Echotitbits – Nigeria News

Tag: Echotitbits

  • Tinubu Says Nigeria’s Real Wealth Is Citizens’ Creativity, Not Oil

    Tinubu Says Nigeria’s Real Wealth Is Citizens’ Creativity, Not Oil

    Photo Credit:Punch Newspapers

    President Bola Tinubu has declared that Nigeria’s future prosperity depends more on the creativity and innovation of its citizens than on crude oil revenues. Speaking at a public event, he argued that human capital, entrepreneurship and digital skills are the true drivers of a $1‑trillion economy, while natural resources should be treated as enablers rather than the core of national wealth.

    Tinubu urged policymakers, investors and young people to embrace productivity, technology and value‑addition across sectors, pledging continued reforms to remove obstacles facing businesses and innovators. The remarks reinforce the administration’s push for economic diversification and investments in education, tech talent and creative industries.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • Tinubu Sends 2026–2028 MTEF/FSP to Senate for Approval

    Tinubu Sends 2026–2028 MTEF/FSP to Senate for Approval

    Photo Credit:The Nation

    President Bola Tinubu has transmitted the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper to the Senate, seeking expeditious approval ahead of the 2026 budget presentation. The document, already cleared by the Federal Executive Council, proposes a crude benchmark of $64.85 per barrel and an exchange rate of ₦1,512 to the dollar for the 2026 cycle.

    Deputy Senate President Jibrin Barau referred the framework to the Finance Committee with a deadline for its report. Under Nigeria’s Fiscal Responsibility Act, the MTEF/FSP provides the foundation for annual budgets, guiding revenue targets, borrowing limits and expenditure priorities across sectors.

    Source: The Nation – 12 Dec 2025

    2025-12-12 10:00:00 The Nation – 12 Dec 2025 2025-12-12

  • US Seizes Nigerian-Owned Supertanker Over Alleged Crude Theft

    US Seizes Nigerian-Owned Supertanker Over Alleged Crude Theft

    Photo Credit:Vanguard

    The United States Coast Guard, working with the US Navy, has intercepted a Nigerian‑owned supertanker, Skipper, over allegations of crude oil theft, piracy and other transnational crimes. The Very Large Crude Carrier, reportedly linked to Nigeria‑based Thomarose Global Ventures Ltd. but registered to a Marshall Islands company, was said to be flying Guyana’s flag without authorisation at the time of seizure.

    US security sources indicated that the operation was conducted under American law‑enforcement authority, with investigations extending to suspected drug‑trafficking and money‑laundering networks. Nigerian maritime experts say the incident raises serious questions about the country’s port‑state control regime and the broader impact of crude theft, which observers estimate costs Nigeria billions of dollars annually.

    Source: Vanguard – 12 Dec 2025

    2025-12-12 10:00:00 Vanguard – 12 Dec 2025 2025-12-12

  • US Lawmakers to Brief Trump on Alleged Killings in Nigeria

    US Lawmakers to Brief Trump on Alleged Killings in Nigeria

    Photo Credit:Punch Newspapers

    A United States congressional delegation led by Congressman Riley Moore has concluded a fact‑finding trip to Nigeria over alleged genocidal attacks on Christian communities and is expected to brief former President Donald Trump before the end of the month. The team met internally displaced persons, survivors, religious leaders and top Nigerian officials, including the National Security Adviser and Attorney‑General.

    Moore, speaking in a broadcast interview, described testimonies from victims as some of the most disturbing of his career and alleged that extremist groups were behind many of the killings. The planned briefing underscores how Nigeria’s internal security challenges are increasingly featuring in US political debates and among diaspora advocacy groups.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • Bird Strike Strands United Nigeria Passengers in Abuja

    Bird Strike Strands United Nigeria Passengers in Abuja

    Photo Credit:Punch Newspapers

    Passengers of United Nigeria Airlines were left stranded at the Abuja airport after a bird strike reportedly damaged an aircraft’s engine, forcing cancellation of a scheduled flight. Frustrated travellers accused the airline of poor communication and inadequate alternative arrangements as they struggled to rebook or secure refunds.

