuine truce, gold may decouple from the dollar and begin a secondary rally based on long-term inflationary damage.

BOTTOM LINE

The Bottom Line is that Gold is finally catching its breath, but it isn’t out of the woods. Today’s rebound was a relief rally triggered by a pause in the war, but until the threat to Iran’s power grid is permanently removed and oil prices stabilize, precious metals will remain vulnerable to the brutal mechanics of forced selling and a dominant US dollar.

Oil surges above $108 as Trump threatens Iran energy strikes

Goldman Sachs hikes 2026 oil forecast citing “largest-ever” supply shock

By
Kehinde Victor
-
Goldman Sachs

KEY POINTS

  • Goldman Sachs has raised its 2026 price forecasts for Brent crude to $85 per barrel and West Texas Intermediate (WTI) to $79 per barrel.
  • The revision is driven by the prolonged blockade of the Strait of Hormuz, which the bank describes as the most significant supply disruption in global oil market history.
  • International Energy Agency (IEA) chief Fatih Birol warned on Monday that the current crisis is more severe than the 1970s oil shocks and the 2022 gas crisis combined.
  • Analysts estimate that cumulative global crude losses could exceed 800 million barrels if the disruption continues at current intensity.

MAIN STORY

Goldman Sachs Group Inc. reported in a research note on Sunday that it had significantly increased its long-term oil price projections due to the ongoing maritime conflict in the Middle East. The bank’s analysts, led by Daan Struyven, explained that the effective closure of the Strait of Hormuz has created a structural supply deficit that will likely keep prices elevated through 2026.

 The new forecast assumes that shipping flows through the vital waterway will remain at just 5% of normal levels for at least six weeks, followed by a slow, month-long recovery period.

The report further detailed that the daily loss of Middle Eastern crude production is expected to peak at 17 million barrels per day. While commercial stockpiles in Western nations remained relatively high at the start of the conflict, Goldman observed that the physical tightness is now becoming acute, particularly in Asian markets that rely heavily on Gulf exports. The bank warned that even if a diplomatic resolution is reached, the market is now pricing in a permanent “risk premium” due to the exposed vulnerability of regional energy infrastructure.

THE ISSUES

The primary concern for global markets is the unprecedented scale of the current disruption compared to historical precedents. As noted by the IEA in Canberra on Monday, the world is currently losing roughly 11 million barrels of oil per day, which is more than double the combined shortfall of the 1973 and 1979 crises. This “triple threat”—combining oil scarcity, a 140 billion cubic metre natural gas deficit, and the physical destruction of at least 40 energy facilities—has created a volatility loop that traditional policy tools are struggling to contain. Furthermore, Goldman’s analysts pointed out that the high concentration of spare capacity in the Middle East means there is no immediate global alternative to fill a hole of this magnitude.

WHAT’S NEXT

  • Investors are waiting to see if President Trump’s five-day postponement leads to a reopening of the Strait or a subsequent strike on Iranian power plants.
  • The IEA is in active consultation with member states regarding a potential second coordinated release of strategic oil reserves.
  • Global shipping firms are monitoring for any signs of a “safe-passage” agreement that would allow non-aligned tankers to resume transit.
  • Policy makers in Asia, particularly China and India, are expected to announce new emergency energy conservation measures this week.

WHAT’S BEING SAID

  • “The largest oil supply shock ever will likely lead markets to recognize the structural risks from the high concentration of production,” stated Goldman Sachs.
  • “This crisis is now two oil crises and one gas crash put all together,” warned IEA Executive Director Fatih Birol.
  • “Commercial crude stockpiles in OECD countries are still rising, but physical tightness in Asia is becoming apparent,” the Goldman analysts added.

BOTTOM LINE

The Bottom Line is that Wall Street is no longer treating this as a temporary “blip.” By hiking 2026 forecasts, Goldman Sachs is signaling that the Iran war has permanently altered the global energy map, forcing the world to accept a “higher-for-longer” price environment even after the missiles stop flying.

SEC and NYSC sign strategic MoU to combat ponzi schemes via new CDS group

Trump halts strikes on Iran’s energy hubs for 5 days amid claims of “productive” talks

By
Kehinde Victor
-

KEY POINTS

  • US President Donald Trump has postponed threatened strikes against Iranian power plants and energy infrastructure for five days, citing “very good and productive” progress in talks.
  • Oil markets reacted violently to the news, with Brent Crude plunging over 14% to roughly $96/bbl before paring some losses following Iranian denials of direct contact.
  • The conflict, now in its 24th day, has claimed at least 4,200 lives, with the majority of casualties occurring in the Islamic Republic following the Feb 28 assassination of Supreme Leader Ali Khamenei.
  • Iran’s National Defense Council warned on Monday that any attack on its coastline would result in the mining of the “entire Persian Gulf,” effectively extending the current blockade of the Strait of Hormuz.

MAIN STORY

President Donald Trump announced on Monday that he had instructed the Department of War to suspend all planned military strikes against Iranian energy infrastructure for a five-day period. The President stated on social media that the US and Iran had engaged in constructive conversations regarding a “complete and total resolution” of hostilities in the Middle East.

Trump added that the stay of execution was subject to the ongoing success of these discussions, which he claimed were being facilitated by envoys Steve Witkoff and Jared Kushner. The announcement came just as a 48-hour deadline for Iran to reopen the Strait of Hormuz was set to expire.

Despite the President’s optimistic tone, the Iranian government has officially distanced itself from his claims. The semi-official Fars news agency reported that an anonymous Iranian source denied any “direct or indirect communication” with the Trump administration.

Analysts observed that the discrepancy caused a “whiplash” effect in global markets, where oil prices initially fell off a cliff before traders began to question the validity of the reported breakthrough. Meanwhile, backchannel mediation involving Turkey, Saudi Arabia, and Oman continues as regional powers scramble to contain a war that has already seen Brent Crude spike as high as $119/bbl this month.

