By Ogungbayi Adeyemi S. | adeyemi@ddnewsonline.com
Editor, DDNews |
National News
Nigerian Lawmakers Approve Increased $49.38 Billion 2026 Budget: The National Assembly has approved a ₦68.30 trillion ($49.38 billion) budget for 2026, an increase from the initial ₦58.47 trillion proposed by President Bola Tinubu. The increase is meant to accommodate outstanding capital projects and prevent unresolved obligations from weighing on the 2026 fiscal program.
Sanwo-Olu Unveils 2026 Lagos Economic Blueprint: Lagos State Governor Babajide Sanwo-Olu has unveiled the 2026 edition of the Lagos Economic Development Update, focusing on driving inclusive growth and ensuring economic progress benefits all residents.
Naira-for-Crude Deal Shields Nigeria from Middle East War Disruption: Nigeria’s naira-for-crude policy and the Dangote Refinery’s ramped-up output have shielded the country from the global oil supply crisis triggered by the US-Israel-Iran war.
The Quiet Shift: How TLX Limited Is Making Property Ownership Accessible to All Nigerians: For generations, owning property in Nigeria has felt like a distant dream something reserved for those with deep pockets, established stability, or the patience to wait until “everything aligns perfectly.”
Wike and Bala Mohammed in Fierce Row Over PDP, APC: Minister of the Federal Capital Territory, Nyesom Wike, and Bauchi State Governor, Bala Mohammed, are at odds over Mohammed’s possible defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) or the African Democratic Congress (ADC). Wike described Mohammed’s potential exit as “good rance to bad rubbish”.
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NASS Passes N68trn 2026 Budget: The National Assembly has approved a N68.323 trillion budget for 2026, representing a N9 trillion increase from the initial proposal by President Bola Tinubu. The budget focuses on security, health, education, infrastructure, and social welfare.
ADC Accuses INEC of Bias: The African Democratic Congress (ADC) has accused the Independent National Electoral Commission (INEC) of siding with the government, alleging pressure from the government influenced INEC’s interpretation of a Court of Appeal ruling.
Ekiti Election “Done Deal” – APC: The APC Campaign Council chairman for Ekiti State, Senator Opeyemi Bamidele, claims the June 20 governorship election is a “done deal”, targeting 500,000 votes.
African News
Fuel Prices Surge in Africa as Iran War Hits Supply: African governments have imposed sharp fuel price increases due to the Iran war, sending global oil prices surging and threatening to spark inflation across the continent.
Nigerian Army Probes Alleged Extrajudicial Killing in Maiduguri: The Nigerian Army is investigating an alleged extrajudicial killing in Maiduguri, sparking concerns about human rights.
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South African Rand Falls Over Iran War Concerns: The South African rand fell more than 1% as US President Donald Trump vowed more aggressive strikes on Iran, spooking investors.
International News
War: Trump Says Objectives ‘Nearing Completion’: US President Donald Trump said the US is nearing completion of its military objectives in Iran, but warned of further escalation.
Israel Faces Iranian Missile Strikes: Israel faced four rounds of Iranian missile strikes overnight, while Saudi Arabia intercepted one ballistic missile and five drones.
Strait of Hormuz Remains Under Iranian Control: Iran’s Islamic Revolutionary Guard Corps said the Strait of Hormuz remains firmly under its control.
Global News
World Shares Rally, Oil Prices Fall on War De-Escalation Hopes: Global stocks rallied and oil futures retreated on hopes of a de-escalation in the Iran war.
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Oil Prices Surge on Trump Comments: Oil prices surged and stock futures fell as Trump’s comments dashed investors’ hopes for a clear timeline for an end to the Iran war.
Stock Exchange News
Nigerian Stock Exchange Sees Bullish Trend: The Nigerian Stock Exchange (NGX) All-Share Index (ASI) rose by 0.40% to close at 201,287.78 points, pushing the year-to-date return to 29.35%.
Top gainers: include Multiverse Mining and Exploration Plc, International Energy Insurance Plc, and Chams Holding Company Plc zawya.com.
Most Traded Stocks: Vodafone Idea, Ola Electric Mobility, Tata Silver Exchange Traded Fund, Tata Gold Exchange Traded Fund, and YES Bank were among the most traded stocks on the NSE livemint.com.
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Exchange Rate News
Naira Depreciates Against Dollar: The Naira depreciated to N1,420 per dollar in the parallel market from N1,415 per dollar on Monday. At the Nigerian Foreign Exchange Market (NFEM), the Naira traded at N1,387 per dollar vanguardngr.com.
Current Exchange Rates:
USD: Buy ₦1,415, Sell ₦1,425
EUR: Buy ₦1,600, Sell ₦1,640
GBP: Buy ₦1,870, Sell ₦1,900
Entertainment News
Nigerian Veteran Journalist, Filmmaker, Conscious Musician & Proud Idoma Son Willie Workman Drops Powerful New Singles: “Awake Africa” and “Love Without Conditions” Multi-award-winning Nigerian artist Amb. Willie Workman Oga, a seasoned journalist, filmmaker, actor, and conscious musician of Idoma heritage from Otukpa in Benue State, has released two inspiring new singles that are already creating waves across the continent.
Nigeria Establishes Fashion Federation to Promote Local Industry: The Federal Government has launched the Nigeria Fashion Federation to boost the country’s fashion industry.
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Ciara Embraces Spirit of Lagos at Fashion Week: American singer Ciara showcased her love for Lagos during the city’s fashion week, donning Adire attire.
Zendaya Teases Bridal-Themed Fashion: The actress wore Vivienne Westwood Bridal gown to the 2015 Oscars and sported a Louis Vuitton gown at a movie premiere.
Shaffy Bello Reinvents Herself at 55: The veteran actress has revamped her style, embracing bold fashion choices and timeless elegance.
Dolapo and Kiki Osinbajo’s Mother-Daughter Bond Extends to Crochet: The duo’s shared passion for crochet has bridged their family and fashion interests.
Sport News
Super Eagles Rise in FIFA Rankings: Nigeria’s Super Eagles have moved up to third in Africa and remain 26th globally in the latest FIFA rankings. Morocco leads the African rankings, followed by Senegal.
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Alex Iwobi Sent Off in Nigeria-Jordan Friendly: Fulham star Alex Iwobi was sent off for a bizarre tackle in Nigeria’s 2-2 friendly draw with Jordan. Moses Simon and debutant Emmanuel Fernandez scored for Nigeria.
Nigerian Athletes Shine in Collegiate Events: Nigerian athletes secured 32 medals at the NCAA indoor conference championships, setting new African, national, and NCAA records.
Quadri Aruna Faces World Cup Exit: Nigerian table tennis star Quadri Aruna lost 3-0 to Félix Lebrun, putting him on the brink of an early ITTF World Cup exit.
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