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Tinubu arrives in Nairobi for Africa forward summit on investment, development

By
Ibe Wada
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Key points

  • President Bola Ahmed Tinubu has arrived in Nairobi for the Africa Forward Summit focused on investment and sustainable development
  • The summit is co-hosted by Kenyan President William Ruto and French President Emmanuel Macron.
  • Tinubu is expected to hold bilateral and multilateral engagements aimed at strengthening Nigeria’s diplomatic and economic partnerships across Africa.

Main story

President Bola Ahmed Tinubu arrived in Nairobi early Monday to participate in the Africa Forward Summit, a high-level gathering focused on investment, innovation, and sustainable development across the African continent.

According to a statement issued in Nairobi by the presidential spokesperson, Bayo Onanuga, the presidential aircraft landed at the Jomo Kenyatta International Airport at about 12:18 a.m. local time.

Tinubu was received by Kenya’s Cabinet Secretary for Foreign and Diaspora Affairs, Musalia Mudavadi, alongside Kenya’s High Commissioner to Nigeria, Isaac Parashina, senior Kenyan government officials, and members of Nigeria’s diplomatic mission in Nairobi.

The Africa Forward Summit, co-hosted by Kenyan President William Ruto and French President Emmanuel Macron, brings together African leaders, policymakers, investors, development institutions, and global stakeholders to deliberate on economic growth, innovation, infrastructure development, and strategic continental partnerships.

Tinubu’s participation at the summit is expected to reinforce Nigeria’s commitment to promoting African unity, deepening regional economic cooperation, and advancing strategic partnerships aimed at accelerating sustainable development and infrastructure expansion across the continent.

The summit is expected to focus on key issues including economic transformation, digital innovation, trade integration, climate resilience, infrastructure financing, and practical solutions designed to enhance long-term prosperity throughout Africa.

During the summit, the Nigerian president is expected to engage in bilateral and multilateral meetings aimed at strengthening Nigeria’s diplomatic and economic relations with African nations and international development partners.

The presidency said Tinubu’s attendance reflects the administration’s commitment to promoting African-led solutions to continental challenges while advancing the Renewed Hope Agenda through strategic diplomacy, investment partnerships, and international cooperation.

Accompanying the president are the Minister of Foreign Affairs, Bianca Ojukwu; the Minister of Agriculture and Food Security, Abubakar Kyari; and the Minister of Marine and Blue Economy, Adegboyega Oyetola.

Other members of the delegation include the Minister of Environment, Balarabe Lawal; the Minister of Industry, Trade and Investment, Jumoke Oduwole; and the Minister of Communications, Innovation and Digital Economy, Bosun Tijani.

Also on the delegation are Ambassador Sola Enikanolaiye, Mrs Omotenioye Majekodunmi, and Nigeria’s Ambassador to France, Ayodele Oke, alongside senior government officials involved in diplomacy, climate policy, and investment promotion.

The issues

African economies continue to face mounting challenges linked to infrastructure deficits, climate change, limited industrialisation, unemployment, and constrained access to development financing.

Stakeholders say stronger regional cooperation, increased intra-African trade, and strategic investment partnerships are critical to unlocking the continent’s economic potential and reducing dependence on external markets.

Nigeria’s participation in continental investment and development forums also comes amid ongoing efforts to attract foreign investment, improve trade relations, and strengthen its leadership role within Africa.

What’s being said

The Nigerian presidency says the summit provides an opportunity for Nigeria to deepen diplomatic relations, attract investment, and contribute to discussions on Africa’s long-term development priorities.

Development experts believe the forum could strengthen collaboration between African governments and international partners in areas such as infrastructure, climate resilience, digital innovation, and trade expansion.

Observers also say the summit reflects increasing efforts by African leaders to pursue home-grown solutions to economic and development challenges facing the continent.

What’s next

President Tinubu is expected to participate in high-level discussions, policy dialogues, and strategic meetings throughout the summit.

Nigeria may also pursue new bilateral agreements and investment partnerships in sectors including agriculture, technology, infrastructure, climate action, and maritime development.

Outcomes from the summit are expected to shape future regional cooperation initiatives and economic partnerships across Africa and beyond.

Bottom line

President Tinubu’s participation in the Africa Forward Summit underscores Nigeria’s efforts to strengthen its diplomatic influence, promote regional cooperation, and attract strategic investments aimed at driving sustainable development across Africa.

Oil prices climb above $105 as US-Iran talks stall

Pi-CNG mandates reduced transport fares for participating operators

By
Kehinde Victor
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Key points

  • Ismaeel Ahmed, Executive Chairman of Pi-CNG and EV, stated that operators under the initiative must adhere to reduced fare structures nationwide.
  • The directive follows complaints from commuters in the Federal Capital Territory (FCT) regarding non-compliance by airport taxis and commercial buses.
  • Participating operators have signed formal agreements to maintain lower pricing in exchange for project benefits.
  • Monitoring personnel have been deployed to transport routes, and reporting channels are open for passenger complaints.
  • Ahmed acknowledged that enforcement remains a challenge due to manpower limitations and price hikes occurring in the absence of officials.

Main Story

The Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG and EV) has reaffirmed that transport operators integrated into its scheme are legally bound to charge reduced fares.

Speaking to the News Agency of Nigeria (NAN), Executive Chairman Ismaeel Ahmed addressed rising concerns from passengers who allege that many CNG-powered vehicles are charging rates inconsistent with the initiative’s goals.

Ahmed clarified that every operator signed a pricing agreement upon joining the program, designed to pass the cost-savings of cheaper fuel directly to commuters.

To ensure compliance, the initiative has deployed monitoring teams across major routes, though Ahmed admitted that “manpower limitations” hinder constant oversight.

He noted a recurring trend where operators return to higher prices once monitoring officials leave the area, a challenge he stated is not limited to Abuja but exists across Nigeria.

To combat this, the initiative is expanding its route coverage including areas like Kubwa, and strengthening partnerships to improve enforcement. Passengers are encouraged to use established reporting channels to submit verified complaints against non-compliant drivers.

The Issues

  • The disparity between official fare agreements and actual prices charged at parks often leaves commuters vulnerable to arbitrary hikes.
  • Limited enforcement personnel makes it difficult to maintain consistent pricing across the vast network of urban and interstate transport routes.
  • Strategic expansion to new routes is required to create enough competition to naturally drive down fares through the availability of CNG alternatives.

What’s Being Said

  • “There is an existing agreement with all operators signed up with us to maintain reduced pricing structures,” stated Ismaeel Ahmed.
  • “Once we are not there, people increase their prices, and when we are there, they leave it reduced,” Ahmed noted regarding enforcement hurdles.
  • “The media has an important role in ensuring the public continues to benefit from this intervention,” he added, calling for increased public awareness.

What’s Next

  • Pi-CNG and EV will continue expanding service delivery to routes like Kubwa to increase the volume of compliant vehicles.
  • Monitoring mechanisms are expected to be refined, potentially integrating more digital reporting tools for commuters.
  • Strategic partners and transport unions will likely face increased pressure to self-regulate members who violate signed pricing agreements.

Bottom Line

While the Pi-CNG initiative provides the infrastructure for cheaper transport, its success currently hinges on overcoming the enforcement gaps that allow operators to bypass agreed-upon fare reductions.

Over 3,700 primary healthcare centres inactive across 19 States, FCT

Oil prices climb above $105 as US-Iran talks stall

By
Boluwatife Oshadiya
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By Boluwatife Oshadiya | May 11, 2026

Key Points

  • Brent crude rose above $105 per barrel amid renewed geopolitical tensions.
  • US-Iran negotiations over the Strait of Hormuz showed little progress.
  • Concerns over possible disruptions to global oil supply pushed prices higher.
  • Market fears intensified following comments from US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu.

Main Story

Global oil prices surged on Monday after renewed tensions between the United States and Iran weakened hopes of a diplomatic breakthrough over the Strait of Hormuz, raising fears of possible disruptions to global crude supply.

International benchmark Brent crude climbed to $105.55 per barrel as of 9:26 a.m. local time, representing a 4.2% increase from the previous session’s close of $101.29.

US benchmark West Texas Intermediate also gained sharply, rising about 4.9% to $100.06 per barrel from $95.42 recorded previously.

The rally followed a series of conflicting proposals and counterproposals between Washington and Tehran over regional security arrangements and maritime access through the Strait of Hormuz, one of the world’s most critical oil transit routes.

The Strait of Hormuz remains strategically important to global energy markets, with roughly one-fifth of the world’s petroleum liquids supply transported through the waterway daily. Any disruption along the route often triggers immediate volatility in global oil markets.

Investor concerns intensified after Israeli Prime Minister Benjamin Netanyahu, Prime Minister of Israel, stated that the conflict with Iran was “not over,” warning that Tehran still possesses enriched uranium.

“I think it accomplished a great deal. But it’s not over because there’s still nuclear material, enriched uranium, that has to be taken out of Iran,” Netanyahu said during an interview aired on CBS News.

The comments reinforced market expectations that tensions in the Middle East may persist longer than previously anticipated.

Meanwhile, Donald Trump, President of the United States rejected Iran’s latest response to a proposed US-backed peace framework.

