Author: Vardiafrica

The International Monetary Fund (IMF) has retained Nigeria’s economic growth forecast at 4.1 percent for 2026, but warned that higher prices for essential commodities will worsen poverty and food insecurity. In its July 2026 World Economic Outlook (WEO) Update released on Wednesday, the IMF said Nigeria’s gross domestic product (GDP) would expand by 4.1 percent this year and improve to 4.3 percent in 2027 — unchanged from its April forecast. The Bretton Woods institution also maintained sub-Saharan Africa’s growth outlook at 4.3 percent for 2026 and 4.5 percent for 2027. “Nigeria is supported by improved macroeconomic stability and favorable terms-of-trade…

Zimbabwean President Emmerson Mnangagwa has signed into law constitutional changes extending his time in office to 2030. The legislation, approved by Parliament last month, also introduces a provision allowing future presidents to be elected by lawmakers instead of a direct public vote. President Emmerson Mnangagwa has signed legislation extending his tenure by two years, allowing him to remain in office until 2030. Government spokesperson Nick Mangwana confirmed the move on Tuesday, announcing on social media that the bill had been “signed, sealed and delivered” after receiving presidential assent. The legislation was approved by both houses of Parliament last month following…

Renewed fighting has broken out in the Gulf region, in the worst exchange of fire between the US and Iran since the two nations signed an interim deal in June. US Central Command (Centcom) said on Tuesday it had launched “powerful” strikes in response to attacks on three oil tankers in the Strait of Hormuz, hitting more than 80 targets including air defence systems, coastal radar and fast boats. On Wednesday, Iran said it had targeted US military sites in Bahrain and Kuwait in retaliation to the US attacks. Oil prices ticked up following the strikes, with a barrel of…

President Bola Tinubu has inaugurated the Presidential Working Group on the National Policing Bill to prepare the legal framework for the implementation of state police across the country. Represented by his Chief of Staff, Mr Femi Gbajabiamila, the President inaugurated the committee at the Presidential Villa, Abuja. The inauguration followed the Senate’s passage of the Constitution Alteration (State Police) Bill, 2026, which proposes a dual policing structure comprising the Federal Police Service and 36 State Police Services. Tinubu said that although the constitutional amendment establishes the framework for state police, the National Policing Bill would provide the legal basis for…

Argentina staged a stunning comeback from 2-0 down to avoid a shocking exit at the hands of Egypt and prolong Lionel Messi’s World Cup career with a 3-2 win to reach the quarterfinals. The holders looked down and out on Tuesday when goals from Yasser Ibrahim and Mostafa Ziko, either side of Messi having a penalty saved, put the Pharaohs in sight of a historic victory in Atlanta However, Cristian Romero’s header sparked the comeback as Argentina struck three times in the final 11 minutes plus stoppage time. Messi smashed home the equaliser to score for a ninth consecutive World Cup game…

President Bola Tinubu has directed the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to conduct a thorough investigation into the activities of a “Presidential Foreign Intervention Promotion Council” (PFIPC) and all related matters. A statement signed by Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga says President Tinubu directed that the investigation be concluded and a comprehensive report submitted to him within 30 days. It adds that the President also directed that all persons found culpable be treated strictly in accordance with applicable law. The directive follows the discovery of the fictitious PFIPC, which was…

The Niger Delta Development Commission, NDDC, has infused a new energy into its Anti-Corruption and Transparency Unit, ACTU, as part of the Commission’s commitment to promote transparency, accountability and good governance in the Niger Delta region. Inaugurating the Anti-Corruption and Transparency Unit at the Commission’s headquarters in Port Harcourt, the NDDC Managing Director, Dr Samuel Ogbuku, described ACTU as a critical mechanism for promoting ethical conduct, preventing corruption and strengthening public confidence in the Commission. Ogbuku, who was represented by the NDDC Executive Director, Finance and Administration, Alabo Boma Iyaye, charged the new members of the anti-corruption unit to uphold…

The Nigerian Content Development and Monitoring Board (NCDMB), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as well as the Nigerian Petroleum Exchange (NIPEX) and the Oil Producers Trade Section (OPTS), comprising all international oil companies, have jointly developed a framework to harmonise the grading system for ranking various in-country capacities and capabilities. The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, made the disclosure on Monday in Abuja at the 25th Edition of the Nigeria Oil and Gas (NOG) Week, where he also listed capacity expansion,…

A 700,000-bpd East African oil refinery proposed by Africa’s richest man, Aliko Dangote, will be built in Kenya, a senior company official said Tuesday, putting a lid on speculation over the location of the mega-project. The massive refinery — similar to Dangote’s sprawling complex in Nigeria — will be based in Lamu, an island off the coast of Kenya, Edwin Devakumar, the vice president in charge of oil and gas at Dangote Industries Limited, told AFP. It will take around 30 months to build the facility in East Africa’s largest economy. Initially, Tanzania was also one of the locations considered…

The Senate has asked the Federal Government to suspend the rehabilitation and reintegration programme for Boko Haram members while urging security agencies to intensify efforts to arrest and prosecute terrorists and other criminal elements responsible for attacks across the country. The resolution was adopted during the plenary on Tuesday following a motion sponsored by Senator Abdulaziz Yar’Adua on the escalating attacks, abductions and killings of serving and retired military personnel, which he described as a growing threat to national security and state authority. The Senate also directed its committees responsible for security matters to strengthen oversight of security agencies and…