Compilations of top 10 key latest stories that you need to know this Monday morning, 2nd February, 2026
Travels: Presidency spends N34bn on forex in two years
The Presidency spent at least N34.39bn on foreign exchange purchases for international travel and related obligations over a two-year period, findings by The PUNCH have shown.
The figure is according to data compiled from GovSpend, a government spending tracker managed by BudgIT.
The records, which cover transactions by the State House, Presidential Air Fleet, the Office of the Chief of Staff, and operations linked to the President, Vice President, First Lady, and their aides, show a sharp swing in spending patterns between 2024 and 2025.
An analysis of the data shows that 2024 accounted for the bulk of the expenditure, with total forex purchases of N29.35bn, while 2025 recorded N5.04bn.
This represents a year-on-year decline of 82.8 per cent, aligning with broader trends in the foreign exchange market where the naira stabilised following policy reforms and improved dollar inflows.
The transactions largely relate to the purchase of foreign currencies for official trips, aviation operations, estacodes, training programmes, and logistics for international engagements involving top executive officials.
The ongoing strike by the Joint Health Sector Unions has entered the third month, crippling activities in government-owned hospitals across Nigeria, leaving patients stranded and forcing many to seek essential services outside public health facilities.
Health workers’ strike grounds hospitals
Now in its third month, the industrial action has grounded critical services, particularly in hospital pharmacies, laboratories, and other support departments, significantly disrupting healthcare delivery.
While the industrial action has severely disrupted federal health institutions, health workers in state-owned hospitals in Ekiti and Benue states have largely remained on duty, mitigating the impact on patients.
At the same time, resident doctors, nurses, and midwives in some state facilities, such as the Benue State University Teaching Hospital, Makurdi, have embarked on separate industrial actions, citing unpaid salaries, pension issues, and dilapidated infrastructure.
Failed coup: I was marked for arrest, assassination –Defence minister
The Minister of Defence, Gen. Christopher Musa (retd.), on Sunday disclosed that he was among the intended targets of the recently foiled coup plot against President Bola Tinubu, revealing that the conspirators planned to arrest or shoot him if he resisted.
Musa made the disclosure while speaking as a guest on Politics Today, a Channels Television programme, where he also described the suspects behind the plot as “a bunch of very unserious individuals.”
While admitting that he played a key role in helping security agencies nip the plot in the bud, the former Chief of Defence Staff said he was personally marked for arrest by the plotters.
“I was also a target, I am sure you know. I was supposed to be arrested, and if I refused, I was supposed to be shot,” he said.
Grammys 2026: Tyla beats Burna Boy, Davido, Ayra Starr to win best African music performance
South African singer, Tyla, has won the Best African Music Performance award at the 2026 Grammy Awards, beating Nigerian stars Burna Boy, Davido and Ayra Starr in the category.
Tyla clinched the prize with her song, Push 2 Start, ahead of Burna Boy’s Love, Davido’s With You featuring Omah Lay, Ayra Starr and Wizkid’s Gimme Dat, as well as Eddy Kenzo and Mehran Matin’s Hope & Love.
The category, introduced to spotlight African music on the global stage, once again featured strong Nigerian representation, with three Nigerian artistes — Burna Boy, Davido and Ayra Starr — making the final shortlist.
Tyla is a two-time winner in the category since its introduction in 2024, when she first clinched the award with Water, making her the inaugural recipient.
Prioritise your health, wellbeing Anambra first lady urges residents
The wife of the Anambra State Governor, Dr Nonye Soludo, has urged residents, particularly women and mothers, to prioritise their health and overall wellbeing, emphasising that a healthy body is the foundation of a productive life and that health is the “greatest wealth”.
Soludo, who is also the founder of the Healthy Living with Nonye Soludo said people must engage in holistic health and self-care approach that includes physical, mental, emotional, and spiritual well-being to reduce preventable, lifestyle-related illnesses.
The Anambra first lady stated this in a press statement she released on Monday as part of her monthly health and fitness message to the residents.
She urged individuals to nourish themselves well to think well, move well, work well, love well and sleep well.
Stocks, oil, precious metals plunge on volatile start
Equities, oil and precious metals plunged Monday to extend the volatility that struck markets at the end of last week, with concerns about elevated tech valuations once again casting a shadow.
Investors resumed Friday’s rollercoaster ride on trading floors, as they assessed geopolitical developments, the latest batch of earnings from market heavyweights and the prospect of US interest rate cuts.
After a strong start to the year, fuelled by fresh hopes for artificial intelligence, stocks went into reverse last week as traders again questioned the wisdom of the vast sums of cash pumped into the sector and worried about when they would see returns.
That has also raised fears of a tech bubble that could soon pop after a surge to record highs last year.
The latest round of selling came after Microsoft announced a surge in spending on AI infrastructure, which revived concerns that companies could take some time before seeing a return on their investments.
NLC, TUC plan peaceful solidarity rally February 3
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) say they will stage a peaceful solidarity rally on Feb. 3 in support of the Joint Union Action Committee (JUAC).
The unions announced this in a joint statement signed by Mr Benson Upah, General Secretary of the NLC, and Mr Nuhu Toro, Secretary General of the TUC, in Abuja.
The solidarity is in support of the strike by Federal Capital Development Authority (FCDA) workers, led by JUAC, over unpaid salaries.
Workers under JUAC commenced an indefinite strike on Jan. 19, shutting down key administrative offices, including the FCTA Secretariat and the FCDA.
The strike followed the expiration of a seven-day ultimatum issued on Jan. 7, demanding that the FCTA management address long-standing labour and welfare grievances.
Insecurity: Northern leaders pledge support for peace in South-East, South-South
The Northern Traditional Rulers Council for the South-South and South-East Regions has pledged its support to the security agencies and State Governments in tackling security challenges across the regions.
The Chairman of the Council, Alhaji Yaro Danladi, disclosed this on Sunday, while briefing newsmen on the resolutions reached at the council’s two-day emergency meeting in Umuahia.
Danladi, who is also the leader of the Hausa Community in Abia, said the council resolved that northern communities would work closely with state governors, host communities, and security agencies to promote peace and harmony.
“We agreed to work hand-in-hand with our governors and live peacefully with the indigenous people of our host states,” he said.
Danladi further explained that the meeting was convened in response to emerging security concerns in the region, adding that the council also resolved to assist security agencies with timely intelligence.
FG targets 25% manufacturing GDP share in 5 years
The federal government has set a target of manufacturing contribution to Nigeria’s economy at between 20 percent and 25 percent by 2030 with the imminent launch of the Nigerian Industrial Policy.
This is even as available data indicate that the sector has a long way to go despite expectations of modest improvement in the near term.
Manufacturing’s share of real Gross Domestic Product (GDP), which stood at over 20 per cent in the early 1990s, has steadily declined over the past three decades to less than 9 per cent in 2024, underscoring deep-seated structural weaknesses in Nigeria’s industrial base.
Pound to Naira exchange rate today, February 2, 2026
The British Pound Sterling (GBP) started the first Monday of February 2026 with a minor uptick in the Nigerian foreign exchange market, following a week of relative cooling.
As the new month’s trading activities commence, the Naira is seeing increased pressure from the Pound in the official window, while the parallel market remains within a familiar range.
In the Nigerian Foreign Exchange Market (NFEM), the British Pound opened at 1,908.75 per Naira. Early morning trading saw the rate climb as high as 1,916.86 before slightly retreating. By mid-morning on February 2, the exchange rate settled at approximately 1,909.72 per Naira.
