Youths in Ogun State were urged to use the cooperative model to tackle unemployment, poverty, and inequality. The 2025 Ogun State Youth Cooperative Seminar held on Wednesday, April 9, at the Oba K. O. Olubiyi Conference Hall, Cooperative House, Asero, Abeokuta. Organized by OGSCOFED Youth Cooperative Multipurpose Society, it ran with the theme, “A Better World Through Cooperatives: Eternal Relevance and Youth Empowerment.”

Mr. Oluyemi Sorunke, representing the Director of Cooperative Services, declared the event open and charged youths to lead today. Alhaji Braheem Fattah of Ogun State Cooperative College explained the Yoruba ethos “Alajẹsẹku emi ò ní bajẹ́,” stressing collective survival and results-driven commitment. He also highlighted a free, one-week renewable energy training in May 2025 by Prestige Diamond Nigeria Limited for young cooperators.

President Badejo Adeyemi AMCP affirmed that youths are the change-makers of today. He linked the gathering to the UN’s 2025 International Year of Cooperatives and the theme “Cooperatives Build a Better World.” He called on the Ogun State Government to back youth cooperatives with grants and tailored skill programs.

Other leaders, including Mr. Otinwa Lanre Abraham and Alhaji Abdulwasiu Olaleye, shared success stories and reaffirmed OGSCOFED’s support. Interim Branch Youth Coordinators and Secretaries were inaugurated with clear next steps. These include setting up WhatsApp groups, holding regular meetings, presenting new leaders, forming branch youth cooperatives by June 2025, and convening in April and May. Participants left with insights on finance access, cooperative values, leadership, and sustainable development.

2025 OGUN STATE YOUTH COOPERATIVE SEMINAR

Ogun Youth Cooperative Seminar 2025: Building a Better Future Through Cooperatives

The Central Bank of Nigeria has instructed banks to restrict certain services for borrowers with non-performing large-ticket loans. The March 12, 2026 directive, signed by Director of Banking Supervision Olubukola Akinwunmi, applies to facilities recorded in the CRMS or private credit bureaus.

Affected obligors cannot receive new loans, letters of credit, performance bonds or other contingent liabilities. Banks must also secure existing exposures with additional realisable collateral under Prudential Guidelines.

The measure aims to shield the financial system from risks posed by major defaulters. The CBN will monitor compliance and enforce sanctions under the BOFIA 2020. This follows a similar June 2024 directive amid rising non-performing loans above the 5% prudential ceiling.

CBN Directs Banks To Restrict Banking Services To All Loan Defaulters

CBN Bars Large-Ticket Loan Defaulters from Accessing Further Credit

OPEC’s production quotas have long favored Middle Eastern members. This imbalance leaves global markets vulnerable when routes like the Strait of Hormuz are threatened. Recent blockades by Iran show how easily supply disruptions can drive prices up.

Africa holds vast untapped oil reserves that could help diversify global supply. By adjusting OPEC quotas to raise Nigeria’s output to 6 million barrels per day, the world can reduce dependence on the Hormuz corridor. Redirecting investment and drilling activity to Nigeria and other African producers would strengthen energy security.

It’s time for OPEC to rethink its allocation formula. A fairer distribution of production rights can stabilize markets and give Africa a greater share of the economic benefits from its natural resources.

OPEC Is Design To Favour The Middle East As Against Africa

Rebalancing OPEC: Africa’s Oil Potential Against Middle East Dominance

Canal+ rolled out a €100 million recovery plan months after completing its takeover of MultiChoice, Africa’s largest pay-TV operator. The move aims to counter a 500,000-subscriber drop driven by economic pressures and rising streaming competition.

The group blamed currency devaluation in key markets like Nigeria, frequent power shortages and a failed Showmax contract for recent losses. It has since terminated that deal to refocus on core pay-TV services.

To win back viewers, Canal+ will blend top international shows with more locally produced films, series and sports. It will also simplify packages, adjust pricing and subsidise decoders and dishes to lower entry costs.

Alongside this investment, Canal+ plans voluntary staff cuts, a restructure of its tech arm Irdeto and the shutdown of underperforming units. The company now expects over €250 million in synergies by 2026, up from an earlier target of €150 million.

