Author: TheLagosianMagazine

Nigeria’s petrol import bill fell significantly in the first quarter of 2025, dropping to N1.76tn from the N3.81tn recorded in the same period in 2024, representing a difference of over N2tn. According to the latest foreign trade statistics report released by the National Bureau of Statistics, this represents a 54 per cent year-on-year decline. The sharp fall also reflects a 47 per cent reduction from the fourth quarter of 2024, when petrol imports stood at N3.3tn. The decline has been largely attributed to increased domestic supply from the Dangote Petroleum Refinery, which has been ramping up operations in the country.…

Zenith Bank and Access Holdings Plc have surpassed the N500 bn share capital and share premium threshold set by the Central Bank of Nigeria for banks with international licences, Proshare report has revealed. The report, titled ‘Tier 1 Banks Report: Getting Bigger, Braver, and Dominant – The Class of 2025’, stated that Zenith Bank leads with a share capital and share premium of N614.65bn, followed by AccessCorp at N594.90bn. Other Tier 1 banks, including Ecobank Transnational Incorporated and Guaranty Trust Holding Company, are trailing behind with N353.51 bn and N345.30 bn, respectively. “All Tier 1 banks are licensed for international…

By Prof Zainab Duke-Abiola Today, June 12 2025, when my husband’s mandate was stolen, I choose to remember My dearest American friend and great grandmother the most Distinguished Mrs. Rachel Jackie Robinson who is now 102 years old. That’s right, one hundred and 2 years old. With her soft smile, kind, and gentle words she has been one of my great pillars of moral support , she has shown me the the strength in quiet resilience and self reliance . She has nudged me on to never complain and never explain whilst navigating the trajectory and travails of widowhood in…

LAPO Microfinance Bank (LAPO MfB), Nigeria’s premium financial institution, convened key development stakeholders, researchers, and financial inclusion experts for a landmark workshop titled “Presentation of Findings from the WASH Market Research Survey.” Held at LAPO Place, Maryland, Lagos, the event spotlighted the success and future direction of the bank’s Water, Sanitation and Hygiene (WASH) Loan Program — reaffirming LAPO MfB’s commitment to public health advocacy and Sustainable Development Goal (SDG)6: Clean Water and Sanitation. In her opening remarks, Cynthia Ikponmwosa, Managing Director of LAPO Microfinance Bank, emphasized the institution’s resolve to bridge the financing gap in Nigeria’s WASH sector through…

By Sola Ojewusi In an exclusive interview featured in a soon-to-be-released documentary, former Minister of Petroleum Resources, Pa Dan Etete, has claimed a pivotal role in securing the increase of derivation funds for oil-producing states in Nigeria from 3% to 13%. Etete, who served under the late Head of State, General Sani Abacha, revealed that it was through his efforts during the Constitutional Conference convened by the military regime that the landmark shift in oil revenue allocation was achieved. “For the record, I facilitated the increase in the derivation fund from 3% to 13% that oil-producing states in the Niger…

In an era where African storytelling is commanding global attention, one Nigerian filmmaker is quietly redefining the boundaries of Black cinema. Diran Aderinto, the Lagos-born actor-turned-director and cinematographer, is making waves on multiple fronts—from his recent appointment as Director of Photography for the highly anticipated faith-based drama Entangled, to his groundbreaking work documenting Black British experiences in Manchester. A Cinematic Voice Diran’s journey embodies the evolving narrative of contemporary African creatives—those who honor their roots while embracing global perspectives. His latest project, Entangled, represents both a professional milestone and a creative homecoming. The film, currently in production in Manchester, explores…

By Peter Omopo  A constitutional controversy has erupted following President Bola Tinubu’s presentation of the 2025 Appropriation Bill for Rivers State to the National Assembly, with several Senior Advocates of Nigeria (SANs) declaring the move unconstitutional and a breach of Nigeria’s federal structure. President Tinubu, on Thursday, formally sought Senate approval for a N1.48 trillion budget for Rivers State, which has been under emergency rule since March. The request, read on the Senate floor by Senate President Godswill Akpabio, outlined major allocations including N324 billion for infrastructure, N166 billion for health (with N5 billion set aside for free medication), N75.6…

By Peter Omopo  The Emir of Kaiama, Alhaji Muazu Sheu Omar, has called on the Nigerian Army to establish a forward operating base near Kainji Lake National Park to enhance security for farmers and residents in surrounding communities. The traditional ruler made the appeal while receiving the General Officer Commanding (GOC) 2 Division, Major General Obinna Onubogu, and his delegation during a courtesy visit to his palace in Kaiama, Kwara State. The visit followed a recent military operation in Kaiama and Baruten Local Government Areas of Kwara State, and Borgu LGA in Niger State, aimed at flushing out bandits from…

By Peter Omopo  A total of 52,000 Nigerians migrated to the United Kingdom in 2024, making Nigeria one of the top sources of non-EU+ immigration to the UK, according to newly released figures by the UK Office for National Statistics (ONS) on Thursday. The migration surge came despite a sharp drop in the UK’s overall net migration, which declined by nearly 50 percent—from 860,000 in 2023 to 431,000 in 2024, the ONS said. Of the Nigerian migrants, 27,000 arrived on work-related visas, 22,000 came to study, while the remaining 3,000 entered under other immigration categories, the report revealed. The ONS…

By Peter Omopo  President Bola Tinubu has urged the newly inaugurated board of the Nigerian National Petroleum Company Limited (NNPCL) to explore all viable options to secure economic growth and consolidate the progress achieved through ongoing reforms. Speaking during the inauguration ceremony at the State House, Abuja, on Thursday, President Tinubu said the board’s formation was the result of a deliberate and careful search for exceptional leadership within the oil and gas sector. Details of the event were released in a statement signed by his Special Adviser on Information and Strategy, Mr. Bayo Onanuga, titled “President Tinubu to NNPC Limited…