NEWS
Personal Loans Rise to N1.96trn in Jan 2026 – CBN
By Tony Obiechina, Abuja
Personal loans granted by Nigerian banks rose to N1.96tn in January 2026, accounting for more than half of total consumer credit in the country, according to the latest Economic Report released by the Central Bank of Nigeria (CBN).
Findings from the report showed that total consumer credit outstanding increased by 0.
79 per cent to N3.81tn in January from N3.78tn recorded in December 2025, with the growth driven entirely by a rise in personal loans.The CBN stated that personal loans rose by 5.
95 per cent from N1.85tn in December to N1.96tn in January, representing 51.44 per cent of total consumer credit during the review period.In contrast, retail loans declined by 4.15 per cent to N1.85tn from N1.93tn in the preceding month, accounting for the remaining 48.56 per cent of total consumer credit.
The report also showed marginal growth in total credit to the economy, which increased by 0.17 per cent to N57.41tn in January from N57.32tn in December 2025.
According to the apex bank, the increase was largely driven by improved lending to the services and agriculture sectors, while credit to the industrial sector recorded a slight decline.
“The growth was driven primarily by the 0.12 and 2.77 per cent increase in credit to the services and agriculture sectors, respectively. Credit to the industry sector, however, declined by 0.24 per cent,” the report stated.
Sectoral analysis indicated that the services sector remained the largest recipient of bank credit, accounting for 56.98 per cent of total lending. Industry accounted for 36.55 per cent, while agriculture received 6.47 per cent.
Credit to agriculture rose to N3.81tn in January from N3.71tn in December, while lending to the services sector increased to N32.86tn from N32.71tn. Credit to the industrial sector stood at N21.21tn.
Within the services sector, finance, insurance and capital market activities attracted N9.16tn in credit, while trade and general commerce received N5.54tn.
The manufacturing sector accounted for the largest share of industrial credit at N6.37tn, while power and energy received N1.59tn and construction attracted N2.44tn.
The CBN report further revealed that broad money supply contracted by 1.50 per cent in January amid tighter liquidity conditions in the banking sector.
According to the apex bank, the decline reflected a reduction in net foreign assets, although the banking system remained stable with prudential indicators staying within regulatory thresholds.
Speaking after the 305th meeting of the Monetary Policy Committee, the CBN Governor, Olayemi Cardoso, disclosed that lending to small and medium enterprises had started improving.
He said new credit to SMEs rose to about N199bn in April 2026 from N153bn in March, particularly within the retail segment of the market.
NEWS
NNPC Records N481bn April Profit amid Strong Revenue Growth
By Tony Obiechina, Abuja
The Nigerian National Petroleum Company Limited has recorded a significant month-on-month surge in performance, with revenue climbing sharply to N4.97tn in April 2026, compared to N2.
77tn posted in March.This represents an increase of about 79 per cent in monthly revenue, according to the company’s April 2026 operational and financial report released on Saturday.
According to the report, profit after tax also rose substantially to N481bn in April, up from N276bn in March, a jump of approximately 74 per cent.Between January and April 2026, NNPC said it remitted a total of N3.
71tn in statutory payments to the Federal Government. This is up from N2.89tn recorded for the first three months of the year.The report stated that crude oil and condensate production increased to 1.68 million barrels per day in April from 1.56 mbpd in March, indicating a marginal recovery in upstream output.
Natural gas production remained largely stable at 7.7 billion standard cubic feet per day in April. Gas sales averaged 4.65 bscf/d, while upstream pipeline availability stood at 79 per cent.
The oil firm stated that it achieved a major infrastructure milestone in April with the successful crossing of the OB3 River Niger pipeline segment, advancing Nigeria’s gas infrastructure goals. Progress also continued on the Ajaokuta-Kaduna-Kano gas pipeline project.
However, NNPC noted challenges, including delays in the start-up of the Trans Ramos Pipeline due to leak detection and facility integrity issues.
Similarly, the NNPC Foundation reportedly sustained its strong corporate social responsibility drive in April. It commissioned three fully rehabilitated wards with 102 beds at the National Orthopaedic Hospital, Lagos, on April 29.
