The Centre for the Promotion of Private Enterprise (CPPE) has said the Central Bank of Nigeria’s decision to cut its benchmark interest rate to 23 per cent could ease borrowing costs for businesses and reduce the Federal Government’s domestic debt-service burden. The CPPE, in a policy brief issued on Tuesday by its Chief Executive Officer, …
The Central Bank of Nigeria (CBN) has reset its benchmark interest rate to 23 per cent as part of an operational overhaul aimed at strengthening the transmission of monetary policy to the economy. CBN Governor Olayemi Cardoso announced the decision on Tuesday after the two-day Monetary Policy Committee (MPC) meeting. He said the reset was …
The Centre for the Promotion of Private Enterprise (CPPE) has called for a review of foreign participation in Nigeria’s retail and distributive trade sector, citing concerns over competition, employment and the enforcement of business and immigration regulations. The CPPE raised the concerns in a statement issued on Sunday, September 20, by its Chief Executive Officer, …
The Federal Government and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) to strengthen coordination between fiscal and monetary policies and improve economic stability. The statement, issued on Saturday by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the agreement would align key economic assumptions …
President Bola Ahmed Tinubu says Nigeria’s Digital Free Zones initiative will provide opportunities for Nigerians, particularly young people, to work for global companies from within the country while strengthening the domestic ecosystem supporting digital businesses. The President said the initiative would also make it easier for Nigerian technology and service companies to attract global capital, …
Governments should avoid relying on broad food price subsidies during periods of rising food prices because they can consume scarce public resources while disproportionately benefiting wealthier households, the International Monetary Fund (IMF) has warned. In a report shared on Thursday, September 2026, the IMF said governments should instead diagnose the cause of a food-price shock …
The Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise on Monday, September 14, opened its initial public offering (IPO) to prospective investors. The IPO is expected to be one of the biggest public offers on the Nigerian Exchange Limited (NGX). It is offering 4.1 billion new ordinary shares at ₦525 each, and could raise about …
Nigeria’s inflation rate may be slowing, but the latest figures show that households and businesses in the country’s major commercial centres are facing very different levels of price pressure. While Lagos records the highest yearly inflation, Rivers posts the fastest monthly price increase, and Kano shows the lowest yearly rate among the three despite a …
Nigeria’s headline inflation rate fell marginally to 15.39 per cent in August 2026 from 15.43 per cent in July, as slower increases in food and other consumer prices continued to ease pressure on households. The latest National Bureau of Statistics (NBS) released on Tuesday shows that the rate also dropped sharply from 23.14 per cent …
Nigeria's formal admission as an Association Country with the International Energy Agency (IEA) is a significant milestone, marking a pivotal shift in the country's position within global energy markets. Vice President Kashim Shettima highlighted this during the recent signing of an agreement between Nigeria and the IEA for a Joint Work Programme to strengthen strategic …
