NEMA reports sharp decline in flood fatalities, displacement in 2025

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April 1, 2026

By Boluwatife Oshadiya | April 1, 2026

Table of Contents

Key Points

Central Bank of Nigeria begins AML/CFT/CPF supervision pilot for selected virtual asset firms
Six firms including Flutterwave, Paystack, and KuCoin participate in first phase
Pilot focuses on risk assessment, FATF compliance, and financial system integrity

Main Story

The Central Bank of Nigeria has commenced a targeted Anti-Money Laundering, Counter-Financing of Terrorism, and Counter-Proliferation Financing (AML/CFT/CPF) supervision pilot involving selected Virtual Asset Service Providers (VASPs), marking a significant step in Nigeria’s oversight of crypto-related activities.

In a statement released on March 31, the apex bank said the pilot aligns with provisions of the Money Laundering (Prevention and Prohibition) Act 2022 and the Banks and Other Financial Institutions Act (BOFIA) 2020. The initiative forms part of its broader risk-based supervisory framework aimed at strengthening financial system stability and market integrity.

The pilot includes six entities—cNGN, Flutterwave, Juicyway, KoinKoin, KuCoin, and Paystack—identified for structured regulatory engagement. The CBN clarified that participation does not grant licensing or regulatory approval but is strictly supervisory.

According to the bank, participating firms are required to submit monthly compliance metrics, undergo governance and transaction monitoring reviews, and demonstrate readiness for Financial Action Task Force (FATF) requirements, particularly the Travel Rule on cross-border crypto transactions.

“The pilot is designed to develop a structured understanding of AML/CFT/CPF risks, business models, and operational practices across participating entities,” the CBN stated.

The Issues (Optional)

The move reflects Nigeria’s ongoing effort to close regulatory gaps in the fast-growing virtual asset sector, which has operated in a complex legal environment since earlier restrictions on crypto-linked banking transactions. Despite regulatory caution, crypto adoption in Nigeria remains among the highest globally, driven by currency volatility, remittance demand, and digital payment innovation.

However, concerns around illicit financial flows, sanctions evasion, and weak compliance frameworks have intensified pressure on regulators. The pilot signals a shift toward engagement and structured oversight rather than outright restriction, aligning Nigeria more closely with global standards set by the Financial Action Task Force.

What’s Being Said

“Participation in the Pilot reflects a formal supervisory invitation to engage with the CBN in a controlled and structured environment,” the apex bank said.

Industry analysts note that the inclusion of major fintech players such as Flutterwave and Paystack signals a broader regulatory intent beyond pure crypto exchanges.

“This is less about enforcement and more about intelligence gathering and alignment with global compliance norms,” said a Lagos-based financial compliance analyst.

The Nigerian Financial Intelligence Unit is also expected to collaborate with the CBN on aspects of the supervisory process where necessary.

What’s Next

Participating firms will submit monthly AML/CFT/CPF compliance reports under CBN templates
Subsequent phases of the pilot are already scheduled, with no open applications for new entrants
The CBN is expected to use insights from the pilot to refine its long-term regulatory approach to virtual assets

Bottom Line

The Bottom Line: The CBN’s pilot marks a calibrated shift from restriction to structured oversight in Nigeria’s crypto sector. While it stops short of full regulatory endorsement, it lays the groundwork for a more formalised and globally aligned digital asset framework.

Experts hail $49.53bn external reserves but seek relief for households

Dollar To Naira Exchange Rate Today, April 1st, 2026

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

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April 1, 2026

Stears Africa FX Monitor Predicts Continued Naira Volatility

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the naira closed at 1385 per $1 on Wednesday, April 1st, 2026. The naira traded as high as 1388 to the dollar at the investors and exporters (I&E) window on Tuesday. This is brought to you by Bizwatch Nigeria.

Table of Contents

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1430 and buy at ₦1410 on Tuesday 31st March, 2026, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Selling Rate	₦1430
Buying Rate	₦1410

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	CBN Rate Today
Highest Rate	₦1388
Lowest Rate	₦1385

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Experts hail $49.53bn external reserves but seek relief for households

Experts hail $49.53bn external reserves but seek relief for households

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April 1, 2026

Key Points

Nigeria’s external reserves stood at $49.53 billion as of March 25, 2026, according to data from the Central Bank of Nigeria (CBN).
Economists have commended the robust reserve level, noting its role in strengthening import cover and stabilizing the foreign exchange market.
Despite the high figure, the reserves saw a slight decline of $499.46 million (about one per cent) between March 11 and March 25.
Stakeholders are calling on the Federal Government to translate these macroeconomic gains into “targeted interventions” to combat rising cost-of-living pressures.

Main Story

Economic experts have lauded the Federal Government for maintaining Nigeria’s external reserves at a robust $49.53 billion, despite recent global market volatility. In separate interviews in Lagos on Monday, analysts noted that the current reserve level provides a critical buffer for international trade and strengthens the country’s external position. Prof. Ndubisi Nwokoma of Caleb University highlighted that strong reserves are essential for managing “imported inflation,” as they allow the apex bank to intervene in the foreign exchange market when necessary to maintain currency stability.

However, the reported figures also show a minor contraction. Between March 11 and March 25, the reserves dipped from $50.02 billion to $49.53 billion, a decline of roughly one per cent. This current standing remains slightly below the $51.04 billion projection for 2026 previously announced by CBN Governor Mr. Olayemi Cardoso. Former CBN Director Mr. Chris Nemedia underscored that while these reserves boost investor confidence for foreign portfolio investment, they must be complemented by fiscal measures to address the daily economic hardships faced by Nigerian households.

The Issue

The primary challenge identified by observers is the “Macro-Micro Disconnect.” While the nation’s “balance sheet” appears strong with nearly $50 billion in reserves, the average citizen is grappling with a significant spike in the cost of living. Global oil dynamics and domestic inflationary pressures have eroded purchasing power, leading to calls from groups like the Independent Shareholders Association of Nigeria for the government to ensure that reserve growth translates into better living standards. Without targeted support for transport and essential commodities, experts warn that the stability provided by high reserves may not be felt by the broader population.

What’s Being Said

“Strong reserves help support the local currency and boost investor confidence,” stated Mr. Chris Nemedia, though he urged for measures to address “economic pressures.”
Prof. Ndubisi Nwokoma noted that the current level will “extend the country’s import cover and support international trade,” which is vital for an import-dependent economy.
Mr. Sunny Nwosu argued that the improvement in reserves “should translate into better living standards for citizens across all income levels.”
Data from the CBN confirmed the one per cent drop over a two-week period, highlighting the continuous fluctuations in the nation’s liquid assets.