THE ISSUES

The primary conflict remains centered on the Strait of Hormuz, a vital maritime artery that handles 20% of global oil and LNG exports. Iran’s effective closure of the waterway on March 2 has triggered a global energy crisis comparable to the 1970s oil shocks.

While the US and Israel have conducted sustained aerial bombardments of Iranian military and drone production sites, they have yet to “obliterate” the power grid—a move that would likely result in catastrophic humanitarian consequences. However, Iran’s counter-threat to mine the entire Persian Gulf suggests that even if the Strait is reopened, the risk of “floating mines” could keep insurance rates prohibitively high and shipping lanes effectively paralyzed for months.

WHAT’S BEING SAID

  • “We have had very good and productive conversations regarding a complete and total resolution of our hostilities,” stated Donald Trump.
  • “Iran hasn’t had direct or indirect communication with Trump,” reported the Fars News Agency.
  • “The entire Gulf will practically be in a situation similar to the Strait of Hormuz… do not forget the failure of 100 minesweepers in the 1980s,” warned Iran’s National Defense Council.

WHAT’S NEXT

  • Markets are counting down to Friday, March 27, when Trump’s postponement expires and the threat to bomb power plants returns to the table.
  • Diplomatic observers are looking for confirmation from neutral mediators like Oman to see if any genuine “resolution” is actually being drafted.
  • Data from MarineTraffic is being monitored to see if any tankers attempt to breach the blockade following the “pause” in hostilities.
  • An emergency session is expected later this week to discuss a potential multi-national “safe-passage” framework for the Gulf.

BOTTOM LINE

The Bottom Line is that the world is holding its breath for 120 hours. Whether Trump’s “very good talks” are a genuine diplomatic breakthrough or a tactical pause to let oil prices cool, the underlying threat remains: if the Strait of Hormuz doesn’t open by the weekend, the “energy war” moves from the sea to the Iranian mainland’s power grid.

FG ends three-year vacuum, inaugurates substantive board for PenCom

FG ends three-year vacuum, inaugurates substantive board for PenCom

By
Kehinde Victor
-

KEY POINTS

  • The Federal Government is set to inaugurate a substantive board for the National Pension Commission (PenCom) tomorrow in Abuja.
  • The move ends a prolonged leadership vacuum following the dissolution of the previous board in April 2023 by the former administration.
  • The inauguration follows sustained pressure from the Nigeria Labour Congress (NLC) and the Nigeria Employers’ Consultative Association (NECA).
  • Key priorities for the new board include strengthening oversight, accelerating CPS reforms, and improving returns on pension assets.

MAIN STORY

The Federal Government announced on Monday that a substantive governing board for the National Pension Commission (PenCom) would be officially inaugurated tomorrow at the Office of the Secretary to the Government of the Federation.

 This development follows a nearly three-year period during which the commission operated without its highest decision-making body.

The previous board was dissolved in April 2023 as part of a broader reconstitution of federal agencies, a move that critics argued left the pension industry without critical institutional checks and policy direction.

The government explained that the decision to constitute the board was a response to persistent calls for greater accountability and transparency within the N₦21 trillion pension industry. Labour leaders from the NLC and private sector representatives under NECA had previously warned that the absence of a governing council could weaken the governance structures meant to safeguard workers’ retirement savings.

With the new leadership stepping in, the commission is expected to move beyond the recent period of uncertainty and focus on expanding pension coverage to the informal sector while ensuring the prompt resolution of retirees’ complaints.

THE ISSUES

The primary challenge facing the incoming board is the “Governance Deficit” created by the long vacancy. Without a board, critical decisions regarding high-value pension fund investments and regulatory enforcement were reportedly delayed, affecting investor confidence.

Furthermore, the board must navigate a complex relationship with Pension Fund Administrators (PFAs) to ensure that the N₦21.05 trillion in assets under management continues to yield inflation-beating returns. Restoring the trust of the NLC and NECA will also be a priority, as both organisations have expressed concerns that the delay in board formation may have slowed down essential reforms needed to protect the Contributory Pension Scheme (CPS).

WHAT’S NEXT

  • The formal event is scheduled for tomorrow at the SGF’s office in Abuja, where the identities of the new board members will be officially unveiled.
  • The board is expected to hold its first sitting within the week to review pending investment approvals and regulatory updates.
  • Analysts expect the board to meet with NLC and NECA leaders shortly after taking office to address their specific governance concerns.
  • The first PenCom report under the new board is anticipated by mid-2026, which will serve as a benchmark for the new administration’s effectiveness.

WHAT’S BEING SAID

  • “The absence of a board could weaken governance structures and delay critical reforms needed to safeguard workers’ retirement savings,” stated Labour leaders (NLC).
  • “Employers require a stable and fully constituted regulatory environment to ensure compliance and sustain confidence,” noted NECA officials.
  • “Tomorrow’s ceremony is a signal of the Federal Government’s renewed commitment to pension sector governance,” observed Industry Analysts.

BOTTOM LINE

The Bottom Line is that PenCom finally has a “Head” to match its “Body.” By ending the 35-month board vacuum, the Federal Government has removed a major hurdle to institutional accountability. The success of this new board will be measured by how quickly it can turn the current N₦21 trillion asset base into a more secure and profitable future for the millions of Nigerian workers who have been waiting for a steady hand at the helm.

PwC : Global energy shock threatens to reshape Nigeria’s 2026 economic recovery

SEC and NYSC sign strategic MoU to combat ponzi schemes via new CDS group

By
Kehinde Victor
-
Quoted Company's Shareholders Fume At SEC, Here's Why

KEY POINTS

  • The Securities and Exchange Commission (SEC) and National Youth Service Corps (NYSC) have signed a Memorandum of Understanding (MoU) to launch a new investment-focused Community Development Service (CDS) group.
  • The initiative aims to equip corps members with the skills to identify and avoid Ponzi schemes while promoting legitimate capital market opportunities.
  • SEC will provide educational modules and funding for training, while NYSC will integrate this curriculum into its orientation camps and nationwide enlightenment programmes.
  • SEC Director-General Dr Emomotimi Agama revealed the commission currently hosts between 160 and 180 corps members, the highest of any Nigerian institution.

