Echotitbits – Nigeria News

Author: B.O.B Echoload

  • Asake Continues World Tour Dominance with Electrifying Performance

    Asake Continues World Tour Dominance with Electrifying Performance

    Asake delivered another high-energy arena performance on his world tour, with crowd footage showing strong turnout and intense engagement as the singer continues his international run.

    His Fuji-infused sound alongside Amapiano rhythms remains a defining signature, while his on-tour fashion choices—mixing streetwear with Nigerian aesthetics—continue to influence youth style culture.

    The tour’s momentum reinforces the global expansion of the YBNL camp, with fans increasingly calling for a landmark Lagos stadium moment to cap a strong year.

    Echotitbits take: Asake is a bridge between legacy Fuji textures and modern global pop. His sustained touring pace and strong aesthetic identity position him well for major award contention and long-run brand partnerships that value both authenticity and scale.
    Source: The Guardian – https://guardian.ng/saturday-magazine/weekend-beats/asake-excites-fans-with-mr-money-african-tour-announcement/ 2026-01-26
    Photo Credit: The Guardian

  • APC Strengthens Northern Grip as Kano Governor Formally Joins Ruling Party

    APC Strengthens Northern Grip as Kano Governor Formally Joins Ruling Party

    Kano State Governor Abba Kabir Yusuf has finalized his political transition from the New Nigeria Peoples Party (NNPP) to the All Progressives Congress (APC). He is scheduled to officially register at his Gwale ward on January 26, 2026, a move that signals a major realignment in Nigeria’s most populous northern state.

    State officials have described the move as a “homecoming.” The governor’s camp says the shift will improve coordination between Kano’s government and the federal administration in Abuja. The transition reportedly includes the defection of 22 state lawmakers and 44 local government chairmen, potentially reshaping legislative and administrative alignments across the state.

    While supporters frame the decision as a pathway to accelerated development, critics argue it may narrow political diversity in Kano. Separate reporting has described the defection as further consolidating the APC’s position nationally, with Kano officials also pushing back against narratives that the state’s political future should revolve around any single individual.

    Echotitbits take: This defection effectively collapses the NNPP’s strongest base. Watch for how the Kwankwasiyya movement reacts—this could either lead to a total APC hegemony in Kano or trigger a new, aggressive opposition coalition.
    Source: The Punch – https://punchng.com/kano-gov-to-formally-rejoin-apc-monday/ 2026-01-26

    Photo Credit: The Punch

  • Amosun Rallies Mammoth Crowd in Abeokuta, Endorses Tinubu for 2027

    Amosun Rallies Mammoth Crowd in Abeokuta, Endorses Tinubu for 2027

    Former Ogun State Governor and Senator Ibikunle Amosun turned his 68th birthday celebration into a large-scale political rally at the Ake Palace Pavilion in Abeokuta on January 25, 2026. Addressing supporters, Amosun publicly endorsed President Bola Ahmed Tinubu for a second-term bid ahead of 2027, arguing that the South should complete an eight-year tenure for stability and equity.

    Amosun described rotational presidency as a practical framework for national cohesion. He maintained that after eight years of Northern leadership, fairness requires that the presidency remain in the South until 2031, positioning Tinubu as the region’s consensus candidate. Despite reports of internal party friction and alleged boycott directives, the rally drew prominent APC figures and filled the pavilion to capacity.

    Beyond politics, the event reportedly included a humanitarian visit to the Ibara Correctional Centre, where Amosun’s team donated relief items. Additional reporting characterized the rally as a demonstration of enduring political influence, with Amosun urging Nigerians to exercise patience with ongoing reforms and to respect zoning in the interest of national stability.

    Echotitbits take: Amosun is effectively reminding everyone that he remains the “issue” in Ogun politics. By backing Tinubu so early and so publicly, he is carving out a strategic position for himself in the 2027 power map, likely to the chagrin of the current state administration.
    Source: Vanguard – https://www.vanguardngr.com/2026/01/2027-presidency-respect-rotational-agreement-amosun-tells-north/ 2026-01-26

    Photo Credit: Vanguard

  • Presidential State Visit to Türkiye Focuses on Bilateral Trade and Security

    Presidential State Visit to Türkiye Focuses on Bilateral Trade and Security

    President Bola Ahmed Tinubu is departing Abuja on January 26, 2026, for a state visit to the Republic of Türkiye aimed at strengthening bilateral ties and signing new Memoranda of Understanding across security, aviation, and scientific research.