    The incident has reignited concerns about runway wildlife control, safety management and consumer protection in Nigeria’s aviation sector. Regulators are being urged to enforce stricter compensation and communication standards to protect passengers and minimise economic losses from avoidable delays.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • Customs Extends Fast-Track Scheme Deadline for Importers

    Customs Extends Fast-Track Scheme Deadline for Importers

    Photo Credit:Punch Newspapers

    The Nigeria Customs Service has extended the deadline for importers participating in its fast‑track cargo clearance scheme to January, offering more time to regularise documentation and obligations. The initiative, which grants compliant traders accelerated clearance, is part of reforms to decongest ports and improve the ease of doing business.

    Customs spokesperson Abdullahi Maiwada said the extension followed appeals from operators and aims to prevent disruptions to supply chains during the festive season. He added that only importers with strong compliance records will continue to benefit, reinforcing the link between regulatory discipline and trade facilitation.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • Dangote Unveils N1tn Education Fund for 1.3 Million Students

    Dangote Unveils N1tn Education Fund for 1.3 Million Students

    Photo Credit:Punch Newspapers

    Africa’s richest man, Aliko Dangote, has announced a N100‑billion‑per‑year education initiative that will run for 10 years and support about 1.3 million Nigerian students across all 774 local government areas. The scheme, under the Dangote Education Fund, will cover undergraduates, technical students and secondary‑school girls, with special focus on STEM and areas with high out‑of‑school rates.

    The programme includes scholarships, tools for technical trainees and large‑scale teacher‑training support, backed by a digital, merit‑based verification and disbursement system. Dangote said he is committing a significant portion of his personal wealth to the foundation, while government officials hailed the initiative as a major boost for human‑capital development.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • Nigeria Issues First Gas Trading Licence to Deepen Market Liquidity

    Nigeria Issues First Gas Trading Licence to Deepen Market Liquidity

    Photo Credit:Punch Newspapers

    The Federal Government has approved the country’s first gas trading licence aimed at boosting liquidity and transparent pricing in the domestic gas market. The Nigerian Midstream and Downstream Petroleum Regulatory Authority said the new framework will allow licensed entities to aggregate and trade gas volumes across multiple contracts and buyers.

    Officials believe the regime will attract fresh investments into gas infrastructure, enhance market competition and support power generation, industries and household consumption. The step also aligns with Nigeria’s gas‑as‑transition‑fuel strategy and broader plans to diversify revenues away from crude oil.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • PZ Cussons Suspends Africa Exit Plan, Bets on Nigeria’s Recovery

    PZ Cussons Suspends Africa Exit Plan, Bets on Nigeria’s Recovery

    Photo Credit:Punch Newspapers

    Consumer goods giant PZ Cussons has withdrawn its earlier plan to exit Africa, saying it now sees a path to recovery and growth in Nigeria after a period of macroeconomic headwinds. The company cited stabilising reforms, improving foreign‑exchange conditions and signs of demand recovery as reasons for maintaining its Nigerian operations.

    Management explained that restructuring efforts, portfolio optimisation and better pricing strategies are helping to restore profitability. The decision is expected to reassure investors, protect local jobs and sustain competition in Nigeria’s fast‑moving consumer goods market, which has been under pressure from inflation and currency depreciation.

    Source: Punch Newspapers – 12 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 12 Dec 2025 2025-12-12

  • Nigeria Begins Recruitment of 50,000 Police Constables

    Nigeria Begins Recruitment of 50,000 Police Constables

    Photo Credit:The Nation

    The Police Service Commission, in collaboration with the Nigeria Police Force, has commenced recruitment of 50,000 constables in line with President Tinubu’s directive to strengthen community policing and internal security. Applications will be accepted online between 15 December 2025 and 25 January 2026, with separate requirements for general duty and specialist cadres.

    The Commission emphasised that the process will be merit‑based and free of charge, warning applicants against paying middlemen. The expansion is expected to improve police presence nationwide, reduce response times and create thousands of jobs for young Nigerians, while boosting efforts to secure businesses and investments.

    Source: The Nation – 12 Dec 2025

    2025-12-12 10:00:00 The Nation – 12 Dec 2025 2025-12-12