Cooking Gas Price Surge Drives Nigerians to Charcoal
A 67% spike in LPG prices forces Nigerian families to ration gas or switch to charcoal, threatening clean energy goals and raising monthly bills to N362 billion.
Category : Economy
IMF Backs Nigeria Reforms, Warns Poverty May Worsen
IMF endorses Nigeria's economic reforms but warns poverty and food insecurity may deepen. Reports 63% poverty rate, 27 million facing food insecurity.
Obi challenges Tinubu on N200tr debt, demands accountability
Peter Obi questions Tinubu's N200 trillion debt surge, seeking transparency; Presidency blames naira devaluation; IMF warns on $5b UAE swap deal risks.
Manufacturers Oppose Proposed Sugar Tax Changes
Manufacturers and stakeholders oppose the proposed Customs and Excise Tariff Amendment Bill 2025, warning it could worsen Nigeria's business environment and increase production costs.
Naira Reserves Rebound with CBN’s New FX Manual
The CBN's new FX manual boosts naira to N1,361.05/$ and reserves to $50.04B, enhancing market transparency and liquidity.
Power crisis, inflation threaten Tinubu's reforms gains
Experts warn that Nigeria's macroeconomic reforms may not benefit citizens unless power shortages, inflation, unemployment, and weak productivity are addressed.
Infrastructure Gaps Hold Nigeria Back in Wi-Fi 7 Race
Nigeria and other African countries lag in Wi-Fi 7 adoption due to infrastructure gaps, regulatory delays, and high costs, risking a wider digital divide.
Woman relocates from UK to Nigeria, laments cost of living
Nkemdilim Melissa Okani moved from the UK to Nigeria 10 months ago and is now struggling with high living costs, sharing her shock on Facebook.
Kano Governor Pledges to Tackle Multi-Dimensional Poverty
Governor Abba Kabir Yusuf of Kano State has renewed his administration's commitment to reducing multi-dimensional poverty, with support from UNICEF and the EU.
CRGER Praises FG, Oyedele for Contractor Fund Release
The Civil Rights Group for Economic Reforms commends the Federal Government and Finance Minister Taiwo Oyedele for approving payments to over 1,240 contractors, boosting economic activity.
FG Funds 1,240 Contractors, CRGER Praises Oyedele Reforms
CRGER applauds FG and Minister Taiwo Oyedele for disbursing funds to 1,240+ contractors, boosting local businesses and transparency.
Woman Picks Gas Over Shawarma Amid Economic Hardship
A Nigerian woman chose to refill 12kg cooking gas for 24k naira instead of buying shawarma and drinks for 35k, sparking reactions about the rising cost of living.
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FG Paid ₦3.3tn Power Debt in April, GenCos Say No Money
Power generation companies in Nigeria say they have not received any funds from the Federal Government's announced ₦3.3 trillion debt settlement plan, despite claims that payments began in April.
Naira Weakens Against Dollar in Official and Parallel Markets
The Nigerian naira depreciated slightly against the US dollar in both official and black markets amid continued FX pressure, with analysts eyeing CBN's new manual.
Toor After Shark Tank: Smart Lockbox Company Shuts Down
Toor, a smart lockbox from Shark Tank Season 8, is no longer in business. Despite a deal with Barbara Corcoran and Kevin O'Leary, the company made only $9,000 in lifetime sales and shut down.
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Petrol hits ₦1,532, gas at ₦1,800: 5 ways rising energy costs hurt
Petrol now sells for up to ₦1,532 per litre, while cooking gas has risen to ₦1,800 per kilogram. Rising energy costs are increasing transport fares, food prices, and operating costs for businesses across Nigeria.
Commonwealth Must Turn Advantage into Real Economic Gains
Commonwealth Secretary-General Shirley Ayorkor Botchwey calls for transforming the bloc's economic advantages into jobs, investment, and growth at Invest Lagos 3.0.
Tinubu Ends Optasia's 12-Year Monopoly in Airtime Credit
President Tinubu directs FCCPC to dismantle Optasia's monopoly in Nigeria's airtime credit and data advance market, aiming to boost local fintech and stem capital flight.
Sanwo-Olu Pitches Lagos as Africa's Investment Hub
Governor Babajide Sanwo-Olu targets ₦4 trillion in investments at Invest Lagos 3.0, highlighting Lagos' economic growth, infrastructure, and role as Africa's commercial gateway.
IVLP Journey Reshapes Trade, Finance, and Africa Views
A Nigerian journalist's IVLP experience in the US transforms understanding of trade, development, culture, and Africa's place in the global economy.
Lagos Targets $300B GDP as Africa's Investment Hub
Lagos State Governor Babajide Sanwo-Olu reaffirms the state's ambition to become Africa's premier investment destination, targeting a $300 billion GDP through strategic investments in infrastructure, technology, and trade.
Shettima: Investment, Enterprise Key to $1tr Economy
Vice President Kashim Shettima says Nigeria's $1 trillion economy target will be driven by private enterprise, strategic investments, and coordinated reforms, with Lagos as a model.
5 Invisible Leadership Tolls That Destroy Execution
Discover the five hidden costs of leadership—fatigue, emotional drain, relationship strain, overload, and guardedness—that silently undermine strategy execution and how to overcome them.
Cartoon: Nigeria's Economic Struggles in Guardian
A Guardian cartoon satirizes Nigeria's economic challenges, highlighting inflation, unemployment, and policy failures through visual commentary.
Triple Intervention Needed for Student Housing Crisis
Fortren & Co calls for tax incentives, university guarantees, and financial aid to address Nigeria's student housing deficit exceeding one million beds.
N3tn Capital Flight Claim Faces Scrutiny Over Market Size
Questions arise over claims of N3tn annual capital flight from Nigeria's airtime lending market, estimated at N300bn-N400bn. Industry stakeholders call for transparency.
Shettima: Private Investment Key to Nigeria's $1 Trillion Economy
Vice President Kashim Shettima says Nigeria's $1 trillion economy goal hinges on private enterprise and reforms, citing Lagos as a model for subnational growth.
Nigeria's Trade Surplus Hits N7.55 Trillion in Q1 2026
Nigeria recorded a trade surplus of N7.55 trillion in Q1 2026, a 340.88% increase from Q4 2025, driven by higher crude oil exports and lower petroleum imports.
CBN to Use AI to Tackle Digital Payment Fraud in Nigeria
The Central Bank of Nigeria plans to use AI under PSV 2028 to strengthen fraud detection and secure digital payments, addressing cyber threats like phishing and unauthorised transactions.
FG Approves Payments to 1,240 Contractors Nationwide
The Federal Government approved payment of verified debts to over 1,240 contractors across MDAs, prioritizing claims under N100 million to boost small businesses.
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