Nigeria’s headline inflation rose to 15.69 per cent in April, up from the 15.38 per cent recorded in March. This was confirmed in the April 2026 Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Friday. This marks the second consecutive monthly increase, reversing the extended disinflationary trend seen over …
Many Nigerians are again counting losses after another online investment platform identified as “XM Future Music Group” reportedly collapsed, leaving subscribers unable to access their funds amid rising concerns over fraudulent digital investment schemes operating across the country. The platform, popularly known as “XM,” allegedly promised investors returns of up to 100 per cent within …
Food prices in Nigeria could decline by the next harvest season if governments at all levels strengthen security and take deliberate steps to reduce production costs for farmers, the All Farmers Association of Nigeria (AFAN) has said. Speaking on Tuesday in Lagos, the Deputy Chairman of AFAN, Lagos State Chapter, Mr Shakin Agbayewa, explained that …
For decades, Nigeria’s economy has largely revolved around crude oil revenues, leaving the country vulnerable to global oil price shocks, foreign exchange volatility, and rising unemployment. Despite its vast arable land, large population, and abundant natural resources, experts say the nation has yet to fully harness the potential of agriculture and other non-oil sectors to …
The Nigeria Customs Service (NCS) says it is deepening its commitment to global best practices in revenue generation, trade facilitation, and border security through its ongoing Trade Modernisation Project (TMP), a major reform drive aimed at transforming how goods are processed across the country’s entry points. The Comptroller-General of Customs, Adewale Adeniyi, made this known …
The Centre for the Promotion of Private Enterprise (CPPE) has warned against any retaliatory action by the Nigerian government over recent xenophobic attacks in South Africa, saying such moves would damage the Nigerian economy and weaken investor confidence. In a statement issued on Wednesday, May 6, Chief Executive Officer of CPPE, Dr Muda Yusuf, described …
The exit of the United Arab Emirates (UAE) from the Organisation of Petroleum Exporting Countries (OPEC) has raised concerns about its impact on global energy markets, especially for oil-dependent economies like Nigeria. While the UAE’s move is largely informed by its shift toward expanding production capacity and diversifying its economy, analysts say the implications could …
Nigeria is losing as much as ₦7 trillion every year to insecurity, a burden that is weighing heavily on the economy, weakening growth, and pushing up prices, according to a recent publication by the Central Bank of Nigeria (CBN). The report, titled Bullion Vol. 50, No. 1 (January – March 2026), released recently by CBN, …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that increasing salaries alone will not improve the welfare of Nigerian workers, urging the government to focus on reducing the cost of living and fixing basic services. In a policy brief issued Thursday, CPPE Chief Executive Officer, Dr Muda Yusuf, said the current focus …
The Nigeria Labour Congress (NLC) has warned that even a monthly salary of ₦1 million would be meaningless without a stable naira and a stronger economy. NLC President, Joe Ajaero, said workers are more concerned about the purchasing power of their income than headline salary figures, noting that rising inflation continues to erode earnings. “Even …
