Former Vice President Atiku Abubakar has called for the return of Nigeria’s fuel subsidy, arguing for accountability in managing petroleum revenues. President Bola Tinubu’s administration rejected the proposal, while Nyesom Wike criticised Atiku’s position. The policy dispute has potential implications for inflation, public finances and economic activity.
ExxonMobil’s Nigerian affiliate has commenced the $1 billion Usan infill project after an ultra-deepwater drillship arrived in the Niger Delta. The project is expected to support additional oil production of up to 40,000 barrels per day within 18 months, subject to execution and operational progress.
Successful bidders in Nigeria’s latest oil and gas licensing round have started securing awarded blocks and making bonus payments. The Nigerian Upstream Regulatory Commission requires winners to complete compliance within 90 days and has released the official list of successful bidders.
The article examines how insecurity is undermining food security by disrupting farming communities and agricultural output in Nigeria. It argues that restoring security and increasing production are necessary to strengthen food supply, with potential implications for agricultural activity and related listed sectors.
The World Bank plans to support electricity connections for 32 million Nigerians and broadband access for 58 million by 2032 under a new country framework. The initiative is intended to expand infrastructure coverage and support private-sector growth, with potential relevance to Nigeria’s utilities and ICT sectors.
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