MAIN STORY

The Securities and Exchange Commission (SEC) reported on Sunday that it had formalised a partnership with the National Youth Service Corps (NYSC) to institutionalise financial literacy among young Nigerians.

During the signing ceremony, SEC Director-General Dr Emomotimi Agama and NYSC Director-General Brig.-Gen. Olakunle Nafiu explained that the collaboration would establish a dedicated CDS group focused on safe investment practices.

The commission stated that it would be responsible for developing up-to-date educational content and training modules on capital market operations to help youth stay clear of fraudulent financial traps.

The partnership is expected to turn corps members into “investment ambassadors” across all Local Government Areas in Nigeria. SEC further disclosed that it would provide the necessary resources and funding to train selected corps members and supervisors, who would then serve as facilitators in their respective communities. Brig.-Gen.

 Nafiu observed that “catching them young” was the most effective strategy to ensure that graduates did not patronise illegal schemes. He assured the commission that the NYSC remained committed to executing every term of the MoU to the letter for the betterment of the larger Nigerian society.

THE ISSUES

The primary challenge addressed by this MoU is the “Financial Literacy Gap” among Nigeria’s graduating youth, who are often targeted by sophisticated online Ponzi schemes due to high unemployment rates and the desire for quick returns.

While the SEC has successfully de-risked parts of the formal market, illegal operators continue to evolve. By leveraging the NYSC’s nationwide reach, the SEC is attempting to create a human “early warning system” in rural and urban areas. However, the success of this initiative will depend on whether the training modules stay ahead of the rapidly changing tactics used by digital fraudsters and whether corps members can effectively influence local populations who may already be wary of formal financial institutions.

WHAT’S NEXT

  • The SEC is expected to deliver the first set of training materials to NYSC orientation camps ahead of the next batch of corps members.
  •  Local Government NYSC offices will begin the formal registration of corps members into the new investment education CDS group.
  • Joint SEC-NYSC teams may begin a nationwide “sensitisation tour” to kick off the community outreach phase.
  • The first quarterly report on the number of people reached through the local government awareness campaigns is anticipated later this year.

WHAT’S BEING SAID

  • “There is no other institution in this country that can boast of [160-180 corps members]… it shows our commitment to the NYSC scheme,” stated Dr Emomotimi Agama.
  • “If we train and mold them well, they will be better ambassadors of the SEC in the outside world,” the SEC DG added.
  • “It is good to catch the corps members young so they won’t patronise Ponzi schemes,” noted Brig.-Gen. Olakunle Nafiu.

BOTTOM LINE

The Bottom Line is that the SEC is weaponising the NYSC network against financial fraud. By turning 300,000+ annual corps members into “fraud detectors,” the commission is moving from central regulation to grassroots enforcement, aiming to starve Ponzi schemes of their primary target: the Nigerian youth.

Manchester City defeat Arsenal 2-0 to win League Cup final

Week 38 Pool Result for Sat 21, Mar 2026, UK 2025/2026

By
Boluwatife Oshadiya
-

Week 38 pool results 2026: Football pools results, live football pool result today, pool result today saturday matches, pool results for this week, british and aussie pool result, football pools results and fixtures, pools panel results today, pool panel results and live score pool result today. We publish half-time results first of its kind.

Week 38 Pool Results: Football pools results for this week 38 2026 are published on this website immediately after full-time confirmation of live score results. We also publish the outcome of postponed matches by the football pools panel at half-time as decided by the football pools. This week’s Week 38 Pool Results are made available in partnership with Bizwatch Nigeria.

WEEK: 38; SEASON: UK 2025/2026; DATE: 21-March-2026
№Football Pools ResultsHTFTStatus
1ArsenalMan City0-:-00-:-2Away
2Aston VillaWest Ham1-:-02-:-0Home
3BrightonLiverpool1-:-12-:-1Home
4EvertonChelsea1-:-03-:-0Home
5FulhamBurnley0-:-03-:-1Home
6Leeds Utd.Brentford0-:-00-:-0noScoreDraw
7NewcastleSunderland1-:-01-:-2Away
8TottenhamNott’m For.0-:-10-:-3Away
9BlackburnMiddlesbro0-:-00-:-0noScoreDraw
10Bristol C.West Brom0-:-10-:-1Away
11CharltonNorwich0-:-10-:-1Away
12DerbyBirmingham1-:-01-:-0Home
13HullSheff Wed.2-:-13-:-1Home
14IpswichMillwall1-:-01-:-1ScoreDraw
15Q.P.R.Portsmouth3-:-16-:-1Home
16Sheff Utd.Wrexham0-:-01-:-2Away
17SouthamptonOxford Utd.2-:-02-:-0Home
18SwanseaCoventry0-:-30-:-3Away
19WatfordLeicester0-:-00-:-0noScoreDraw
20A.WimbledonPeterboro1-:-01-:-1ScoreDraw
21BarnsleyDoncaster0-:-00-:-1Away
22Burton A.Bradford C.1-:-02-:-1Home
23CardiffBlackpool0-:-00-:-0noScoreDraw
24Leyton O.Wycombe1-:-02-:-0Home
25LincolnRotherham3-:-03-:-0Home
26LutonStockport1-:-01-:-1ScoreDraw
27MansfieldNorthampton1-:-04-:-1Home
28PlymouthHuddersfield0-:-13-:-1Home
29Port ValeBolton1-:-01-:-0Home
30StevenageReading0-:-01-:-0Home
31Wigan A.Exeter1-:-02-:-0Home
32AccringtonChesterfield0-:-00-:-1Away
33BromleyColchester0-:-01-:-0Home
34Cambridge U.Salford C.0-:-01-:-0Home
35FleetwoodCrawley0-:-01-:-0Home
36GillinghamBristol R.1-:-01-:-2Away
37GrimsbyBarrow2-:-05-:-0Home
38Milton K.D.Barnet1-:-11-:-3Away
39Notts Co.Cheltenham2-:-25-:-2Home
40OldhamHarrogate0-:-01-:-0Home
41ShrewsburyCrewe0-:-20-:-4Away
42TranmereSwindon0-:-00-:-1Away
43WalsallNewport Co.0-:-12-:-1Home
44Dundee Utd.Celtic0-:-02-:-0Home
45FalkirkSt Mirren1-:-11-:-2Away
46HeartsDundee0-:-01-:-0Home
47KilmarnockLivingston1-:-02-:-0Home
48MotherwellHibernian0-:-00-:-0noScoreDraw
49RangersAberdeen1-:-04-:-1Home
PwC : Global energy shock threatens to reshape Nigeria’s 2026 economic recovery

