NEWS
World Bank, AfDB Back Tinubu With $2.3bn Loans
The President Bola Ahmed Tinubu administration has secured loans amounting to $2.3 billion from global financiers.
While the World Bank (WB) would be lending $1.5bn, the African Development Bank (AfDB) has agreed to lend $80m in support of critical sectors of the economy.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Monday in Abuja expressed optimism that the Nigerian Government on fulfilling her part of the deal would receive the inflow before the end of 2023.
Edu told the media that Nigeria qualified for the “relatively cheap” loans given its “macro-economic moves” in the past couple of months since President Tinubu assumed office.
He said, “Council approved today the application for financing from the World Bank.
“And in particular, the International Development Association, which is the virtually free or zero-interest lending arm or financing arm of the World Bank.
“The total is $1.5bn. The world today is one of the high-interest rates as the developed world looks to fight inflation. They do it by restricting money, and keeping interest rates high so that you can get inflation down.
“That means that interest rates for everybody else become not just high but very painful, if not unaffordable within that context.”
According to Edun, Nigeria took macroeconomic moves and tough decisions to restore balance in its economy, warranting support from multilateral development banks.
“The bold, brave, courageous and decisive measures that Mr President has taken are being rewarded by processing for Nigeria $1.5bn of immediate financing, which, provided that we do everything on our side, will be in before the end of the year.
“It is based on that the World Bank is willing to consider and to process on our behalf $1.5bn of concessional financing, relatively cheap financing and financing that will be dispersed relatively quickly.
“And it comes in one go. It doesn’t drip as will be done for a project and is just to support the reform effort. And that was what was presented to the Federal Executive Council, and the members approved that we go ahead with that financing given that it is affordable,” said Edun.
He pointed out that lags would exist between the cause and effect of the recent reform.
Although some effects are in place, such as the relative reduction in smuggling and rising domestic production in some areas, ‘it takes time before the full benefits are in,” he noted.
The Finance Minister also revealed that the Council approved $80m financing from the African Development Bank.
In his words, “This financing is for a project in Ekiti called the Ekiti Knowledge Zone Project. EKZ is basically to support young people and their quest to take on technology to use it to be employed, trained and benefit from being part of the knowledge economy, being part of the technological wave that is present very much in Nigeria, which is becoming a bigger and bigger share of the economy.
“The bold, brave, courageous and decisive measures that Mr President has taken are being rewarded by processing for Nigeria $1.5 billion of immediate financing, provided that we do everything on our side before the end of the year.
“So, it’s $80 million to help the young people in the sector of the knowledge economy, technology and communications generally.”
NEWS
NUPRC Dangles 40 Oil Blocks Before Global Investors at ADIPEC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has invited global investors to participate in the bid for the 2026 Licensing Round, which has 40 oil and gas blocks on offer.
The Commission Chief Executive, Oritsemeyiwa Eyesan, informed investors at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi on Monday, November 2, 2026 that Nigeria offers a stable climate amid global energy tensions.
She urged investors to look to Nigeria and take advantage of the opportunities and revealed that the licensing round portal will officially open on November 20, 2026.
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The NUPRC boss said this during a roundtable discussion titled, ‘Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security’.
She said, “We are expecting investors to turn to Nigeria. We are going into another licensing round, and we will launch our bid portal on November 20. We expect to see interested investors because the environment is a lot more competitive.
“We have set a very attractive fiscal framework for investors. The overall environment is much more secure. We have been able to manage costs with a lot of incentives for investors, and we expect to see investors take up the offer when we open the portal.”
The NUPRC boss noted that since the passing of the Petroleum Industry Act in 2021, as well as the executive orders signed by President Bola Tinubu, Nigeria has seen an improved investment climate.
Eyesan said that between 2021 and 2026, the NUPRC held at least four successful licensing rounds, which brought more investment into the country.
This marks a departure from the pre-PIA era, when licensing rounds were less frequent.
The CCE said Nigeria has huge energy potential, as it sits on 215 TCF of gas, but daily production is barely 7 bcf.
This presents an opportunity to investors, especially as key gas infrastructure, such as pipelines, is being built, she said. The stars are already aligned. For gas infrastructure, we just completed very major infrastructure projects that will unlock gas supply in the country and the sub-region.”
We have two major projects on the drawing board to move gas through the Nigeria-Morocco Atlantic Gas Pipeline and the Trans-Sahara Gas Pipeline.
Again, this gas will go to Europe and will also meet regional demand. So, Nigeria is positioned to meet not just domestic supply,” the CCE stated.
Eyesan maintained that as many countries discover petroleum resources, the race for investment has become more competitive.
She said Nigeria was already ahead of the game, as it had made certain modifications to attract the right capital.
“We understand that investors will prize execution risk, cost, delays and also uncertainty, and so what we have done in Nigeria is to ensure that we guard against these risks and then attract the investment required to enable us to unlock the huge resources we sit on,” the NUPRC boss said.