The Foundation also said it delivered humanitarian aid to flood victims in Mokwa, Niger State, and trained 72,657 NYSC members in basic financial literacy during the month under review.
NEWS
Oyo Abduction: Tinubu Orders Full-Scale Action After 16 Days of Agony
By David Torough, Abuja
President Bola Tinubu has intensified efforts to secure the release of 46 abducted pupils and teachers from Oriire Local Government Area of Oyo State, approving the recruitment of 1,000 forest guards and deploying a specialised rescue team to the area.
The President’s directives were conveyed on Sunday by a high-powered Federal Government delegation led by the Chief of Staff, Femi Gbajabiamila, during visits to the affected Esiele and Yawota communities, where armed men abducted dozens of schoolchildren and teachers on May 15.
Members of the delegation included the National Security Adviser, Nuhu Ribadu; the Inspector-General of Police, Kayode Egbetokun’s successor, Olatunji Disu; Chief of Defence Staff, Gen.
Christopher Musa; Minister of Power, Joseph Tegbe; and Special Adviser to the President on Media and Public Communications, Sunday Dare.Addressing community leaders and residents, Gbajabiamila said President Tinubu was deeply disturbed by the incident and had directed security agencies to deploy all necessary resources to ensure the safe return of the victims.
“Whatever it takes, our children and teachers will be brought back home safely,” he assured, adding that the rescue mission would be intelligence-driven and combine both kinetic and non-kinetic approaches to avoid endangering the captives.
The delegation also disclosed that requests by residents for the establishment of a military base in the area had been forwarded to the President for consideration.
The abductions occurred when gunmen riding motorcycles simultaneously attacked schools in Esiele and Yawota communities, including Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School. The attackers reportedly fled into the forest corridor linking the Oriire axis to the Old Oyo National Park after seizing pupils, teachers and motorcycles belonging to residents.
Among those abducted is a two-year-old pupil, Christianah Akanbi, while videos released days after the incident showed the principal of Community Grammar School, Rachael Alamu, and a nursing mother among the captives pleading for assistance.
Public anxiety has deepened following reports that one of the abducted teachers, Michael Oyedokun, was killed in captivity. During the initial attack, the mathematics teacher was reportedly beheaded. A motorcyclist was also killed, while a security operative lost his life after encountering improvised explosive devices allegedly planted by the abductors during early rescue attempts.
As part of measures to strengthen security across the forested belt exploited by criminal gangs, the President approved the recruitment of 1,000 forest guards in partnership with the Oyo State Government.
The presidential team also paid a condolence visit to the Soun of Ogbomosoland, Oba Ghandi Afolabi Olaoye, and later visited the widow of the slain teacher, Mary Oyedokun, assuring her of government support.
The latest intervention follows assurances by Governor Seyi Makinde that security agencies were working round the clock to rescue the victims. The governor said he holds daily strategy meetings with service commanders and remains committed to securing the safe return of all those still in captivity.
Tinubu has also directed security agencies to intensify operations aimed at rescuing the victims and bringing the perpetrators of the attack to justice.
NEWS
Chimaroke Nnamani: Progenitor of Ebeano, Misunderstood Leader, Vindicated at 66.
By Paul Mumeh
Senator Chimaroke Nnamani, former Governor of Enugu State, stands tall as one of the most intriguing, visionary, and intellectually gifted political figures of Nigeria’s Fourth Republic. Physician, philosopher, statesman, motivational speaker, and political strategist, the man fondly called “Ebeano” remains a phenomenon whose impact on politics, governance, and public discourse continues to resonate far beyond Enugu State.
Born on May 30, 1960 in Port Harcourt, Rivers state with an uncommon blend of intellect and courage, Senator Nnamani first distinguished himself in medicine as a specialist doctor before venturing into politics.
