Author: Prima News

Foreign direct investment into Nigeria plunged by 80 per cent in January 2026 as foreign investors increasingly channelled funds into bonds and money market instruments, despite a sharp rise in overall capital inflows, the latest Economic Report of the Central Bank of Nigeria has shown. The report revealed that FDI fell to $30m in January from $150m in December 2025, while foreign portfolio investment surged to $3.37bn from $940m over the same period, showing investors’ preference for debt assets over long-term productive investments. According to the CBN, “Direct investment fell by 80.0 per cent to $0.03 billion in the review…

President Bola Tinubu (PHOTO CREDIT: X @aonanuga1956) Seeing how empires die, strongmen collapse and kingdoms go up in ruins, Yoruba seek to showcase the brevity of life. In this, they attempt to demonstrate that all life’s attainments are perishable. In metaphors of the masquerade festival and the morning dew that perches on leaves by sidewalks leading to the farm (enini), they bring out the certainty of finality very succinctly. In two short allegories, they perfectly capture the fleeting, short-lived nature of political influence and authority. So, they say, the yearly masquerade festival will soon come to an end and the son of the…

Nigerian singer David “Davido” Adeleke has distanced himself from the City Boy Movement (CBM), established in 2022 as a youth-driven support group for President Bola Tinubu’s 2023 election campaign. Davido’s’ best friend, Cubana Chief Priest (CP), is a prominent member of the movement, which mobilised youths in support of Mr Tinubu’s Renewed Hope Agenda. CP served as CBM’s Imo State Director and on several occasions, including in interviews, pledged to do everything possible to secure Mr Tinubu’s re-election. The “Unavailable” crooner clarified on his X page after responding to an X user, Princess Luna (@princessluna237), who challenged him following his…

Nigeria’s senior national team, the Super Eagles, are expected to arrive in Poland on Sunday as preparations continue for their international friendly match against the Polish national team. The friendly encounter will be played in Warsaw on June 3 and forms part of the team’s build-up to upcoming Africa Cup of Nations qualifying matches. Head coach Eric Chelle will be without two of his key attacking players, Ademola Lookman and Victor Osimhen, for the games against Poland and Portugal. Lookman has been given time off after a long and demanding season, while Osimhen has been excused to attend to issues…

British-Nigerian rapper and actor Dave (David Orobosa Michael Omoregie) and Nigerian singer Tems (Temilade Openiyi) have been featured in Spotify’s 2026 “Songs of Summer” predictions released on May 29. The list, published by Spotify and sighted by our correspondent on Sunday, was compiled by the platform’s global editorial team and highlights songs selected as potential summer hits based on trends identified across global music streaming. Spotify said its editors closely track the musical landscape and select tracks they believe could shape seasonal listening across genres and countries. “It’s a song that makes you feel good, that you can listen to…

A former European Commission employee, Latyr had been living a stable middle-class life in Belgium. But that stability gave way to uncertainty almost overnight, as he found himself sleeping in a tent on the streets of Spain. There, he remained trapped for nearly four years while authorities investigated a fraud case. He was ultimately cleared of any wrongdoing.Now, at the World Urban Forum in Baku, Azerbaijan, he is sharing his story publicly through the documentary What Nobody Wants to See.At WUF13, UN-Habitat has brought together partners including The Gere Foundation and HOGAR SÍ to place homelessness at the center of…

The Child Empowerment Fund, on Thursday, donated a six-month supply of sanitary pads to 100 girls at the Children Correctional Centre for Girls, Idi-Araba, Lagos, as part of activities marking the 2026 Menstrual Hygiene Day. The donation, carried out under the “Project Red Bloom Box 2026,” was organised in collaboration with the Tarfs Foundation and Elora Foundation. Menstrual Hygiene Day is observed globally every May 28 to eradicate the stigma and shame associated with menstruation and to highlight the importance of proper menstrual hygiene management. Speaking during the event, the Programmes Manager of the Child Empowerment Fund, Temitope Akinrotimi, said…

SoftBank Group announced today that it plans to spend up to €75 billion (around $87 billion) to expand data center capacity in France. The goal, the firm said, is to develop and operate up to 5 gigawatts of additional data center capacity. The first phase of the plan involves building data centers in Dunkirk (Loon-Plage), Bosquel, and Bouchain to deliver 3.1 gigawatts of capacity to the Hauts-de-France region by 2031. SoftBank, which is both an investor in and customer of OpenAI, says this will be its largest AI infrastructure investment in Europe. In a statement, French economic minister Roland Lescure described…

The Nigeria Security and Civil Defence Corps has arraigned 15 Chinese nationals and nine Nigerians before the Federal High Court in Abuja over alleged illegal lithium mining in Nasarawa State. The defendants were arraigned before Justice Ofili-Ajumogobia, Federal High Court, Abuja, following their arrest on May 16, 2026, in Kokona Local Government Area of Nasarawa State. The Commander of the Mining Marshals, Attah Onoja, disclosed this in a statement released on Sunday. According to court documents, the defendants were accused of conducting mining operations without lawful authority within an area covered by Exploration Licence No. 036528-EL, owned by TIMADIX Geomin…

Presco Plc has announced the appointment of Mr. François Van Hoydonck as a Non-Executive Director, strengthening its board with an experienced agribusiness and finance professional with more than four decades of industry experience. The company disclosed the appointment in a notification to the Nigerian Exchange Limited (NGX), stating that Van Hoydonck was appointed to fill a casual vacancy on the Board of Directors. The appointment will be presented to shareholders for ratification at the company’s next Annual General Meeting. Van Hoydonck brings extensive experience in agribusiness, plantation management, finance and corporate governance gained through a long career with Belgian agribusiness…