Canal+unveils €100m Turnaround Plan As Dstv Owner Multichoice Loses 500,000 Subs

Canal+ Unveils €100m Turnaround Plan After MultiChoice Loses 500,000 Subscribers

A new study presented at an Agora Policy dialogue in Abuja finds Nigeria’s poverty headcount jumped from about 49.8% to roughly 63% after the petrol subsidy was removed. Social protection measures later moderated the rate to around 56.2%, though welfare conditions remain dire for low-income households.

The research, led by Dr Mohammed Shuaibu of the University of Abuja, examined the effects of subsidy removal and electricity tariff adjustments on household consumption and macroeconomic output. It showed that low-income and rural families felt the sharpest impact, cutting basic spending and resorting to survival strategies.

Stakeholders at the event—including CBN Deputy Governor Dr Muhammad Abdullahi, World Bank economist Dr Samer Matta, and private sector leaders—agreed reforms were necessary but urged faster, larger social transfers and targeted support for small businesses.

The study warns that without stronger safety nets and better policy rollout, short-term shocks could deepen Nigeria’s poverty gap despite early signs of macroeconomic improvement.

Poverty Rate Jumps To 63% After Subsidy Removal – Report

Nigeria’s Poverty Rate Soars to 63% After Fuel Subsidy Removal, Eases to 56% with Social Aid – Study

The closure of the Strait of Hormuz amid the U.S.–Israel–Iran conflict is set to hit Nigeria’s import‑dependent economy. Importers report rising freight and insurance costs, longer routes, and likely delivery delays. Industry sources warn that the biggest effects on supply chains often show up after three to five weeks. With about 20% of global oil flowing through the corridor, energy and petrochemical prices are already edging up.

Shipping delays are disrupting vessel schedules and clogging the logistics cycle. Freight rates from Asia are up by 10–15% and could go higher if the crisis drags on. War‑risk premiums and marine insurance costs are also climbing, and businesses expect these bills to be passed on to consumers.

Airlines are rerouting around restricted Middle East airspace, adding time and cost to passenger and cargo movement. Importers are preparing for longer sea transits, higher port charges, and strained delivery timelines that can damage customer trust. Some cargo near Nigerian ports may still arrive on time, but new orders face heightened uncertainty.

The shock underscores Nigeria’s heavy reliance on imported goods and inputs. Manufacturers warn of rising production costs as energy filters into everything. Business leaders urge a faster push for local manufacturing to cushion future global disruptions. In the near term, consumers should expect upward pressure on prices.

''Expect Higher Prices Due To Iran War + Strait Of Hormuz Closure''

Strait of Hormuz Shutdown: Nigeria Braces for Costlier Imports, Delays and Price Hikes

Brent crude is set for a 9% weekly gain despite four US emergency measures to curb prices. Washington released 172 million barrels from its SPR, coordinated a 400 million-barrel release with 32 nations, offered US Navy escorts in the Gulf, and granted a 30-day waiver on sanctioned Russian oil.

Markets turned sharply higher after Iran closed the Strait of Hormuz. Supreme Leader Khamenei confirmed the closure will stand, tightening supply and driving prices up.

In Nigeria, the government’s budget breakeven is $75/barrel while oil trades above $100. Consumers pay ₦1,300–₦1,400 per litre of petrol. PETROAN warns prices could hit ₦2,000 if the war drags on, pushing up transport fares and food costs.

Oil Prices Head For 9% Weekly Gain As Iran War Defeats Every US Emergency Measur

Oil Prices Soar 9% Weekly as Iran Seals Strait of Hormuz

The Central Bank of Nigeria (CBN) has instructed banks to limit certain services for borrowers with large non-performing loans. This measure aims to protect the stability of our financial system and encourage responsible credit behavior.

Issued on March 12, 2026, the circular was signed by Olubukola Akinwunmi, Director of Banking Supervision. It applies to all deposit money banks across Nigeria.

Any borrower whose facility is classified as non-performing in the Credit Risk Management System or a licensed private credit bureau will be barred from obtaining new credit facilities. This move strengthens credit discipline and reduces systemic risk.

Detailed Explanation: CBN To Restrict Banking Services For Debtors

CBN to Restrict Banking Services for Large-Exposure Debtors: What You Need to Know

Fuel prices in Abuja jumped from N835–N875 per litre to N1,200–N1,350. Transport operators then hiked fares by about 100%.

Many commuters now pay significantly more. Mrs Ngozi Okeke’s bus fare rose from N800 to N1,000. Theresa Godpower’s trip to the Federal Secretariat climbed from N500 to N700. Others report similar increases on major routes.