Week 39 Pool Result for Sat 28, Mar 2026, UK 2025/2026

By
Boluwatife Oshadiya
-
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Week 39 pool results 2026: Football pools results, live football pool result today, pool result today saturday matches, pool results for this week, british and aussie pool result, football pools results and fixtures, pools panel results today, pool panel results and live score pool result today. We publish half-time results first of its kind.

Week 39 Pool Results: Football pools results for this week 39 2026 are published on this website immediately after full-time confirmation of live score results. We also publish the outcome of postponed matches by the football pools panel at half-time as decided by the football pools. This week’s Week 39 Pool Results are made available in partnership with Bizwatch Nigeria.

WEEK: 39; SEASON: UK 2025/2026; DATE: 28-March-2026
№Football Pools ResultsHTFTStatus
1BarnetCambridge U.-:--:-Saturday
2BarrowBromley-:--:-Saturday
3Bristol R.Accrington-:--:-Saturday
4CheltenhamTranmereVoidPPPanel
5ChesterfieldGrimsbyVoidPPPanel
6ColchesterWalsall-:--:-Saturday
7CrawleyGillingham-:--:-Saturday
8CreweOldham-:--:-Saturday
9HarrogateNotts Co.-:--:-EKO
10Newport Co.Shrewsbury-:--:-Saturday
11Salford C.Milton K.D.-:--:-Saturday
12SwindonFleetwood-:--:-Saturday
13AirdrieDunfermlineVoidPPPanel
14MortonArbroath-:--:-EKO
15St J’StoneQueens Pk-:--:-EKO
16AlloaPeterhead-:--:-Saturday
17East FifeStenhsemuir-:--:-EKO
18HamiltonK. Hearts-:--:-Saturday
19MontroseC. Rangers-:--:-Saturday
20AnnanStranraer-:--:-Saturday
21DumbartonForfar-:--:-EKO
22ElginClyde-:--:-Saturday
23SpartansE. Kilbride-:--:-Saturday
24Stirling A.Edinburgh-:--:-Saturday
25BrackleyTamworth-:--:-Saturday
26BraintreeCarlisle-:--:-Saturday
27EastleighForest G.-:--:-Saturday
28GatesheadYeovil-:--:-Saturday
29HalifaxScunthorpe-:--:-Saturday
30MorecambeAldershot-:--:-Saturday
31Solihull M.Altrincham-:--:-Saturday
32Sutton Utd.Rochdale-:--:-Saturday
33TruroBoreham W.-:--:-Saturday
34YorkWoking-:--:-Saturday
35CurzonChester-:--:-Saturday
36FyldeDarlington-:--:-Saturday
37HerefordBuxton-:--:-Saturday
38Kings LynnSpennymoor-:--:-Saturday
39LeamingtonPeterboro S.-:--:-Saturday
40Oxford C.Kidderminster-:--:-Saturday
41ScarboroughChorley-:--:-Saturday
42S. ShieldsAlfreton-:--:-Saturday
43TelfordBedford-:--:-Saturday
44WorksopRadcliffe-:--:-Saturday
45CheshamTonbridge-:--:-Saturday
46ChippenhamChelmsford-:--:-Saturday
47EastbourneBath City-:--:-Saturday
48EbbsfleetSlough-:--:-Saturday
49FarnboroHornchurch-:--:-Saturday
PwC : Global energy shock threatens to reshape Nigeria’s 2026 economic recovery

CBN targets single-digit inflation as transition to inflation-targeting regime gathers pace

By
Kehinde Victor
-

KEY POINTS

  • The Central Bank of Nigeria (CBN) has reaffirmed its move toward a fully-fledged Inflation Targeting (IT) monetary policy regime.
  • Deputy Governor Dr Muhammad Abdullahi stated on Monday that the bank aims to steer headline inflation into a 6–9% single-digit range in the medium term.
  • Recent reforms have contributed to a sharp decline in inflation from 34.8% in late 2024 to 15.1% by early 2026.
  • Key transition measures include a return to orthodox monetary tools, bank recapitalisation, and the unification of foreign exchange rates.

MAIN STORY

The Central Bank of Nigeria (CBN) reported on Monday that it was deepening its engagement with the academic and research community to support the country’s transition to a transparent, rules-based inflation-targeting framework.

During a strategic session with the Nigerian Economic Society (NES) in Abuja, Deputy Governor Dr Muhammad Abdullahi explained that the move marked a significant shift toward a forward-looking system designed to anchor long-term price stability. He noted that such a framework was essential to bolster Nigeria’s resilience against global uncertainties, including geopolitical tensions and volatile energy prices.

Abdullahi further detailed that the apex bank’s reforms were already yielding measurable outcomes, citing the drop in headline inflation to 15.1% in early 2026 from nearly 35% just over a year prior. He attributed this progress to sustained monetary tightening, the withdrawal from quasi-fiscal activities, and improved policy coordination with fiscal authorities.

The Deputy Governor maintained that the bank remained on track to achieve its medium-term target of 6–9% inflation, provided the economy avoided major external shocks. He emphasized that achieving this goal would require sustained policy discipline and a credible institutional framework that market players could trust.

THE ISSUES

The transition to a strict inflation-targeting regime presents several structural hurdles for the Nigerian economy. While the CBN has successfully unified exchange rates and deployed electronic trading platforms to improve price discovery, the “short-term trade-offs” mentioned by Director Victor Oboh often involve high interest rates that can stifle immediate domestic credit growth.

