Echotitbits – Nigeria News

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  • Nigeria Posts ₦12 Trillion Trade Surplus as Non-Oil Exports Jump

    Nigeria Posts ₦12 Trillion Trade Surplus as Non-Oil Exports Jump

    Data released by Vanguard indicates Nigeria recorded a historic ₦12 trillion trade surplus in 2025, driven in part by a reported 21% rise in non-oil exports.

    Officials attributed the improvement to stronger performance in agriculture, processed solid minerals and select manufactured goods, positioning the outcome as a milestone for diversification.

    The stronger trade position is also expected to ease some FX pressure, though the broader macro outlook still depends on inflation and investment flows.

    **Echotitbits take:** The surplus is encouraging, but the public will measure success by jobs and cheaper goods. Watch for export incentives, port efficiency reforms and logistics upgrades that can keep non-oil growth durable.
    Source: Vanguard — https://www.google.com/amp/s/www.vanguardngr.com/2026/01/nigeria-records-n12trn-trade-surplus-21-non-oil-export-growth-in-h1-2025-trade-ministry/amp/ 2026-01-08

    Photo Credit: Vanguard

  • NERC Says Togo, Niger and Benin Owe Nigeria ₦25bn for Electricity Supply

    NERC Says Togo, Niger and Benin Owe Nigeria ₦25bn for Electricity Supply

    As disclosed by The Punch, the Nigerian Electricity Regulatory Commission (NERC) said Togo, Niger and Benin Republic owe about ₦25 billion for power supplied under regional agreements.

    The rising arrears have renewed debate about exporting electricity on credit while Nigeria faces domestic supply constraints and tariff pressures.

    NERC said discussions are ongoing on payment plans, warning that persistent non-payment could affect supply volumes.

    **Echotitbits take:** Recovering these debts matters for sector liquidity and stability. Watch for tougher contract terms—especially pre-payment structures—and clearer alignment between regional commitments and domestic power needs.
    Source: The Punch — https://www.google.com/amp/s/punchng.com/power-gencos-invoices-fall-n80-56bn-on-weak-demand/ 2026-01-08

    Photo Credit: The Punch

  • PwC Forecasts 4.3% GDP Growth for Nigeria in 2026, Cites Reforms and Digital Shift

    PwC Forecasts 4.3% GDP Growth for Nigeria in 2026, Cites Reforms and Digital Shift

    Insights from The Punch show PwC Nigeria is projecting a 4.3% expansion in Nigeria’s GDP in 2026, pointing to energy sector recovery and ongoing digital transformation in financial services.

    The report also linked growth prospects to sustained reform momentum, including fiscal adjustments and improvements in oil-region security.

    PwC flagged risks around inflation and external shocks, warning that poorly managed transitions could squeeze SMEs.

    **Echotitbits take:** The projection is achievable—but only if reforms translate into investment, stable prices and inclusive growth. Watch for policy clarity and execution speed, especially around taxes, FX and energy.
    Source: BusinessDay — https://businessday.ng/business-economy/article/nigerias-tax-to-gdp-ratio-seen-rising-in-2026-as-reforms-kick-in/ 2026-01-08

    Photo Credit: BusinessDay

  • FG Announces National AI Centre of Excellence to Drive Homegrown Innovation

    FG Announces National AI Centre of Excellence to Drive Homegrown Innovation

    In a dispatch by Premium Times, the Federal Ministry of Communications, Innovation and Digital Economy announced plans to establish Nigeria’s first National Artificial Intelligence (AI) Centre of Excellence.

    The centre is expected to support research and practical AI applications in areas such as agriculture, healthcare and education, with a collaborative model involving academia and the private sector.

    Officials also spoke about funding support for startups building solutions tailored to Nigeria’s local needs, including language and productivity tools.

    **Echotitbits take:** This could be transformative—but only if the basics (power, connectivity, and stable funding) are handled. Watch for where the centre will be hosted, how grants are administered, and whether talent pipelines are built beyond Abuja and Lagos.
    Source: The Punch — https://punchng.com/fg-to-establish-ai-centre-at-unijos/ 2026-01-08

    Photo Credit: The Punch

  • Court Grants Bail to Ex-AGF Malami, Wife and Son in ₦8.7bn Money Laundering Case

    Court Grants Bail to Ex-AGF Malami, Wife and Son in ₦8.7bn Money Laundering Case

    A briefing from Premium Times reports a Federal High Court granted bail to former Attorney General Abubakar Malami, alongside his wife and son, in a case involving alleged ₦8.7 billion money laundering.

    The court reportedly set bail conditions at ₦500 million each, with sureties and passport surrender requirements as proceedings continue.

    The defence has disputed the allegations, while prosecutors insist the evidence is strong.