What’s Next

The Central Bank of Nigeria is expected to continue its managed intervention strategy to keep the reserves within a stable range despite the recent $499 million dip.
Pressure is mounting on the Ministry of Finance to roll out fiscal interventions aimed at easing transport and food costs for workers.
Analysts will be closely monitoring the April 2026 data to see if the reserves trend back toward Governor Cardoso’s $51.04 billion target.
The government may face calls to provide more transparent reporting on how these reserves are being utilized to buffer the economy against the “war premiums” currently affecting global oil and freight prices.

Bottom Line

Nigeria’s $49.53 billion reserve is a powerful shield against external shocks, but experts agree it cannot be the only tool in the shed. For the “Macroeconomic Outlook” to be considered a success by the public, the government must find a way to use this financial strength to lower the “survival cost” for the average Nigerian household.

Naira weakens as FX liquidity drops, Interbank deals fall

Edun calls for urgent fiscal reforms to curb $88bn annual illicit financial flows in Africa

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April 1, 2026

Key Points

Nigeria’s Minister of Finance, Wale Edun, has reported that illicit financial flows (IFFs) cost Africa approximately $88 billion annually, draining resources from healthcare and education.
Speaking in Abuja on Tuesday, Edun stated that Africa must aim to finance 90 per cent of its development needs internally, in line with the AU Agenda 2063.
The Minister highlighted Nigeria’s National Single Window system and exchange rate unification as key reforms implemented to enhance transparency and reduce leakages.
Edun identified tax evasion, weak institutional capacity, and over-reliance on external debt as the primary obstacles to the continent’s economic stability.

Main Story

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has called for bold and decisive fiscal reforms across Africa to combat the systemic drain caused by illicit financial flows.

Addressing the African Union Sub-Committee on Tax and Illicit Financial Flows in Abuja on Tuesday, Edun noted that the continent stands at a defining moment where self-reliance is no longer an option but a necessity.

He stated that Africa’s population of over 1.4 billion can only achieve prosperity if domestic financial resources are effectively mobilised and managed.

Edun lamented that the $88 billion lost each year to IFFs represents a direct theft from critical sectors like infrastructure and education.

He argued that sustainable development cannot depend on a cycle of debt and foreign aid. Instead, the Minister advocated for a shift toward domestic resource mobilisation as the foundation for long-term growth.

He pointed to Nigeria’s recent policy shifts—including the removal of fuel subsidies and the introduction of a National Single Window for trade—as evidence of how transparency in oil revenue and tax simplification can strengthen fiscal discipline.

The Issues

The primary challenge identified is the “Resource Leakage Gap.” Despite Africa’s vast natural wealth, weak institutional capacities and porous tax systems allow significant capital to flee the continent undetected. This creates a “Dependency Trap,” where nations are forced to borrow from external sources to fund basic services because their internal revenue is being siphoned off through tax evasion and opaque financial transactions. Closing this gap requires not just national policy changes, but a high level of cross-border collaboration to track and recover diverted funds.

What’s Being Said

“Africa stands at a defining moment where the urgency for reform is no longer in doubt,” stated Wale Edun, calling for “bold and decisive actions.”
He noted that the continent aims to finance up to 90 per cent of its development needs internally to meet the Agenda 2063 blueprint.
Edun highlighted that under President Bola Tinubu, Nigeria has implemented policies to “expand the tax base and ease the burden on vulnerable citizens.”
The Minister stressed that successful reforms will “reduce vulnerability to external shocks and create fiscal space for investment in critical sectors.”

What’s Next

African Union member states are expected to focus on harmonising digital infrastructure to better track cross-border financial transactions.
Domestic priorities will likely shift toward broadening the tax base and enhancing the efficiency of public financial management systems.
There is an anticipated push for stronger regional cooperation to implement the tax standards discussed during the sub-committee session.
Stakeholders will monitor the performance of Nigeria’s National Single Window as a potential model for other African nations looking to reduce trade-related leakages.

Bottom Line

Minister Edun’s message is a call for “fiscal sovereignty.” By identifying the $88 billion annual loss, he has set a clear target for African leaders: curb the leakages or remain tethered to external debt. For Nigeria, the focus remains on leveraging technology and policy transparency to ensure that domestic wealth stays within domestic borders.

NGX investors gain ₦516bn as index rises 0.40%

PenCom opens retirement savings to infants and students

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April 1, 2026

Key Points

The National Pension Commission (PenCom) has announced that the Personal Pension Plan is now accessible to newborns, infants, and students.
Director-General Mrs. Omolola Oloworaran confirmed on Tuesday that previous age-related system limitations have been resolved to allow early-life enrollment.
The commission is set to disburse the first tranche of premiums for the PenCare initiative by the end of this week.
PenCare is designed to provide low-income retirees with access to free healthcare, with medical expenses fully covered by PenCom.

Main Story

The National Pension Commission (PenCom) has officially expanded the scope of its Personal Pension Plan, inviting parents to enroll newborns and encouraging students to begin retirement planning.

Speaking in Lagos on Tuesday following the second Pension Industry Leadership Council meeting, the Director-General, Mrs. Omolola Oloworaran, stated that the move is part of a strategic effort to strengthen financial security across all Nigerian demographics.

She explained that the previous system constraints regarding age have been successfully addressed, making the plan a truly universal savings vehicle.

According to Oloworaran, the scheme allows for voluntary contributions, enabling parents to build a financial foundation for their children from birth.

She noted that by starting early, Nigerians can secure their long-term financial future through a disciplined savings culture.

Furthermore, the D-G disclosed that PenCom is currently developing additional initiatives to enhance the attractiveness and accessibility of the pension scheme to a broader segment of the population.

The Issue

The primary challenge facing the Nigerian pension industry has been the “Coverage Gap,” where a vast majority of the younger population and informal sector remains outside the social security net. By introducing infants and students into the fold, PenCom is attempting to solve the problem of late-life poverty through the power of compounding interest over decades. However, the success of this “Cradle-to-Grave” pension model will depend on the public’s trust in fund management and the ability of parents—many of whom are facing current economic pressures—to prioritize long-term voluntary contributions over immediate household needs.

What’s Being Said

“The Personal Pension Plan is available for everyone. Previous system limitations on age have now been resolved,” stated Mrs. Omolola Oloworaran.
She urged parents to take action, noting that “Parents can begin saving for their children from birth” to ensure early financial security.
Regarding retiree welfare, she confirmed that the first tranche of PenCare premiums would be disbursed before the week’s end to support “low-income retirees with access to free healthcare.”
Officials emphasized that these payments are being made in phases ahead of the official programme launch to ensure a seamless rollout of medical expense coverage.

What’s Next

PenCom is expected to launch a nationwide sensitisation campaign to educate parents and students on the benefits of early voluntary pension contributions.
The official launch of the PenCare initiative is slated for the coming weeks, following the successful disbursement of the initial medical premiums.
Industry observers will be monitoring the Pension Fund Administrators (PFAs) to see how they adapt their digital platforms to accommodate the registration of minors.
Future policy updates may include specific incentives or matching contribution schemes to make the Personal Pension Plan more appealing to low-income families.

