Novagist

FAAN Announces 18-Month Timeline for Cargo Truck Call-Up System at Lagos Airport FAAN to Deploy Cargo Truck Call-Up System at MMIA Within 18 Months The Federal Airports Authority of Nigeria (FAAN) has announced a definitive 18-month timeline to make its Truck Call-Up System fully operational at the Murtala Muhammed International Airport (MMIA). This initiative is […]

Naira Strengthens at Official Market, Closes Week at N1,363/$ Naira Records Weekly Gain, Closes at N1,363/$ in Official Trading The Nigerian Naira concluded the trading week on a stronger note at the official foreign exchange market, appreciating to a closing rate of N1,363 per US Dollar on Friday. According to daily trading data released by […]

EU Issues Preliminary Ruling Against TikTok for Addictive Design, Threatens Major Fine EU Rules TikTok’s Addictive Design Breaches Digital Services Act The European Commission has issued a stark preliminary finding against TikTok, stating the platform’s core design encourages compulsive use and fails to adequately protect users, particularly minors. This action, part of a formal investigation […]

Appeal Court Upholds N2.5bn Award for Sacked ABU Workers, Dismisses CBN Challenge Court of Appeal Enforces N2.5 Billion Judgment for Dismissed University Staff In a decisive ruling that underscores the finality of court judgments, the Court of Appeal in Abuja has dismissed appeals by the Central Bank of Nigeria (CBN) and Ahmadu Bello University (ABU), […]

Meta Faces Landmark Child Safety Trial in New Mexico | Legal Precedent Explained Meta to Stand Trial in New Mexico Over Child Safety Allegations The first stand-alone trial resulting from a wave of state lawsuits against Meta Platforms Inc. is scheduled to commence on Monday, February 2, 2026, in New Mexico. This pivotal case, initiated […]

CPPE Advocates for National Farm Price Stabilisation Framework | Policy Analysis Policy Think Tank Calls for National Framework to Stabilize Farm Prices and Incomes The Centre for the Promotion of Private Enterprise (CPPE) has issued a formal appeal to the Federal Government for the establishment of a rules-based national farm price stabilisation framework. This initiative […]

Nigeria Forges Path as Africa’s First Electric Vehicle Manufacturing Nation Nigeria Positions to Become Africa’s Premier Electric Vehicle Manufacturer In a landmark move for continental industrialization, the Federal Government of Nigeria has taken a decisive step toward establishing the first dedicated Electric Vehicle (EV) manufacturing plant in Africa. This initiative, realized through a strategic Memorandum […]

World Bank’s Mission 300 Aims to Power 17.5 Million Nigerians World Bank Initiative Targets Energy Access for 17.5 Million Nigerians The World Bank has announced that its ambitious Mission 300 program will provide household energy access to an estimated 17.5 million people in Nigeria. This engagement with the Federal Government is designed to stimulate job […]

Strategic Capital Allocation: How Nigerian Billionaires Are Projected to Invest in 2026 Navigating Economic Headwinds: The 2026 Investment Outlook for Nigeria’s Wealth Elite While millions of Nigerians contend with inflation and exchange-rate volatility, the nation’s billionaire class operates from a distinct vantage point, functioning as sophisticated global capital allocators. Their primary focus remains on hedging […]

Federal High Court Remands NEDC Coordinator Over N2.2 Billion Fraud Allegations NEDC Project Coordinator Remanded in Prison Over N2.2 Billion Fraud Case A Federal High Court in Abuja has ordered the remand of Alhaji Mohammed Danjuma, the National Coordinator of the Multi-Sectoral Crisis Recovery Project (MCRP) for the North East Development Commission (NEDC), in the […]

CBN Approves Temporary Use of Expired NAFDAC Licences for Import Documentation CBN Grants Temporary Relief for Importers Using Expired NAFDAC Licences In a significant move to ensure business continuity, the Central Bank of Nigeria (CBN) has authorized a temporary dispensation for importers to utilize expired National Agency for Food and Drug Administration and Control (NAFDAC) […]

PayPal’s Nigeria Return Sparks Boycott Calls and Cautious Optimism PayPal’s Strategic Return to Nigeria Meets Public Skepticism The announcement of PayPal’s renewed engagement in Nigeria, through a partnership with local fintech firm Paga, has ignited a spectrum of reactions across the nation’s digital landscape. While the move enables Nigerians to receive payments on the platform […]

International Energy Insurance Reports N688.8 Million Profit for 2025 International Energy Insurance Navigates Market Headwinds to Post N688.8 Million Profit in 2025 International Energy Insurance Plc (IEI) has announced a pre-tax profit of N688.8 million for its full-year 2025 financial period. This result demonstrates the company’s resilience in a challenging operating environment, achieved despite a […]

