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    ALMOND 94.3 FM Ibadan

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WITH SUBSIDY, NAIRA’LL EXCHANGE AT #4000/$-OYEDELE

The Minister of Finance and Coordinating Minister for the Economy, Taiwo Oyedele, has warned that restoring petrol subsidy could weaken the naira to between N3,000 and N4,000 per dollar, trigger capital flight and undermine investor confidence. Oyedele gave the warning at a press briefing during the International Monetary Fund and World Bank Annual Meetings in Bangkok, Thailand. He said any indication that the Federal Government was considering a return to subsidy could unsettle financial markets, increase borrowing costs and worsen […]

today20/10/2026 10

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NATIONAL GRID CRASHES 81% TO 675MW, AS 9 PLANTS GO OFF

Nigeria’s national grid experienced a sharp drop in electricity generation on Monday, with supply falling by 81.5 per cent from 3,647 megawatts (MW) at noon to 675MW by 1pm following disruptions affecting several power plants. Data from the Nigerian Independent System Operator (NISO) showed that the number of power plants supplying electricity to the grid declined significantly during the incident. Affected plants included Azura, Egbin, Jebba and Kainji hydroelectric power plants. The development prompted electricity distribution companies, including Abuja Electricity […]

today20/10/2026 5

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2027: FOLARIN BURIES THE HATCHET, BACKS ALLI FOR OYO GOVERNMENT

Former Senate Leader, Teslim Folarin, has declared support for the All Progressives Congress governorship candidate in Oyo State, Sharafadeen Alli, ahead of the 2027 general elections, calling on aggrieved party members to unite for the party’s success. Folarin made the declaration on Monday while addressing supporters who welcomed him to Ibadan. He also raised Alli’s hand in a show of support, signalling a move towards reconciliation within the party following disagreements over the governorship primary. The former Senate Leader had […]

today20/10/2026 3

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Tinubu Says No Regrets Over Fuel Subsidy Removal

President Bola Tinubu has reaffirmed his decision to remove petrol subsidy, insisting that Nigeria will not return to the policy despite concerns over the economic hardship facing citizens. Tinubu spoke on Monday at an event organised by the City Boy Movement and the Relax-Tinubu-Is-Fixing-Nigeria movement in support of his 2027 re-election bid. He said the country was facing severe financial challenges when he assumed office in May 2023, leaving the government with little capacity to sustain the subsidy regime. The […]

today20/10/2026 5

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NLC STRIKE ULTIMATUM FUELS LABOUR –FG TENSION

The Nigeria Labour Congress (NLC) has maintained its two-week ultimatum to the Federal Government, demanding a reduction in petrol prices and fresh negotiations on the national minimum wage amid rising living costs. NLC President, Joe Ajaero, said on Monday in Abuja that Nigerian workers were still facing severe economic hardship despite the implementation of the N70,000 minimum wage in 2024. He argued that rising food and transportation costs had eroded workers’ purchasing power, leaving many struggling to meet basic household […]

today20/10/2026 6

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SERAP SUES INEC OVER #126BN ELECTORAL FUNDS

The Socio-Economic Rights and Accountability Project (SERAP) has sued the Independent National Electoral Commission (INEC) over its alleged failure to account for more than N126.46bn appropriated for electoral operations. The suit, filed at the Federal High Court in Abuja, seeks an order compelling INEC to disclose how the funds were spent, including details of payments, contractors, beneficiaries and the procurement of election materials, equipment and vehicles. SERAP said its action followed findings contained in the 2023 audited report of the […]

today19/10/2026 6

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2027:WIKE ,LAWMAKERS MEET FUBARA IN RIVERS

Minister of the Federal Capital Territory, Nyesom Wike, on Sunday met with Rivers State Governor Siminalayi Fubara at the governor’s private residence in Port Harcourt, alongside members of the state House of Assembly and local government chairmen. The meeting is seen as part of ongoing reconciliation efforts between the two political camps following a prolonged rift that divided the state’s political leadership. The delegation included the Speaker of the House of Assembly, Martin Amaewhule, chairmen of the state’s 23 local […]

today19/10/2026 6

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FG’s Petrol Discount Could Cost Nigeria N1.77tn

Nigeria’s petrol price relief package could cost the country up to N1.77tn, representing 0.4 per cent of its Gross Domestic Product, according to BMI, a research firm owned by Fitch Solutions. In its latest report titled Fuel Discount Mechanism Raises Macro Risks in Nigeria, the firm warned that prolonged implementation of the intervention could worsen the country’s fiscal position, reduce government revenue and put additional pressure on the naira. The report followed the Federal Government’s announcement of a 30-day petrol […]

today19/10/2026 4

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#250BN NLNG ROW:PRESIDENCY FAULTS MAKINDE,GOVERNMENT DEMANDS ANSWERS

The Presidency and Oyo State Governor, Seyi Makinde, have exchanged words over the alleged withholding of Nigeria LNG Limited (NLNG) dividends meant for states and local governments. The Presidency, through the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Sunday dismissed Makinde’s claim that each state was entitled to N250bn in NLNG dividends, which he alleged would not be paid until after the 2027 general elections. Onanuga argued that paying N250bn to each of the 36 […]

today19/10/2026 3

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