 Furthermore, the success of this framework relies heavily on the bank’s ability to manage public expectations and maintain institutional independence. Ensuring that the academic community and the NES provide a robust evidence base for these decisions is seen as a critical step in building the public trust necessary for the policy to stick.

WHAT’S BEING SAID

  • “The transition to an inflation-targeting framework marks a significant shift toward a transparent, forward-looking, and rules-based monetary policy system,” stated Dr Muhammad Abdullahi.
  • “The success of any monetary framework… depends on technical capacity, and also on public trust and effective communication,” noted Dr Victor Oboh.
  • “Nigeria needs a credible Central Bank, and the Nigerian Economic Society needs a Central Bank worth standing with,” added Dr Baba Musa, President of the NES.

WHAT’S NEXT

  • The CBN will likely extend its engagement sessions to other professional bodies and the private sector to further align market expectations.
  • Future Monetary Policy Committee meetings will be closely watched for further tightening or holding of rates as the bank chases its 6–9% target.
  • Legislative or internal policy updates may follow to further solidify the bank’s institutional independence.
  • Expect more frequent releases of the “evidence base” used for policy decisions to satisfy the academic and research community.

BOTTOM LINE

The Bottom Line is that the CBN is trading “discretion” for “discipline.” By moving toward a formal inflation-targeting regime and inviting academic scrutiny, the apex bank is attempting to lock in its recent gains against inflation, signaling to global and local investors that the era of unpredictable, interventionist monetary policy is over.

PwC : Global energy shock threatens to reshape Nigeria’s 2026 economic recovery

PwC : Global energy shock threatens to reshape Nigeria’s 2026 economic recovery

By
Kehinde Victor
-
PWC Predicts Further Growth For FinTechs

KEY POINTS

  • Brent Crude reached $102.83/bbl as of March 17, 2026, while the JKM gas benchmark surged to $19.28/mmBtu due to the US-Israel-Iran conflict.
  • The shock threatens to reverse an 11-month disinflation trend that saw Nigeria’s inflation drop to 15.06% in February 2026.
  • Higher prices offer a theoretical $20.2bn annual revenue premium, but actual gains are hampered by crude-backed debts and low production.
  • PwC warns that the 4.3% GDP growth projected in January faces significant reassessment as logistics and fuel costs surge.

MAIN STORY

PwC Nigeria reported in its latest macroeconomic briefing that the global energy market was experiencing significant shocks due to the ongoing conflict involving the US, Israel, and Iran.

The firm stated that Brent Crude had reached $102.83/bbl as of mid-March, a figure that sat well above Nigeria’s $64.85/bbl budget benchmark.

While the briefing acknowledged that this created a prospect for short-term excess revenue, it cautioned that the gross price premium estimated at roughly $55.5 million per day might not fully translate into fiscal gains for the federation.

The analysts further explained that Nigeria’s ability to capture this upside was being hindered by crude-backed and refinery-linked obligations, which reduced the pace at which higher prices fed into revenues.

Furthermore, the report noted that oil production in January had remained below the budget assumption of 1.84 million barrels per day. PwC observed that higher oil prices were already transmitting rapidly into the domestic economy through increased fuel, logistics, and transport costs.

The firm warned that this cost pass-through could reignite inflationary pressures, potentially reversing the country’s recent 11-month disinflation trend, where inflation had declined to 15.06% in February following recent reforms.

THE ISSUES

While Nigeria currently holds its strongest foreign reserves in 13 years at $50.45bn, the broader economy remains hyper-sensitive to external energy shocks. Businesses are now facing a severe dilemma as operating costs rise due to energy prices, yet consumer purchasing power is remains too fragile to absorb significant price hikes. Furthermore, the “unencumbered barrels” required to fund the 2026 budget are limited by recent production levels, which dropped to 1.48 million bpd in February—well below the 1.84 million bpd target. If the current geopolitical conflict persists, the macroeconomic stability achieved in 2025 could be eroded by a new wave of imported inflation and logistical volatility.

WHAT’S NEXT

  • Investors are monitoring the late-March MPC meeting to see if the CBN will pause its rate-cutting cycle in response to the energy shock.
  • The government’s ability to hit the 1.84m bpd production target is now the single most important factor for fiscal survival.
  • Monitoring if the CBN uses its $50.45bn buffer to provide FX liquidity for refined product importers to prevent further pump price spikes.
  • Analysts are watching the March inflation data to see if the 11-month downward trend officially comes to an end.

BOTTOM LINE

The Bottom Line is that Nigeria’s 2026 recovery is being tested by “Imported Volatility.” While the record foreign reserves provide a safety net, PwC makes it clear that sustainable growth will depend on whether the government can convert high oil prices into actual cash flow by fixing production bottlenecks before the inflation spike kills consumer demand.

NLC rejects ₦6trn power sector bailout, demands reform

Week 40 Pool Fixtures for Sat 4, Apr 2026, UK 2025/2026

By
Boluwatife Oshadiya
-

Now you can find the Week 40 pool fixtures 2026: pool fixtures for this week, this week pool fixtures, football pools results and fixtures, pool fixtures this week, classic pool fixtures, Aussie pool fixtures, UK pool fixtures, advance pool fixtures, Australia pool fixtures, pool panel results, pool result today Saturday, pool results and fixtures this week, fortune soccer pool fixtures.

Find all the Week 40 pool fixtures on Bizwatchnigeria.ng as soon as they are released by the FPA (Football Pools Authority).

Pool Fixtures For This Week: 40; SEASON: UK 2025/2026
№Advance Pool FixturesStatus
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5
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7
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9
10
11
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13
14
15
16
17
18
19
20
21
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49
NLC rejects ₦6trn power sector bailout, demands reform

Week 39 Pool Fixtures for Sat 28, Mar 2026, UK 2025/2026

By
Boluwatife Oshadiya
-
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Now you can find the Week 39 pool fixtures 2026: pool fixtures for this week, this week pool fixtures, football pools results and fixtures, pool fixtures this week, classic pool fixtures, Aussie pool fixtures, UK pool fixtures, advance pool fixtures, Australia pool fixtures, pool panel results, pool result today Saturday, pool results and fixtures this week, fortune soccer pool fixtures.