Guinea Insurance Seeks NGX Approval for N5.30 Billion Rights Issue Guinea Insurance Plc Files for N5.30 Billion Rights Issue with Nigerian Exchange Guinea Insurance Plc has formally applied to the Nigerian Exchange (NGX) for approval to raise N5.30 billion through a rights issue. This strategic move is aimed at strengthening the company’s capital base and […]

Market Analysis: Nigerian Equities See Marginal Dip Amid High Volume Trading Nigerian Stock Market Edges Lower Amid Active Trading Session The Nigerian Exchange Limited concluded trading on Monday, January 19, 2026, with a marginal decline. The All-Share Index (ASI) slipped by a mere 0.01%, closing at 166,112.5 points. This represented a modest 17-point decrease from […]

Geregu Power Reports N41.9bn Pre-Tax Profit for 2025 on Robust Energy Sales Geregu Power Plc Announces 2025 Financial Results: Pre-Tax Profit Rises to N41.9 Billion Geregu Power Plc, a foremost electricity generation company in Nigeria, has released its audited financial statements for the year ended December 31, 2025. The company posted a pre-tax profit of […]

Court Rules EFCC Exceeded Powers in Amadeus Tax Demand Case Court Nullifies EFCC’s €3.2m and $2.4m Tax Demand Against Amadeus The Federal High Court in Abuja has delivered a significant ruling clarifying the limits of anti-graft agencies’ powers, nullifying a demand by the Economic and Financial Crimes Commission for €3.2 million and $2.4 million in […]

President Bola Tinubu Confers Prestigious GCON Honour on Gilbert Chagoury President Bola Tinubu Confers Prestigious GCON Honour on Gilbert Chagoury In a ceremony held in Abuja on January 8, 2026, President Bola Ahmed Tinubu conferred the national honour of Grand Commander of the Order of the Niger (GCON) upon Ambassador Gilbert Chagoury. The award, presented […]

AEDC Adopts HoldCo Structure Following Nigeria’s Electricity Act 2023 Abuja Electricity Distribution Plc Transitions to Holding Company Model In a strategic move to align with Nigeria’s evolving power sector, Abuja Electricity Distribution Plc (AEDC) has formally transitioned to a holding company (HoldCo) structure. This restructuring is a direct response to the decentralized regulatory framework established […]

Chapel Hill Denham Announces N5.59bn NIDF Distribution for Unitholders Nigeria Infrastructure Debt Fund Declares N5.59 Billion Cash Distribution Chapel Hill Denham Management Limited, the fund manager for the Nigeria Infrastructure Debt Fund (NIDF), has announced a significant cash distribution to its unitholders. According to a corporate filing on the Nigerian Exchange (NGX) dated January 15, […]

SKLD at 25: A Legacy of Resilience and Impact in Nigerian Business SKLD at 25: Rooted in Legacy, Driven by Impact Navigating a quarter-century in Nigeria’s dynamic business landscape is a testament to exceptional resilience. Surviving economic cycles, regulatory shifts, and supply chain shocks demands a model worthy of respect and study. As SKLD Integrated […]

The $130 Billion Paradigm Shift: How Africa’s Energy Titans Are Reshaping Investment The $130 Billion Paradigm Shift: How Africa’s Energy Titans Are Reshaping Investment In the landscape of African industry, figures like Femi Otedola, Tony Elumelu, and Aliko Dangote command significant influence. A profound transformation is now redefining the continent’s energy sector, where success is […]

IMF Report: AI-Driven Labor Market Shifts Demand New Skills Globally IMF Analysis: AI Reshaping Global Labor Markets, Demands New Skills A new analysis from the International Monetary Fund reveals that artificial intelligence and digital transformation are rapidly altering global employment landscapes, compelling workers worldwide to pursue continuous learning. IMF Managing Director Kristalina Georgieva emphasized these […]

International Breweries Plc Announces Executive Leadership Transition International Breweries Plc Announces Executive Leadership Transition International Breweries Plc (IBPLC), a subsidiary of Anheuser-Busch InBev, has announced a significant change in its executive management. The company confirmed that its current Managing Director, Mr. Carlos Coutino, will transition to a new leadership role within the AB InBev group, […]

Federal Government and ASUU Sign Landmark Agreement with 40% Pay Review Federal Government and ASUU Finalize Renegotiated Agreement, Introducing 40% Pay Review and New Professorial Allowance The Federal Government has formally signed a renegotiated agreement with the Academic Staff Union of Universities (ASUU), marking a pivotal step toward stabilizing and improving Nigeria’s public university system. […]