    **Echotitbits take:** Bail isn’t a verdict, but the conditions signal the court sees the allegations as serious. Watch for the next hearing dates and whether prosecutors bring key witnesses and financial trail evidence promptly.
    Source: X – https://x.com/TheNationNews/status/2008881048998822179 2026-01-08

    Photo Credit: X

  • Lagos Welcomes Stars as 9th AFRIMA Kicks Off With Music, Culture and Business Talks

    Lagos Welcomes Stars as 9th AFRIMA Kicks Off With Music, Culture and Business Talks

    Reporting from The Nation indicates Lagos has begun hosting the 9th All Africa Music Awards (AFRIMA), with multiple leading artistes arriving for a week of performances, tours and industry sessions.

    Organisers say beyond the awards, the festival is designed to strengthen Africa’s music business ecosystem, including discussions around intellectual property and fair royalties.

    Lagos State officials are also positioning the event as a tourism and creative-economy showcase for the city.

    **Echotitbits take:** AFRIMA is major soft power for Nigeria’s creative industry. Watch for policy conversations around rights management—because global popularity won’t translate to wealth for artistes without stronger, enforceable structures.
    Source: Tribune – https://tribuneonlineng.com/lagos-hosts-9th-afrima-as-16-african-artistes-headline-week-long-event/ 2026-01-08

    Photo Credit: Tribune

  • EFCC Alleges Coordinated Media Campaign to Undermine Ongoing Investigations

    EFCC Alleges Coordinated Media Campaign to Undermine Ongoing Investigations

    Evidence compiled by Vanguard suggests the EFCC has raised an alarm over what it called a coordinated ‘campaign of calumny’ allegedly sponsored by suspects and other actors to discredit the agency and its leadership.

    The commission said the narratives are designed to frame investigations as politically motivated and to pressure the agency away from prosecutions and asset recovery efforts.

    EFCC officials urged the public to be cautious about unverified claims circulating online.

    **Echotitbits take:** Public smear campaigns often spike when investigations get close to sensitive targets. Watch for whether EFCC releases supporting details, and how institutions manage the balance between transparency and ongoing case integrity.
    Source: PmNews – https://pmnewsnigeria.com/2026/01/08/efcc-alleges-coordinated-smear-campaign-ahead-of-2027-elections/ 2026-01-08

    Photo Credit: PmNews

  • FG Targets Solid Minerals Boom as Dele Alake Pushes New Mining Roadmap

    FG Targets Solid Minerals Boom as Dele Alake Pushes New Mining Roadmap

    A review by Leadership highlights Federal Government plans to reposition solid minerals as a major revenue driver, with Minister Dele Alake outlining reforms aimed at modernising mining governance and attracting large-scale investment.

    The roadmap prioritises boosting the sector’s GDP contribution, tightening regulation, and clamping down on illegal mining through stronger enforcement mechanisms.

    Officials have also discussed value-chain capture to ensure Nigeria benefits beyond raw extraction.

    **Echotitbits take:** The opportunity is huge, but enforcement and community relations will determine success. Watch for credible licensing transparency, environmental safeguards, and whether the proposed enforcement units are properly funded and accountable.
    Source: fmino – https://fmino.gov.ng/fg-plots-new-roadmap-for-solid-minerals-development/ 2026-01-08

    Photo Credit: fmino

  • Questions Grow Over Civilian Impact and Strategy After Reported US Airstrikes in Sokoto

    Questions Grow Over Civilian Impact and Strategy After Reported US Airstrikes in Sokoto

    As documented by The Guardian, concerns are being raised about the long-term impact of reported U.S. airstrikes targeting the ‘Lakurawa’ insurgent group in Sokoto State.

    While the strikes were said to have hit militant targets, local accounts have raised questions about debris and potential effects on civilian assets such as farmlands.

    Analysts say airpower can degrade leadership but must be matched with coordinated ground operations to prevent regrouping.

    **Echotitbits take:** Foreign strikes are tactically useful but politically risky if communities feel harmed or unheard. Watch for follow-up security operations, transparent damage assessments, and local engagement to avoid fresh grievances.
    Source: The Guardian Nigeria – https://guardian.ng/news/sokoto-airstrikes-nigerias-diplomatic-appeals-fall-on-deaf-ears-as-us-clings-to-christian-genocide-narrative/ 2026-01-08

    Photo Credit: The Guardian Nigeria

  • Zamfara Government Accuses Defence Minister Matawalle of Politicising Security Operations

    Zamfara Government Accuses Defence Minister Matawalle of Politicising Security Operations

    Insights shared by Daily Post indicate the Zamfara State Government has accused Minister of State for Defence Bello Matawalle of using federal security agencies to intimidate political opponents.

    State officials claimed recent operations disproportionately affected opposition figures, while the minister reportedly denied wrongdoing and said actions were focused on tackling banditry.

    The dispute reflects deeper political rivalries within the state as insecurity remains a major public concern.

    **Echotitbits take:** When security becomes politicised, citizens lose. Watch for any presidential mediation, independent oversight of operations, and whether state–federal cooperation on intelligence and enforcement deteriorates or improves.
    Source: TheSun – https://thesun.ng/zamfara-govt-accuses-defence-minister-nsas-office-of-hounding-opposition/ 2026-01-08

    Photo Credit: TheSun