Find all the Week 39 pool fixtures on Bizwatchnigeria.ng as soon as they are released by the FPA (Football Pools Authority).

WEEK: 39; SEASON: UK 2025/2026; DATE: 28-March-2026
№Pools FixturesStatus
1BarnetCambridge U.Saturday
2BarrowBromleySaturday
3Bristol R.AccringtonSaturday
4CheltenhamTranmereSaturday
5ChesterfieldGrimsbyPanel
6ColchesterWalsallSaturday
7CrawleyGillinghamSaturday
8CreweOldhamSaturday
9HarrogateNotts Co.EKO
10Newport Co.ShrewsburySaturday
11Salford C.Milton K.D.Saturday
12SwindonFleetwoodSaturday
13AirdrieDunfermlinePanel
14MortonArbroathEKO
15St J’StoneQueens PkEKO
16AlloaPeterheadSaturday
17East FifeStenhsemuirEKO
18HamiltonK. HeartsSaturday
19MontroseC. RangersSaturday
20AnnanStranraerSaturday
21DumbartonForfarEKO
22ElginClydeSaturday
23SpartansE. KilbrideSaturday
24Stirling A.EdinburghSaturday
25BrackleyTamworthSaturday
26BraintreeCarlisleSaturday
27EastleighForest G.Saturday
28GatesheadYeovilSaturday
29HalifaxScunthorpeSaturday
30MorecambeAldershotSaturday
31Solihull M.AltrinchamSaturday
32Sutton Utd.RochdaleSaturday
33TruroBoreham W.Saturday
34YorkWokingSaturday
35CurzonChesterSaturday
36FyldeDarlingtonSaturday
37HerefordBuxtonSaturday
38Kings LynnSpennymoorSaturday
39LeamingtonPeterboro S.Saturday
40Oxford C.KidderminsterSaturday
41ScarboroughChorleySaturday
42S. ShieldsAlfretonSaturday
43TelfordBedfordSaturday
44WorksopRadcliffeSaturday
45CheshamTonbridgeSaturday
46ChippenhamChelmsfordSaturday
47EastbourneBath CitySaturday
48EbbsfleetSloughSaturday
49FarnboroHornchurchSaturday
NLC rejects ₦6trn power sector bailout, demands reform

NLC rejects ₦6trn power sector bailout, demands reform

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya, | March 23, 2026

Key Points
  • NLC rejects proposed ₦6 trillion bailout for power generation companies
  • Labour union calls for structural overhaul of Nigeria’s energy sector
  • Proposal includes merging Petroleum and Power ministries
Main Story

The Nigeria Labour Congress (NLC) has rejected a proposed ₦6 trillion federal government bailout for power generation companies, arguing that repeated financial interventions have failed to improve electricity supply across the country.

NLC President Joe Ajaero said in a statement issued in Abuja that the bailout does not address the underlying inefficiencies in Nigeria’s power sector.

“The proposed ₦6 trillion bailout is a mere symptom of deeper structural failures in the power sector, and repeated financial interventions have not translated into improved electricity supply,” Ajaero said.

He argued that continued reliance on public funds to sustain private-sector operators places an unfair burden on citizens, who face high electricity tariffs and persistent outages despite the interventions.

The NLC also proposed merging the Ministries of Power and Petroleum into a unified energy ministry, citing inefficiencies in gas supply coordination for thermal power generation.

The Issues

Nigeria’s power sector has struggled with chronic underperformance since its partial privatisation in 2013. Key constraints include inadequate gas supply, transmission bottlenecks, and liquidity challenges across the value chain.

Tariff structures remain politically sensitive, limiting cost recovery for operators while discouraging investment. At the same time, government interventions—often in the form of bailouts—have not translated into measurable service improvements.

The sector also suffers from weak regulatory enforcement and misalignment between upstream gas production and downstream electricity generation.

What’s Being Said

“We cannot continue to deploy public funds to sustain a fundamentally flawed system,” Ajaero said.

“Electricity must be treated as a social service and a fundamental right, not a profit-driven commodity,” he added.

Energy analysts have also argued that “without structural reform, financial bailouts will continue to deliver limited results,” reflecting broader industry sentiment.

What’s Next
  • Federal Government is expected to respond to labour opposition in the coming days
  • Stakeholder consultations may be convened to review power sector reform strategy
  • Policy debate likely to intensify over tariff structures and sector governance

The Bottom Line: Nigeria’s power crisis is not a funding problem — it is a structural one. Without systemic reform, additional bailouts risk deepening inefficiencies rather than resolving them.

Interswitch marks International Women’s Day with ‘give to gain’ initiative to empower women

Weaker Dollar eases pressure on African borrowers – S&P

By
Boluwatife Oshadiya
-
S&P 500

By Boluwatife Oshadiya, | March 23, 2026

Key Points
  • S&P says weaker U.S. dollar is reducing debt burden for African economies
  • Nigeria, Egypt, Uganda, and Zambia attract increased investor inflows
  • Risks remain from volatile capital flows and commodity price cycles
Main Story

African sovereign borrowers are set to benefit from a weaker U.S. dollar, which is easing external debt pressures and improving investor appetite for local markets, according to a new report by S&P Global Ratings.

The firm noted that softer dollar conditions are reducing imported inflation and lowering the local currency cost of servicing foreign-denominated debt across African economies, including Nigeria, Egypt, Uganda, and Zambia.

Improved global liquidity conditions—following aggressive monetary tightening between 2021 and 2023—have also driven renewed non-resident inflows into local-currency bond markets. This has helped stabilise exchange rates and compress yields in key frontier markets.

S&P highlighted that easing monetary conditions globally are expected to enhance access to foreign currency financing, as declining risk premiums improve sovereign market access.