“I have just read the response from Iran’s so-called ‘Representatives.’ I don’t like it — TOTALLY UNACCEPTABLE!” Trump wrote on his social media platform, Truth Social.

Iranian state media later reported that Tehran had submitted a counterproposal through Pakistani mediators, demanding compensation from the United States, the lifting of sanctions, and the release of frozen Iranian assets abroad.

Iran also reportedly reaffirmed its sovereignty over the Strait of Hormuz and rejected what it described as excessive demands from Washington.

Energy analysts say the latest developments have increased concerns that geopolitical risks could continue to pressure crude markets despite relatively high global inventories and slower demand growth in some major economies.

What’s Being Said

Market analysts noted that traders remain highly sensitive to developments involving the Strait of Hormuz because of its central role in global oil transportation.

Several energy market observers also warned that any escalation involving Iran could further tighten global supply conditions and place additional upward pressure on fuel prices worldwide.

Oil-producing countries within the Organization of the Petroleum Exporting Countries,OPEC oil producers groupand allied producers are also closely monitoring developments as geopolitical uncertainty continues to shape market sentiment.

What’s Next

Investors are expected to closely watch diplomatic engagements between Washington and Tehran in the coming days for signs of either escalation or renewed negotiations.

Energy traders will also monitor shipping activity around the Strait of Hormuz, alongside any potential policy responses from major oil producers and consuming nations.

Further escalation could push oil prices higher and reignite inflation concerns across several economies already dealing with elevated energy costs.

Bottom Line

Oil markets remain highly vulnerable to geopolitical tensions in the Middle East. With negotiations between the United States and Iran showing limited progress, fears of supply disruptions through the Strait of Hormuz are continuing to drive volatility and support higher crude prices.

 How your home environment is secretly shaping your mood and success

Vehicle imports surge 67% as Nigeria’s port reforms drive trade expansion

By
Boluwatife Oshadiya
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FG Suspends Import Adjustment Tax On Selected Vehicles

By Boluwatife Oshadiya | May 11, 2026

Key Points

  • Vehicle imports into Nigeria rose by 67% in the first quarter of 2026.
  • The Nigerian Ports Authority handled 58,870 vehicle units, up from 35,262 units in Q1 2025.
  • Cargo throughput climbed 11.6% year-on-year to 32.38 million metric tons.
  • Export container traffic and transshipment activities recorded significant growth amid ongoing port reforms.

Main Story

Nigeria’s maritime sector recorded strong growth in the first quarter of 2026, with vehicle imports jumping 67% year-on-year as reforms across the country’s ports continued to boost trade activity and cargo efficiency.

According to the Nigerian Ports Authority’s Q1 2026 Operational Performance Review, total vehicle units handled across Nigerian ports rose to 58,870 during the period, compared with 35,262 units recorded in the corresponding quarter of 2025.

The NPA also reported a sharp increase in Gross Registered Tonnage for ocean-going vessels, which climbed 19.5% to 46.75 million. The development reflects increasing deployment of larger-capacity vessels to Nigerian ports, particularly following the operational expansion of the Lekki Deep Seaport and ongoing efforts to position Nigeria as a major regional trade hub under the African Continental Free Trade Area.

The authority said the growth in vessel tonnage signals stronger confidence among international shipping companies in Nigeria’s maritime infrastructure and cargo-handling capacity.

Total cargo throughput, excluding crude oil terminals, increased by 11.6% year-on-year to 32.38 million metric tons from 29.02 million metric tons recorded in Q1 2025.

The report attributed the increase to stronger import and export activity, improved port productivity, rising trade volumes, and sustained demand for port services.

Export-related operations recorded some of the strongest performances during the quarter. Outward cargo traffic surged 23.7% to 14.13 million metric tons, while outward laden container traffic rose 67.6% from 61,332 twenty-foot equivalent units in Q1 2025 to 102,803 TEUs in Q1 2026.

Transshipment container activity also expanded significantly, recording an 83.1% increase during the period as Nigeria strengthened its role within regional maritime logistics networks.

Industry analysts say the performance reflects the combined impact of infrastructure upgrades, digitalisation initiatives, improved terminal efficiency, and stronger regional trade integration.

In recent years, the Federal Government has accelerated investment in port modernisation projects, rail connectivity, inland dry ports, barging operations, and export corridors aimed at reducing congestion and improving cargo evacuation around major port corridors.

The government is also implementing the Port Community System and the National Single Window platform to streamline cargo clearance processes, reduce turnaround time, improve transparency, and lower logistics costs for importers and exporters.

What’s Being Said

“The time has come for a paradigm shift in the structure of Nigeria’s economy towards the full utilisation of our marine resources. Our port system, if properly harnessed, can serve as a major driver of economic growth,” said Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, Managing Director of Nigerian Ports Authority.

Dantsoho added that efficiency, innovation, speed, and reliability would determine which African countries emerge as dominant cargo and logistics hubs under the AfCFTA framework.

The NPA stated that Nigeria’s maritime ecosystem is becoming increasingly cargo-intensive and commercially dynamic, strengthening its ability to support economic growth, regional connectivity, and trade facilitation.

What’s Next

Maritime stakeholders expect further growth in cargo volumes and vehicle imports as the government intensifies infrastructure upgrades and expands digital reforms across the nation’s ports.

Analysts also anticipate stronger competition among West African ports as countries position themselves to capture a larger share of regional cargo flows under AfCFTA.

The continued expansion of Lekki Deep Seaport operations, alongside rail integration and inland logistics development, is expected to play a critical role in improving efficiency and attracting larger shipping lines into Nigeria.

Bottom Line

Nigeria’s ports are recording stronger trade activity as infrastructure upgrades and operational reforms begin to reshape the maritime sector. Rising vehicle imports, increased cargo throughput, and stronger export traffic indicate growing confidence in the country’s port system and its ambitions to become a leading regional trade and logistics hub.

Same rodent, different danger: How lassa fever and hantavirus differ

Yuan strengthens against dollar on Monday

By
Kehinde Victor
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Keypoints

  • The central parity rate of the Chinese Yuan strengthened by 35 pips to 6.8467 against the U.S. dollar on Monday, May 11, 2026.
  • Data from the China Foreign Exchange Trade System (CFETS) indicates this move reflects a weighted average of market maker quotes.
  • The Yuan is permitted to fluctuate within a specific trading band around this daily reference rate.
  • In the spot market, the currency is allowed to rise or fall by 2% from the central parity rate each trading day.

Main Story

The Chinese Yuan saw a modest appreciation on Monday morning, with the central parity rate set 35 pips stronger at 6.8467 per dollar.

This daily reference rate, managed by the China Foreign Exchange Trade System (CFETS), serves as the anchor for onshore trading.

The rate is calculated using a weighted average of prices submitted by market makers before the interbank market opens, taking into account the previous day’s closing price and movements in other major global currencies.

Under China’s managed floating exchange rate system, the Yuan’s spot exchange rate is restricted to a 2% range above or below the central parity rate during any single trading session.

This mechanism is designed to prevent excessive volatility while allowing the currency to respond to broader market forces. The recent strengthening of the parity rate aligns with the People’s Bank of China’s (PBOC) ongoing efforts to maintain currency stability amid fluctuating international economic conditions.

The Issues

  • Maintaining a 2% daily trading band requires constant monitoring by the central bank to ensure market forces do not push the currency beyond regulatory limits.
  • The reliance on a “weighted average of prices” from market makers gives the central bank a degree of discretionary control over the daily fixing, which can influence investor sentiment.
  • Global trade tensions and domestic economic performance continue to exert pressure on the Yuan’s valuation against the dollar.

What’s Being Said

  • The China Foreign Exchange Trade System confirmed the 35-pip shift, noting it follows standard daily calculation procedures.
  • Market analysts suggest the 6.8467 level reflects a balanced approach to currency management in the current global FX environment.
  • Observers note that the 2% fluctuation limit remains a key tool for the PBOC to manage capital flows and domestic financial stability.

What’s Next

  • CFETS will continue to announce the central parity rate each business day at approximately 9:15 a.m. local time.
  • Traders will monitor whether the Yuan stays near the stronger end of its 2% band as international markets react to the latest fixing.
  • Future policy shifts regarding the width of the trading band may be considered if global market volatility increases significantly.

Bottom Line

The Yuan’s slight strengthening to 6.8467 against the dollar reinforces the PBOC’s commitment to a managed exchange rate within a strictly defined daily 2% fluctuation window.

NiMet forecasts three days of sunshine, rainfall across Nigeria

JAMB exempts education, agriculture candidates from UTME

By
Ibe Wada
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JAMB To Prosecute 'Highest UTME Scorer' For Manipulating Result

Key points

  • The Joint Admissions and Matriculation Board has announced that candidates seeking admission into Education and Agriculture-related non-engineering courses will no longer be required to sit for the UTME.
  • The decision was disclosed during JAMB’s ongoing 2026 admission policy meeting.
  • The move signals a major shift in Nigeria’s tertiary admission process and could create alternative admission pathways for affected candidates.

Main story

The Joint Admissions and Matriculation Board (JAMB) has announced that candidates seeking admission into Education programmes and Agriculture-related non-engineering courses will no longer be required to sit for the Unified Tertiary Matriculation Examination (UTME).