Bottom Line

PenCom’s decision to include infants and students marks a fundamental shift in Nigeria’s approach to social security, moving from “retirement planning” to “lifetime financial engineering.” While the PenCare initiative offers immediate relief to current retirees, the inclusion of newborns represents a long-term play to ensure that the next generation of Nigerians is never left without a financial safety net.

CBN sets three-week cybersecurity deadline for banks

Pension funds to move from passive investors to active economic drivers

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April 1, 2026

Key Points

The Pension Industry Leadership Council has announced a strategic shift to reposition pension assets as active catalysts for Nigeria’s economic development.
Ms. Omolola Oloworaran, Director-General of PenCom and Council Chairman, stated on Tuesday that the industry is moving beyond its traditional role as a passive investment vehicle.
The Council is considering a Nigerian pension industry investment consortium to pool funds for national infrastructure and development projects.
Reported pension payouts have seen significant increases in some cases, with some outcomes exceeding 1,100 per cent in growth.

Main Story

The Pension Industry Leadership Council has reportedly reaffirmed its commitment to transforming Nigerian pension funds into active drivers of national growth.

Speaking at a news conference in Lagos on Tuesday, Ms. Omolola Oloworaran, the Director-General of the National Pension Commission (PenCom), announced a fundamental shift in how the industry operates.

She stated that Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) will now take on stronger stewardship roles, exerting greater influence on corporate governance and financial market outcomes.

To drive this transformation, the Council has established several key committees focusing on investment, risk, sustainability, and infrastructure.

Oloworaran explained that the new direction involves expanding investment outlets beyond traditional instruments into alternative assets and innovative structures.

A major highlight of the meeting was the proposal for a pension industry investment consortium, which would create a unified fund dedicated to financing bankable national development projects while ensuring that the returns on contributors’ assets are preserved.

The Issue

For years, the Nigerian pension industry has faced the “Conservative Constraint,” where assets were largely tied to low-risk government securities, limiting their impact on the broader economy. While this protected funds, it meant that trillions of naira in pension capital remained sidelined from critical infrastructure needs. The challenge now lies in “Active Stewardship”—ensuring that while these funds are used for national development, the risks are strictly managed. The Council’s focus on cybersecurity, data protection, and an updated risk framework is a direct response to the emerging threats that come with moving into more complex, alternative investment markets.

What’s Being Said

“Pension funds will no longer be passive investors; they will become active drivers of economic development,” declared Ms. Omolola Oloworaran.
She emphasised that the industry is entering a new phase defined by “leadership, coordination and teamwork,” aimed at improving investment outcomes across the financial ecosystem.
Regarding the benefits to contributors, she noted that “significant increases in pension payouts” have already been recorded, with some exceeding 1,100 per cent.
Oloworaran assured the public that the Council would provide “alignment, leadership with courage, and greater impact for the Nigerian people.”

What’s Next

The newly formed committees will begin developing bankable investment pipelines for infrastructure projects to ensure they meet the industry’s strict return requirements.
A nationwide rollout of the Personal Pension Plan will continue, specifically targeting increased participation from workers in the informal sector.
The Council is expected to release a medium-term strategy focused on harmonising industry policies and improving performance tracking.
Stakeholders will be watching for the formal establishment of the investment consortium, which could mark one of the largest shifts in domestic capital allocation in Nigeria’s history.

Bottom Line

PenCom is shifting the narrative from “safeguarding” to “stimulating.” By positioning pension funds as active participants in infrastructure and corporate governance, the Leadership Council is betting that the long-term success of the Nigerian economy is the best guarantee for a stable retirement for its citizens.

APC, ADC gain as 27 reps defect ahead of 2027 elections

DHQ destroys 101 illegal refineries and arrests 219 suspects in Q1 2026

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April 1, 2026

Key Points

Troops of Operation DELTA SAFE destroyed 101 illegal refining sites across the Niger Delta in the first quarter of 2026.
A total of 219 suspects involved in crude oil theft and related economic crimes were arrested during the period.
More than 547,920 litres of stolen petroleum products, including crude oil, AGO, and kerosene, were recovered by the military.
Security forces neutralised explosive threats at a sabotaged wellhead and conducted joint raids with the NDLEA to dismantle drug networks.

Main Story

The Defence Headquarters (DHQ) has reported a significant crackdown on economic sabotage in the South-South region, with troops destroying 101 illegal refining sites in the first three months of 2026.

Maj.-Gen. Michael Onoja, Director of Defence Media Operations, disclosed the figures during a quarterly briefing in Abuja on Tuesday.

He stated that the intensified operations under Operation DELTA SAFE led to the arrest of 219 suspects and the recovery of over 547,920 litres of stolen petroleum products.

According to Onoja, the military’s efforts in March alone resulted in the recovery of 193,570 litres of refined products and the interception of approximately 45,000 litres of stolen crude oil in Rivers State.

Beyond oil theft, the Director noted that troops successfully dismantled kidnapping dens in Rivers and Imo states, rescued several victims, and conducted joint operations with the National Drug Law Enforcement Agency (NDLEA) in Edo State to apprehend suspected drug traffickers.

The Issues

The primary challenge for the Nigerian military remains the “Whack-a-Mole” nature of illegal refining. Despite the destruction of over 100 sites in a single quarter, the low entry barrier for artisanal refining means that criminal networks often rebuild shortly after troops exit an area. This cycle creates a persistent “Environmental and Economic Drain,” where the sabotage of wellheads—such as the one recently neutralised in Akwa Ibom—threatens both the national treasury and the local ecosystem. The DHQ’s shift toward joint operations with civil agencies suggests an attempt to tackle the broader criminal ecosystem that supports oil theft, including the trade of illicit drugs used by these gangs.

What’s Being Said

“Operations had significantly degraded the capacity of criminal networks involved in oil theft in the region,” stated Maj.-Gen. Michael Onoja, affirming the military’s impact.
He noted that troops “uncovered a sabotage attempt at a wellhead” in Akwa Ibom, where explosives were safely neutralised before they could cause catastrophic damage.
The DHQ reaffirmed the “commitment of the Armed Forces to sustaining the offensive against economic sabotage and criminality in the Niger Delta.”
Security analysts have observed that the recovery of 547,920 litres of products reflects a high level of operational intelligence and persistent maritime surveillance.

What’s Next

Operation DELTA SAFE is expected to increase its use of aerial surveillance and drone technology to identify hidden refining camps in deep mangrove forests.
Continued collaboration with the NDLEA and the Nigeria Security and Civil Defence Corps (NSCDC) is planned to ensure a more comprehensive approach to regional security.
The military will focus on “Wellhead Protection” following the discovery of explosives, aimed at preventing the long-term environmental damage caused by blown-out infrastructure.
Quarterly reports will likely continue to serve as a metric for the government’s success in protecting the nation’s primary revenue source amidst global energy volatility.

