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Nigeria’s Vessel Market Surges to $44 Million, Eyes $615 Million by 2035

Nigeria’s maritime sector is gaining significant momentum as new data reveals that the country’s vessel market has hit $44 million, making it Africa’s largest vessel importer and one of its fastest-growing producers. According to recent trade statistics, Nigeria accounted for $26 million—nearly 25%—of Africa’s total vessel import value, solidifying its position as a continental leader in maritime…

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Nigeria’s GDP Rebased to ₦372.8 Trillion, Debt-to-GDP Ratio Drops Significantly

In a major recalibration of Nigeria’s economic outlook, the National Bureau of Statistics (NBS) has rebased the country’s Gross Domestic Product (GDP) to ₦372.8 trillion ($243.5 billion) for 2024, representing a 41.7% increase from previous estimates. This move has not only realigned the country’s economic metrics with current realities but has also resulted in a notable reduction of the national…

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Nigeria Launches National Palm Oil Traceability Framework to Slash Imports and Empower Farmers

In a bold move to revamp one of its most historically significant agricultural sectors, the Federal Government of Nigeria has launched a National Palm Oil Traceability Framework aimed at reducing the country’s $600 million annual palm oil import bill. The new initiative, officially unveiled by the Ministry of Agriculture and Food Security, seeks to modernize palm oil production, promote ethical…

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Nigeria Bids to Host First African Formula 1 Grand Prix Since 1993

Abuja’s Grand Ambition Could Position Nigeria as Africa’s Motorsport PowerhouseBy Xamblog.com In a bold and historic move, Nigeria has officially submitted a bid to host a Formula 1 Grand Prix in Abuja, a decision that, if approved, would make Nigeria the first African country to stage the event since South Africa in 1993. The ambitious proposal is being spearheaded under the Renewed Hope…

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Locally Made Drones Boost Nigeria’s Anti-Terror Operations

Damisa UAVs mark a technological leap for national defense and local industryBy Xamblog.com In a significant advancement for national security and technological independence, Nigeria’s military has begun deploying locally manufactured combat drones—notably the Damisa UAV—to support anti-terrorism and surveillance operations across the country. These homegrown drones are now playing a pivotal role…

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Hunger Crisis Deepens in Northeast Nigeria as Insecurity Hampers Farming

Red Cross intervention underway, but lean season loomsBy Xamblog.com Hunger is tightening its grip on Northeast Nigeria, particularly in conflict-affected communities such as Dikwa in Borno State, where thousands of families are going multiple days without food. The region, long plagued by insurgency and displacement, is now facing worsening food insecurity as farmers abandon their fields and…

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Nigerian Stock Market Rallies, Investors Gain ₦1.44 Trillion in One Day

The Nigerian stock market witnessed a major rebound this week as investors recorded a ₦1.44 trillion gain in a single trading session, underscoring renewed investor confidence and positive sentiment in key economic sectors. The Banking sector led the rally with an impressive 7.02% gain, driving the overall surge on the Nigerian Exchange (NGX). This substantial one-day jump adds fresh momentum to…

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Nigeria Advances in Local Arms Production Amid Fresh Security Gains

In a major boost to national defense, Nigeria has begun local production of military-grade bombs and surveillance equipment, a development hailed by experts as a strategic step toward self-reliance in security operations. This effort comes alongside recent successful rescue operations in Edo and Taraba States, where 31 kidnap victims were freed by the Nigerian Police Force. These developments…

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Dangote Unveils Plans for Nigeria’s Biggest Deep Seaport in Ogun State

Olokola Port to Boost LNG Exports and Industrial Expansion Africa’s richest man, Aliko Dangote, has officially submitted development plans to construct what is set to become Nigeria’s largest and deepest seaport in Olokola, Ogun State. The ambitious project, once approved, will not only transform Nigeria’s maritime infrastructure but also revive industrial activities across the Southwest. The…

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National Mourning for Former President Muhammadu Buhari

Tributes Pour In as Nigeria Bids Farewell to a Statesman Nigeria is in national mourning today as the country honors the passing of former President Muhammadu Buhari, who died on Sunday in London at the age of 82. In recognition of his service and leadership, the Federal Government has declared a public holiday, with flags flown at half-mast across the nation. Buhari’s burial is scheduled for…

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Nigeria and EU Launch €20M Cultural Initiative to Boost Creative Economy and Unity

 Strategic partnership to support museums, film festivals, and digital arts In a landmark cultural diplomacy move, the Federal Government of Nigeria and the European Union (EU) have unveiled a €20 million initiative aimed at revitalizing the country’s cultural and creative sectors. Announced in Abuja, the partnership will fund the development of museums, film festivals, and digital creative…

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Nigeria Rejects U.S. Deportee Deal, Faces Visa Restrictions

Diplomatic tensions rise over Washington’s migrant policy shift Nigeria’s Ministry of Foreign Affairs has firmly rejected a U.S. proposal to accept Venezuelan deportees with alleged Nigerian heritage, sparking a new wave of diplomatic tension between the two countries. Foreign Minister Yusuf Tuggar announced that Nigeria would not serve as a “dumping ground” for undocumented migrants who do not…

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AKK Gas Pipeline Crosses River Niger: A Milestone Toward Nigeria’s Energy Future

$2.8 Billion Project to Transform Northern Nigeria’s Power and Industrial Capacity In a landmark achievement for Nigeria’s energy infrastructure, the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project has successfully crossed the River Niger, marking a critical milestone in the ongoing $2.8 billion project. This development moves the country closer to completing one of its most ambitious natural gas…

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Nigeria Police Repatriate Chinese Fugitive in ₦1 Billion Tax Fraud Case

Major transnational operation coordinated by INTERPOL In a significant victory for international law enforcement, the Nigeria Police Force has successfully arrested and repatriated a Chinese national wanted in connection with a ₦1 billion tax fraud case in China. The operation, executed in collaboration with INTERPOL, underscores Nigeria’s growing role in the global fight against transnational…

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Food Insecurity Worsens Amid Low Crop Yields in Nigeria

A crisis despite abundant land and potential Nigeria, despite possessing over 40% of Africa’s arable land, is facing an escalating food crisis, with more than 33 million people at risk of hunger in the second half of 2025, according to data from the World Food Programme (WFP) and the Cadre Harmonisé food security report. The alarming situation highlights the paradox of abundance—vast agricultural…

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Nigeria’s Pharma Industry Eyes $10 Billion Expansion by 2030

Nigeria’s pharmaceutical sector is poised for unprecedented growth, with projections indicating a rise from a $2 billion industry to $10 billion by 2030. The Association of Community Pharmacists of Nigeria (ACPN) made this ambitious declaration during its recent national conference, attributing the growth to significant investments in Active Pharmaceutical Ingredient (API) production, local…

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Deadly Ambush in Plateau State: Over 70 Security Volunteers Killed in Kanam District

A tragic wave of violence has once again swept across Plateau State, as at least 70 community security volunteers were killed in a deadly ambush by armed bandits in Kanam Local Government Area. According to local officials and eyewitnesses, the incident occurred when the volunteers were en route to a suspected bandit hideout, only to be met with heavy gunfire in a coordinated and brutal…