Canada has vowed to introduce a comprehensive set of new security measures along its border with the US, including enhanced surveillance and the creation of a joint “strike force” aimed at tackling transnational organized crime. This commitment comes in response to a threat from President-elect Donald Trump, who has warned that, starting in January, he … Read more
The Minister of Works, Dave Umahi, has explained that Nigeria stands to save N640 billion by terminating Julius Berger’s contract for the construction of the Abuja-Kaduna-Zaria-Kano road. EKO HOT BLOG reports that Umahi made this statement while appearing before the House of Representatives Ad Hoc Committee to defend the government’s decision. He recalled that in … Read more
A massive fire swept through the tailoring section of New Modern Market in Lafia, Nasarawa State, on Thursday night, destroying 30 shops and goods worth millions of naira. EKO HOT BLOG reports that the blaze, which ignited around 9:30 pm, persisted into the early hours of Friday, leaving a trail of devastation. Firefighters from the … Read more
The House of Representatives has resolved to investigate the retirement of over 1,000 staff of the Central Bank of Nigeria (CBN) and the associated N50 billion payoff scheme. The decision was reached during Tuesday’s plenary session following a motion of urgent national importance moved by Kama Nkemkama, representing the Ohaozara/Onicha/Ivo Federal Constituency of Ebonyi State. … Read more
Prime Minister Justin Trudeau has travelled to Florida to meet with Donald Trump as Canada seeks to counter the president-elect’s proposed 25% tariff on Canadian goods. Canadian media reported that Trudeau arrived at Palm Beach International Airport on Friday evening for a visit to Trump’s Mar-a-Lago estate. The trip was not listed on Trudeau’s official … Read more
The Presidential Air Fleet (PAF) incurred expenses totaling N19.43 billion from July 2023 to September 2024, with N13.55 billion spent in 2024, covering 66% of the year’s budget allocation. Most funds went towards “Forex Transit Funds” for foreign exchange needs during international engagements, including fuel, maintenance, and operational services abroad, officials said. EDITOR’S PICKS Electricity … Read more
The return of Donald Trump as the 47th President of the United States may lead to intensified inflationary pressures in Nigeria and a potential drop in global oil prices, which would negatively impact Nigeria’s oil revenue. This outlook was shared in an investor note from FXTM, a prominent trading platform, authored by Senior Market Analyst … Read more
The dollar surged, and bitcoin hit a record high Wednesday as traders reacted to Donald Trump’s projected wins in two key swing states, sparking expectations of tax cuts, tariffs, and potential inflation under his administration. While polls had forecast a close race, Trump appeared to gain an edge over Democratic rival Vice President Kamala Harris … Read more
The Nigerian Correctional Service (NCoS) has announced that the 2025 budget will include an increased daily feeding allowance for inmates, addressing concerns over nutrition amid economic challenges. Confirming this adjustment on Tuesday, Nasarawa State NCoS spokesperson Stephen Abene stated that the feeding allowance per inmate will rise from N750 to N1,150, following government approval aimed … Read more
A mild drama unfolded in the House of Representatives on Monday as Gboyega Oyetola, the Minister of Blue and Marine Economy, claimed that a multi-billion-dollar cargo tracking agreement involving the federal government and the International Cargo Tracking Notes (ICTN) was flawed. Oyetola made this assertion while being questioned by a House investigative panel examining the … Read more
Mr. Joe Ajaero, President of the Nigeria Labour Congress (NLC), revealed the agreement reached between organized labour and President Bola Tinubu before accepting the N70,000 minimum wage during the national wage discussions held at the Presidential Villa in Abuja. During an interview on Arise Television’s Morning Show, Ajaero explained that while negotiating for a new … Read more
The Nigerian Communications Commission (NCC) has announced its intention to sanction Elon Musk’s internet company, Starlink, for raising its subscription prices in Nigeria without the regulator’s approval. In response to inquiries from the publication, the NCC’s Director of Public Affairs, Dr. Reuben Muoka, confirmed that the Commission had not sanctioned Starlink’s price increase. Muoka stated … Read more
Taylor Swift has officially become the world’s richest female musician, overtaking Rihanna with an estimated net worth of $1.6 billion, according to Forbes. At 34, Swift’s wealth has skyrocketed due to the massive success of her ongoing Eras Tour, her valuable music catalog, and a substantial real estate portfolio, solidifying her status as a dominant … Read more
The Nigerian National Petroleum Company Limited (NNPCL) has given major petroleum marketers the green light to start lifting premium motor spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery. This decision aligns with the existing agreement between NNPCL and the refinery. Under the original agreement, NNPCL was designated as the exclusive distributor of … Read more
FG has lifted the suspension on Arik Air’s operations, which was initially grounded due to a $2.5 million debt The Federal Government has lifted the suspension on the operations of local airline Arik Air. EKO HOT BLOG reports that this is more than a week after the Minister of Aviation and Aerospace Development, Festus Keyamo, ordered … Read more
Smuggled Nigerian petrol floods West African markets, selling at N1,700/litre. Federal Government raises alarm over petrol smuggling into neighbouring countries. Customs seizes over 150,000 litres of smuggled petrol, launches Operation Whirlwind to curb activities. EKO HOT BLOG reports that the Federal Government raised an alarm on Monday about the resurgence of petrol smuggling, particularly Premium Motor … Read more
Igbo women, under the Igbo Women Assembly (IWA), called for disarming violent herdsmen in the South East due to attacks on farmers. The IWA criticized military checkpoints for stifling the region’s economy and driving away youths. IWA National President, Lolo Nneka Chimezie, urged President Tinubu to address the unprovoked attacks by herders and emphasized no … Read more
The Presidency warns that meeting Labour’s demand for a ₦500,000 minimum wage could cause widespread economic issues. Pre Tinubu supports improving wages but acknowledges current economic conditions don’t support such a high increase. Ajuri Ngelale highlights that a drastic wage increase could lead to inflation and destabilize the economy. EKO HOT BLOG reports that the … Read more
Construction Workers Threaten Nationwide Strike. A dispute between the Ministry of Works and FOCI has led to 3,000 job losses, with up to 32,000 more at risk. Unions call for a conflict resolution and a construction sector bailout to prevent increased poverty and insecurity. EKO HOT BLOG reports that ongoing construction on major roads in the … Read more
Dangote Refinery announced that Nigeria will stop importing petrol by next month due to the refinery’s production capabilities. The refinery’s operations could reduce Nigeria’s annual fuel import bill by N6.2 trillion, saving significant foreign exchange expenditures. The refinery will meet the fuel needs of West Africa and beyond, including supplying aviation fuel to the continent … Read more