Bottom Line

The destruction of 101 sites in Q1 shows that the military is maintaining a high operational tempo, but the arrest of 219 suspects highlights the human scale of the oil theft industry. For the DHQ, the goal is no longer just to burn tanks, but to dismantle the entire criminal supply chain that fuels the Niger Delta’s underground economy.

Dangote refinery secures $4bn loan led by Afreximbank

CSOs and Bille Kingdom demand urgent action over underwater gas eruption

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April 1, 2026

Key Points

Civil Society Organisations (CSOs) and the Bille Kingdom in Rivers State have called for an immediate government intervention to address a suspected underwater gas eruption.
The Environmental Rights Action (ERA) and Social Action visited the National Oil Spill Detection and Response Agency (NOSDRA) in Port Harcourt on Tuesday to seek clarity on the regulatory response.
Residents report “boiling and bubbling” in the waterways and residential areas, alongside frequent fire outbreaks that the community has been forced to manage alone.
While the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed an investigation began on March 20, CSOs claim there is still no clear timeline for action.

Main Story

Community leaders from Bille Kingdom and environmental advocacy groups have raised an alarm over a persistent and dangerous gas bubbling incident in the Degema Local Government Area of Rivers State.

During an advocacy visit to the National Oil Spill Detection and Response Agency (NOSDRA) on Tuesday, the groups expressed deep concern over what they termed an “inadequate response” from government regulators.

Mr. Kentebe Ebiaridor, Programme Manager of Environmental Rights Action, stated that despite the severity of the eruption, there remains no clear timeline for a definitive solution.

Legal practitioner and community stakeholder Mr. Deinbo described a harrowing scene where the ground and river appear to be “boiling,” with gas escaping in both waterways and residential sectors.

He noted that these eruptions have led to fire outbreaks, which the community has had to contain without professional emergency support.

The CSOs argued that in the absence of a confirmed facility owner, the companies operating within Oil Mining Lease 18 (OML 18) must be held accountable for the environmental impact and safety risks.

The Issues

The primary challenge is the “Regulatory Lag” in identifying the source and ownership of the leaking infrastructure. While the NUPRC acknowledged the incident in a statement by Chief Executive Oritsemeyiwa Eyesan on March 20, the lack of transparency regarding test results has left the community in the dark. Experts warn that this is not just an environmental issue but a burgeoning “Public Health Emergency.” Without a coordinated evacuation plan or emergency containment measures, the risk of a large-scale fire or chronic respiratory illness among residents remains high.

What’s Being Said

“There is still no clear timeline for action to address the situation,” lamented Mr. Kentebe Ebiaridor, calling for accountability from operators in the OML 18 area.
Dr. Prince Edegbuo of Social Action warned that the situation could escalate, stating, “residents have the right to know the condition of their environment.”
Community stakeholder Mr. Deinbo highlighted the physical signs of the crisis: “boiling and bubbling from the ground and river, sometimes within residential areas.”
Mr. Bello Augustin, Port Harcourt Zonal Head of NOSDRA, assured the delegation that he would “relate its concerns to the appropriate quarters.”

What’s Next

CSOs have threatened to intensify their advocacy and may push for a formal emergency evacuation plan if the gas bubbling is not contained.
The community is demanding the immediate release of environmental test results reportedly conducted by regulatory agencies.
NUPRC and NOSDRA are expected to provide a technical update on the investigation into the OML 18 facility links.
Stakeholders will monitor the area for further fire outbreaks, with calls for the deployment of specialized oil and gas fire-fighting equipment to the Bille waterfront.

Bottom Line

For the people of Bille Kingdom, the river is literally boiling, yet the regulatory response remains at a simmer. The demand for clarity is no longer just about environmental rights—it is a race against a potential public health and safety catastrophe in one of Rivers State’s key oil-producing corridors.

CBN allots ₦854bn in OMO bills to absorb liquidity

Lagos ports expect 43 vessels with fuel and food as maritime activity peaks

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April 1, 2026

Nigeria’s Exports Trade Forecasted To Peak At $112bn by 2030 - Report

Key Points

The Nigerian Ports Authority (NPA) has announced that 43 ships carrying petroleum products, food items, and essential goods are expected at Lagos ports between March 31 and April 8.
Arrivals are scheduled for the Apapa, Tin-Can Island, and Lekki Deep Sea ports.
Of the expected vessels, 19 are container ships, while the remaining 24 carry bulk commodities including urea, clinker, and base oil.
Currently, 21 ships are actively discharging cargo, while 18 vessels are anchored and waiting to berth.

Main Story

The Nigerian Ports Authority (NPA) reported a significant surge in maritime traffic, with 43 vessels laden with petroleum products, food, and industrial raw materials expected to arrive at Lagos ports over the next week.

Disclosing this in its daily “Shipping Position” publication on Tuesday, the NPA stated that the influx of goods is destined for the Apapa, Tin-Can Island, and Lekki Deep Sea ports.

The scheduled arrivals, spanning from March 31 to April 8, highlight a period of intensified activity across Nigeria’s primary maritime gateways.

According to the authority, the cargo breakdown includes 19 ships carrying various containerized goods, while 24 vessels are bringing in bulk shipments such as urea, clinker, and base oil.

Other essential commodities expected include aviation fuel, diesel, petrol, fresh fish, soya beans, and bulk sugar. This volume of imports is critical for maintaining the national supply chain for both energy and food staples amidst ongoing global market fluctuations.

The Issues

The primary operational challenge at the Lagos ports remains the “Berthing Bottleneck.” While the NPA has recorded high arrival numbers, there are currently 18 ships—including tankers carrying petrol and aviation fuel—waiting at anchorage because berths are occupied. This delay in docking can lead to increased demurrage costs, which are often passed down to consumers, further impacting the cost of living. Managing the simultaneous discharge of 21 vessels while coordinating the arrival of 43 more requires precise logistics to prevent gridlock at the Apapa and Tin-Can corridors.

What’s Being Said

The NPA confirmed that the expected vessels contain a diverse mix of “petroleum products, food items and other goods” essential for the economy.
Industry analysts note that the arrival of bulk urea and fertilizers is particularly timely for the commencement of the agricultural season.
Port officials stated that 21 ships are “presently discharging” a variety of items, including crude oil, fresh fish, and general cargoes, at the three major ports.
The “Shipping Position” report indicates that the Lekki Deep Sea Port is increasingly playing a vital role in handling larger volumes alongside the traditional Apapa and Tin-Can facilities.

What’s Next

Port managers are expected to fast-track the turnaround time for the 21 ships currently discharging to create space for the 18 vessels waiting at anchorage.
Coordination between the NPA and the Nigeria Customs Service will be critical to ensure the speedy clearance of the 19 container ships expected this week.
Market observers will monitor the arrival of the petrol and diesel tankers to see if the increased supply helps stabilize domestic fuel prices.
Ongoing infrastructure projects around the Lekki-Epe corridor will be tested as the Lekki Deep Sea Port handles its share of the 43 expected vessels.

