Middle East Tensions Fuel Inflation Fears in Nigeria
Geopolitical tensions in the Middle East are driving oil price volatility, reigniting inflation concerns, and potentially reshaping monetary policy in Nigeria, analysts warn.
Category : Economy
Experts Urge Collaboration to Boost Intra-African Trade
Financial leaders and government ministers at the Access Bank Africa Trade Conference called for urgent collaboration to overcome structural barriers hindering commerce across the continent.
South-East Youths Urge Tinubu to Tackle Rising Cost of Living
Youth leaders in Nigeria's South-East region have called on President Bola Tinubu to address the escalating cost of living, citing severe hardships from fuel and food price hikes.
CBN: Nigerian Businesses Optimistic Despite Rising Costs
A Central Bank of Nigeria survey reveals businesses remain optimistic about the economy, with a Confidence Index of 39.4 points in February 2026, despite facing major hurdles like insecurity, high taxes, and poor power supply.
FAAC Silent on January Allocation as Revenue Falls for 5th Month
The Federation Accounts Allocation Committee has not disclosed January 2026 revenue figures, marking a fifth consecutive month of declining federal income, raising constitutional concerns.
Middle East War Disrupts Oil, Strains Nigeria's Economy
The escalating US-Iran conflict has shut down the Strait of Hormuz, spiking global oil prices. Nigeria faces fuel shortages and inflation, highlighting economic vulnerabilities in an interconnected world.
Govt Lapses Stall Nigeria's Global Competitiveness
Dele Oye highlights how government failures in diplomacy, trade, and policy are hindering Nigeria's global market competitiveness and denying businesses access to international opportunities.
IMF Flags Risks in Africa's Domestic Borrowing
The IMF reports that sub-Saharan African governments are increasingly relying on domestic borrowing, reducing foreign exchange risks but introducing new financial vulnerabilities.
Middle East War Deepens Nigeria's Economic Hardship
The escalating Middle East conflict involving the US, Israel, and Iran is driving up global oil prices, exacerbating Nigeria's inflation, transport, and food costs, and testing the resilience of SMEs and households.
Higher FAAC Earnings Give Nigeria Leverage to Rebuild Fiscal Buffers
Increased FAAC earnings from oil and subsidy removal provide Nigeria a rare opportunity to replenish depleted fiscal buffers like the Excess Crude Account, amid risks from political spending and debt pressures.
NLC, CPPE Rally FG on Refineries and Energy Crisis
The Nigeria Labour Congress demands refinery operations and wage relief, while the Centre for the Promotion of Private Enterprise calls for strategies to support businesses amid rising energy costs.
Energy Cost Surge Puts Nigerian Businesses at Risk, CPPE Alerts
The Centre for the Promotion of Private Enterprise warns that rising global energy prices, driven by Middle East tensions, severely threaten Nigerian businesses. It urges efficiency improvements and government reforms to mitigate impacts.
Energy Price Surge Threatens Nigerian Businesses - CPPE
The Centre for the Promotion of Private Enterprise warns that rising global energy costs, driven by Middle East tensions, severely threaten Nigerian businesses. It urges energy efficiency, diversification, and government reforms to mitigate the crisis.
Inflation Eases to 15.06% Despite Food Price Surge
Nigeria's headline inflation rate fell to 15.06% in February 2026, down from 15.1% in January, as per NBS data. However, food inflation surged month-on-month, with states like Kogi and Bayelsa seeing the highest increases, driven by insecurity and transpo
Oyedele Sworn In as Finance Minister, Vows Reforms
Taiwo Oyedele has been sworn in as Minister of State for Finance, committing to revenue mobilisation and fiscal sustainability. Meanwhile, Abubakar Bagudu reaffirms Nigeria's $1 trillion economy goal.
Uzoka-Anite Calls for Private Sector-Led Economy
Minister Doris Uzoka-Anite emphasizes that 95% of Nigeria's economic growth must be driven by the private sector, with the government contributing 5%, to achieve a $1 trillion economy by 2030.
Nigerian, UK Firms Scale Up Investments Amid Tinubu's UK Trip
Nigerian banks, fintech firms, and creative businesses are expanding operations in the UK, creating hundreds of jobs and investing millions. This surge coincides with President Tinubu's state visit, highlighting strengthened economic ties under the UK-Nig
Nigeria's Market Re-rating Noted by NGX CEO Amid Global Interest
Temi Popoola, CEO of NGX Group, states Nigeria's capital market is undergoing a re-rating as global investors reassess its economic trajectory, driven by strong returns and policy clarity.
Nigerian Firms in UK to Generate Hundreds of New Jobs
Nigerian businesses expanding into the UK are set to create hundreds of jobs and invest millions in financial services, fintech, and creative industries, boosting bilateral ties during President Tinubu's state visit.
Dangote's $4.2B Gas Deal For Ethiopia Fertiliser Project
Dangote Industries has signed a landmark $4.2 billion natural gas supply agreement with China's GCL Group to power Ethiopia's largest fertiliser production facility, marking a major industrial partnership between Africa and China.
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Sri Lanka's Wednesday Holiday to Cut Fuel Use Amid Crisis
Sri Lanka introduces a weekly Wednesday public holiday to reduce fuel consumption and manage economic challenges, with essential services continuing to operate normally.
8 Countries Paying New Residents to Move In: Europe's 2026 Strategy
Discover how European nations like Italy, Switzerland, and Greece are offering cash grants, housing subsidies, and startup funding to attract remote workers and reverse population decline in rural areas.
Top 10 States with Highest Food Inflation in February 2026
The NBS reports Nigeria's food inflation eased to 12.12% year-on-year in February 2026, but Kogi, Adamawa, and Benue recorded the highest increases. Discover the full list of states with rising food costs.
Naira Climbs in Official and Parallel Markets After CBN Intervention
Nigeria's currency appreciated significantly in both official and parallel foreign exchange markets, driven by Central Bank interventions and improved dollar liquidity. The naira closed at ₦1,357.77 per dollar officially while parallel market rates improv
CPPE: Steps to Tackle Rising Energy Costs for Nigerian Businesses
The Centre for the Promotion of Private Enterprise warns that high global energy prices, driven by Middle East tensions, are crippling Nigerian SMEs. CPPE outlines urgent measures for businesses and government to enhance efficiency and adopt renewables.
Food Inflation Hits 12.12% as Dealers Quote New Prices for Staples
Nigeria's food inflation increased to 12.12% in February 2026, reversing January's relief. Dealers are adjusting prices for rice, beans, garri, and other staples amid regional disparities, with Kogi recording the highest rate at 26.91%.
Nigeria's Inflation Dips to 15.06% in February 2026
Nigeria's headline inflation rate eased marginally to 15.06 percent in February 2026, showing a slight decline from January's 15.10 percent. The National Bureau of Statistics reported significant yearly drops but noted monthly price increases, with food c
Nigeria's Inflation Drops to 15.06%, Three States Have Lowest Rates
Nigeria's inflation rate decreased to 15.06% in February 2026, with Katsina, Imo, and Ebonyi recording the lowest rates while Kogi had the highest, according to the National Bureau of Statistics.
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5 African Countries With Stronger Currencies Than Naira
Discover five African countries whose currencies outperform Nigeria's Naira, including Tunisia, Libya, Botswana, Morocco, and Seychelles, and learn the economic factors behind their strength.
Tinubu Orders Rice Distribution for Ramadan, Lent Across Nigeria
President Bola Tinubu has directed the Renewed Hope Ambassadors to distribute rice nationwide to support citizens observing Ramadan and Lent, promoting unity during fasting seasons.
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