The examination body disclosed the development in a statement shared on its official X handle during its ongoing policy meeting on admissions held on Monday.

“Candidates seeking admissions into Education Programmes and Agriculture non-Engineering Courses are now exempted from UTME,” the board stated.

The decision marks a significant shift in Nigeria’s tertiary admission system, where the UTME has traditionally served as the standard entrance examination for admission into universities, polytechnics, and colleges of education nationwide.

The annual policy meeting organised by JAMB typically determines guidelines for admissions into tertiary institutions, including minimum cut-off marks, admission procedures, and policy directions for the academic session.

Although exemptions from the UTME are not entirely new — particularly for Direct Entry applicants and certain special categories — the latest waiver represents one of the broadest admission policy adjustments introduced by the board in recent years.

The development is expected to affect candidates seeking admission into education-related disciplines and agriculture programmes outside engineering fields, potentially allowing institutions to adopt alternative admission processes such as screening exercises and consideration of other academic qualifications.

In recent years, Education and Agriculture courses have generally recorded lower admission demand and cut-off marks compared to highly competitive programmes such as Medicine, Law, and Engineering.

The latest move is therefore being viewed by stakeholders as part of broader efforts to encourage enrolment into critical sectors linked to teaching, food security, and national development.

Earlier reports had indicated that JAMB was expected to decide the 2026 UTME cut-off marks during Monday’s policy meeting.

THE ISSUES

Nigeria’s education sector has long faced concerns over declining interest in teaching-related programmes and shortages of qualified educators across different levels of the educational system.

Similarly, stakeholders in the agricultural sector have repeatedly raised concerns about low youth participation in agriculture-related courses despite growing national attention on food security and agricultural development.

Experts say the high-pressure nature of the UTME process and intense competition for admission into tertiary institutions have discouraged many prospective candidates from pursuing less competitive but nationally important disciplines.

There are also concerns about how institutions will implement the exemption policy and maintain admission standards without the UTME as a uniform assessment mechanism.

What’s being said

Education stakeholders say the policy could help increase enrolment into Education and Agriculture programmes, especially in public institutions struggling with low student intake in those fields.

Some analysts believe the decision may also reduce barriers to higher education for candidates interested in sectors considered critical to Nigeria’s long-term socio-economic development.

However, others have called for clearer implementation guidelines to prevent confusion among candidates and ensure transparency in the admission process.

What’s next

JAMB is expected to provide further clarification on the modalities for admission into the affected programmes, including the alternative requirements institutions may adopt.

The board is also anticipated to announce the official 2026 UTME cut-off marks following the conclusion of its policy meeting.

Universities, colleges of education, and other tertiary institutions may subsequently adjust their admission procedures to align with the new policy direction.

Bottom line

JAMB’s decision to exempt candidates seeking admission into Education and Agriculture-related non-engineering courses from the UTME represents a major policy shift in Nigeria’s tertiary admission system. While the move is expected to boost enrolment in critical sectors, stakeholders say its success will depend on transparent implementation and effective coordination between the examination body and tertiary institutions.

NiMet forecasts three days of sunshine, rainfall across Nigeria

Same rodent, different danger: How lassa fever and hantavirus differ

By
Emmanuel Ogbonnaya
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Both diseases trace their origins to rodents — but they diverge sharply on biology, transmission, geography, and epidemic potential. The distinction matters for public health, clinical triage, and outbreak communication.

The Big Picture

Lassa fever and hantavirus disease share one epidemiological surface: both are contracted through contact with infected rodents. That similarity has generated real public confusion, particularly during outbreak alerts in Nigeria. But the two diseases are caused by unrelated viruses, carried by different rodent species, concentrated in different geographies, and dangerous in fundamentally different ways. Understanding those differences shapes how health workers triage patients, how communicators frame risk, and how policymakers allocate response resources.

Why It Matters

Nigeria records Lassa fever cases virtually every year, with outbreaks concentrated in Edo, Ondo, and Bauchi states. The NCDC tracks it as a priority disease. Hantavirus has no documented endemic transmission in Nigeria — but as global awareness of zoonotic diseases rises, the risk of public conflation grows. The consequences are practical: clinicians who mistake one for the other risk misapplying scarce treatment resources; communicators who blur the two undermine the specific behavioural changes that reduce transmission risk for each.

What you need to know

The pathogens: Lassa fever is caused by the Lassa virus, a member of the Arenaviridae family. Hantavirus disease is caused by a separate genus within the Hantaviridae family, with multiple distinct strains — Sin Nombre in North America, Seoul virus worldwide, Puumala in Europe, and Andes in South America. They are not related viruses. Both happen to use rodents as their host, but that is a coincidence of ecology, not shared ancestry.

The rodent reservoir: Lassa virus is carried almost exclusively by the multimammate rat (Mastomys natalensis), a prolific West African species that contaminates food stores and tolerates human habitation. Hantaviruses are carried by a broader range of rodents depending on strain and geography. In both cases, the infected rodent remains asymptomatic while shedding the virus chronically.

How transmission actually works: Both viruses enter humans primarily through exposure to infected rodent excreta — urine, faeces, or saliva. Beyond that, the transmission profiles diverge sharply. Lassa fever can spread person to person through direct contact with blood or bodily fluids of an infected patient. This is what makes Lassa capable of spreading inside hospitals — a single admitted patient can seed infections among health workers and other patients if protective protocols are not strictly observed.

Hantavirus, with one significant exception, does not transmit between humans. The exception is the Andes strain and it is precisely this strain that CDC and WHO have confirmed is responsible for the ongoing outbreak aboard the MV Hondius, a Dutch-flagged cruise ship that departed Argentina on 1 April 2026. As of early May, seven cases had been identified, including three deaths, with illness characterised by rapid progression to pneumonia and acute respiratory distress.

WHO has assessed the broader public health risk as low, but the outbreak illustrates why the Andes strain warrants separate treatment: its capacity for human-to-human transmission, though limited to close contact, fundamentally changes its containment profile.

Dr. Ore Ajayi, a Lagos-based general practitioner, notes that environmental conditions are a primary risk factor for both diseases, since rodent access to living spaces, food stores, and water sources creates the exposure opportunity in either case. He advises consistent environmental cleanliness as the most direct upstream intervention, alongside maintaining personal hygiene and keeping food, especially leftovers — well covered or refrigerated to prevent rodent contamination.

Clinical presentation: Lassa fever begins with nonspecific symptoms — fever, malaise, headache and may progress to haemorrhagic manifestations and multi-organ failure. A distinctive complication is sensorineural deafness, which can persist after recovery. Hantavirus attacks differently by strain: Old World strains cause kidney damage and capillary leakage; New World strains like Sin Nombre cause Hantavirus Pulmonary Syndrome, with rapid-onset respiratory failure and a case fatality rate of approximately 35–40%.

Treatment: Lassa fever has a specific antiviral — ribavirin — most effective when administered early. No licensed vaccine exists. Hantavirus has no approved antiviral therapy; management is entirely supportive. No widely available vaccine exists outside limited formulations for renal syndrome in China and Korea.

The bottom line

Lassa fever and hantavirus share a rodent origin and an excreta-based transmission pathway and little else. Lassa’s person-to-person transmission makes it a healthcare system risk and a proven epidemic amplifier; hantavirus’s near-total inability to spread between humans limits its outbreak footprint, even as its pulmonary case fatality rate is severe. The MV Hondius outbreak is a timely reminder that hantavirus biology is not fully static, but for clinicians, communicators, and policymakers in Nigeria, the two diseases demand distinct responses, and treating them as equivalent actively distorts both risk assessment and prevention messaging.

Tinubu arrives in Nairobi for Africa Forward Summit

By
Kehinde Victor
-

Keypoints

  • President Bola Tinubu arrived at Jomo Kenyatta International Airport, Nairobi, at 12:18 a.m. on Monday.
  • The President is in Kenya to attend the Africa Forward Summit (also referred to as the Africa-France Summit).
  • The event is co-hosted by Kenyan President William Ruto and French President Emmanuel Macron.
  • Discussions will focus on economic transformation, digital innovation, trade expansion, and climate resilience.
  • Tinubu is accompanied by a high-level delegation, including Foreign Affairs Minister Bianca Ojukwu and other cabinet members.

Main Story

President Bola Tinubu reached Nairobi early Monday morning to join other African leaders for the Africa Forward Summit.

According to a statement by Presidential Spokesperson Bayo Onanuga, the President was received by Kenya’s Cabinet Secretary for Foreign and Diaspora Affairs, Musalia Mudavadi, alongside other senior officials and members of the Nigerian diplomatic mission.

The summit serves as a platform for African leaders, investors, and development partners to discuss growth and strategic partnerships across the continent.

Co-hosted by Presidents William Ruto of Kenya and Emmanuel Macron of France, the summit seeks to address infrastructure development and climate resilience.

Nigeria’s participation is intended to strengthen regional economic cooperation and reinforce the country’s leadership role within Africa.

During the visit, President Tinubu is expected to engage in bilateral meetings to advance diplomatic relations and promote the administration’s Renewed Hope Agenda through international investment and trade partnerships.