Bottom Line

The arrival of 43 ships signals a robust period for Nigerian trade, but the “waiting to berth” status of 18 vessels serves as a reminder of the capacity pressures facing Lagos ports. For the average Nigerian, the successful and rapid offloading of these food and fuel cargoes is essential to keeping inflation in check during a volatile economic window.

Naira weakens as FX liquidity drops, Interbank deals fall

BUA Group and UBA strengthen 30-year partnership as BUA Foods hits N1.77trn revenue

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April 1, 2026

Tony Elumelu Attributes His Career Success To Luck

Key Points

BUA Group Chairman Abdul Samad Rabiu and UBA Chairman Tony Elumelu have reaffirmed a nearly three-decade strategic partnership to drive Nigeria’s industrial expansion.
BUA Foods PLC reported a stellar 2025 financial performance, with revenue climbing 16 per cent to N1.77 trillion.
The food conglomerate’s profit after tax surged by 95 per cent to N518.4 billion, leading to a proposed dividend of N28 per share.
The partnership focus remains on long-term capital for large-scale manufacturing, domestic production, and export-oriented value chains.

Main Story

Abdul Samad Rabiu, Chairman of BUA Group, has reaffirmed the conglomerate’s long-standing partnership with United Bank for Africa (UBA), describing it as a critical engine for industrial expansion and economic growth.

Speaking while hosting UBA Chairman Tony Elumelu and his executive team at the BUA headquarters in Lagos on Tuesday, Rabiu noted that the relationship has evolved over nearly 30 years—dating back to the era of Standard Trust Bank—into a collaboration focused on long-term value creation rather than mere transactions.

In response, Elumelu described BUA Group as a model of disciplined execution and industrial scale.

He pledged UBA’s continued support for transformative enterprises, stating that the bank’s role is to provide the long-term capital necessary for businesses to reshape the Nigerian economy.

The discussions reportedly centered on expanding financing frameworks to boost domestic manufacturing and support value chains aimed at the export market.

The news of the strengthened partnership coincides with the release of BUA Foods’ 2025 financial results, which showed a 16 per cent revenue increase to N1.77 trillion.

The company’s profit after tax saw a massive 95 per cent jump to N518.4 billion, up from the previous year. Consequently, the board has proposed a dividend of N28 per share, representing a 115 per cent increase from the N13 paid in 2024.

The Issues

The primary challenge for large-scale indigenous firms like BUA is the “Capital Intensity” of industrial expansion in a volatile macroeconomic environment. While BUA Foods has shown record profitability, the cost of sales remains high at N1.037 trillion, reflecting the inflationary pressures on raw materials and supply chain logistics. Sustaining this growth requires deep-pocketed financial partners like UBA to provide stable, long-term credit facilities that can weather currency fluctuations and support the massive infrastructure required for sugar, flour, and pasta production at scale.

What’s Being Said

Abdul Samad Rabiu emphasised that “enduring partnerships are not built on transactions, but on conviction,” reflecting a shared vision for Nigeria’s development.
Tony Elumelu reaffirmed UBA’s commitment, noting that “our role is to enable scale by providing long-term capital to businesses reshaping the Nigerian economy.”
Ayodele Abioye, Managing Director of BUA Foods, attributed the success to “disciplined growth” and expressed confidence that strong demand for staples like rice and flour would support “sustained growth in the coming years.”
Analysts noted that the N504 billion total dividend payout, if approved, would be one of the largest in the history of the Nigerian Exchange (NGX).

What’s Next

BUA Foods is expected to move forward with its capacity expansion strategies, specifically targeting the optimization of its supply chain to meet rising domestic demand.
Shareholders are set to vote on the proposed N28 dividend at the upcoming Annual General Meeting (AGM).
The partnership between BUA and UBA is likely to yield new financing frameworks specifically tailored for large-scale manufacturing and export-oriented projects.
Market observers will be monitoring BUA’s total assets, which rose 27 per cent to N1.39 trillion, to see how the group leverages its balance sheet for further industrial acquisitions or greenfield projects.

Bottom Line

The synergy between BUA’s industrial execution and UBA’s financial scale has created a formidable force in the Nigerian economy. With BUA Foods now crossing the N1.7 trillion revenue mark, the partnership serves as a blueprint for how indigenous capital and industrial vision can collaborate to drive national self-sufficiency.

China’s 2026 trade fair calendar- major trade fairs and events in China

Customs seizes ₦1.35bn smuggled goods in six weeks at Idiroko Border

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April 1, 2026

Key points

Idiroko Command intercepts smuggled goods worth ₦1.35 billion in six weeks.

Major seizures include vegetable oil, rice, cannabis, PMS and wildlife species.

Customs intensifies intelligence-driven operations to curb economic sabotage and boost revenue.

Main story

The Nigeria Customs Service (NCS), Idiroko Command, has recorded seizures of smuggled goods valued at ₦1.35 billion within six weeks, as part of intensified efforts to combat smuggling along Nigeria’s southwestern border.

The Customs Area Controller, Oladapo Afeni, disclosed this during a press briefing in Idiroko, Ogun State, noting that the command has sustained operational momentum since January 29, 2026, when it declared a renewed crackdown on illicit trade.

“Today’s briefing serves as a progress report on that promise,” Afeni said, attributing the seizures to intelligence-driven operations and coordinated patrols across the border corridor.

Among the major interceptions was a truck carrying 2,539 kegs of smuggled vegetable oil, each containing 25 litres, intercepted on March 11 along the Agbara axis following credible intelligence.

Investigations revealed that the products were smuggled into the country through creeks using small boats before being transported by road.

In a related operation on March 4, Customs operatives intercepted a Sino truck conveying 4,325 cartons of foreign spaghetti, underscoring what officials described as a persistent trend in the smuggling of essential food items.

The issues

Customs authorities said the influx of smuggled goods poses a significant threat to local industries, particularly domestic producers of vegetable oil and other essential commodities.

They also raised concerns over the health implications of unregulated imported food products and the broader economic impact of illicit trade on government revenue.

The Controller noted that smuggling networks have become increasingly sophisticated, necessitating stronger intelligence and enforcement strategies.

What’s being said

Afeni said the command remains committed to removing illicit goods from circulation to create a fair and competitive market environment.

“We are removing illicit products from the market to ensure fair competition for local manufacturers and safeguard the health of citizens,” he said.

Other items seized within the period include 1,204 bags of foreign parboiled rice, 2,547 parcels of cannabis sativa, 13,625 litres of Premium Motor Spirit (PMS), wildlife species including pangolins, as well as used clothing, vehicles and cultural artefacts.

The command handed over the seized drugs to the National Drug Law Enforcement Agency (NDLEA) for further investigation, while wildlife items were transferred to the National Wildlife Conservation Centre.