    The delegation includes the Minister of Foreign Affairs, the Minister of Defence, and the Attorney General, with talks expected to focus on increasing trade volume and deepening cooperation in defense technology and infrastructure. Officials say the discussions will target practical outcomes that improve Nigeria’s security capacity and economic performance.

    Despite the strategic importance of the trip, the presidency has faced criticism over the level of detail released about the itinerary. Government officials maintain that the engagement is designed to deliver measurable economic and security benefits, and that both countries will also hold strategic political and diplomatic discussions around shared priorities.

    Echotitbits take: Nigeria is looking to Türkiye as a key partner for defense procurement and agricultural technology. The success of this trip will be measured by the concrete investment figures in the defense and manufacturing sectors by year-end.
    Source: State House – https://statehouse.gov.ng/president-tinubu-to-undertake-state-visit-to-turkiye/ 2026-01-26

    Photo Credit: State House Media

  • Shell CEO Announces Massive $20 Billion Investment Commitment for Nigeria

    Shell CEO Announces Massive $20 Billion Investment Commitment for Nigeria

    Shell Plc has announced a fresh $20 billion investment commitment to Nigeria’s energy sector, disclosed by global CEO Wael Sawan during a meeting at the Presidential Villa. Sawan praised recent policy reforms, saying they have helped restore investor confidence in Nigeria’s oil and gas industry.

    The investment is expected to target deepwater assets and gas infrastructure, including projects linked to Bonga North and NLNG. Shell’s leadership indicated the company is positioning for long-term capital deployment, with gas infrastructure aligned to Nigeria’s energy transition ambitions.

    The commitment is being framed by government officials as support for the administration’s wider economic agenda and efforts to reverse years of declining oil production. Separate reporting also described the package as a potential lifeline to multiple idle assets, while emphasizing leadership and policy clarity as factors driving the decision.

    Echotitbits take: After years of divestment talk, this massive commitment from Shell is a vote of confidence. The challenge now lies in ensuring security for these assets to prevent the crude oil theft that plagued previous years.
    Source: The Punch – https://punchng.com/shell-ceo-hails-tinubus-leadership-pledges-20bn-investment-in-nigeria/ 2026-01-26

    Photo Credit: The Punch

  • Nigeria Moves to Terminate Rice Importation Windows to Protect Local Farmers

    Nigeria Moves to Terminate Rice Importation Windows to Protect Local Farmers

    Nigeria is moving to shut down rice import windows following a national policy review that reportedly found imports have created surplus supply, depressing prices and worsening losses for domestic farmers.

    Officials linked to the Presidential Food Systems Coordinating Unit reportedly stated that maize and rice farmers recorded negative margins during the 2025 wet season, driven by high production costs and weak sale prices. The government’s new direction is expected to prioritize local production while introducing price protection mechanisms to safeguard farmer livelihoods and preserve national food security.

    Supporters argue the policy reset will stabilize rural incomes and reduce exposure to import shocks. Critics caution that if local output cannot meet demand, consumers—particularly in urban centers—could face renewed price pressures. Separate reporting has also referenced national food balance figures indicating a notable surplus in late 2025.

    Echotitbits take: This is a return to protectionist policies. While it helps farmers, the government must ensure that local supply is actually sufficient to prevent a price spike for consumers in urban areas.
    Source: BusinessDay – https://businessday.ng/news/article/nigeria-to-shut-rice-import-windows-as-data-exposes-farmers-losses/ 2026-01-26

    Photo Credit: BusinessDay

  • Nigeria Emerges as Hub for Africa’s Top Content Streamers in 2026

    Nigeria Emerges as Hub for Africa’s Top Content Streamers in 2026

    New data from Twitch and Kick platforms for January 2026 indicates that Nigerian creators dominate Africa’s most-followed live streamers, occupying the majority of the continent’s top 10 positions. The shift reflects growing audience engagement and a broadening of content formats—from gaming to lifestyle and celebrity-driven programming.

    Analysts attribute the surge to rising digital participation and the increasing viability of streaming as a full-time career for young Nigerians. The momentum has also drawn interest from international brands seeking credible entry points into Africa’s youth demographic.