The Issues

  • The summit aims to balance African-driven solutions with international partnerships, specifically through the involvement of France as a co-host.
  • A major focus remains on climate resilience and infrastructure, areas where many African nations currently face significant funding gaps.
  • Strengthening intra-African trade and digital innovation is viewed as essential for achieving the long-term prosperity discussed at the summit.

What’s Being Said

  • Presidential spokesperson Bayo Onanuga noted that the visit underscores Nigeria’s “commitment to advancing African unity” and regional economic cooperation.
  • Officials stated the summit provides “practical strategies designed to promote collective prosperity” across the continent.
  • Diplomatic observers highlighted that the presence of several key ministers indicates a focus on specific sectors like trade, agriculture, and the blue economy.

What’s Next

  • President Tinubu will participate in high-level plenary sessions alongside Presidents Ruto and Macron.
  • Bilateral meetings are scheduled between the Nigerian delegation and various African and international partners.
  • The summit is expected to conclude with a series of commitments focused on digital innovation and sustainable infrastructure projects.

Bottom Line

President Tinubu’s visit to Nairobi signals Nigeria’s intent to remain a central player in shaping continental investment policy and fostering economic ties between Africa and global partners like France.

NiMet forecasts three days of sunshine, rainfall across Nigeria

NiMet forecasts three days of sunshine, rainfall across Nigeria

By
Ibe Wada
-

KEY POINTS

  • The Nigerian Meteorological Agency has forecast a mix of sunshine, cloudy conditions, and rainfall across the country from Monday to Wednesday.
  • Thunderstorms accompanied by moderate rains are expected in several southern and central states, while parts of the North will experience isolated rainfall.
  • NiMet has warned residents to take precautions against strong winds, heavy rainfall, and heat-related discomfort during the forecast period.

MAIN STORY

The Nigerian Meteorological Agency (NiMet) has predicted a combination of rainfall, thunderstorms, and sunshine across different parts of the country from Monday through Wednesday.

In its weather outlook released in Abuja on Sunday, the agency forecast predominantly sunny skies across the northern region on Monday, with a few patches of clouds expected over most areas.

NiMet stated that isolated thunderstorms accompanied by light to moderate rainfall are likely to occur over parts of Taraba State during the afternoon and evening hours.

For the North-Central region, the agency projected cloudy conditions with intervals of sunshine throughout the forecast period.

In the southern region, NiMet predicted cloudy skies with intermittent sunshine and chances of thunderstorms accompanied by light rains over parts of Rivers State, Bayelsa State, Akwa Ibom State, and Cross River State.

The agency further forecast moderate rainfall and thunderstorms later in the day across parts of Oyo State, Osun State, Ondo State, Lagos State, Edo State, Delta State, Imo State, Abia State, Ebonyi State, Anambra State, Bayelsa State, Rivers State, Cross River State, and Akwa Ibom State.

On Tuesday, NiMet projected sunny conditions with patches of clouds across the northern states, while isolated thunderstorms with light to moderate rainfall are expected again over parts of Taraba State later in the day.

The agency also forecast cloudy conditions with intervals of sunshine across the North-Central region throughout Tuesday.

In the South, thunderstorms accompanied by moderate rainfall are expected during the afternoon or evening over parts of Ondo State, Osun State, Ogun State, Lagos State, Imo State, Abia State, Enugu State, Ebonyi State, Anambra State, Cross River State, Akwa Ibom State, Rivers State, Bayelsa State, Edo State, and Delta State.

By Wednesday, the agency expects sunny skies with patches of clouds across the northern region, while the North-Central zone will continue to experience cloudy conditions with periods of sunshine.

NiMet also predicted moderate rainfall and thunderstorms over parts of Delta State, Edo State, Bayelsa State, Cross River State, Akwa Ibom State, and Rivers State later in the day.

The agency warned that strong winds could precede rainfall and thunderstorms in some areas and advised residents to take safety precautions.

“Strong winds may precede the rains in areas where thunderstorms are likely to occur. The public should ensure that loose objects are properly secured to avoid collisions and accidents,” the agency stated.

NiMet also cautioned motorists against driving during heavy rainfall and advised residents to disconnect electrical appliances during thunderstorms and avoid sheltering under tall trees due to the risk of falling branches.

The agency urged airline operators to obtain airport-specific weather reports for effective operational planning.

In addition, NiMet warned that temperatures are expected to remain high in several parts of the country, resulting in thermal discomfort. Residents were advised to stay hydrated, wear breathable clothing, and remain in well-ventilated environments.

The agency encouraged the public to stay updated through regular weather reports on its official website, NiMet.

THE ISSUES

Nigeria continues to experience increasingly unpredictable weather patterns linked to seasonal transitions and climate variability, with heavy rainfall and thunderstorms often resulting in flooding, traffic disruptions, and damage to infrastructure.

Experts say inadequate drainage systems, poor urban planning, and weak disaster preparedness mechanisms continue to worsen the impact of heavy rainfall in many communities.

At the same time, rising temperatures and heat conditions in parts of the country pose health risks, particularly for vulnerable populations including children, the elderly, and outdoor workers.

WHAT’S BEING SAID

The Nigerian Meteorological Agency says the weather outlook is intended to help residents, aviation operators, farmers, and emergency agencies prepare adequately for changing weather conditions.

Environmental experts have also stressed the importance of public awareness and early warning systems in reducing weather-related risks and disasters.

Residents in flood-prone communities are being urged to remain vigilant as the rainy season intensifies across several parts of the country.

WHAT’S NEXT

NiMet is expected to continue issuing regular weather forecasts and advisories as rainfall activity increases nationwide.

Emergency response agencies and state governments may also intensify monitoring and preparedness efforts in flood-prone and high-risk communities.

Meteorologists say more thunderstorms and rainfall activities are likely in the coming weeks as Nigeria progresses deeper into the rainy season.

BOTTOM LINE

NiMet’s three-day weather forecast indicates a mix of sunshine, thunderstorms, and rainfall across Nigeria, with southern states expected to experience more intense weather activity. Authorities are urging residents to take precautionary measures against strong winds, heavy rainfall, and rising temperatures as seasonal weather conditions continue to evolve.

Customs hands over stolen luxury vehicles recovered at Tin Can Port to Canada

Customs hands over stolen luxury vehicles recovered at Tin Can Port to Canada

By
Ibe Wada
-

Key points

  • The Nigeria Customs Service has handed over several stolen luxury vehicles traced to Canada to Canadian authorities.
  • The recovery followed months of intelligence sharing between the NCS and the Royal Canadian Mounted Police.
  • The intercepted vehicles included high-end brands such as Lamborghini, Rolls-Royce, Mercedes-Benz, Lexus, and Land Rover.

Main story

The Nigeria Customs Service (NCS) has formally handed over a number of intercepted stolen luxury vehicles traced to Canada to the Deputy High Commissioner of Canada to Nigeria, Nasser Salihou.

The handover ceremony took place at the Tin Can Island Port and was conducted by the Customs Area Controller of the command, Frank Onyeka.

In a statement issued in Abuja, the National Public Relations Officer of the NCS, Abdullahi Maiwada, said the recovery formed part of ongoing efforts to strengthen international confidence in Nigeria’s anti-smuggling and cargo intelligence systems.

According to Maiwada, the operation followed months of intelligence sharing and collaboration between the NCS and the Royal Canadian Mounted Police after Canadian authorities traced several stolen luxury vehicles believed to have been illegally exported and smuggled into Nigeria through international shipping channels.

He disclosed that internal Customs documentation dated May 5 confirmed the interception of several high-end vehicles, including a 2019 Lexus RX350, 2019 Mercedes-Benz G550, 2023 Land Rover Range Rover, 2019 Lamborghini Huracán, 2021 Rolls-Royce Dawn Convertible, 2018 Lamborghini Aventador, and a 2026 Toyota Tundra.

The Customs spokesperson stated that all the vehicles were confirmed to have been stolen and illegally exported before being traced to Nigeria.

Speaking during the handover ceremony, Onyeka revealed that one of the vehicles, a Toyota Tacoma, was concealed inside a container transporting other vehicles and had not exited Customs control before intelligence received from Canadian authorities triggered immediate intervention.

He explained that once the intelligence alert and shipping documentation were received through official channels, officers of the command swiftly isolated the suspicious consignment and placed the vehicle under enforcement custody pending diplomatic verification.

“What appeared to be a routine cargo movement quickly evolved into an international criminal investigation. Once intelligence reached us, we placed the consignment under enforcement watch and secured the vehicle pending confirmation from Canadian authorities,” Onyeka said.

He added that the service deliberately delayed the final release of the vehicles until Canadian officials arrived personally to complete identification and recovery procedures.

“We had individuals attempting to intervene on behalf of others, but this case was highly sensitive. We insisted the handover must be directly to the Canadian government to preserve the integrity of the process,” he stated.

According to Onyeka, the successful interception highlights the NCS’ commitment to dismantling transnational vehicle theft syndicates that exploit global shipping routes to traffic stolen vehicles across continents.

He noted that the operation further demonstrated the growing cooperation between Nigeria and Canada in intelligence sharing, cargo profiling, and maritime enforcement aimed at combating organised cross-border crimes involving stolen assets, illicit trade, and related fraudulent activities.