However, the agency warned that gains will not be evenly distributed. Countries with stronger fiscal discipline, credible monetary frameworks, and adequate foreign reserves are more likely to sustain investor confidence.

The Issues

African economies remain structurally exposed to external shocks due to their reliance on commodity exports and foreign capital inflows. This creates a procyclical borrowing environment, where favourable conditions can quickly reverse during global tightening cycles.

Additionally, limited domestic savings and underdeveloped capital markets constrain local borrowing capacity. Many countries continue to depend heavily on external financing, exposing them to exchange rate volatility.

There are also disparities in financial system depth across the continent, affecting how effectively countries can absorb and deploy capital inflows.

What’s Being Said

“Easier global monetary policy conditions should facilitate access to foreign currency financing, with spread compression enhancing market access,” S&P analysts stated.

“Commodity price cycles remain a key driver of African sovereign credit dynamics,” the firm added.

What’s Next
  • Nigeria and Angola are expected to increase borrowing ahead of election-related spending cycles
  • Ghana may return to long-term bond issuance as macroeconomic conditions improve
  • Zambia continues to attract inflows following recent policy changes in its bond market

The Bottom Line: A weaker dollar offers temporary relief, but structural vulnerabilities in African economies mean the window for reform is limited. Countries that fail to consolidate fiscally risk losing investor confidence when global conditions tighten again.

TEF unveils 3,200 new beneficiaries for 2026; disburses $16 million in grants

Oil surges above $108 as Trump threatens Iran energy strikes

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya | March 23, 2026

Key Points
  • Brent crude rises above $108 per barrel amid escalating U.S.-Iran tensions
  • Donald Trump issues 48-hour ultimatum over Strait of Hormuz reopening
  • Markets price in supply disruption risks as Middle East conflict deepens
Main Story

Global oil prices climbed sharply on Monday after U.S. President Donald Trump threatened military strikes on Iran’s energy infrastructure, intensifying fears of supply disruptions through the Strait of Hormuz.

Brent crude, the international oil benchmark, rose 2.2% to $108.71 per barrel, while U.S. West Texas Intermediate (WTI) gained 2.3% to trade at $100.48 per barrel. The rally follows heightened geopolitical risk tied to the ongoing U.S.-Israeli military campaign against Iran, now entering its fourth week.

Trump over the weekend reiterated a 48-hour ultimatum first issued on March 21, warning that the U.S. would “obliterate Iranian power plants, starting with the biggest one” if Tehran fails to fully reopen the Strait of Hormuz—a strategic waterway responsible for roughly 20% of global oil flows.

In parallel, U.S. military planners are reportedly considering a ground operation targeting Kharg Island, Iran’s primary oil export hub, which handles about 90% of the country’s crude shipments. Deployment of U.S. Marines and naval forces to the Middle East has accelerated in anticipation of potential escalation.

Iran has responded with warnings of retaliatory strikes on U.S. and allied energy infrastructure across the region, including threats to fully shut down the Strait of Hormuz if its power facilities are attacked.

The Issues

The current escalation underscores the fragility of global energy supply chains, particularly the outsized role of the Strait of Hormuz as a critical chokepoint. Any disruption—even temporary—can trigger immediate price spikes due to constrained spare production capacity globally.

Additionally, the situation highlights the geopolitical risk premium embedded in oil markets. Since 2022, energy markets have remained highly sensitive to conflict in key producing regions, with limited buffer from strategic reserves following previous supply shocks.

There is also the structural issue of global dependence on Middle Eastern oil exports. Despite diversification efforts, Asia and parts of Europe remain heavily reliant on Gulf crude, amplifying the global economic fallout from any sustained disruption.

What’s Being Said

“A prolonged closure of the Strait of Hormuz would have severe implications for global oil markets, potentially driving prices significantly higher,” analysts at Fitch Ratings said in a note.

“If the strait remains closed for six months, Brent crude could average $120 per barrel in 2026,” the agency added.

Iranian officials have also warned that “any attack on our energy infrastructure will be met with a decisive response targeting regional energy assets,” according to state-backed statements.

What’s Next
  • The 48-hour U.S. deadline on Iran’s reopening of the Strait of Hormuz is expected to expire midweek
  • Military developments around Kharg Island could determine immediate market direction
  • Oil traders will closely monitor shipping activity and insurance premiums in the Gulf region

The Bottom Line: Oil markets are no longer reacting to fundamentals alone — geopolitical risk has become the dominant price driver. Any disruption in the Strait of Hormuz could trigger a sustained rally well above $120, with global inflationary consequences.

History made as first aircraft lands at Gusau international airport in 30 years

Dollar To Naira Exchange Rate Today, March 23rd, 2026

By
Boluwatife Oshadiya
-
Stears Africa FX Monitor Predicts Continued Naira Volatility

The exchange rate between the Nigerian Naira (₦) and the United States Dollar (USD) showed slight adjustments on Monday, March 23, 2026, as the market continued to reflect moderate volatility seen in recent sessions across the official foreign exchange window.

According to data from the Nigerian Foreign Exchange Market (NFEM), published on the Central Bank of Nigeria (CBN) exchange rate portal, the naira opened the day at approximately ₦1,356.74 per $1 USD. This comes amid a trading range observed in mid-March, where the currency fluctuated between ₦1,344 and ₦1,370 per dollar, indicating a relatively stable but sensitive FX environment.

Further data shows that the naira has recorded intraday highs of around ₦1,362.00 in recent sessions, while average closing rates continue to hover near the ₦1,355 level, suggesting a consolidation phase in the official market. This is brought to you by BizWatch Nigeria.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):
In the parallel market, the US dollar is trading at approximately ₦1,390 to ₦1,410 per $1 USD on Monday, March 23, 2026, based on data from market trackers and Bureau De Change (BDC) operators across major trading hubs.