Drivers say they had no choice. Mr John Eze explains that buying fuel at N1,350 per litre leaves operators with losses if fares stay unchanged. NAN also noted fewer vehicles on key roads as owners cut back.

Economist Dr Ibrahim Sule warns of wider effects. He says higher fuel costs drive up food prices. He urges stronger social support and investment in mass transit to ease the impact on residents.

Fuel Price Hike: FCT Residents Lament Transport Fare Surge

Fuel Price Surge Forces FCT Transport Fares to Double

2026 marks a turning point for Nigerian retail. Social commerce on platforms like TikTok and WhatsApp is reshaping the e-commerce funnel. Global social commerce sales are set to top $100 billion this year, with Nigeria driving growth in Africa.

Yet a Trust Gap remains. Over 37 million Nigerians spend four hours daily on social media. Many still avoid high-value DM transactions due to fraud risks. Sellers are now adopting a hybrid model—using social media for discovery and structured marketplaces for secure payments.

This hybrid strategy delivers searchable listings, digital tax compliance, and clear pricing. I invite you to share your experiences. Do you trust structured platforms more than DM deals? Are “Price in DM” sales declining? Will the new tax rules end informal WhatsApp selling?

Is Social Commerce Disrupting The Traditional Nigerian Marketplace?

Is Social Commerce Upending Nigeria’s Traditional Marketplace?

The wife of the Anambra State Governor, Mrs Nonye Soludo, has inaugurated the Anambra Skilled Ladies Program. She described it as her personal gift of love and support to purposeful women during International Women’s Month.

This entrepreneurial initiative trains young women in high-demand technical skills. It covers solar and CCTV installation, air-conditioning repair, tricycle maintenance, and painting. Originally planned for 50 participants, overwhelming interest doubled the intake to 100.

Trainees will spend one month in practical classes followed by one month of supervised internship. They secured their places through a strict screening process. Mrs Soludo urged them to approach challenges with resilience, respect their trainers and peers, and bring excellence to these traditionally male-dominated fields.

Mrs Soludo Inaugurates Anambra Skilled Ladies Program.

Anambra First Lady Launches Skilled Ladies Program to Empower Young Women

The Dangote Petrochemical Refinery has raised its ex-depot price for Premium Motor Spirit to N1,175 per litre. This reverses a N100 cut announced on March 10, which had spurred heavy buying by depot operators.

Following the upward review, several depot hubs paused sales while awaiting clarity on the new pricing structure. The refinery also suspended loading operations briefly to reconcile stock and align with the revised rate.

The move reflects a surge in global crude prices, with Brent crude jumping from about $91 to over $100 per barrel. Heightened Middle East tensions and fears of supply disruptions at the Strait of Hormuz have driven oil benchmarks, including Nigeria’s Bonny Light, above the $100 mark.

Dangote Refinery Raises Petrol Price To N1,175/litre As Crude Spikes

Dangote Hikes Fuel Price to N1,175/Litre Amid Global Oil Rally

The Central Bank of Nigeria (CBN) has announced that mobile banking apps may only be used on one device at a time. Any switch to a new device will require automatic reactivation and multi-factor authentication.

Customers can opt in or out of instant payments at any time. In opt-out mode, online instant transfers are disabled, though customers may visit their bank branch to make transfers.

Banks must implement enterprise fraud monitoring and enhanced authentication measures, including liveliness checks and biometric verification. New or reactivated apps will face a ₦20,000 transaction limit during the first 24 hours. All provisions take effect from July 1, 2026.

CBN Restricts Mobile Banking App Operation To One Device

CBN to Restrict Mobile Banking Apps to One Device from July 2026

Nigerian Breweries Plc has acquired a 29% stake in one of Africa’s largest state-of-the-art recycled PET (rPET) facilities in Ogun State. This partnership with Indorama Ventures and Genesis Energy marks NB Plc’s first major investment in food-grade plastic recycling on the continent.

The plant will produce up to 45,000 metric tons of high-quality rPET resin each year. It aligns with Nigeria’s National Policy on Plastic Waste Management, which now holds brands responsible for their packaging lifecycle.

Set to begin operations by Q2 2027, the project will boost local collection systems, create jobs across the recycling value chain, meet growing demand for recycled materials, and help curb plastic pollution in Nigeria.