The issues

The interception of stolen luxury vehicles underscores the increasing sophistication of international vehicle theft syndicates and the role of global shipping networks in facilitating transnational organised crime.

Experts say Nigeria’s ports remain vulnerable to smuggling activities due to high cargo volumes, document falsification, and the complex nature of international trade logistics.

The incident also raises broader concerns about the activities of criminal networks involved in illegal automobile trafficking, money laundering, and customs fraud across international borders.

What’s being said

The Nigeria Customs Service says the successful operation reflects the agency’s improved intelligence capabilities and commitment to international collaboration in combating transnational crimes.

Canadian authorities have also commended the cooperation between both countries, describing the recovery as a significant step in strengthening cross-border law enforcement partnerships.

Security and maritime experts believe sustained intelligence sharing and stricter cargo profiling will be critical to curbing international smuggling and stolen vehicle trafficking through African ports.

What’s next

Authorities are expected to intensify intelligence-driven cargo inspections and strengthen collaboration between Nigerian and international law enforcement agencies.

The NCS is also likely to expand the deployment of cargo profiling systems and enforcement monitoring at major ports to detect suspicious consignments earlier.

Further investigations may also be conducted to identify individuals or syndicates linked to the smuggling of the stolen vehicles into Nigeria.

Bottom line

The handover of intercepted stolen luxury vehicles to Canadian authorities marks another milestone in Nigeria’s fight against transnational smuggling and organised crime. The operation highlights the growing importance of international intelligence sharing and maritime enforcement in tackling global vehicle theft syndicates and strengthening port security.

Over 3,700 primary healthcare centres inactive across 19 States, FCT

Over 3,700 primary healthcare centres inactive across 19 States, FCT

By
Ibe Wada
-

Key points

  • At least 3,715 Primary Healthcare Centres (PHCs) across 19 states and the Federal Capital Territory are currently non-operational.
  • Katsina State recorded the highest number of inactive PHCs with 349 facilities, followed by Osun State with 326.
  • Health experts warn that the collapse of primary healthcare services threatens disease prevention, maternal care, immunisation, and emergency response systems nationwide.

Main story

Nigeria’s fragile healthcare system has come under renewed scrutiny following revelations that no fewer than 3,715 Primary Healthcare Centres (PHCs) across 19 states and the Federal Capital Territory are currently non-operational, raising concerns over access to essential healthcare services for millions of citizens.

Findings from an analysis of the PHC Indicator Dashboard of the National Primary Health Care Development Agency (NPHCDA) revealed widespread inactivity among facilities expected to serve as the foundation of healthcare delivery, particularly in rural and underserved communities.

The figures underscore growing concerns about the state of Nigeria’s primary healthcare system, widely regarded by health experts as the backbone of disease prevention, maternal and child healthcare, immunisation, and emergency medical response.

According to the data, Katsina State recorded the highest number of inactive PHCs with 349 dormant facilities, while Osun State followed closely with 326.

Other states with significant numbers of non-functional PHCs include Kano State with 279; Enugu State with 268; Benue State with 265; and Delta State with 246.

The analysis also showed that Kogi State recorded 230 inactive facilities, while Ogun State had 227 and Adamawa State recorded 225.

Further findings revealed that Bauchi State had 212 inactive PHCs, Rivers State recorded 205, while Ondo State had 198.

In addition, Cross River State recorded 172 non-operational facilities, while Yobe State had 161.

The report further showed that Edo State recorded 146 inactive PHCs, while Borno State had 120. Nasarawa State recorded 115 inactive centres, Bayelsa State had 100, while the Federal Capital Territory accounted for 62 dormant facilities.

Primary Healthcare Centres represent the first point of contact for millions of Nigerians seeking medical attention, especially in rural communities where access to secondary and tertiary healthcare facilities remains limited.

The centres are expected to provide essential services including antenatal and postnatal care, child immunisation, malaria treatment, tuberculosis screening, family planning, nutrition support, treatment of common illnesses, disease surveillance, and health education.

PHCs also play a critical role in Nigeria’s response to public health emergencies and infectious disease outbreaks. During outbreaks of cholera, measles, meningitis, and COVID-19, the centres served as frontline facilities for vaccination campaigns, community sensitisation, and patient referrals.

However, Nigeria’s PHC system has struggled for decades with chronic underfunding, inadequate infrastructure, shortages of skilled health workers, and poor maintenance culture.

Previous reports by health sector stakeholders have identified abandoned projects, lack of medical equipment, irregular electricity supply, poor water access, and deteriorating road networks as recurring challenges affecting healthcare centres nationwide.

In many rural communities, some PHCs reportedly exist only in name, with buildings either abandoned, partially completed, or operating without qualified personnel and essential medicines.

Insecurity has also worsened the situation in parts of Northern Nigeria. In insurgency-affected states such as Borno State, Yobe State, and parts of Adamawa State, attacks on communities and displacement of healthcare workers have disrupted medical services over the years.

Environmental challenges have equally affected healthcare delivery in riverine states such as Bayelsa State and Rivers State, where flooding and difficult terrain often hinder access to health infrastructure.

The Federal Government, through the National Primary Health Care Development Agency, has introduced several interventions aimed at revitalising primary healthcare delivery across the country.

These include the Basic Health Care Provision Fund designed to improve financing for grassroots healthcare services, as well as the policy initiative aimed at ensuring at least one functional PHC in every political ward nationwide.

Authorities have also implemented periodic renovation and upgrade programmes targeting selected PHCs across the country.

The issues

The growing number of inactive PHCs highlights the deep structural weaknesses within Nigeria’s healthcare system, particularly at the grassroots level where millions depend on public healthcare facilities for survival.

Health experts warn that the collapse of primary healthcare services could worsen maternal and child mortality rates, reduce immunisation coverage, weaken disease surveillance, and increase vulnerability during public health emergencies.

Stakeholders also argue that poor implementation, delayed release of funds, weak accountability mechanisms, and inadequate monitoring continue to undermine government interventions aimed at revitalising the sector.

What’s being said

Healthcare stakeholders say the current situation reflects years of neglect and inadequate investment in primary healthcare infrastructure.

Experts have repeatedly stressed that strengthening PHCs is essential to achieving universal health coverage, improving health outcomes, and reducing pressure on overcrowded secondary and tertiary hospitals.

Community advocates are also calling for urgent rehabilitation of dormant facilities, recruitment of qualified health workers, and improved funding mechanisms to restore public confidence in the healthcare system.

What’s next

The Federal Government and relevant health agencies are expected to intensify efforts toward the revitalisation of inactive PHCs through infrastructure upgrades, improved staffing, and better funding allocation.

Stakeholders are also likely to push for stricter monitoring and accountability measures to ensure healthcare intervention funds are effectively utilised.

Health experts believe that restoring functionality to dormant PHCs will be critical to improving healthcare access, particularly in rural and conflict-affected communities.

Bottom line

The discovery that over 3,700 Primary Healthcare Centres are inactive across Nigeria underscores the severe challenges confronting the country’s healthcare system. While government interventions continue, experts warn that without sustained funding, accountability, and infrastructure investment, millions of Nigerians may remain without access to essential healthcare services.

TCN begins second phase of compensation for Kaduna-Kano 330kV transmission line project

Barcelona clinch 29th La Liga title after El Clasico victory over Real Madrid

By
Boluwatife Oshadiya
-
Barcelona's team celebrates winning the 2025-2026 Spanish League after the Spanish league football match between FC Barcelona and Real Madrid CF at Camp Nou Stadium in Barcelona on May 10, 2026. (Photo by Josep LAGO / AFP)

By Boluwatife Oshadiya

Key Points

  • Barcelona defeated Real Madrid 2-0 to secure the 2025-26 La Liga title.
  • Marcus Rashford and Ferran Torres scored in the opening half.
  • The victory moved Barcelona 14 points clear with three games remaining.
  • Real Madrid will finish the season without a major trophy.
  • Barcelona won the league title in front of home supporters at Camp Nou.

Main Story

Barcelona sealed their 29th Spanish league title after defeating fierce rivals Real Madrid 2-0 in Sunday’s El Clasico at Camp Nou. Goals from Marcus Rashford and Ferran Torres in the first half ensured Hansi Flick’s side retained the La Liga crown and completed another successful domestic campaign.

The victory moved Barcelona 14 points clear of second-placed Real Madrid with only three matches left in the season, making it mathematically impossible for Los Blancos to catch them.

It was a historic evening for the Catalan club, as the title was decided directly through the result of a Clasico for only the second time in La Liga history.

Barcelona entered the match needing only to avoid defeat but instead dominated large spells of the encounter in front of a packed Camp Nou crowd celebrating the return of league football to the renovated stadium.

Rashford, currently on loan from Manchester United, opened the scoring with a superb free-kick from outside the penalty area after being selected ahead of injured youngster Lamine Yamal. Torres doubled Barcelona’s advantage shortly after, finishing confidently following a clever backheel assist from Dani Olmo.

Real Madrid struggled to recover despite creating several opportunities through Gonzalo Garcia, Vinicius Junior and Jude Bellingham, whose second-half effort was ruled out for offside.

