Day: August 16, 2026

Nigeria Cuts Oil, Borrowing Dependence as Autonomous FX Inflows Hit $70.54bn — TSF

Lukman Laleye Babalola

The Tinubu Stakeholders Forum (TSF) has said Nigeria is gradually reducing its dependence on crude oil earnings, government borrowing and Central Bank interventions to meet its foreign exchange needs, following a significant rise in autonomous FX inflows.   The Forum said autonomous foreign exchange inflows rose to $70.54 billion in 2025, representing a 25.12 per cent increase from the $56.38 billion recorded in 2024.   In a statement signed by its Chairman, Ahmad Sajoh, and Secretary, Danjuma Sada, TSF said autonomous inflows accounted for 64.21 per cent of the total…

Pay Rise for Military Personnel Will Boost Morale, Strengthen National Security — TMV

Lukman Laleye Babalola

The Tinubu Media Volunteers (TMV) has commended the Federal Government for approving salary increases for personnel of the Nigerian Armed Forces, describing the development as a major morale booster that will strengthen the country’s ongoing efforts to tackle insecurity.   In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the group described the salary increase as one of the dividends of the reforms being implemented by the administration of President Bola Ahmed Tinubu.   TMV noted that the Federal Government had announced salary increases ranging between…

Nigeria Stock Market Boom Signals Improving Economy Under Tinubu — TMSG

Lukman Laleye Babalola

The Tinubu Media Support Group (TMSG) has described the sustained growth of Nigeria’s stock market as a strong indication that the country’s economy is stabilising and gaining investor confidence under President Bola Ahmed Tinubu.   The group noted that the market capitalisation of the Nigerian stock market, which stood at about N30 trillion when President Tinubu assumed office in May 2023, has risen to over N155 trillion as of August 2026.   In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the TMSG said the significant…

Tinubu’s Deep Offshore Framework to Position Nigeria as Africa’s Leading Upstream Investment Hub — TDF

Lukman Laleye Babalola

The Democratic Front (TDF) has endorsed President Bola Ahmed Tinubu’s approval of a new investment framework for Nigeria’s deep offshore oil and gas sector, describing the initiative as a bold step towards unlocking the country’s vast petroleum potentials and attracting fresh investments. TDF said the framework could unlock an estimated $50 billion in new investments in the nation’s oil sector and strengthen Nigeria’s position as a leading destination for upstream investments in Africa. In a statement signed by its Chairman, Danjuma Muhammad, and Secretary, Wale Adedayo, the group said the…

IMPI: Nigerians Deserve Credit as Tinubu’s Reforms Put Economy on Recovery Path

Lukman Laleye Babalola

The Independent Media and Policy Initiatives (IMPI), an Abuja-based think tank, has commended Nigerians for their resilience, adaptability and patriotism in the face of the economic challenges triggered by the ongoing reforms of the President Bola Ahmed Tinubu administration.   The group described Nigerians as the “ultimate heroes” and actual executors of the reforms, saying their sacrifices and resilience have been critical to the gradual turnaround in the nation’s economic fortunes.   In a policy statement released on July 31, 2026, titled “Nigerians as Actual Executors of Tinubu’s Reforms as…

JUSUN Congratulates Babangida at 85, Hails His Contributions to Nigeria’s Unity

Uthman Baba-Naseer Minna

The Judiciary Staff Union of Nigeria (JUSUN), Niger State Council, has congratulated former Military President, General Ibrahim Badamasi Babangida, on the occasion of his 85th birthday anniversary.   In a congratulatory message signed by the State Chairman of JUSUN, Barrister Mahmud Al-Ameen Muye, and made available to journalists in Minna at the weekend, the union described Babangida as an elder statesman whose leadership and contributions have left a significant mark on Nigeria’s history.   Muye described the former military leader as an illustrious son of Niger State who played a…

FG Reaffirms Commitment to Security, Diaspora Engagement, Strategic Partnerships

Lukman Laleye Babalola

The Federal Government has reaffirmed its commitment to strengthening national security, harnessing the Nigerian diaspora as a critical asset for development, and deepening strategic partnerships with countries around the world. Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, stated this while speaking at the Dinner Night of the Nigerian Diaspora Economic Conference in Toronto, Canada. Enikanolaiye acknowledged that security remains one of Nigeria’s major challenges, assuring that the Federal Government is taking comprehensive measures to address the threats confronting the country. He said the administration of President Bola Ahmed…

FCT Police Order Crackdown on One-Way Driving, Traffic Robbery

Lukman Laleye Babalola

The Federal Capital Territory (FCT) Police Command has ordered a strict enforcement of traffic laws across Abuja, warning motorists against driving against traffic, popularly known as “one-way,” and other dangerous driving practices. The Commissioner of Police, FCT Command, CP Ahmed Muhammed Sanusi, gave the directive on Sunday, August 16, 2026, while charging all Divisional Police Officers and Motor Traffic (MOTOPOL) personnel to enforce traffic regulations and ensure the arrest and prosecution of offenders. The command said the directive is aimed at promoting road safety, ensuring the free flow of traffic…

Nigerian Navy Disrupts Three Illegal Refining Sites, Recovers 85,000 Litres of Suspected AGO in Rivers

Lukman Laleye Babalola

The Nigerian Navy has intensified its crackdown on crude oil theft and illegal refining activities in the Niger Delta, disrupting three illegal refining sites and recovering approximately 85,000 litres of products suspected to be illegally refined Automotive Gas Oil (AGO) in Rivers State. Navy Captain Abiodun Folorunsho, Director of Naval Information, disclosed this in a statement on Saturday, saying the operation was carried out by personnel of the Nigerian Navy Ship (NNS) PATHFINDER under Operation DELTA SENTINEL in the Egbema axis of Ogba-Egbema-Ndoni Local Government Area of Rivers State. According…

OSUN HAS SPOKEN: THE BITTER TRUTH APC MUST HEAR BEFORE 2027 By Dr. Dayo Israel

Emporium Reporters

The Osun governorship election has been won and lost. Governor Ademola Adeleke of the Accord Party has been declared re elected with 511,067 votes, defeating our candidate, Bola Oyebamiji, who received 444,815 votes. That margin is substantial enough to demand honest reflection, not excuses, blame shifting or the familiar ritual of assembling another committee whose report may never change how we campaign.   As painful as the outcome is for members of our party, particularly those who invested their time, resources and emotions in the campaign, democracy requires that we…