By Seun Ibiyemi The Federal Government has opened discussions with the World Bank for three new financing facilities totalling $1.5billion, even as Nigeria’s total public debt climbed to a record N166.79trillion at the end of June 2026. The proposed World Bank financing comprises three separate $500m facilities targeting climate resilience, social protection and early childhood…
By Seun Ibiyemi The Socio-Economic Rights and Accountability Project (SERAP) has given the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and the apex bank seven days to account for US$6.23 million and more than ₦1.63 trillion in public funds identified in the 2023 Annual Report of the Auditor-General of the Federation, or…
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has said the Central Bank of Nigeria’s 350-basis-point reduction in the Monetary Policy Rate (MPR) could ease the Federal Government’s domestic borrowing costs and create additional fiscal space for development spending. The CBN’s Monetary Policy Committee (MPC) reduced the MPR from 26.5 per…
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns over the growing participation of foreign nationals, particularly Chinese traders, in Nigeria’s retail and distributive trade sector. The organisation warned that the trend could intensify pressure on Nigerian-owned businesses and jobs if existing regulations governing foreign participation in the retail…
By Seun Ibiyemi President Bola Ahmed Tinubu has directed the Federal Government to develop a roadmap for the full launch of Nigeria’s Digital Free Zones initiative within 180 days, as part of efforts to attract global capital, create jobs and keep technology businesses and intellectual property within the country. Tinubu gave the directive to the…
Nigeria’s major investment challenge is not a shortage of capital but a lack of sufficient bankable and investable projects capable of attracting and absorbing available funds, experts at the 2026 Chief Executive Officer Forum of the UN Global Compact Network Nigeria have said. The experts spoke at the closed-door forum held in Lagos under the…
By Seun Ibiyemi Nigeria’s headline inflation rate eased marginally to 15.39 per cent in August 2026 from 15.43 per cent in July, as food price pressures moderated during the month. The National Bureau of Statistics (NBS) disclosed this in its Consumer Price Index (CPI) report for August 2026 released on Tuesday. The latest inflation rate…
By David Oluwatosin Nigeria’s merchandise trade surplus widened to ₦12.6 trillion in the second quarter of 2026, driven by a sharp increase in exports and slower growth in imports, according to data from the National Bureau of Statistics (NBS). The surplus rose 67 per cent quarter-on-quarter and 101 per cent year-on-year, extending Nigeria’s run of…
The net worth of Africa’s richest man, Aliko Dangote, has risen to $51 billion following the commencement of Dangote Refinery’s Initial Public Offering (IPO) on the Nigerian Exchange Limited (NGX). According to Forbes data released on Monday, the revaluation has moved the President of Dangote Group to the 36th position among the world’s richest people….
By Seun Ibiyemi Nigeria is seeking to rebuild its economic relationship with India and restore bilateral trade to its previous peak of nearly $15 billion, while pushing for greater Indian investment in sectors beyond crude oil. The development followed a bilateral meeting between Vice President Kashim Shettima and Indian Prime Minister Narendra Modi on the…