Yet even in politics, he never abandoned the analytical depth and precision of a medical professional. His approach to governance reflected diagnosis, treatment, and long-term planning — qualities that made him one of the frontline members of Nigeria’s celebrated 1999 class of governors.As Governor of Enugu State from 1999 to 2007, he redefined governance and political organisation in the state. At a time when democracy was still fragile and experimental in Nigeria, Chimaroke Nnamani emerged as one of the loudest advocates of people-oriented governance. He coined and popularised the now-famous phrase, “Dividends of Democracy,” a concept that has since become a permanent part of Nigeria’s political vocabulary. What many now repeat casually was, for him, a philosophical conviction — that democracy must translate into visible benefits for ordinary citizens.
Beyond governance, Nnamani transformed the political landscape of Enugu State through the establishment of the Ebeano political family — a structure that evolved from a movement into a political dynasty. Since 1999, regardless of changing political parties and shifting alliances, the Ebeano philosophy has consistently produced political office holders; councillors, local government chairmen, state and national assembly legislators, ministers, and governors — while nurturing influential leaders across the state. That enduring relevance remains a testament to the strategic depth and organisational genius of its founder.
As Senator representing Enugu East in two different eras — from 2007 to 2011 and again from 2019 to 2023 — Nnamani remained a powerful voice of reason, intellect, and candour. Highly cerebral and unapologetically frank, he earned respect as a politician who never shied away from difficult truths. He called a spade a spade, regardless of whose interests were affected. In an environment where political correctness often overshadows honesty, Chimaroke Nnamani chose courage over convenience.
His Ebeano Lecture Series further revealed the depth of his intellect and foresight. Through those lectures, he dissected local and global issues with philosophical clarity and uncommon eloquence. Time and again, many dismissed or misunderstood his positions, only for subsequent events to vindicate his predictions and perspectives. Like a thinker ahead of his era, he often saw tomorrow before others fully recognised today.
Perhaps nowhere was this more evident than during the political turbulence of 2023. Against prevailing sentiments within the Peoples Democratic Party, Senator Nnamani openly supported Bola Ahmed Tinubu of the All Progressives Congress. To many of his political associates and constituents, the move appeared controversial, even unacceptable. They rose against him politically, interpreting his action as betrayal or political aberration. Yet, in his characteristic manner, Nnamani insisted on what he believed was the pathway forward.
Ironically, not long after the 2023 elections, many within the same political establishment and among the voices that opposed him began embracing the Tinubu administration with enthusiasm. Those who once condemned his position gradually became apostles of the same political direction he had earlier championed, with several eventually aligning with the APC. Once again, Chimaroke Nnamani’s foresight appeared vindicated.
Yet politics, especially in Nigeria, can be frustrating to the well-intentioned. Despite the sacrifices and political risks he took, Senator Nnamani found himself isolated and unrewarded. Even the political structure he supported did not reciprocate his loyalty in the manner many expected. Left in the political cold, he chose dignity over bitterness and returned to his first calling — medicine — resuming professional practice in the United States, where he is reputed for his work in foetal medicine, the specialised care of unborn babies.
There is profound symbolism in that journey. After years of helping to birth political ideas, institutions, and leaders, the doctor returned to the science of preserving life itself. It reflects the essence of the man: resilient, purposeful, and deeply committed to service regardless of circumstance.
At 66, Senator Chimaroke Nnamani’s story is not merely one of political victories and setbacks. It is the story of conviction. It is the story of a man who often walked ahead of the crowd — misunderstood in the moment but vindicated by history. It is the story of a statesman whose ideas outlived controversies and whose political philosophy continues to shape generations.
As he celebrates this milestone, this should not be a moment of discouragement over the fickleness of politics or the contradictions of human nature. Rather, it is a moment of reflection, renewal, and reaffirmation of purpose. Nigeria still needs voices of courage, intellect, and foresight. The nation still needs statesmen willing to chart difficult but necessary paths toward unity, justice, and development.
For Senator Chimaroke Nnamani, aka Ebeano, the journey at 66 is not an ending but the continuation of a legacy built on vision, resilience, and uncommon courage.
Happy 66th Birthday to a physician of bodies, a diagnostician of society, and a philosopher of politics. May the years ahead bring renewed strength, greater fulfilment, and the satisfaction of knowing that history often remembers pioneers more kindly than contemporaries do.


