Compilations of top 10 key latest stories that you need to know this Friday morning, 30th January, 2026
FG’s N9tn domestic loans surge drains lifeline from businesses
The Federal Government’s domestic borrowings from financial market operators rose sharply in 2025 despite high interest rates, widening the gap between public and private sector access to credit, according to data obtained from the Central Bank of Nigeria on Thursday.
An analysis of money and credit statistics showed that credit to the Federal Government outpaced private sector borrowings by N9.19tn, representing a 695.6 per cent swing in 2025, reflecting heightened fiscal pressures and increased reliance on local funding sources.
In contrast, net credit to the private sector declined by N1.543tn in 2025, highlighting the challenges faced by businesses amid tight monetary conditions and elevated interest rates.
This divergence underscored a growing imbalance in the allocation of financial system resources, with the public sector absorbing a larger share of available liquidity.
The trend points to a classic crowding-out effect, as rising government demand for funds limits banks’ capacity to extend credit to the productive sector, while many organised businesses increasingly prioritise settling existing debts rather than taking on new borrowing.
Anthony Joshua breaks silence after fatal crash
British-Nigerian boxer Anthony Joshua has spoken publicly for the first time following the fatal road accident that claimed the lives of two of his close friends in December 2025.
In a video posted on his official Instagram page on Thursday, the former heavyweight champion expressed grief over the loss of his friends, Latif Ayodele, popularly known as Latz, and Gami Sina, describing them as his “brothers.”
“So this is the best way I could reach out to all of you, far and wide, worldwide, who were showing so much love, care, support through that tragic, traumatic time where we lost Latz and Sina in Nigeria,” Joshua said in the video.
The accident, which occurred on December 29, 2025, along the Lagos–Ibadan Expressway, also left the boxer injured.
Joshua said the incident came unexpectedly after the group had made plans to conclude the year together.
“The last time I spoke to you guys was in Miami. We had so many plans to wrap up 2025, and we were on a mission.
We went back home, went to see our families, and everything just got flipped upside on its head,” he said.
Reflecting on the loss, Joshua said the death of his friends had deeply affected him and their families.
Meter costs spark DisCos–FG showdown on tariffs
The Bureau of Public Enterprises, an agency of the Federal Government, has said that electricity consumers will pay for the ongoing free meter installation through their tariffs.
The disclosure comes amid a row with electricity distribution companies over who is responsible for covering the cost of the prepaid meters being rolled out under World Bank–funded programmes.
According to The PUNCH, the Federal Government and electricity distribution companies have been at loggerheads over who bears the cost of prepaid meters being rolled out by the Federal Government.
The disagreement erupted after the Minister of Power, Adebayo Adelabu, directed that prepaid meters procured under the World Bank–funded Distribution Sector Recovery Programme must be installed for electricity consumers free of charge, warning that any official or installer found collecting money would be prosecuted.
Firm urges Akwa Ibom communities to comply with NUPRC-approved plan
Oriental Energy Resources Limited, an indigenous oil and gas exploration company operating in Akwa Ibom State, has urged the management of the Effiat and Mbo Host Communities’ Development Trust to adhere strictly to the Community Development Plan approved by the Nigerian Upstream Petroleum Regulatory Commission.
The company also charged the trust managers to uphold the Trust’s constitution, operating manual and code of conduct.
The Managing Director of Oriental Energy Resources Limited, Mustapha Indimi, stated this while addressing members of the Management and Advisory Committees, traditional rulers and community leaders at the first Annual General Meeting of the Trust held in Uyo on Thursday.
The Trust, which is managed through a three-tier administrative framework comprising the Board of Trustees, Management Committee and Advisory Committee, was inaugurated by Oriental Energy Resources Limited, the settlor, in compliance with the Petroleum Industry Act 2021, to drive development in the host communities.
Oriental Energy Resources Limited, an indigenous oil and gas exploration company operating in Akwa Ibom State, has urged the management of the Effiat and Mbo Host Communities’ Development Trust to adhere strictly to the Community Development Plan approved by the Nigerian Upstream Petroleum Regulatory Commission.
Sachet alcohol ban: NAFDAC shutting members’ companies, FOBTOB insists
The Food, Beverage and Tobacco Senior Staff Association, FOBTOB, has insisted that the attempt by National Agency for Food and Drug Administration and Control, NAFDAC, to enforce its recent ban on sachet alcohol has disrupted operations of many of its members in different parts of the country.
Organised labour and consumer rights group have staged protests in Lagos and Abuja against NADFAC’s ban, explaining that the policy could displace no fewer than 5.5 million Nigerians from their jobs.
