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The Central Bank of Nigeria (CBN) has reduced the country’s benchmark interest rate by 50 basis points to 26.50 per cent from 27 per cent. The decision was announced on Tuesday at the end of the apex bank’s 304th Monetary Policy Committee (MPC) meeting held in Abuja. The Monetary Policy Rate (MPR), which serves as
Some residents of Port Harcourt have thrown their weight behind President Bola Tinubu’s call for the establishment of state police as a measure to tackle insecurity across the country. Speaking with our reporter, supporters of the proposal said creating state-controlled police formations would help strengthen security at the grassroots and improve rapid response to local
A real estate expert has projected uneven growth in Nigeria’s property market in 2026, citing economic uncertainties and pre-election spending patterns. According to the expert, while some urban centres may witness increased investments, other areas could experience slower activity. He explained that infrastructure development and diaspora remittances would likely drive growth in selected locations, especially
The Federal Government has announced plans to adopt the aerotropolis model to drive growth in the aviation industry. The strategy involves developing airport cities that integrate business hubs, logistics centres, and commercial activities around major airports. Authorities also revealed that a global aviation summit would soon be hosted to attract investors, aircraft lessors, and international
The Federal Government has unveiled plans to commit five per cent of the nation’s Gross Domestic Product annually to strengthen the manufacturing sector. The initiative is designed to expand local production, increase exports, and create employment opportunities. Officials said the policy would prioritise sectors such as solid minerals, construction materials, and light manufacturing to reduce
More than three decades after seventeen Ogoni communities in Tai Local Government Area were sacked during the military era, residents say they are still battling hardship, neglect, and the absence of basic social amenities. Speaking on behalf of the women in Lekuma community, Baridi Deekor recalled the pain and devastation caused by the 1994 military
The Chairman of Ikwerre Local Government, Charles Wobodo, has reiterated his administration’s dedication to safeguarding lives and property across the council. Wobodo made the declaration during a meeting with the Igwuruta Council of Chiefs and Elders, commending the traditional leaders for presenting resolutions aimed at promoting peace and development in the community. He assured the
The apex Ogoni socio-cultural organisation, KAGOTE, has dismissed reports suggesting a surge in insecurity in Khana Local Government Area of Rivers State. Spokesperson of KAGOTE, Menele Nzidee, clarified that some of the security threats recorded in Khana were largely reprisal attacks between rival gang groups, rather than a widespread breakdown of law and order. He
The immediate past Chairman of Obio/Akpor Local Government Area, Chijioke Ihunwo, has denied allegations of land grabbing levelled against him by the council authority. Ihunwo, who spoke through his lawyer, Obidinma Obidinma, criticised the Obio/Akpor Local Government Council for acting on a petition over a disputed piece of land without first obtaining his side of
The Rivers State University Teaching Hospital has unveiled a Service Excellence Unit aimed at improving patient care and service delivery. According to the hospital’s management, the newly established unit will serve as a dedicated platform to receive and address complaints, feedback, and concerns from patients and their families. Speaking at the unveiling ceremony, the Chief
