GBN

By Paul Ejime Abuja, June 15, 2026 – We had warned in April 2024 that the political partnership between President Diomaye Faye and Prime Minister Ousmane Sonko in Senegal might not stand the test of time. Their falling out after two years has vindicated that prediction, which was based on the history of godfatherism in African politics. Kenneth Kaunda was considered the father of Zambia’s independence, but after governing the country for 27 years, his nationality was questioned by his successor, labour leader Frederick Chiluba. In the of politics, Chiluba …

Abuja, June 15, 2026 – Nigeria’s headline inflation rate rose to 15.93% in May from 15.69% in April This is the third consecutive rise in the inflation rate in 2026. The National Bureau of Statistics (NBS) disclosed this in the latest edition of its consumer price index (CPI) report released on Monday. It said the headline inflation rose on a year-on-year basis to 15.93% in May, up from 15.69% in April 2026 and down from 26.06% in the same month of the preceding year (May 2025). “Looking at the movement, …

Abuja, June 15, 2026 – The Federal Allocation Committee (FAAC) has disbursed N2.26 trillion to the federal government, states and local governments as April federal allocation. Bawa Mokwa, the Director (Press and Public Relations) Office of the Accountant General of the Federation (OAGF), disclosed this in a statement on Monday. According to the statement, the total gross revenue of N3.184 trillion was available in the month of April 2026. Gross statutory revenue of N2.378 trillion was available in April 2026, higher than the sum of N1.699 trillion received in the …

Lagos, June 15, 2026 – The World Bank projects 2.5 percent global growth rate in 2026 from 2.9 per cent growth frate recorded in 2025. It said the growth is expected to recover modestly to 2.8 per cent in 2027, but remain below the average recorded during the 2010s. The global institution made the projection in its latest Global Economic Prospects report released at the weekend. It said it was making available between $50 billion and $60 billion immediately through existing financing instruments, including $25 billion in pre-arranged funding. The …

By Chidi Anselm Odinkalu Lagos, June 15, 2026 – President Bola Ahmed Tinubu, during the presentation of his budget proposals for 2024 to Nigeria’s National Assembly, the first full year of appropriations under his presidency, identified human asset development, poverty reduction and fighting insecurity as his priorities. In the first week of February this year, his official spokesperson, Bayo Onanuga, appeared to have forgotten his boss’ commitment when he acknowledged that 133 million Nigerians were multi-dimensionally poor, but claimed that this had nothing to do with the Federal Government. According …

Singapore, June 15, 2025 – Oil prices ​slipped to a three-month low on Monday after U.S. President Donald Trump and Iran’s deputy foreign minister said ‌they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz. Brent crude futures fell $3.65, or 4.2%, to $83.68 a barrel by 0630 GMT and U.S. West Texas Intermediate was at $80.75, down $4.13, or 4.9%. Both contracts fell to their lowest ​levels since March 10 on Monday after tumbling more than 3% on Friday. The U.S. and …

Islamabad, June 15, 2026 – The United States and Iran reached an initial agreement early Monday to open the Strait of Hormoz and further extend a shaky ceasefire in the Iran war, potentially allowing desperately needed oil and natural gas to reach the global market. Details of the deal were not immediately released and Iran signaled implementation would not start until the signing, which key mediator Pakistan said would occur Friday in Switzerland. It could provide a way to end a war that killed thousands across the Middle East, including the top …

Lagos, June 15, 2026 – The Centre for the Promotion of Private Enterprise (CPPE), a private sector think tank, has advised the federal government to give more consideration to the welfare of Nigerians in the implementation of its economic stabilization policies. It gave the advice on Sunday in response to the recent report of the IMF Article IV on Nigeria. The CPPE said it welcomed IMF’s positive assessment of Nigeria’s economic reforms, which it said, had yielded positive results like the stabilization of the foreign exchange market, improvement in external …

Lagos, June 13, 2026- Olusegun Obasanjo, a former President of Nigeria, has called for a coordinated national effort to develop and promote Nigeria’s indigenous Adire industry. He describing the textile craft as a vital cultural and economic asset capable of creating jobs, preserving heritage, and boosting tourism. The former president made the call during a visit to the ongoing fifth edition of the Ecobank Adire Lagos Experience at the Ecobank Pan African Centre (EPAC), Victoria Island, Lagos, He urged stakeholders to establish Adire associations across different states of the federation …

By Paul Ejime Abuja, June 13, 2026 – Nigeria on Friday, 12 June, marked 27 years of the return of civilian rule after prolonged military rule and a date in 1993, when the country held a presidential election considered the freest, even though the acclaimed winner, business mogul and philanthropist MKO Abiola, died in detention under a military regime without actualising the mandate. Today, incumbent President Ahmed Bola Tinubu, one of those who resisted military rule under the NADECO platform before being elected governor of Lagos state (1999-2007), has managed …