Please note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), and has consistently advised individuals seeking foreign exchange to transact through authorised banks and official FX channels.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Selling Rate₦1,410
Buying Rate₦1,390

Dollar to Naira CBN / NFEM Rate Today

Dollar to Naira (USD to NGN)Official Exchange Rate Today
Opening Rate₦1,356.74
Recent High₦1,362.00

Important Note

  • The official exchange rate is sourced from the Nigerian Foreign Exchange Market (NFEM) and published by the Central Bank of Nigeria (CBN) via its official exchange rate platform.
  • The black market rate reflects prevailing prices quoted by Bureau De Change operators and informal FX dealers across major cities such as Lagos, Abuja, and Port Harcourt.
  • Exchange rates may vary slightly depending on location, transaction size, and dealer margins.

For daily updates on the naira, forex markets, and Nigeria’s economy, stay with BizWatch Nigeria.

Interswitch marks International Women’s Day with ‘give to gain’ initiative to empower women

Manchester City defeat Arsenal 2-0 to win League Cup final

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya | March 23, 2026

Key Points

  • Manchester City secure 2-0 victory over Arsenal to win Carabao Cup
  • Goalkeeper selection by Mikel Arteta backfires after costly error by Kepa Arrizabalaga
  • Nico O’Reilly scores twice in second half to seal City’s ninth League Cup title

Main Story

Manchester City claimed the first major trophy of the English football season after a commanding 2-0 victory over Arsenal in the Carabao Cup final at Wembley on Sunday, capitalising on a costly goalkeeping error that has intensified scrutiny on Arsenal manager Mikel Arteta’s selection decisions.

After a largely uneventful first half, City raised their intensity after the break and took the lead in the 60th minute when Nico O’Reilly headed home following a mishandled cross by Kepa Arrizabalaga. The Spanish goalkeeper, preferred over first-choice David Raya, failed to deal with pressure inside the box, gifting City the opener.

Just four minutes later, O’Reilly doubled the lead, connecting with a cross from Matheus Nunes to put the game beyond Arsenal’s reach. The Gunners struggled to respond, showing limited creativity in attack despite late pressure, including a shot that struck the crossbar.

Arteta’s decision to retain Kepa for the final—despite the availability of Raya—proved pivotal. The move, widely seen as loyalty to a cup goalkeeper, contrasted sharply with City manager Pep Guardiola’s approach, as his side delivered a clinical and disciplined performance.

City goalkeeper James Trafford also played a crucial role, producing a standout triple save to deny Arsenal forwards, including Kai Havertz and Bukayo Saka, preserving a clean sheet.

The defeat ends Arsenal’s hopes of a quadruple this season, marking another missed opportunity to secure silverware since their last major trophy win in 2020.

What’s Being Said

“I never understand why managers play their second-choice goalkeepers in cup finals. You’re trying to win a trophy, why wouldn’t you play your number one?” said Chris Sutton.

“We didn’t take our chances and were punished for our mistakes. At this level, those moments define the outcome,” Arteta said in his post-match remarks.

What’s Next

  • Arsenal will shift focus to the Premier League title race, where they remain strong contenders
  • The club also continues its campaign in the FA Cup and UEFA Champions League
  • Manchester City will look to build momentum as they pursue further domestic and European success this season

The Bottom Line: Arsenal’s defeat underscores the high-stakes consequences of tactical decisions at elite level football, where sentiment can undermine strategy. For Manchester City, the victory reinforces their dominance in domestic competitions and highlights their depth and execution under pressure.

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Interswitch marks International Women’s Day with ‘give to gain’ initiative to empower women

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Partners Posts
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Interswitch, the leading African technology company focused on creating solutions that enable individuals and communities prosper across Africa, commemorated International Women’s Day 2026 under the theme ‘Give to Gain’, with a thoughtfully curated internal initiative reaffirming its commitment to empowering women across its workforce and fostering an inclusive workplace culture.

As part of activities marking this year’s celebration, the company hosted a virtual session designed specifically for the women of The Switch, featuring Bunmi Dayo-Olagunju, Deputy Chief Executive, Stanbic IBTC Bank Limited, who spoke on the topic ‘Give to Gain – Give Value, Gain Visibility’. The session provided participants with practical insights on leadership development, value creation, and the strategic importance of visibility in career advancement.

Speaking on the initiative, Franklin Ali, Group Chief Human Resource Officer, Interswitch, highlighted the importance of creating deliberate opportunities that support women’s professional growth.

“At Interswitch, we believe empowering women goes beyond celebrating milestones like International Women’s Day. It requires creating meaningful platforms where women can learn, share experiences, and gain the visibility needed to grow as leaders. Through initiatives like ‘Give to Gain,’ we encourage our women to recognise the value they bring and confidently amplify their impact within the organisation and beyond,” he said.

During the session, Dayo-Olagunju emphasised the importance of intentional value creation and visibility in shaping professional growth for women in the workplace.

Drawing from her experience in the financial services sector, Dayo-Olagunju also shared perspectives on how women can intentionally position themselves for greater impact, build influence within their organisations, and translate consistent value delivery into meaningful professional growth.

The initiative reflects Interswitch’s belief that empowering women requires creating opportunities for learning, mentorship, and open dialogue. By facilitating conversations with accomplished leaders, the organisation continues to invest in the personal and professional development of its female employees.

In addition to the leadership session, Interswitch distributed customised care packages to female employees across its offices. The gesture served as a token of appreciation for the resilience, dedication, and excellence demonstrated daily by women across the organisation.

Beyond the session and care packages, Interswitch continues to support women across its workforce through a range of internal policies designed to promote wellbeing and work-life balance. These include access to top-notch creche facilities, a robust maternity leave policy, and an exclusive  spousal allowance initiative, all of which reinforce the company’s broader commitment to creating a supportive environment where women can thrive both professionally and personally.

This year’s International Women’s Day initiative reflects Interswitch’s recognition of the vital role women play in shaping the company’s continued growth and success. Across technology, operations, product development, finance, and leadership, women within the organisation continue to drive innovation and strengthen service delivery.

Through initiatives such as this, the company reaffirms its commitment to building an inclusive workplace where talent is nurtured, contributions are valued, and every employee is supported to grow and thrive.

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