Similarly, two recovered antiquities were handed over to the National Commission for Museums and Monuments for preservation at the National Museum in Abeokuta.

Afeni warned smugglers to desist, stating that the command would remain proactive in surveillance and enforcement.

“Smugglers may attempt new tactics, but with our intelligence network and strategic monitoring, we remain ahead of them,” he said.

What’s next

The Idiroko Command said it would intensify border surveillance, strengthen inter-agency collaboration and deploy advanced intelligence systems to curb smuggling activities.

It also reaffirmed its commitment to facilitating legitimate trade and improving revenue generation, having recorded over ₦285 million from baggage assessments and auction sales within the review period.

Export activities are also expected to improve, following the movement of 95 metric tonnes of goods valued at over ₦305 million, marking a significant turnaround from the previous year.

Bottom line

The latest seizures underscore the Nigeria Customs Service’s renewed resolve to combat smuggling, protect local industries and enhance economic security, even as enforcement operations along the Idiroko border corridor intensify.

NGX pledges stronger collaboration with CIoD to deepen corporate governance standards

NGX pledges stronger collaboration with CIoD to deepen corporate governance standards

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April 1, 2026

Capital Market Goes Green Ahead Of 2022 Corporate Earnings

Key points

NGX Group reaffirms commitment to promoting corporate governance in partnership with CIoD Nigeria.

Exchange emphasises strict compliance, monitoring and sanctions to protect investors.

Stakeholders urged to uphold ethical leadership amid evolving business landscape.

Main story

The Nigerian Exchange Group Plc (NGX Group) has reaffirmed its commitment to strengthening corporate governance standards through strategic collaboration with the Chartered Institute of Directors Nigeria (CIoD).

Chairman of NGX Group, Umaru Kwairanga, made this known at the unveiling of the CIoD 2026 Corporate Governance Outlook held in Ikoyi, Lagos.

Kwairanga described CIoD as Nigeria’s foremost professional body for directors, noting its pivotal role in advancing governance practices through training, research and advocacy across both the public and private sectors.

He stressed that in an increasingly dynamic and complex business environment, directors must remain guided by strong ethical principles in their decision-making processes.

“Good ethical values should serve as a compass guiding directors, especially in today’s rapidly changing business landscape,” he said.

The issues

The NGX chairman noted that corporate governance remains critical to maintaining investor confidence and ensuring the long-term sustainability of businesses.

He explained that as the primary listing platform for companies seeking public quotation, the Exchange has a responsibility to enforce strict governance standards.

Kwairanga added that corporate governance requirements are embedded within NGX’s listing rules, making compliance mandatory for all listed entities.

What’s next

NGX Group pledged to sustain and deepen its collaboration with CIoD to enhance corporate governance frameworks and support the development of responsible leadership across sectors.

Stakeholders are also expected to leverage insights from the Corporate Governance Outlook to improve compliance and adapt to evolving regulatory and market demands.

Bottom line

Strengthening collaboration between NGX and CIoD is expected to reinforce corporate governance standards in Nigeria, boost investor confidence and promote sustainable business practices.

Sanwo-Olu unveils 2026 economic blueprint, reaffirms commitment to inclusive growth

Sanwo-Olu unveils 2026 economic blueprint, reaffirms commitment to inclusive growth

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April 1, 2026

IMG-20260331-WA0003-1024x675 — L-R: Chairman, House committee of Finance, Hon. Olufemi Saheed; CEO, Nigerian Economic Summit Group, Dr. Tayo Aduloju; Lagos State Commissioner for Economic Planning and Budget, Mr Ope George; Deputy Governor, Dr Obafemi Hamzat; Chairman, House committee on Economic Planning and Budget, Hon Saad Lukman and Deputy Chief of Staff to Governor Sanwo-Olu, Mr Sam Egube during the launch of Lagos Economic Development Update, LEDU 2026 in Ikeja, on Tuesday. Photo: Lagos State Ministry of Economic Planning and Budget.

Key points

Lagos launches 2026 Economic Development Update to guide policy and growth strategy.

Government emphasises resilience, competitiveness and shared prosperity.

Stakeholders call for stronger housing policies and sustained fiscal discipline.

Main story

Governor Babajide Sanwo-Olu on Tuesday unveiled the 2026 edition of the Lagos Economic Development Update (LEDU), reaffirming his administration’s commitment to inclusive growth and sustainable economic development.

The unveiling, held in Ikeja, provided a comprehensive assessment of Lagos State’s economic trajectory, highlighting global, national and local factors shaping its growth outlook.

Represented by his deputy, Obafemi Hamzat, the governor described the report as a strategic tool for guiding economic direction and strengthening policy decisions.

“This platform has evolved beyond a mere policy document; it has become a compass guiding our economic direction, shaping decisions and reinforcing our commitment to building a resilient, inclusive and prosperous Lagos,” he said.

Sanwo-Olu noted that despite global economic challenges—including post-pandemic recovery pressures, inflation and exchange rate volatility—the state has remained resilient through deliberate policies, fiscal discipline and sustained infrastructure investment.

He added that the state’s economic strategy remains anchored on the T.H.E.M.E.S+ Agenda, which prioritises infrastructure, economic diversification and social development.

The issues

The governor highlighted the need to navigate persistent global and domestic economic uncertainties while ensuring that growth translates into improved living standards for residents.

He stressed that economic expansion must go beyond macroeconomic indicators to address unemployment, inequality and access to basic services.

Sanwo-Olu also identified the need for stronger institutions, improved revenue systems and sustained investment in critical sectors such as infrastructure, energy and urban development.

What’s being said

Commissioner for Economic Planning and Budget, Ope George, said Lagos had demonstrated resilience in managing economic shocks through disciplined fiscal policies and strategic investments.

“Lagos is not just responding to economic shocks—we are building systems that make us stronger because of them,” he said.

Chief Consultant at B. Adedipe Associates Limited, Biodun Adedipe, described LEDU as a credible framework for tracking economic performance and refining development strategies.

He noted that Lagos remains central to Nigeria’s economy, adding that its continued growth signals broader national progress.

“If Lagos works, a significant share of Nigeria’s commerce works,” he said.

Meanwhile, the Chief Executive Officer of the Nigerian Economic Summit Group, Tayo Adeloju, urged the government to prioritise affordable housing as a key driver of inclusive growth.

He warned that high housing costs could limit upward mobility for low-income earners and undermine shared prosperity.

What’s next

The Lagos State Government is expected to deepen reforms focused on economic diversification, private sector-led growth, data-driven governance and sustainable urban development.

Sanwo-Olu also emphasised the need for stronger collaboration with the private sector, development partners and civil society to achieve the state’s long-term development goals.

Stakeholders are expected to leverage insights from the 2026 LEDU to align policies and investments with Lagos’ economic priorities.