Madrid also entered the game amid off-field concerns after midfielder Federico Valverde reportedly suffered a head injury following a training-ground altercation involving teammate Aurelien Tchouameni.

Barcelona coach Hansi Flick took charge of the team despite reports that his father passed away before the fixture. The title triumph offers some consolation after Barcelona’s Champions League quarter-final exit against Atletico Madrid earlier in the season.

Meanwhile, Real Madrid are expected to begin a major squad and managerial review after ending a second consecutive campaign without silverware. Former Madrid manager Jose Mourinho has already been linked with a possible return to the Santiago Bernabeu ahead of next season.

What’s Being Said

“This title is special because we won it against Madrid at home with our fans,” Barcelona midfielder Frenkie de Jong said after the match.

“We have been the best team in Spain this season. Of course, we wanted the Champions League too, but next season we will try again.”

Reports in Spain also suggest Barcelona are aiming to finish the season with a record-equalling 100 points if they win their remaining fixtures.

What’s Next

Barcelona will now focus on finishing the season strongly and preparing for another push in Europe next campaign. Real Madrid are expected to assess their squad and coaching structure during the summer transfer window after a disappointing season. The club’s remaining matches could also determine the futures of several senior players and coaching staff.

Bottom Line

Barcelona once again demonstrated their domestic dominance with a decisive Clasico victory that secured the La Liga title. While the Catalans celebrate another championship, Real Madrid face mounting pressure to rebuild ahead of next season.

Industry growth slowed by contracting delays, warns WIAFRI Executive

Dangote Cement becomes NGX’s most valuable company at ₦18.4tn

By
Boluwatife Oshadiya
-
Dangote Cement Plc Completes Issuance Of ₦116b Bonds

By Boluwatife Oshadiya | May 11, 2026

Key Points

  • Dangote Cement’s market capitalisation rose to ₦18.358 trillion after its shares hit a record high
  • The cement company overtook MTN Nigeria and BUA Foods as the NGX’s most valuable listed firm
  • Strong Q1 2026 earnings and investor demand drove the rally in the stock

Main Story

Dangote Cement Plc has emerged as the most valuable listed company on the Nigerian Exchange (NGX) after its market capitalisation climbed to ₦18.358 trillion at the close of trading on Friday.

The development followed a sharp rally in the company’s share price, which rose by 12.16% over the last five trading sessions to an all-time high of ₦1,088 per share.

Trading data from the NGX showed that investors exchanged 5.46 million shares valued at ₦5.903 billion during Friday’s session as bargain hunters intensified buying activity in the stock.

The surge in Dangote Cement’s valuation pushed it ahead of MTN Nigeria and BUA Foods, both of which had previously overtaken the cement manufacturer in market capitalisation rankings since 2025.

MTN Nigeria’s market value declined sharply to ₦16.819 trillion amid investor concerns over the threat of licence revocation by lawmakers, while BUA Foods closed relatively flat at ₦17.406 trillion.

Dangote Cement’s strong rally comes amid improved investor sentiment following the release of its first-quarter 2026 financial results, which showed significant growth across major earnings indicators.

The company reported revenue of ₦1.198 trillion for the first quarter ended March 31, 2026, representing a 20.45% increase from ₦994.7 billion recorded during the same period in 2025.

Profit after tax surged by 53.46% to ₦321.1 billion, while earnings per share rose to ₦19.14 from ₦12.29 in the corresponding period of the previous year.

Analysts said disciplined cost management and operational efficiency contributed significantly to the company’s improved profitability despite prevailing macroeconomic challenges. Corporate filings also showed that Dangote Industries Limited controls 86.65% of Dangote Cement, while Stanbic Nominees holds 5.48%.

The Issues

The latest surge in Dangote Cement’s valuation highlights renewed investor appetite for fundamentally strong industrial stocks amid ongoing volatility across Nigeria’s broader equities market.

Market analysts say investors are increasingly rewarding companies with strong earnings resilience, pricing power, and effective cost management capabilities in a high-inflation environment.

The sharp decline in MTN Nigeria’s market value also reflects growing market sensitivity to regulatory risks, particularly for companies operating in highly regulated sectors such as telecommunications.

The development further underscores the growing influence of industrial and manufacturing stocks on the Nigerian equities market as investors seek protection against inflation and currency depreciation.

What’s Being Said

“The company’s revenue growth was achieved with disciplined cost control,” Cowry Asset Management Limited said in its earnings note on Dangote Cement.

“Profitability expansion reflects strong operational leverage and resilient demand fundamentals in the cement business,” the investment firm added.

Independent market analyst Taiwo Bello said the market is currently rewarding companies with strong earnings visibility and stable balance sheets.

“Investors are moving aggressively into stocks that can preserve value and sustain earnings growth despite economic uncertainty,” Bello said.

What’s Next

  • Investors are expected to monitor Dangote Cement’s subsequent quarterly earnings performance and dividend outlook
  • Market attention will remain on regulatory developments affecting MTN Nigeria and other major listed firms
  • Analysts expect continued interest in industrial and infrastructure-related stocks as portfolio diversification increases

The Bottom Line: Dangote Cement’s rise to the top of the NGX valuation rankings reflects how strongly investors are prioritising earnings strength, operational efficiency, and defensive industrial plays in Nigeria’s uncertain macroeconomic environment.

AI-driven cyber attacks on the rise in Nigeria, expert warns

Dollar To Naira Exchange Rate Today, May 11th, 2026

By
Boluwatife Oshadiya
-
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 1366 per $1 on Monday, May 11th, 2026. The naira traded as high as 1355 to the dollar at the investors and exporters (I&E) window on Sunday. 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):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1395 and buy at ₦1385 on Sunday 10th May, 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₦1395
Buying Rate₦1385

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)CBN Rate Today
Highest Rate₦1366
Lowest Rate₦1355

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

TCN begins second phase of compensation for Kaduna-Kano 330kV transmission line project

TCN begins second phase of compensation for Kaduna-Kano 330kV transmission line project

By
Ibe Wada
-
TCN To Reconnect 2 Discos On May 1

Key points

  • The Transmission Company of Nigeria has commenced the second phase of compensation for persons affected by the 330kV Mando–Rimin Zakara transmission line project.
  • More than 2,000 claimants were screened and verified for payment during the exercise in Shika, Zaria.
  • The project, supported by the Federal Government and the African Development Bank, is expected to strengthen power supply across Kaduna, Zaria, and Kano industrial corridors.

Main story

The Transmission Company of Nigeria (TCN) has commenced the second phase of compensation for Project Affected Persons (PAPs) impacted by the 330kV Double Circuit QUAD Conductor Mando–Rimin Zakara Transmission Line Project in Kaduna State.

The exercise, which began in Shika, Zaria, involves the screening and verification of over 2,000 claimants before compensation payments are made.

TCN’s General Manager, Public Affairs, Ndidi Mbah, disclosed that affected persons were required to present original documents for authentication as part of the verification process.

According to her, the exercise is aimed at ensuring that only legitimate beneficiaries are compensated in line with the company’s commitment to transparency, accountability, and due process.

Mbah explained that the clearing of the Right of Way (RoW) remains a critical requirement before the commencement of transmission infrastructure projects.

“In line with its standard operational procedures, TCN prioritises the clearing of the Right of Way before the commencement of any transmission project. This step ensures safety, protects infrastructure integrity, and enables seamless project execution,” she said.

The Project Manager, Omobola Sobo, revealed that approximately 5,500 Project Affected Persons had been identified along the Mando–Rimin Zakara transmission corridor, with the current phase covering about 2,000 beneficiaries.

She commended district heads and community leaders for supporting sensitisation efforts and encouraging residents to cooperate with the compensation process and project implementation.

Sobo also acknowledged the support of TCN Managing Director, Sule Abdulaziz, as well as the African Development Bank, toward the successful execution of the project.

Speaking during the exercise, the District Head of Rigasa, Muhammed Idris, said although it may be difficult to achieve complete satisfaction among all affected persons, TCN had maintained transparency and sustained engagement with community leaders throughout the process.

He expressed optimism that the transmission project would improve electricity supply and stimulate socio-economic growth across affected communities in Kaduna and neighbouring states.

Some beneficiaries also commended the company for what they described as a transparent compensation process.

One of the beneficiaries, Lawal Abubakar, appreciated TCN for the initiative and pledged continued support and cooperation from the host communities.

The transmission line project will extend from the Mando Transmission Substation to the Rimin Zakara Transmission Substation, with a Turn-In Turn-Out (TITO) connection at the new 2×150 Megavolt Ampere (MVA) 330/132/33kV substation in Jaja, Zaria.

The project is being funded with support from the Federal Government and the African Development Bank as part of broader efforts to strengthen electricity transmission infrastructure in Northern Nigeria.

The issues

Nigeria’s power sector continues to face challenges linked to inadequate transmission infrastructure, frequent grid constraints, and limited electricity distribution capacity.

Large-scale transmission projects such as the Mando–Rimin Zakara line are critical to improving power evacuation, stabilising supply, and supporting industrial growth in major commercial and manufacturing corridors across Northern Nigeria.