To address public concerns, NAFDAC Director-General, Prof. Mojisola Adeyeye, said the agency’s action targets only alcohol packaged in sachets and containers smaller than 200ml, not manufacturers, stating it has not shut down any alcohol-producing company while enforcing the ban.
However, FOBTOB, in its reaction by President, Jimoh Oyibo, yesterday, said, “NAFDAC’s assertion that it ‘did not close down any company that makes alcohol’ and that its actions were limited to banning alcohol in sachets and small containers below 200ml does not, fully reflect the commercial and operational realities within the industry today.
Dollar to Naira exchange rate today, January 30, 2026
The Nigerian Naira maintained its robust performance against the United States Dollar as it entered the final trading session of January 2026.
The local currency continues to hover around the significant 1,390 support level in the official window, reflecting the positive impact of sustained liquidity measures and improved investor sentiment.
At the Nigerian Foreign Exchange Market (NFEM), the Naira opened the trading day with a strong showing, starting at approximately 1,388.07 per dollar.
Throughout the early morning session on Friday, the rate experienced minor fluctuations as market participants adjusted to end-of-month corporate demands. By mid-morning, the exchange rate settled at 1,391.00 per dollar.
Northern CAN, Christian clerics reject calls for sack of INEC chair
The Christian Association of Nigeria, CAN, in the 19 Northern states and the Federal Capital Territory, FCT, has rejected calls by the Supreme Council for Shari’ah in Nigeria, SCSN, for the removal of the Chairman of the Independent National Electoral Commission, INEC, Prof. Joash Amupitan, describing the demand as an attempt to politicise religion and undermine a key national institution.
SCSN had earlier called for the immediate removal and prosecution of the INEC chairman, over a legal brief in which he reportedly acknowledged claims relating to persecution of Christians in Nigeria.
This came as Christian clerics operating under the umbrella of National Christian Alliance for Good Governance in Nigeria, NCAGG have rejected calls for the removal of Amupitan, describing the demand as undemocratic and ill-advised ahead of the 2027 general elections.
Katsina State CJ: no bandits released in exchange for peace
No bandit has been released in exchange for peace in Katsina State, Chief Judge Musa Abubakar Danladi has said.
He dismissed claims that 70 bandits were released in the state and described the allegation that bandits were released in exchange for peace as “unwarranted and unfounded”.
Justice Danladi clarified in Katsina during an exclusive interview with The Nation, insisting that no detained bandit had been freed under any arrangement.
The state has been awash with reports alleging that the Katsina State Government negotiated with bandits for the release of 70 of their detained suspects.
The Chief Judge described the reports as false.
“It is not true.
The state government has repeatedly made it clear that it will not negotiate with bandits, and it has remained resolute on that position,” he said.
Senate probes ‘deplorable’, snail-speed train services
The Senate yesterday raised the alarm over the deteriorating state of Nigeria’s rail services, declaring that Abuja–Kaduna-bound trains now move more slowly than bicycles.
‘’If you are using a bicycle, you will get to Kaduna from Abuja faster than the train,’’ said Senate President Godswill Akpabio.
He made the remark while inaugurating an ad hoc committee to conduct a comprehensive investigation into the railway system.
The Adams Oshiomhole-led committee, which has six weeks to submit its report, will look into rail operations in the country, equipment quality and management efficiency. Other members are Senators Hussaini Babangida, Enyinnaya Abaribe, Adamu Aliero, Wasiu Eshinlokun, Osita Ngwu, Solomon Adeola, Ibrahim Dankwambo, Ireti Kingibe, Ede Dafinone, Sahabi Yau and Abdul Ningi.
The constitution of the committee followed a robust debate by Senators on what they considered a sharp decline in operations along the Abuja–Kaduna–Kano rail corridor, once reputed as a flagship transport project.
Zulum okays direct payment of local govt allocations
Borno State Governor Babagana Zulum okayed the immediate commencement of direct payments of monthly statutory allocations to the accounts of the state’s 27 local government areas.
This was announced by Acing Governor Umar Kadafur after presiding over the inauguration of the new council chairmen in Maiduguri yesterday.
Kadafur, who underscored Zulum’s administration’s commitment to strengthening democratic institutions at the grassroots level, explained that the approval complied with Supreme Court’s judgment and President Bola Tinubu’s December 2025 call to all governors.
The acting governor said:‘’
Borno is the only state where local governments will now receive their allocations directly.
“This is a credit to His Excellency and is out of transparency to ensure that governance requires collective hands on the deck.
He (Zulum) believes in the local government administrative process, which is why he approved giving you the money directly so you can go and work.
The era of local government complaining about bureaucracy in approving funds to you is gone.