Court Denies NDLEA Bid to Keep Proxy Night Club Sealed | Legal Ruling Court Upholds Unsealing Order, Denies NDLEA’s Stay of Execution Request In a significant legal ruling, the Federal High Court in Lagos has refused an application by the National Drug Law Enforcement Agency (NDLEA) to suspend the enforcement of its order to unseal […]

NELFUND Addresses N928 Million Student Allowance Arrears, Outlines Resolution Plan NELFUND Identifies N927.98 Million in Student Upkeep Arrears, Cites Technical Hurdles The Nigerian Education Loan Fund (NELFUND) has announced the identification of N927.98 million in unpaid student upkeep allowances owed to 11,685 beneficiaries. The discovery followed a comprehensive reconciliation exercise after the 2024/2025 academic session. […]

Universal Insurance Seeks N15bn Capital Raise Approval | Strategic Move Universal Insurance Plc Proposes N15 Billion Capital Raise to Meet Regulatory Requirements Universal Insurance Plc has announced a strategic initiative to strengthen its financial base. The company is seeking shareholder approval to raise up to N15 billion through the Nigerian or international capital markets. This […]

Yobe State Clears N15.4 Billion Gratuity Backlog for Retirees Yobe State Settles N15.4 Billion in Outstanding Gratuities The Yobe State Government has announced the full settlement of outstanding gratuity liabilities owed to retirees from both state and local government service. A total of N15.4 billion was disbursed to eliminate the backlog, which had accumulated over […]

Nigeria’s 2025 Oil Production: A Detailed Analysis of NUPRC Data Nigeria’s Crude Oil Production Averaged 1.64 mb/d in First 11 Months of 2025 According to official data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the nation’s combined crude oil and condensate production averaged 1.64 million barrels per day (mb/d) from January to November 2025. […]

PAC Foundation Empowers 100 Young Women with Digital Skills for the Modern Economy PAC Foundation Concludes Successful Digital Skills Program for Young Women The PanAfrican Capital (PAC) Foundation has successfully concluded the third cohort of its Girls Can Code (GCC) initiative, a strategic partnership with ALX Nigeria. This flagship program is designed to equip young […]

Max Health Seeks Committal Against PCN, H-Medix in Abuja Pharmacy Dispute Max Health Escalates Legal Battle, Files Committal Motion Against PCN and H-Medix In a significant escalation of a multi-million naira lawsuit, Max Health has filed a motion for committal to prison against H-Medix and the Chairmen of the Pharmacy Council of Nigeria (PCN), FCT […]

Peter Obi Questions Presidential Absence Amid National Crises Peter Obi Criticizes President Tinubu’s Extended Absence During National Crises Former Nigerian presidential candidate Peter Obi has publicly questioned President Bola Ahmed Tinubu’s prolonged periods abroad amidst mounting domestic challenges. In a detailed statement on social media platform X, Obi highlighted that the President spent 196 days […]

Nigerian Stock Market Surpasses N104 Trillion Amid Trading Surge Nigerian Equities Market Hits Record N104.5 Trillion Valuation The Nigerian Exchange concluded trading on Monday, January 12, 2026, on a robustly positive note, with the benchmark All-Share Index (ASI) advancing by 946.6 points to close at 163,244.7 points. This significant gain propelled the index firmly above […]

PwC Forecast: 34.7 Million Nigerians Face Acute Food Insecurity by 2026 PwC Forecast: Conflict and Soaring Costs Threaten Food Security for 34.7 Million Nigerians A new economic outlook warns of a severe food security crisis looming for Nigeria. According to the “Nigeria Economic Outlook 2026” report by professional services firm PwC, titled “Turning Macroeconomic Stability […]

Nollywood’s Digital Shift: Top YouTube Movies of 2025 Nollywood’s 2025 Landscape: YouTube Emerges as a Primary Distribution Platform The Nollywood distribution landscape is undergoing a significant transformation. As of 2025, it is clear that cinemas and subscription services are no longer the sole avenues for revenue or audience engagement. YouTube has emerged as a powerful […]

Federal Government Enforces ‘No Work, No Pay’ Amid JOHESU Strike Federal Government Mandates ‘No Work, No Pay’ in Federal Hospitals as JOHESU Strike Continues The Federal Government has directed the immediate enforcement of a “No Work, No Pay” policy against striking members of the Joint Health Sector Unions and Assembly of Health Care Professionals (JOHESU) […]