However, compensation for affected communities and the proper management of Right of Way disputes remain sensitive issues that can delay infrastructure projects if not handled transparently.

What’s being said

TCN officials say the compensation process demonstrates the company’s commitment to fairness, transparency, and community engagement during project implementation.

Community leaders and beneficiaries have also praised the company for involving local stakeholders and maintaining open communication throughout the exercise.

Stakeholders believe the project will significantly improve electricity transmission capacity and support economic activities across Kaduna, Zaria, and Kano.

What’s next

The second phase of compensation and verification is expected to continue across affected communities along the transmission corridor.

Following the completion of compensation and right-of-way clearance, construction and reinforcement activities on the transmission line project are expected to accelerate.

Authorities also anticipate that the project will strengthen grid stability and improve power supply to critical industrial and residential areas in Northern Nigeria.

Bottom line

The commencement of the second phase of compensation for affected communities marks another milestone in the implementation of the Mando–Rimin Zakara transmission project. With improved stakeholder engagement and infrastructure investment, the project is expected to boost electricity transmission capacity and support economic development across Northern Nigeria.

Nigeria’s port sector records double-digit growth in cargo, vessel traffic in Q1 2026

Nigeria’s port sector records double-digit growth in cargo, vessel traffic in Q1 2026

By
Ibe Wada
-

Key points

  • Nigeria’s ports recorded an 11.6% increase in cargo throughput in Q1 2026, reaching 32.38 million metric tonnes.
  • Vessel traffic surged as Gross Registered Tonnage rose by 19.5% to 46.75 million, driven by larger ships and increased regional trade.
  • The Federal Government says ongoing port modernisation, digitalisation, and infrastructure upgrades are positioning Nigeria as a leading maritime hub in Africa.

Main story

Nigeria’s maritime sector posted significant growth in the first quarter of 2026, with increased cargo throughput, higher vessel traffic, and expanding regional trade activities strengthening confidence in the nation’s port system.

The Managing Director of the Nigerian Ports Authority (NPA), Abubakar Dantsoho, disclosed this in a statement issued in Lagos by the NPA General Manager, Corporate Communications and Strategy, Mr Ikechukwu Onyemekara.

According to Dantsoho, ocean-going vessel Gross Registered Tonnage (GRT) rose by 19.5 per cent to 46.75 million in the first quarter of 2026, reflecting improved cargo handling efficiency and increased confidence among international shipping lines operating in Nigerian ports.

He attributed the rise largely to the deployment of larger vessels linked to activities at the Lekki Deep Sea Port and the growing impact of regional trade under the African Continental Free Trade Area framework.

Dantsoho further revealed that total cargo throughput increased by 11.6 per cent year-on-year to 32.38 million metric tonnes during the period under review.

He said outward cargo volumes grew by 23.7 per cent to 14.13 million tonnes, while outward laden containers rose sharply by 67.6 per cent to 102,803 Twenty-foot Equivalent Units (TEUs).

Vehicle traffic through the ports also increased by 67 per cent to 58,870 units, while transshipment containers climbed by 83.1 per cent, highlighting Nigeria’s expanding role in regional maritime logistics and trade distribution.

“Ports must evolve beyond old limits. Efficiency, speed and reliability will determine who leads African trade,” Dantsoho stated.

He noted that reforms being implemented under the administration of President Bola Ahmed Tinubu are focused on infrastructure renewal, digital transformation, and institutional restructuring aimed at repositioning Nigeria as a dominant maritime hub on the continent.

The NPA boss disclosed that the proposed one billion dollar rehabilitation of the Lagos Port Complex and Tin Can Island Port had commenced following the approval of a Memorandum of Understanding for the projects.

Also speaking, the Minister of Marine and Blue Economy, Adegboyega Oyetola, said procurement processes were ongoing for the upgrade of ports in Warri, Port Harcourt, Onne, and Calabar to ensure balanced infrastructural development across the country’s maritime corridor.

Oyetola explained that the implementation of the Port Community System and the National Single Window project would reduce operational delays, lower logistics costs, and improve transparency within the port system.

He added that investments in rail connectivity, inland dry ports, barging operations, and export corridors were designed to ease congestion and improve cargo evacuation nationwide.

The NPA also noted that Nigeria had sustained over four years without piracy incidents under the Federal Government’s Deep Blue maritime security initiative.

Despite the improvements, Dantsoho observed that Nigeria currently handles only 25 per cent of West Africa’s cargo traffic, even though the country accounts for nearly 60 per cent of the region’s Gross Domestic Product (GDP).

“With sustained commitment, Nigeria’s port system will emerge as Africa’s leading maritime logistics hub,” he said.

The issues

Nigeria’s port sector continues to grapple with infrastructure deficits, congestion, and operational inefficiencies that have historically limited its competitiveness within West Africa.

Although recent reforms and investments are beginning to yield results, experts say sustained modernisation, improved connectivity, and efficient digital systems will be critical to attracting more cargo traffic and maximising the country’s maritime potential.

The relatively low share of West African cargo handled by Nigeria also underscores concerns about competitiveness, port turnaround time, and logistics costs compared to neighbouring countries.

What’s being said

Stakeholders in the maritime industry say the latest growth figures indicate renewed investor confidence and improved operational performance at Nigerian ports.

Industry observers also believe the expansion of the Lekki Deep Sea Port and implementation of the African Continental Free Trade Area agreement could significantly boost Nigeria’s position as a regional trade and transshipment hub.

What’s next

The Federal Government is expected to accelerate ongoing port rehabilitation projects, implement digital port management systems, and expand multimodal transport infrastructure to improve efficiency and competitiveness.

Authorities are also likely to intensify efforts to attract larger cargo volumes, strengthen regional trade integration, and increase Nigeria’s share of maritime activities across West Africa.

Bottom line

Nigeria’s maritime sector recorded strong growth in the first quarter of 2026, driven by rising cargo volumes, increased vessel traffic, and ongoing reforms. While challenges remain, current investments in port modernisation, security, and trade facilitation are positioning the country to play a bigger role in regional and continental commerce.

NGX market capitalisation rises by ₦1.1tn as banking, industrial stocks rally

NGX market capitalisation rises by ₦1.1tn as banking, industrial stocks rally

By
Boluwatife Oshadiya
-
Stock Exchange Closes Trading Week With N30bn Gain

By Boluwatife Oshadiya | May 11, 2026

Key Points

  • NGX All-Share Index advanced 1.03% week-on-week to close at 244,775.83 points
  • Equity investors gained approximately ₦1.1 trillion as market capitalisation rose to ₦157.09 trillion
  • Industrial Goods, Insurance, and Banking stocks drove market momentum during the week

Main Story

The Nigerian equities market extended its bullish run last week as investors gained approximately ₦1.1 trillion following strong buying interest in industrial, banking, and insurance stocks on the Nigerian Exchange (NGX).

Trading data showed that the NGX All-Share Index (ASI) climbed by 1.03% week-on-week to close at 244,775.83 points, while market capitalisation increased to ₦157.09 trillion from ₦155.99 trillion in the previous week.

The latest rally pushed the market’s year-to-date return higher to 57.30%, reinforcing sustained investor confidence in the domestic bourse amid renewed interest in large-cap and mid-tier equities.

Market activity also strengthened significantly during the week. Investors traded 5.99 billion shares valued at ₦347.81 billion across 406,393 deals, representing increases of 23.85% in trading volume, 20.77% in value traded, and 21.86% in total deals compared with the previous week, according to Cowry Asset Management Limited.

Sectoral performance closed largely positive, led by the Industrial Goods index, which rose 5.11% following strong demand for CAP, MEYER, and BUACEMENT shares.

The Insurance sector advanced by 4.01%, supported by renewed buying interest in SOVRENINS, LINKASSURE, and CONHALLPLC, while the Banking index gained 1.89% on the back of investor demand for ETI, FIDELITYBK, and GTCO.

However, the Oil and Gas sector declined by 3.27% due to profit-taking activities in ARADEL shares despite gains recorded by TOTALENERGIES, JAPAULGOLD, and OANDO.

Consumer Goods stocks also closed marginally lower by 0.26% after sell pressure in GUINNESS, PZ, and HONYFLOUR.

Among the week’s top-performing stocks, CAP recorded the strongest gain with a 61% increase, followed by ZICHIS (+53.2%), FTNCOCOA (+50.9%), RTBRISCOE (+41%), and DANGSUGAR (+33.4%).

On the losers’ chart, NAHCO fell by 20.9%, while GUINNESS declined 19%. ACCESSCORP, MTN Nigeria, and UPDC also posted losses of 12.6%, 12.4%, and 12.2% respectively.

The Issues

The sustained rally in the Nigerian stock market reflects growing investor appetite for equities as inflationary pressures and foreign exchange volatility continue to influence investment decisions across asset classes.

Analysts say improved corporate earnings, ongoing banking sector recapitalisation expectations, and increased liquidity in the financial system have continued to support bullish sentiment in the equities market.

However, concerns remain over profit-taking activities in recently rallying large-cap stocks, particularly in sectors that have witnessed sharp price appreciation in recent months.