NEWS
‘Becoming Nigeria’s President Is a Divine Blessing’ – Tinubu
President Bola Ahmed Tinubu has described his emergence as Nigeria’s President as a special favour from Almighty Allah, saying his position as Commander-in-Chief of the Armed Forces is a privilege that must be matched with dedicated service to the country.
Tinubu made the remarks while reflecting on his spiritual journey to Saudi Arabia for the lesser Hajj (Umrah), during which he was granted access to pray inside the Holy Ka’abah in Makkah.
The President expressed gratitude to Saudi Arabia’s King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman for granting him and members of his Nigerian delegation the rare privilege.
SEE MORE: APC Defends Tinubu Over Electricity Promise, Says President Is Tackling Sector’s Challenges
Speaking after the spiritual exercise, Tinubu said his emergence as Nigeria’s leader was an extraordinary blessing, considering the millions of people in the country.
“I have faith in that, and I believe extremely well that He has done me and my country a great favour. Out of many millions of people, to be the President and Commander-in-Chief is a favour that only Almighty God can do to a human being,” he said.
The President also disclosed that he used the opportunity to pray for wisdom and resilience to continue serving Nigerians, expressing confidence that his prayers had been answered.
“Well, I asked for wisdom and resilience to continue to serve the people. I know that prayer has been granted,” Tinubu said.
Recalling his previous Umrah pilgrimage before the 2023 presidential election, he said he had asked Allah to bless the journey and promised to return to express gratitude.
Tinubu also reflected on the message in Surah Aal-Imran, Verse 26 of the Holy Qur’an, which establishes Allah as the ultimate owner of sovereignty and authority, with the power to give and take leadership.
He said the message reinforces the need for those entrusted with positions of authority to exercise power responsibly, with humility and in the interest of the people.
“There is no other God but Almighty Allah. He is the giver and the taker. He owns power and authority,” the President said.
He reaffirmed his commitment to building a prosperous Nigeria, investing in the future of young Nigerians and pursuing development in line with the aspirations of the people.
Tinubu described the opportunity to enter the Holy Ka’abah as a historic and deeply cherished spiritual experience, adding that it reflected the longstanding friendship and cooperation between Nigeria and Saudi Arabia.
NEWS
Ogun Police Win Public Safety Award as Ojajuni Emerges NUJ Golden Jubilee Ambassador
The Ogun State Police Command has received three major honours at the Nigeria Union of Journalists (NUJ), Ogun State Council’s Golden Jubilee Press Week, with Commissioner of Police Bode Ojajuni named a Golden Jubilee Ambassador.
The Command received the Shield of Public Safety Award, while its Police Public Relations Officer, DSP Oluseyi Babaseyi, was presented with the Vanguard of Public Safety Award.
The recognition formed part of activities marking the 50th anniversary of the NUJ in Ogun State, which coincides with the state’s 50th anniversary.
SEE ALSO: Oyo Police Arrest Suspected Serial Burglar, Recover Stolen Items Worth ₦16.2m
According to a statement released on Monday, November 2, 2026, by the Command’s spokesperson, DSP Babaseyi, the awards recognised the Command’s commitment to public safety, proactive policing and effective engagement with the media.
The Golden Jubilee Press Week, held from October 26 to November 1, 2026, was themed, “Truth, Trust and the Press: Protecting Democratic Choice and Rebuilding Public Confidence in Journalism.”
Ojajuni also participated in a panel session during the celebration, where he urged journalists to uphold truth, professional ethics and patriotism, stressing the importance of responsible journalism to national development and public confidence in public institutions.
While receiving the Shield of Public Safety Award, the police commissioner attributed the Command’s achievements, particularly the impact of Operation KOSAYE, to the strategic direction of the Inspector-General of Police, IGP Olatunji Rilwan Disu, under the Handshake Patrol initiative.
He explained that the operation was carried out on the directive of the IGP through collaboration between the Ogun and Lagos State Police Commands, with support from the governors of both states.
According to him, the initiative strengthened security cooperation between the two states and improved coordinated efforts to prevent and combat criminal activities.
Ojajuni was also named among 50 distinguished personalities recognised as Golden Jubilee Ambassadors.
The honour reflects his leadership and previous contributions to policing in Ogun State, where he served as Deputy Commissioner of Police in charge of the State Criminal Investigation Department and Squadron Commander of the 16 Police Mobile Force, Abeokuta, before becoming commissioner.
Similarly, Babaseyi received the Vanguard of Public Safety Award in recognition of his contributions to police-public communication, media engagement and public safety advocacy.
The commissioner dedicated the honours to the Inspector-General of Police and officers of the Nigeria Police Force, acknowledging their commitment and sacrifices in protecting lives and property.
The Command also commended the NUJ Ogun State Council, led by its chairman, Comrade Wale Olanrewaju, for the recognition and its role in promoting constructive engagement between journalists and security institutions.
It reaffirmed its commitment to strengthening its relationship with the media, noting that effective policing depends not only on operational deployment but also on public trust, timely information and stakeholder engagement.





