BETALIFE NIGERIA TODAY

The Central Bank of Nigeria (CBN) has strengthened Nigeria’s foreign reserves with the addition of responsibly sourced gold refined to **London Bullion Market Association (LBMA) Good Delivery standards, bringing the bank’s total gold holdings to about $3.5 billion. ‎ The gold, sourced locally within Nigeria, was aggregated through the Solid Minerals Development Fund (SMDF) under the National Gold Purchase Programme (NGPP). The programme works with local miners and follows responsible sourcing practices in line with guidelines of the Organisation for Economic Co-operation and Development (OECD) and the **World Gold Council. ‎ Speaking at a one-day workshop on Strategies to Maximise the Economic Benefits of Minerals in Nigeria, held on February 27, 2026, the CBN Governor, Olayemi Cardoso, revealed that the apex bank purchased the monetary-grade gold in naira, with pricing tied to LBMA benchmarks. ‎ According to him, the structure allows the CBN to build gold reserves...

The Managing Director of the South East Development Commission (SEDC), Mark Okoye, has said growing acceptance of the Commission’s initiatives has sparked what he described as a “new patriotism” in Nigeria’s South-East region, long troubled by separatist agitations linked to the Indigenous People of Biafra (IPOB). ‎‎Okoye made the remarks during the presentation of the Commission’s proposed ₦140 billion budget for the 2026 fiscal year before the Senate committee. ‎‎He said the atmosphere at a recent stakeholders’ engagement reflected renewed unity and shifting sentiments across different segments of the region. ‎‎According to him, about 14 known IPOB members attended the four-day event and reportedly softened their separatist stance afterward, expressing willingness to contribute to the development of the South-East rather than pursue secession. ‎Defending the proposal, Okoye explained that the ₦140 billion figure aligns with the 2026 budget circular issued by...

The National Assembly has called for increased and sustained funding for Nigeria’s housing sector, highlighting its importance to economic growth, job creation, and national development. This position was expressed during the 2026 budget defence of the Federal Ministry of Housing and Urban Development before relevant Senate and House Committees. The Senate Committee, chaired by Aminu Waziri Tambuwal, and the House Committee, chaired by Abdulmumin Jibrin, both stressed the need to prioritise housing due to its wide economic impact. Tambuwal reaffirmed the Senate’s support for policies and funding mechanisms that expand access to affordable housing and improve urban infrastructure. Jibrin noted that the housing sector remains underfunded and requires greater investment to maximise its economic potential. Leading the Ministry’s presentation, Housing Minister Ahmed Musa Dangiwa outlined key 2026 priorities, including delivering 4,000 housing units across 15 states u...

‎President Bola Ahmed Tinubu, GCFR, has accepted the resignation of the Inspector-General of Police, Mr Kayode Egbetokun, following the submission of his letter citing pressing family considerations. ‎ ‎President Tinubu received Mr Egbetokun’s resignation earlier today and expressed his profound appreciation for Egbetokun’s decades of distinguished service to the Nigeria Police Force and the nation. The President acknowledged his dedication, professionalism, and steadfast commitment to strengthening internal security architecture during his tenure. ‎ ‎Appointed in June 2023, Egbetokun was serving a four-year term scheduled to conclude in June 2027, in line with the amended provisions of the Police Act. ‎ ‎In view of the current security challenges confronting the nation, and acting in accordance with extant laws and legal guidance, President Tinubu has approved the appointment of Assistant Inspector-General of Police Tunji Disu to serve as Acting Inspector-General of ...

The Joint Committee of the National Assembly of Nigeria on the Federal Roads Maintenance Agency (FERMA) has commended the agency for what it described as the promptness and improved quality of federal road maintenance across the country. ‎ ‎‎The commendation came during the agency’s defence of its 2025 budget implementation and presentation of its 2026 budget proposal before the joint committee of the Senate and the House of Representatives. ‎ ‎ ‎Presenting the proposal, the Minister of State for Works, Bello Muhammad Goronyo, disclosed that the proposed 2026 budget stands at ₦229.99 billion. ‎ ‎ ‎He explained that ₦191.47 billion is earmarked for capital expenditure, including the rollover of 70 per cent of ongoing 2025 capital projects into 2026. According to him, a total of 336 projects have been rolled over, comprising 291 road projects and 75 non-road projects, including streetlights and related infrastructure. ‎ ‎ In his remarks, Chairman of the Senate Committee on FERM...

The Joint Committees of the Senate and House of Representatives on National Planning have renewed their commitment to strengthening oversight and supporting policies aimed at positioning Nigeria toward a one trillion dollar economy. The resolution was made on Tuesday, February 17, 2026, during an oversight session with officials of the Federal Ministry of Budget and Economic Planning and its agencies at the National Assembly Complex in Abuja. The lawmakers reviewed budget performance, assessed implementation of national development policies, and examined the effectiveness of economic reforms designed to stabilize and grow the economy. Senate Chairman of the Joint Committee, Yahaya Abdullahi, said the oversight session reflects the National Assembly’s constitutional responsibility to ensure that government programmes and expenditures align with national priorities and deliver measurable outcomes. He emphasized that achieving a one trillion dollar economy requires...