    Separate reporting has published lists of the highest-ranked streamers and described the trend as a transfer of “streaming leadership” from Southern Africa to West Africa, with Nigeria at the center. Industry observers say this is likely to intensify competition for advertising budgets as streamers become more influential within entertainment and pop culture.

    Echotitbits take: This is the new “Nollywood” of the digital age. As internet penetration increases, expect these streamers to rival traditional media for advertising revenue and cultural influence.
    Source: Pulse.ng – https://www.pulse.ng/story/africas-biggest-streamers-2026012414530720943  2026-01-26

    Photo Credit: Pulse.ng

  • Naira Gains in Official Market as CBN Interventions Boost Liquidity

    Naira Gains in Official Market as CBN Interventions Boost Liquidity

    The Nigerian naira opened the final week of January 2026 with modest gains against the US dollar in the official market, following reported Central Bank of Nigeria (CBN) interventions and improved foreign exchange liquidity.

    Market watchers say the spread between official and parallel market rates continues to narrow, a trend linked to recent efforts to attract foreign portfolio inflows and stabilize the currency. For import-reliant businesses, even incremental stability can ease cost planning and reduce pass-through inflation on raw materials.

    The CBN is expected to remain cautious, maintaining a tight monetary stance as inflation risks persist. Separate market reporting also characterized the gains as liquidity-driven, reinforcing the view that policy signaling and FX supply conditions will be decisive through Q1.

    Echotitbits take: Currency stability is the Holy Grail for the current economic team. If the Naira stays within this range, we might see a more significant drop in the cost of imported raw materials by the second quarter.
    Source: BusinessDay – https://businessday.ng/business-economy/article/naira-records-0-8-year-to-date-gain-as-reserves-grow-further/ 2026-01-26

    Photo Credit: BusinessDay

  • Strike Action Cripples FCTA as Workers Demand Removal of Minister Wike

    Strike Action Cripples FCTA as Workers Demand Removal of Minister Wike

    Workers of the Federal Capital Territory Administration (FCTA), backed by the Nigeria Labour Congress (NLC), have commenced an indefinite strike in Abuja. Protesters gathered at the National Industrial Court on January 26, 2026, demanding the removal of the FCT Minister amid unresolved labor disputes.

    Workers cite unpaid promotion arrears and insufficient working tools, framing the situation as a violation of their rights and welfare. The industrial action has reportedly disrupted administrative activities across the FCT, with labor leaders insisting the strike will continue until meaningful concessions are achieved.

    Separate coverage also referenced court-related developments and included statements supporting the legitimacy of the protest action. The “Wike must go” demand, however, elevates the dispute beyond a standard wage-and-welfare negotiation and into a politically sensitive confrontation.

    Echotitbits take: Minister Nyesom Wike is known for his hardline approach to administration, but this labor confrontation could slow down his ambitious infrastructure projects in Abuja. Negotiation is likely, but the “Wike must go” demand makes it a high-stakes political standoff.
    Source: TVC News – https://www.tvcnews.tv/wike-takes-striking-fcta-workers-to-court/ 2026-01-26

    Photo Credit: TVC News

  • Nigerian Stock Market Faces N395 Billion Loss Amid Profit-Taking

    Nigerian Stock Market Faces N395 Billion Loss Amid Profit-Taking

    The Nigerian Exchange (NGX) recorded a downturn last week as market capitalization fell by an estimated N395 billion, driven largely by intensified profit-taking following a period of sustained gains.

    The All-Share Index closed lower, reflecting softer sentiment across major sectors including banking, consumer goods, and industrial products. Even with the overall decline, selective counters in insurance and oil and gas reportedly posted modest gains, suggesting pockets of bargain hunting.

    Market analysts describe the move as a normal correction typical of extended rallies, with expectations that sentiment may stabilize as listed companies begin releasing full-year financial results. Separate reporting also cited the week’s closing market capitalization figure and noted that investor positioning remains sensitive to earnings and macro signals.

    Echotitbits take: This is a classic “sell-off” period. Smart investors will be looking for undervalued stocks during this dip, especially in the banking sector, which remains fundamentally strong despite the index drop.
    Source: Ripples – https://www.ripplesnigeria.com/ngx-roundup-investors-lose-n395bn-as-equity-market-continues-to-boom/  2026-01-26

    Photo Credit: Ripples