Bottom line

Lagos is positioning itself for sustained growth by strengthening resilience and competitiveness, but experts say inclusive policies—particularly in housing and social development—will be critical to ensuring that economic gains translate into real benefits for all residents.

Tinubu meets security Chiefs, summons Mutfwang over Plateau killings

Türkiye, Sweden secure 2026 World Cup Spots as Kosovo, Poland exit Playoffs

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April 1, 2026

"We Are Determined To Qualify For World Cup 2022" - Super Eagles

Key points

Türkiye ends 24-year World Cup absence with narrow victory over Kosovo.
Sweden defeats Poland in five-goal thriller to qualify for 2026 tournament.
Kosovo and Poland fall short in decisive playoff matches.

Main story

Türkiye and Sweden have secured qualification for the FIFA World Cup 2026 following hard-fought playoff victories over Kosovo and Poland respectively.

Türkiye booked their place at the global tournament with a 1-0 win over Kosovo in Pristina, marking their first World Cup appearance since 2002 and ending a 24-year wait.

Kerem Aktürkoğlu scored the decisive goal in the 53rd minute, securing victory in a tense encounter played before a passionate home crowd.

Ranked 25th in the world, Türkiye’s qualification represents a significant turnaround after years of disappointment in previous qualifying campaigns, under the guidance of coach Vincenzo Montella.

Kosovo, ranked 79th, saw their impressive qualifying run come to an end, narrowly missing out on what would have been their first appearance at a major international tournament.

In another playoff clash, Sweden edged Poland 3-2 in a dramatic encounter to seal their place at the tournament.

Anthony Elanga opened the scoring for Sweden, before Nicola Zalewski equalised for Poland. Gustaf Lagerbielke restored Sweden’s lead before halftime, while Karol Świderski drew Poland level again in the second half.

However, Viktor Gyökeres struck a late winner to send Sweden through.

The issues

Both matches highlighted the growing competitiveness of World Cup qualifiers, with emerging football nations such as Kosovo pushing established teams to the limit.

For Poland, the defeat represents a major setback, while Kosovo’s exit underscores the narrow margins that often define qualification campaigns.

What’s next

Sweden will now compete in Group F of the 2026 World Cup alongside Netherlands, Japan and Tunisia, marking their return to the tournament for the first time since 2018.

Türkiye will await the final group stage draw as preparations begin for their long-awaited return to the global stage.

Bottom line

Türkiye and Sweden have earned their places at the 2026 World Cup through determined playoff performances, while Kosovo and Poland exit after narrowly missing out in closely contested matches.

APC, ADC gain as 27 reps defect ahead of 2027 elections

Nigeria risks losing regional trade edge without deep seaports — Stakeholders warn

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April 1, 2026

fast875-640x360 — Former Managing Director, Nigerian Ports Authority (NPA), Bello Gwandu (left); former Chairman, Board of Trustees, NPA, Bode George; former President, Dr Goodluck Jonathan; former National President, Association of Nigerian Licensed Customs Agents (ANLCA), Olayiwola Shittu; Chief Executive Officer, Maritime Media Limited, Asu Beks; Commissioner for Marine and Blue Economy, Bayelsa State, Dr. Faith Zibs-Godwin; General Manager of Corporate and Strategic Planning, NPA, Seyi Iyawe and General Manager, Corporate and Strategic Communications, NPA, Ikechukwu Onyemekara at the maiden International Deep Seaport Investment Forum (IDSIF) held in Lagos.

Key points

Stakeholders warn Nigeria may lose cargo traffic to neighbouring countries without deep seaport investment.
Former President Goodluck Jonathan calls for urgent infrastructure upgrade to meet global maritime demands.
Experts highlight gaps in connectivity, automation and green port development as critical priorities.

Main story

Key stakeholders in Nigeria’s maritime sector have warned that the country risks losing its dominance in regional trade if it fails to urgently invest in deep seaport infrastructure.

The warning was issued at the maiden International Deep Seaport Investment Forum (IDSIF) organised by Maritime Media Limited in Lagos, where industry leaders, policymakers and investors converged to discuss the future of Nigeria’s port system.

Former President Goodluck Jonathan cautioned that failure to adapt to modern deep-sea port requirements could leave Nigeria economically disadvantaged in global maritime trade.

He noted that without such investments, large cargo vessels may bypass Nigerian ports entirely, forcing the country to depend on neighbouring nations for transshipment.

Jonathan, however, acknowledged ongoing efforts in deep seaport development, citing projects such as the Ibom Deep Seaport in Akwa Ibom State and the Agge Deep Seaport in Bayelsa State.

He called for stronger collaboration among government, private investors and international partners—particularly from the Middle East—to drive sustainable port development.

The issues

Despite accounting for over 60 per cent of West Africa’s Gross Domestic Product (GDP), Nigeria currently handles only about 25 per cent of regional cargo throughput.

The Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, described the situation as a critical mismatch between economic potential and maritime capacity.

Represented by Ikechukwu Onyemekara, Dantsoho said Nigeria must transition from ageing, high-maintenance legacy ports to modern deep seaports to remain competitive.

He identified key gaps in hinterland connectivity, digital integration, green energy adoption and project financing as areas requiring urgent attention.

What’s being said

The Minister of Marine and Blue Economy, Adegboyega Oyetola, emphasised the Federal Government’s commitment to developing modern, automated and environmentally sustainable ports.

Represented by Seyi Iyawe, the minister stressed the importance of efficient cargo evacuation systems and digital automation, especially following the introduction of the National Single Window.

“We know that deep seaports are important. What we should consider is hinterland connectivity and how cargoes are moved. We must also prioritise automation and green port development,” he said.

Former Managing Director of the Niger Delta Development Commission, Timi Alaibe, called for alignment with global best practices, particularly within the Gulf of Guinea.

He urged Nigeria to partner with leading global port operators such as DP World, Abu Dhabi Ports and Adani Ports to attract investment and improve efficiency.

Similarly, the Convener of IDSIF and Chief Executive Officer of Maritime Media Limited, Asu Beks, noted that evolving global shipping trends—particularly the use of larger vessels—have rendered many of Nigeria’s existing ports less competitive.

What’s next

Stakeholders called for increased investment in deep seaport projects, improved public-private partnerships and stronger policy frameworks to enhance Nigeria’s maritime competitiveness.

They also emphasised the need to position new deep seaports as primary hubs for large vessels, while upgrading existing ports to function as feeder terminals.

The implementation of the African Continental Free Trade Area (AfCFTA) is expected to further increase cargo volumes and create new opportunities for Nigeria to reclaim its regional trade leadership.

Bottom line

Without urgent investment in modern deep seaport infrastructure and supporting systems, Nigeria risks losing its strategic position in West African maritime trade to better-equipped neighbouring countries.

Dangote refinery secures $4bn loan led by Afreximbank

Tinubu meets security Chiefs, summons Mutfwang over Plateau killings

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April 1, 2026

Key points

President Bola Tinubu convenes emergency meeting with security chiefs over Plateau violence.
Plateau Governor Caleb Mutfwang summoned to Abuja for urgent consultations.
Federal Government activates coordinated security response following deadly Jos attack.