Analysis: N11.03 Billion Allocated for State House Operations in 2026 Nigerian Budget N11 Billion Budgeted for Presidential, Vice-Presidential Operations in 2026 Appropriation Bill An analysis of the 2026 Appropriation Bill presented to the National Assembly reveals that a combined sum of N11.03 billion has been allocated for the operational costs of the offices of President […]

Federal High Court Grants N1.5bn Bail to Former AGF Malami in N8.7bn Laundering Case Court Grants N1.5 Billion Bail to Former AGF Malami, Family in High-Profile Money Laundering Trial The Federal High Court in Abuja has granted bail set at N1.5 billion to former Attorney-General of the Federation, Abubakar Malami, SAN, his wife, and his […]

Kian Smith Lists N21 Billion in Gold Bars on Lagos Commodities Exchange Major Gold Listing: Kian Smith to Trade N21 Billion in LBMA Gold on LCFE In a significant development for Nigeria’s capital market, Kian Smith Company FZE is set to list and trade over 21 billion Naira worth of 1kg LBMA-certified gold bars on […]

Cardinal Stone Forecast: Naira to Strengthen to N1,350-N1,450/$ in 2026 Economic Outlook: Naira Projected to Appreciate to N1,350-N1,450/$ in 2026 In a comprehensive 2026 economic outlook report titled “Indicators Align for Sustained Macro Gains,” leading investment firm CardinalStone Partners projects a significant appreciation of the Nigerian Naira. The report, published on January 6, 2026, forecasts […]

Otedola Advocates for N1 Trillion Bank Capital as FirstBank Meets CBN Target Business Leader Calls for Elevated Banking Standards Amid Sector Recapitalization Nigerian billionaire investor and businessman Femi Otedola has publicly advocated for a significant increase in the capital base required for international banking operations in Nigeria. Drawing from over three decades of experience navigating […]

Starlink Announces Major Satellite Reconfiguration to Enhance Orbital Safety Starlink Announces Major Satellite Reconfiguration to Enhance Orbital Safety In a significant move for space traffic management, SpaceX’s Starlink division has unveiled a plan to reconfigure a major portion of its satellite constellation. The initiative, announced by Vice President of Starlink Engineering Michael Nicholls, will see […]

Central Bank of Nigeria Reports NPL Ratio Rise to 7% Post-Forbearance Regulatory Shift: Nigerian Banks’ NPL Ratio Climbs to 7% as Pandemic Forbearance Ends The Nigerian banking sector recorded a significant increase in non-performing loans in 2025, following the Central Bank of Nigeria’s decision to conclude its regulatory forbearance measures. According to the latest CBN […]

Kano State Approves N6.9 Billion for Infrastructure and Welfare Projects Kano State Government Greenlights Major Infrastructure and Welfare Investment In a significant move to accelerate development, the Kano State Executive Council has sanctioned the allocation of over N6.9 billion for a comprehensive suite of infrastructure, social welfare, and governance enhancement projects. The approval, announced by […]

Private Sector Credit Rises to N74.63tn Following CBN Policy Shift Private Sector Credit Shows Early Rebound, Reaching N74.63 Trillion New data from the Central Bank of Nigeria (CBN) indicates a tentative recovery in lending, with private sector credit rising to N74.63 trillion in November 2025. This follows the Monetary Policy Committee’s (MPC) decision to cut […]

Coups in West Africa: Analyzing the Sustainability of Democratic Governance Coups in West Africa and the Sustainability of Democratic Governance The recent resurgence of military coups across West Africa has ignited a critical debate regarding the long-term sustainability of democratic institutions in the region. This trend challenges the foundational principles of constitutional governance and popular […]

Assessing the Relevance of Traditional Rulers in Modern Governance Assessing the Enduring Relevance of Traditional Rulers in Contemporary Nigeria The ongoing discourse regarding the role of traditional institutions within Nigeria’s modern democratic framework remains a critical examination of cultural continuity and administrative efficacy. As the nation navigates complex governance challenges, from debates over a ‘padded […]

U.S. Diplomatic Shift: Recall of Envoy to Nigeria Under Trump Administration U.S. Diplomatic Shift: Recall of Envoy to Nigeria Under Trump Administration In a notable diplomatic move, the Trump administration recalled the United States ambassador to Nigeria. This action represents a significant adjustment in diplomatic posture, though the original source material did not specify the […]

Osun State Local Governments Present 2026 Budget Proposals to Legislative Arm Osun State Council Chairpersons Submit 2026 Fiscal Plans for Legislative Scrutiny In a key step of the democratic governance process, local government council chairpersons in Osun State have formally presented their 2026 budget proposals to their respective legislative arms for review and approval. This […]