SUSTAINABILITY: Nigeria’s No. 1 Brewer Acquires Stake In Key Recycling Plant

Nigerian Breweries Takes 29% Stake in 45,000-Ton rPET Recycling Plant

Nigeria spent a staggering $2.9 billion keeping four state‐owned refineries alive, yet today none operate at full capacity. The result: almost total reliance on the Dangote Refinery to meet the nation’s fuel needs.

Senior Advocate Femi Falana has questioned this strategy: “The NNPC now solely relies on Dangote Refinery. Is this how to run a country? Nobody is talking about the billions spent maintaining our four refineries.”

Read on for public reactions and the full news report on how this shift shapes Nigeria’s energy future.

$2.9bn Wasted On Refineries — Now Nigeria Relies On Dangote!

From $2.9bn Down the Drain to Dangote’s Lifeline: Nigeria’s Refinery Fiasco

Iran and India offer conflicting accounts of a deal to let India-flagged tankers transit the Strait of Hormuz amid a surge in maritime attacks.

India, which sources about 40% of its crude from the Middle East, has voiced concern after several commercial vessels were struck. Foreign Minister S. Jaishankar raised the issue in talks with his Iranian counterpart, but Tehran denies any formal agreement.

The strait remains effectively closed, leaving dozens of Indian and South Korean tankers and over 1,100 crew stranded. India also secured a one-month US waiver to import Russian crude, though competition from China may curb its advantage.

Iran May Allow Indian Tankers Through Hormuz Despite Ongoing Shipping Attacks

Iran May Grant Safe Passage to India-Flagged Tankers Through Hormuz Amid Rising Attacks

Dangote Petrochemical Refinery has raised the ex-depot price of Premium Motor Spirit to N1,175 per litre. This reverses the brief N100 cut to N1,075 on March 10, which had driven strong buying from depot operators.

A senior refinery official, speaking anonymously, confirmed the new price. Depot operators in several hubs paused sales and loading operations were suspended to reconcile stocks and align with the revised rate.

The price rise mirrors a jump in global crude costs. Brent crude climbed from about $91 to $100 per barrel on Middle East tensions. Nigeria’s Bonny Light also briefly broke above $100 amid fears of supply disruptions.

Dangote Lifts Petrol Price to N1,175/Litre Amid Global Oil Spike

Nigeria’s thermal power plants need about 1,630 mmscfd of gas daily but are receiving just 692 mmscfd, less than 43% of the required supply. Mounting debts of over ₦6.8 trillion across the power value chain are forcing gas suppliers to cut off fuel until they are paid, worsening blackouts nationwide.

Dr. Joy Ogaji of the Association of Power Generation Companies warns that unpaid bills to generation firms and their gas suppliers threaten a full-scale collapse of the sector. Hydropower sources are currently propping up the grid, but this offer only limited relief during the dry season.

Consumers and businesses are bearing the brunt of persistent load shedding. Protests have erupted in Lagos and other cities as residents decry “estimated billing” and demand reliable electricity. Distribution companies say they are constrained by gas shortages and promise to work with stakeholders to restore normal supply.

Power Outage May Worsen As Gas Supply Drops

Nigeria’s Power Crisis Deepens as Gas Supply Plummets

Nigerians are raising alarm as petrol prices climb across the country. Many commuters now pay higher fares, while households battle rising food and daily living costs.

Reports from several cities show pump prices crossing ₦1,000 per litre in some stations. Queues have lengthened in places, and transport operators have adjusted fares upward. Market prices are reacting too, adding pressure on family budgets.

Analysts link the spike to global oil market tensions and swings in crude prices. These pressures are lifting energy costs and making it harder for many homes to cope.

Experts are urging the government to provide relief now, while pursuing long-term fixes like improving local refining and stabilising the energy sector. For many Nigerians, the urgent worry is how to manage daily transport and basic needs as prices keep shifting.

Fuel Price Increase Sparks Concern As Nigerians Struggle With Rising Cost Of Liv

Petrol Tops ₦1,000/Litre in Some Cities as Transport and Food Costs Soar

My friends in logistics and trucking across Nigeria, Kenya and Ghana have all noticed the same trend: Chinese semi-trailers are everywhere on our roads. From container chassis to heavy-duty stake trailers and mining lowbeds, these trailers now outnumber Western brands.

Chinese manufacturers design their trailers for Africa’s harsh conditions. They use thickened main beams and reinforced chassis to resist bumps and cracks. Heavy-duty suspension systems cope with potholed dirt roads. Special coatings protect against high temperatures, humidity and coastal corrosion.