Market operators also note that the direction of the equities market in the coming weeks will likely depend on broader macroeconomic conditions, including inflation trends, interest rate decisions by the Central Bank of Nigeria (CBN), and stability in the foreign exchange market.

What’s Being Said

“The Nigerian equities market maintained a strong bullish outlook, supported by sustained investor confidence, rising trading activity, and broad sectoral gains,” Cowry Asset Management Limited said in its market update.

“However, short-term volatility may persist due to profit-taking in recently rallying large-cap stocks and ongoing sector rotation,” the investment firm added.

Independent market analyst Johnson Chukwu said investors are increasingly positioning for stronger corporate earnings and potential dividend upside in key sectors of the market.

“Banking and industrial stocks remain attractive because investors expect stronger earnings resilience despite macroeconomic headwinds,” Chukwu said.

What’s Next

  • Investors are expected to monitor upcoming corporate earnings releases and dividend declarations across key sectors
  • Market attention will remain on the Central Bank of Nigeria’s next monetary policy direction amid persistent inflationary pressure
  • Analysts expect continued sector rotation as investors rebalance portfolios toward fundamentally strong stocks

The Bottom Line: Nigeria’s equities market continues to benefit from strong domestic liquidity and renewed investor confidence, but the sustainability of the rally will depend heavily on macroeconomic stability, earnings performance, and the pace of policy reforms affecting inflation and foreign exchange management.

AI-driven cyber attacks on the rise in Nigeria, expert warns

FEC approves national transport data bank, Onne and Apapa power projects

By
Boluwatife Oshadiya
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By Boluwatife Oshadiya| May 11, 2026

Key Points

  • Federal Executive Council approved three major PPP infrastructure projects across transport and energy sectors
  • Projects include a Smart National Transport Data Bank and power plants at Onne and Apapa ports
  • ICRC says the initiatives are designed to improve efficiency, energy reliability, and economic productivity

Main Story

The Federal Executive Council (FEC) has approved three major Public-Private Partnership (PPP) projects aimed at strengthening Nigeria’s transport and energy infrastructure while boosting economic productivity in key industrial corridors.

The approved projects include the development of a Smart National Transport Data Bank under the Nigerian Institute of Transport Technology (NITT), alongside Independent Power Projects (IPPs) for the Onne Port Complex and Apapa Port Complex.

The Infrastructure Concession Regulatory Commission (ICRC) disclosed the approvals in a statement issued by its Acting Head of Media and Publicity, Ifeanyi Nwoko, in Abuja.

According to the commission, the projects underwent regulatory review processes, including due diligence, Outline Business Case assessment, negotiations, and Full Business Case certification before receiving FEC approval.

ICRC Director-General, Dr. Jobson Ewalefoh, described the approvals as part of the Federal Government’s broader strategy to attract private sector investment into critical infrastructure development.

The Smart National Transport Data Bank is expected to function as a nationwide digital platform integrating real-time data across road, rail, air, and marine transportation systems.

The project will deploy technologies such as vehicle tagging and automated number plate recognition to improve traffic monitoring, transport planning, enforcement, and digital compliance.

In the energy sector, the government approved a 50-megawatt Independent Power Project for the Onne Port Complex to provide stable electricity supply to the port and the Oil and Gas Free Zone.

FEC also approved a hybrid energy project expected to generate about 36 megawatts for the Apapa Port Complex to improve operational efficiency and reduce energy costs within Nigeria’s busiest port environment.

The Issues

Nigeria’s infrastructure deficit remains one of the biggest constraints to economic productivity, particularly in the transport and logistics sectors where unreliable power supply, congestion, and poor data systems continue to increase operational costs.

Industry stakeholders have repeatedly identified inadequate transport data as a major challenge limiting efficient infrastructure planning and policy implementation across the country.

Power shortages at major ports have also contributed to rising logistics costs, delayed cargo handling, and reduced competitiveness for Nigerian ports compared with regional counterparts.

Analysts say the increasing use of PPP frameworks reflects the government’s push to leverage private sector funding and expertise amid fiscal constraints and growing infrastructure financing gaps.

What’s Being Said

“The approvals represent a deliberate shift towards well-structured PPPs that unlock private capital and deliver measurable economic impact,” said Dr. Jobson Ewalefoh, Director-General of the ICRC.

“Nigeria’s biggest transport challenge is not just infrastructure; it is the lack of reliable, usable data,” Ewalefoh added.

“When you fix power in these critical economic zones, you directly impact trade efficiency, reduce the cost of doing business and strengthen Nigeria’s position as a regional hub,” he said.

Infrastructure analyst Dayo Akinpelu said the projects could improve operational efficiency if implementation timelines and regulatory oversight are effectively managed.

“Reliable power and accurate transport data are foundational requirements for efficient port operations and long-term trade competitiveness,” Akinpelu said.

What’s Next

  • The approved PPP projects are expected to move into implementation and financing stages following FEC approval
  • Regulatory agencies and private concessionaires are expected to finalise operational agreements and project timelines
  • Stakeholders will monitor project execution amid concerns over delays affecting previous infrastructure PPP initiatives

The Bottom Line: The Federal Government’s latest PPP approvals signal a stronger push toward infrastructure modernisation, but the long-term success of the projects will depend on execution discipline, private sector confidence, and sustained regulatory oversight.

AI-driven cyber attacks on the rise in Nigeria, expert warns

Arsenal edge West Ham to move within reach of Premier League glory

By
Boluwatife Oshadiya
-

By Boluwatife Oshadiya

Key Points

  • Arsenal defeated West Ham 1-0 at the London Stadium after a dramatic late VAR intervention.
  • Leandro Trossard scored the decisive goal in the 83rd minute.
  • West Ham had a stoppage-time equaliser ruled out following a VAR review for a foul on David Raya.
  • Arsenal are now five points ahead of Manchester City in the Premier League title race.
  • Mikel Arteta’s side could win their first league title since 2004 within the next two matches.

Main Story

Arsenal moved a step closer to ending their 22-year wait for a Premier League title after a controversial 1-0 victory over West Ham United on Sunday at the London Stadium.

Mikel Arteta’s side struggled to create clear-cut opportunities for much of the encounter before Belgian forward Leandro Trossard broke the deadlock in the 83rd minute with a strike that deflected past West Ham goalkeeper Mads Hermansen.

The match appeared destined for late drama when West Ham believed they had secured an equaliser deep into stoppage time. Arsenal goalkeeper David Raya dropped the ball inside his six-yard box under pressure from Pablo, allowing Callum Wilson to fire into the net.

However, referee Chris Kavanagh was instructed by VAR official Darren England to review the incident at the pitch-side monitor. After a lengthy delay, the goal was ruled out for a foul on Raya, sparking furious reactions from West Ham supporters and relief among Arsenal players and fans.

The result leaves Arsenal five points clear of second-placed Manchester City, although Pep Guardiola’s side still have a game in hand against Crystal Palace. Arsenal can now secure their first English league title since the 2003-04 “Invincibles” campaign if they win their remaining fixtures against Burnley and Crystal Palace.

The Gunners are also enjoying one of the strongest seasons in the club’s modern history after reaching the UEFA Champions League final, where they are scheduled to face Paris Saint-Germain later this month in Budapest. Arteta’s men showed resilience throughout the contest despite losing defender Ben White to injury in the first half, which forced Declan Rice into a temporary defensive role.

West Ham also created several dangerous moments, with David Raya producing crucial saves to deny Valentin Castellanos and Mateus Fernandes before Arsenal eventually found the breakthrough.

Martin Odegaard combined cleverly with Rice before feeding Trossard, whose effort took a heavy deflection on its way into the net.

The victory further strengthens Arsenal’s push for a potential league and Champions League double — an achievement that would mark one of the greatest seasons in the club’s history.

What’s Being Said

“It was a very brave call from the referee and VAR in a huge moment of the season,” Arsenal manager Mikel Arteta said after the match.

“When you look at the action carefully, it is a foul and the goal had to be disallowed. These are moments that can decide the history of clubs.”

West Ham boss Nuno Espirito Santo criticised the decision and questioned the consistency of officiating standards.

“There is too much doubt around these situations. Sometimes they are given, sometimes they are not,” Nuno said.

Former Manchester United defender Gary Neville also weighed in on the incident, describing it as one of the most significant VAR moments in Premier League history.

What’s Next

Arsenal will host Burnley in their next Premier League fixture knowing victory could move them within touching distance of the title. Manchester City face Crystal Palace in a crucial game in hand that could determine whether the title race goes down to the final weekend. West Ham, meanwhile, remain in the relegation battle and will need positive results from their remaining fixtures to boost their survival hopes.

Bottom Line

Arsenal survived a major late scare against West Ham, with a controversial VAR decision potentially shaping the outcome of the Premier League title race. With only two matches remaining, the Gunners are now on the verge of ending more than two decades without a league crown.

Industry growth slowed by contracting delays, warns WIAFRI Executive

Week 47 Pool Fixtures for Sat 23, May 2026, UK 2025/2026

By
Boluwatife Oshadiya
-

Now you can find the Week 47 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 47 pool fixtures on Bizwatchnigeria.ng as soon as they are released by the FPA (Football Pools Authority).

Pool Fixtures For This Week: 47; SEASON: UK 2025/2026  
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