General
Nigeria’a Broad Money Supply Jumps 51% to N108.96trn
By Adedapo Adesanya
Nigeria’s Broad Money Supply (M2) increased by 51 per cent year-on-year to N108.96 trillion in November 2024, spurred by domestic borrowings by the federal government from the private sector.
According to the Central Bank of Nigeria’s Money and Credit Statistics data released on Monday, these latest figures were higher than the N72.03 trillion in the corresponding period of 2023.
Broad Money Supply (M2) represents cash and demand deposits as well as savings deposits, money market deposits, and time deposits.
According to the report, the M2 recorded a six-month increase since April 2024.
The trend, however, reversed in October 2024, declining month-on-month by 1.5 per cent to N107.7 trillion from N109.4 trillion in September 2024, before shooting up again by 1.2 per cent to N108.96 trillion in November.
The report also showed that the money supply increase followed positive component changes.
Quasi-money, including savings deposits, time deposits, and other near-money assets, also rose marginally.
The data showed that Quasi Money grew by 1.96 per cent year-on-year to N72.7 from N71.3 trillion in November 2023.
Similarly, Demand Deposits increased by 34.4 per cent year-on-year to N31.6 trillion in November 2024 from N23.2 trillion in November 2023.
Currency outside banks increased by 50.9 per cent year-on-year to N4.65 trillion in November 2024 from N3.08 trillion in November 2023.
Narrow money (M1), also grew by 38 per cent year-on-year to N36.3 trillion in November 2024 from N26.3 trillion in November 2023.
According to the CBN, credit to the government increased by 54 per cent year-on-year to N39.6 trillion in November 2024 from N25.7 trillion in November 2023.
On the other hand, credit to the private sector rose year-on-year by 27 per cent to N75.96 trillion in November 2024 from N59.7 trillion in November 2023.
This resulted in a 91 per cent year-on-year rise in net domestic credit of N115.6 trillion in November 2024 from N60.5 trillion in the corresponding period of 2023.
General
US Strikes Terrorists in Sokoto on Trump’s Directive (VIDEO)
By Aduragbemi Omiyale
The United States government gave some terrorists in Nigeria a Christmas gift that sent many of them to the great beyond.
On Thursday, December 25, 2025, the United States President, Mr Donald Trump, directed his country’s military to launch air strikes on camps of members of the dreaded Islamic State in Iraq and Syria (ISIS) in Sokoto State.
According to Mr Trump, the military action, which he threatened to carry out a few weeks ago if the Nigerian government does not stop the killing of Christians in the country, occurred on Thursday night.
“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria, who have been targeting and viciously killing, primarily, innocent Christians, at levels not seen for many years, and even Centuries!
“I have previously warned these Terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was.
“The Department of War executed numerous perfect strikes, as only the United States is capable of doing.
“Under my leadership, our country will not allow radical islamic terrorism to prosper. May God bless our military, and Merry Christmas to all, including the dead terrorists, of which there will be many more if their slaughter of Christians continues,” Mr Trump wrote on his Truth Social platform.
In a video on X, formerly known as Twitter, the Department of War of the United States posted the below video of the air strikes;
https://twitter.com/DeptofWar/status/2004351717131903272
General
Gbajabiamila Remains President Tinubu’s Chief of Staff—Presidency
By Modupe Gbadeyanka
The presidency has reacted to speculations that Mr Femi Gbajabiamila has been removed as the Chief of Staff to President Bola Tinubu.
It was alleged that Mr Gbajabiamila has been replaced with the President’s Principal Private Secretary, Mr Hakeem Muri-Okunola.
Mr Muri-Okunola went to Abuja to take up this role after leaving as the Head of Service of the Lagos State Civil Service.
Reacting to the reports on social media on the purported removal of Mr Gbajabiamila, a former Speaker of the House of Representatives, the presidency said no such change has been made.
In a statement signed on Thursday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, members of the public were advised to disregard the report as “there is absolutely no truth to this story.”
“The Chief of Staff remains in his position. The Principal Private Secretary likewise remains in his role. Hakeem Muri-Okunola has not replaced Femi Gbajabiamila as Chief of Staff.
“The viral claim is a fabrication by mischievous purveyors of fake news whose sole aim is to create disharmony within the government.
“We reiterate that news media should always verify their information before publishing or sharing on social media,” the statement said.
General
Eyesan Promises Bold Reset in Nigeria’s Upstream Sector as New NUPRC Head
By Adedapo Adesanya
The new chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has assumed office with a clear message to advance the country’s upstream oil and gas sector in line with the mandate of the commission as enshrined in the Petroleum Industry Act (PIA) 2021.
According to a statement signed by Mr Eniola Akinkuotu, the Head of Media & Strategic Communications at the upstream regulator, the NUPRC boss made this assertation during her first town hall meeting with management and staff on Tuesday December 23, 2025.
She further disclosed plans to make the commission a business enabler and re-ignite investments in the upstream sector.
Recall that President Tinubu nominated Mrs Eyesan to take over the NUPRC after the abrupt resignation of her predecessor, Mr Gbenga Komolafe as well as his counterpart in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed.
In her new capacity, Mrs Eyesan also set a firm production ambition of growing Nigeria’s output and increasing gas production.
“The goal is that we must enable the industry, we are regulators. We must enable the industry from our interactions with the stakeholders, from our interactions with everybody.
“My main objective is to ensure that we make a difference. I believe the NUPRC is at the Center of the industry,” she said.
The commission boss who has served for over three decades in the oil and gas sector, promised to entrench digitisation, transparency and efficiency in operations.
The NUPRC head said with the support of staff and management, the NUPRC will become the gold-standard regulator in Africa. She also promised capacity development, stronger technical depth and sustained engagement with stakeholders, unions and professional teams.
On leadership style, Mrs Eyesan promised an open-door policy and frequent staff engagement, while also soliciting for support and cooperation as the industry embarks on the next phase of transformation.
“If we work together we can unleash opportunities, I don’t see impediments only opportunities,” she added.
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