Petrol Price Hits N1,532.93 Per Litre in April
NBS reports petrol price rose to N1,532.93/litre in April, up 18.97% from March. Diesel also surged 50.16% month-on-month to N2,474.69/litre.
Category : Economy
Subsidy Removal Saved Nigeria from Bankruptcy Tinubu
President Tinubu says fuel subsidy removal saved Nigeria from bankruptcy, with economic reforms showing gains. Governors praise the policy at a Sallah meeting in Lagos.
Tinubu: Nigeria's Economy More Competitive Than 2023
President Tinubu urges support for reforms, citing stronger public finances, booming stock market, and infrastructure expansion in his third anniversary speech.
HURIWA Calls for Economic Emergency Over Cost-of-Living Crisis
HURIWA demands an economic emergency declaration in Nigeria as the cost-of-living crisis pushes millions into hardship, citing inflation, unemployment, and food insecurity.
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CPPE Hails 3.89% GDP Growth, Urges Stronger Capacity
CPPE praises Nigeria's 3.89% Q1 GDP growth, highlighting non-oil sector dominance but warns sustainable transformation needs industrialisation and higher value addition.
Tinubu Reforms: Macro Stability Amid Economic Survival Strain
Three years after President Tinubu's economic reforms, macroeconomic indicators show recovery, but Nigerians face rising costs and weak purchasing power.
Nigeria's Economy and Statistical Manipulation Analysis
An in-depth look at how fiscal opacity, hidden budgets, and data manipulation threaten Nigeria's economic stability and democratic trust.
Transport Reforms in Abia, Enugu: Progress and Pain
Enugu and Abia states push multimodal transport integration, but residents cite livelihood losses, inadequate compensation, and neglect of other sectors.
How Much to Be Considered Rich in Nigeria? Explained
Discover the income thresholds for being considered rich in Nigeria. Earning ₦2 million monthly places you among the top earners. Learn more.
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NELFUND Denies Suspension of Student Upkeep Allowances
NELFUND refutes fake reports of student upkeep suspension, warns against AI-generated misinformation, and confirms continued disbursement.
Power Grid Vandalism: A National Economic Emergency
Nigeria loses ₦15 billion daily due to electricity infrastructure vandalism. This crisis of poverty, crime, and policy failure demands urgent action.
CPPE Hails 3.89% Q1 GDP Growth, Urges Stronger Capacity
CPPE praises Nigeria's 3.89% Q1 2026 GDP growth but warns reliance on commerce is unsustainable, calling for deeper industrialisation and value addition.
ECOWAS: Nigeria to Be 5th Richest Globally in 50 Years
ECOWAS forecasts Nigeria could become the world's fifth richest country within 50 years, driven by regional trade expansion and economic reforms.
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Kano Ranked Best State for Raising Family in Nigeria
SBM Intelligence ranks Kano as the best state to raise a family in Nigeria, surpassing Lagos and Abuja. Cross River comes last in the eight-state assessment.
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CBN Halts Rate Cuts Over Global Inflation Worries
The Central Bank of Nigeria has paused interest rate cuts due to global disinflation risks and economic uncertainties, signaling caution in monetary policy.
Nigeria's Economic Woes in Guardian Cartoon
A Guardian cartoon satirizes Nigeria's economic challenges, highlighting inflation, unemployment, and currency devaluation with sharp wit.
Nigeria's Economy Faces Credibility Crisis Over Data Manipulation
Nigeria's economic governance is threatened by the NBS failure to publish labor data and Budget Office non-disclosure of reports, undermining transparency and trust.
Naira Trades at New Rate as CBN Injects N9.71 Trillion
The naira appreciated 1.42% in April, closing at N1,361.51/$ as CBN injected N9.71 trillion via OMO bills to stabilize the currency and curb volatility.
Dangote Refinery Reverses Diesel Price to N1,700
Dangote Refinery has reversed its diesel price cut, raising the ex-depot cost from N1,600 to N1,700 per litre effective May 27, 2026, to protect coastal traders amid rising global crude oil prices.
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World Bank Cancels $718 Million Nigeria Power Loan
Nigeria and World Bank cancel $717.7 million power sector loan amid crisis. Experts blame poor policy coordination and implementation failures.
Cooking Gas Hits N2,000/kg, Strains Households
Cooking gas prices soar to N2,000 per kg in Nigeria, forcing families to ration usage and adjust meal plans amid rising costs.
Healthy diet cost doubles after fuel subsidy removal
The cost of a healthy diet in Nigeria has risen by 119% since fuel subsidy removal in 2023, now at N1,541 daily per adult, driven by animal source foods and inflation.
Nigeria's Economic Challenges and Path to Recovery
Nigeria faces economic hurdles including inflation and unemployment, but recovery is possible through policy reforms and diversification.
12 of World's 20 Fastest Growing Economies in Africa: AfDB
The African Development Bank says 12 of the 20 fastest-growing economies globally are in Africa, with GDP growth projected at 4.5% in 2026 despite global challenges.
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12 of World's Top 20 Fastest-Growing Economies in Africa
African Development Bank President Sidi Ould Tah announced that 12 of the world's 20 fastest-growing economies are in Africa, with GDP growth stabilizing at 4.3% in 2026.
Private Sector Credit Drops 15% on Political Risks
Private sector credit in Nigeria fell by 14.8% (N14 trillion) from February to April 2026, despite a surge in banking liquidity, raising concerns over investment and job creation.
Naira Strengthens in Official and Black Markets
Nigeria's naira gains across official and black markets as FX reserves hit $48.98 billion and GDP grows 3.89%. The naira traded at ₦1,374.92/$1 officially and ₦1,390/$1 on the black market.
FG, World Bank Cancel $717.7m Power Loan
Nigeria and the World Bank have agreed to cancel $717.7 million in undisbursed funds under the Power Sector Recovery Operation due to tariff shortfalls and delays.
Africa Aims to Make Intellectual Property an Economic Engine
Intellectual property experts from across Africa will meet in Nairobi to strategize on leveraging IP for trade, industrialization, and creative economy growth under the AfCFTA.
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Bank Subsidises Ram Sales for Eid, Residents Buy for N20,000
LOTUS Bank launches subsidised ram sales ahead of Eid-el-Kabir, with residents buying rams for N20,000 amid rising food inflation in Nigeria.
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