Main story

President Bola Ahmed Tinubu on Tuesday held a high-level security meeting with top military and intelligence chiefs following renewed violence in Plateau State, summoning Governor Caleb Mutfwang to Abuja for urgent consultations.

The development comes in the wake of a deadly attack in Angwan Rukuba district of Jos, where gunmen reportedly killed at least 28 persons and injured several others, heightening concerns over security in the state capital.

The Minister of Information and National Orientation, Mohammed Idris, disclosed the President’s directive while briefing journalists in Abuja.

Idris said the Federal Government had activated a coordinated security response to contain the situation and prevent further escalation.

According to him, Governor Mutfwang has been invited to meet with the President to develop a joint strategy aimed at restoring lasting peace in Plateau State, noting that outcomes of the meeting would be made public.

The issues

Plateau State has long grappled with recurring cycles of violence, often linked to communal tensions and criminal activities, raising concerns about the sustainability of peace in the North-Central region.

The latest attack in Angwan Rukuba underscores persistent security vulnerabilities, particularly in urban and peri-urban communities.

Authorities are also contending with the challenge of preventing reprisals and ensuring that violence does not spread to neighbouring areas.

What’s being said

Idris said security agencies responded swiftly to the attack, with troops under Operation Enduring Peace deployed immediately following distress calls.

He noted that security forces cordoned off the affected area, secured access routes and launched targeted clearance operations to track down those responsible.

“Reinforced surveillance, increased troop deployments and joint patrols have been activated in high-risk areas to proactively neutralise threats,” he said.

The minister added that the Federal Government remained committed to dismantling criminal networks through sustained military operations and intelligence-led missions.

While describing the killings as regrettable, Idris maintained that the incident does not signify a breakdown of national security, but rather a criminal act being decisively addressed.

“There will be no safe haven for criminal elements anywhere in Nigeria,” he said.

He also disclosed that Nigeria continues to collaborate with the United States on security, with American personnel working alongside Nigerian intelligence agencies to strengthen tracking and response capabilities.

What’s next

The meeting between President Tinubu and Governor Mutfwang is expected to produce a comprehensive strategy to address the crisis and stabilise the state.

Meanwhile, the Plateau State Government has imposed a curfew in parts of Jos to restore order, as security agencies intensify operations and investigations into the attack.

Authorities say ongoing operations are already generating actionable intelligence aimed at apprehending the perpetrators.

Bottom line

The Federal Government’s swift intervention signals renewed urgency in tackling Plateau’s security challenges, as authorities move to contain violence, prevent reprisals and restore stability in the troubled region.

Tinubu meets former ministers ahead of 2027 political realignments

NGX investors gain ₦516bn as index rises 0.40%

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April 1, 2026

By Boluwatife Oshadiya | April 1, 2026

Table of Contents

Key Points

NGX All-Share Index rises 0.40% to close at 201,287.78
Market capitalisation increases by ₦515.68bn to ₦129.21tn
Gains driven by buying interest in medium and large-cap stocks

Main Story

Equity investors on the Nigerian Exchange (NGX) gained approximately ₦516 billion as the All-Share Index rose by 0.40% in Tuesday’s trading session, reversing losses recorded in the previous session.

The benchmark index advanced by 803.35 basis points to close at 201,287.78, while total market capitalisation climbed to ₦129.21 trillion. The rally was largely driven by renewed bargain hunting in select medium and large-cap stocks across key sectors.

Trading activity strengthened, with total volume rising by 44.45% and transaction value increasing by 3.16%. Data from Atlass Portfolio Limited showed that 855.41 million shares worth ₦27.03 billion were exchanged in 53,016 deals.

Wema Bank led trading volumes, accounting for over 20% of total shares traded, while MTN Nigeria dominated value trades, contributing 25.64% of total market turnover.

On the gainers’ chart, Multiverse Mining led with a 9.88% increase, followed by International Energy Insurance and Chams Holding Company. However, market breadth remained negative, with 49 decliners against 20 gainers, led by NPF Microfinance Bank, which dropped 10%.

Sector performance was mixed, with banking and insurance indices declining, while consumer goods, oil and gas, and industrial goods sectors recorded modest gains.

What’s Being Said

“The market rebound reflects selective bargain hunting after recent sell-offs, particularly in fundamentally strong stocks,” said analysts at Atlass Portfolio Limited.

What’s Next

Investors will monitor Q1 earnings releases for corporate performance signals
Monetary policy direction may influence short-term market sentiment
Profit-taking could emerge if gains are not supported by fundamentals

The Bottom Line:

The modest rebound highlights cautious optimism in the equities market, but weak breadth signals underlying fragility and selective investor confidence rather than a broad-based rally.

Akpabio declares three senate seats vacant after lawmakers’ deaths

Naira weakens as FX liquidity drops, Interbank deals fall

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April 1, 2026

By Boluwatife Oshadiya| April 1, 2026

Table of Contents

Key Points

Naira depreciates to ₦1,386.72/$ at official market
Interbank FX deals drop sharply amid liquidity constraints
CBN interventions fail to stabilise short-term pressure

Main Story

The naira extended its decline against the US dollar at the official foreign exchange market, closing at ₦1,386.72 per dollar as FX liquidity tightened and interbank trading activity weakened.

Data from the Central Bank of Nigeria (CBN) showed a sharp drop in interbank FX deals, which fell by over 60% within 24 hours, signalling reduced market participation and constrained supply.

The apex bank had injected $95 million into the market last week in an attempt to ease pressure, including a $65 million intervention on Friday. However, demand for foreign currency — driven by import obligations and safe-haven positioning — continued to outweigh supply.

Interbank turnover also declined significantly, dropping to ₦30.95 million from ₦145.29 million recorded earlier in the week, reflecting persistent liquidity shortages in the official window.

At the parallel market, the naira traded relatively stable at around ₦1,420 per dollar, indicating tightening conditions across both official and informal segments.

Global oil market developments added to FX pressures, with Brent crude rising to $119 per barrel following supply disruptions linked to geopolitical tensions in the Middle East, particularly around the Strait of Hormuz.

What’s Being Said

“The persistent gap between FX demand and supply continues to pressure the naira despite intervention efforts,” said a Lagos-based currency analyst.

What’s Next

The CBN may intensify FX interventions to stabilise the market
Oil price volatility could impact Nigeria’s FX inflows in the near term
Further policy adjustments may be considered to manage liquidity

The Bottom Line:

The naira’s continued weakness underscores structural FX supply challenges, suggesting that short-term interventions alone may be insufficient without deeper reforms to boost dollar inflows.

China’s 2026 trade fair calendar- major trade fairs and events in China

Dangote refinery secures $4bn loan led by Afreximbank

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