Business

By Ayo Kehinde According to the latest data from the Organization of the Petroleum Exporting Countries (OPEC), Nigeria’s crude oil production fell to 1.31 million barrels per day (bpd) in February 2026, representing a 10.7% decline from 1.45 million bpd in January. OPEC confirmed that the February production data was obtained through direct communication with Nigerian authorities. The drop means …

TCN removes encroachments on the Ihovbor-Ajaokuta 330 kV line The Transmission Company of Nigeria (TCN), Benin Region, recently carried out a clearance operation to remove structures encroaching on the 330 kV Ihovbor-Ajaokuta transmission line in Ihovbor community, Edo State. The activity took place from Wednesday 18 February to Friday 20 February 2026. The two-day operation aimed to reclaim TCN’s right …

Post views: 19 By Silvernews The South East representative on the board of the Nigeria Basketball Federation, Ugo Udezue, has joined the president of the federation, Musa Kida, in commending the Nigeria senior women’s basketball team, D’Tigress, for their commanding performance against Colombia in the opening match of Group D of the 2026 FIBA ​​Women’s Basketball World Cup in …

The federal government has attributed the delay in the payment of February 2026 salaries in some ministries, departments and agencies (MDAs) to shortcomings in staff cost allocation, confirming that other federal workers were paid on time. The Office of the Accountant General of the Federation (OAGF) said the affected MDAs include the Federal Ministry of Steel Development, Nigerian Export Promotion …

President Bola Ahmed Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, subject to confirmation by the Senate. The appointment is in accordance with Section 8(1) of the Central Bank of Nigeria Act 2007. Yuguda’s appointment follows the recent appointment of former Deputy Governor, Bala Bello, as Special Adviser to the …

Glaucoma Week: Nigeria steps up awareness as experts highlight risk factors – Core Reporters Glaucoma Week: Nigeria steps up awareness as experts highlight risk factors By Raphael Ekpang The Ministry of Health and Social Security has reaffirmed its commitment to combating glaucoma and other eye health challenges as part of nationwide activities marking Glaucoma Week. Speaking at a press conference …

Panic gripped parts of Kwara State on Wednesday night as suspected terrorists launched coordinated attacks on villages in Ifelodun and Edu local government areas, forcing residents to flee into nearby bushes for safety. Sources within the affected communities said the attackers struck late at night, targeting Budesu and Ahun in Ifelodun and Bishewa in Edu. Eyewitnesses described the attackers as …

Under the new pricing framework, the PMS gantry price has been reduced from ₦1,175 to ₦1,075 per liter—a reduction of ₦100. Prices in coastal areas have also been adjusted down from ₦1,150 to ₦1,028 per litre, representing a decrease of ₦122. The price of diesel has also been reduced from ₦1,620 to ₦1,430 per litre, which amounts to a cut …

The global business environment is changing in ways that Nigeria cannot afford to passively read. What is emerging is not simply a competition between great powers, nor simply a question of market access. This is a reordering of how Africa is positioned within competing trade architectures. The United States reauthorized the African Growth and Opportunity Act (AGOA) only until December …

The Senate on Wednesday confirmed the appointment of Taiwo Oyedele as Minister of State for Finance. Senate President, Godswill Akpabio, announced the confirmation after lawmakers approved the nominee through a vote in the Committee of the Whole. President Bola Tinubu last week nominated the 50-year-old Economist as Minister of State for Finance. READ ALSO: Tinubu writes to Senate to screen, …