Affordability is another big draw. European and American trailers often cost two to three times more than Chinese models. With lower upfront prices and cheaper maintenance, Chinese trailers are the only viable option for many small and medium logistics companies.

Repairs and spare parts are easy to find. Local garages stock Chinese components and know how to service these trailers quickly. On rough African roads, durability and fast repairs mean survival for transport businesses.

Why Chinese Semi-trailers Dominate The African Market?

Why Chinese Semi-Trailers Are Dominating African Roads

Many Nigerians rely on mobile loan apps for quick funds. But unregulated apps can steal data, charge hidden fees, or harass borrowers. The CBN and FCCPC now require digital lenders to register and follow strict rules.

This guide lists all CBN-approved loan apps for 2026. It details interest rates, loan limits, and repayment terms. You will also learn how to verify each app on the FCCPC website.

Approved apps must disclose fees, protect user data, avoid harassment, and offer customer support. Unapproved apps may charge high rates, access your contacts, or threaten you. Always confirm an app’s registration before borrowing.

List Of Loan Apps Approved By Cbn 2026

2026 Guide to CBN-Approved Loan Apps in Nigeria

Former presidential candidate Peter Obi has blamed the recent petrol and diesel price hikes on Nigeria’s lack of strategic planning. He highlighted how global shocks, such as the US-Iran conflict, quickly push local pump prices above ₦1,200 per litre.

Obi noted that most nations keep strategic petroleum reserves to cushion against supply disruptions. Nigeria, however, has no such buffer, leaving consumers at the mercy of sudden international market swings.

He pointed out that prices at some stations have already reached ₦1,350 to ₦1,400 per litre after the Dangote refinery raised its gantry price. Economists warn this surge could stoke inflation and force businesses to raise costs.

Obi urged structural reforms and long-term planning to shield Nigeria from volatile oil markets. “When a country fails to plan, it has already planned to fail,” he said, calling for stronger local refining capacity and emergency reserves.

Lack Of Planning Behind Nigeria’s Fuel Price Hikes — Peter Obi

Fuel Hikes Expose Nigeria’s Planning Gap, Peter Obi Warns

Many Nigerian small businesses rely on WhatsApp to sell products. This process often involves posting on Status, sharing product photos, and answering the same questions about price, colors, and ordering.

A simple solution is to create one link where customers can view all products at once. They browse at their own pace and message only when ready to buy. This reduces repetitive conversations and customer confusion.

Tools like ShopLink.com.ng let vendors build a basic WhatsApp store. Share your product page link instead of sending multiple images. For busy sellers, this saves time and boosts efficiency.

Do you think WhatsApp chat alone is enough, or should vendors adopt simple store pages?

How Whatsapp Vendors Are Losing Sales Because They Do Not Have A Simple Store

Stop Repeating Sales Chats: How a Simple WhatsApp Store Can Boost Your Business

Stakeholders warn the escalating Middle East conflict is disrupting shipping routes to Nigeria and raising import costs.

These closures of the Strait of Hormuz and security threats in the Red Sea and Suez Canal have led to higher insurance premiums, longer transit routes and increased bunker expenses. SAN Chair Boma Alabi and ANLCA’s Dr Kayode Farinto cite surcharges of $3,000–$4,000 per container. Maritime consultant Daniel Odibe adds carriers may prioritize European routes, bypassing West Africa.

Importers are already adjusting their supply strategies as they grapple with rising operating costs and the risk of higher inflation.

Middle East Tensions Threaten Shipping Routes, Raise Cost Concerns For Nigeria,

Middle East Conflict Disrupts Shipping Routes, Threatens to Inflate Nigerian Import Costs

If you need a reliable delivery service in Abuja, some companies shine in local drops while others focus on interstate or international shipments. I’ve compiled the top nine firms in Abuja and highlighted what each one does best.

Peng Logistics and Kwik Delivery are the go-to for same-day city deliveries. They have fast pickup times and cover key districts like Wuse, Garki, and Maitama. For interstate parcels and haulage, consider GIG Logistics, ABC Cargo Express, or CourierPlus, which offer wide coverage and dedicated vehicles.

When it comes to international shipping, DHL Express, Red Star Express (FedEx licensee), and UPS Nigeria are the most reliable. They handle cross-border documents and parcels to hundreds of destinations. NIPOST EMS is another budget-friendly choice for local and international correspondence.

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