Despite the Central Bank of Nigeria’s (CBN) decision to keep its benchmark interest rate unchanged, economic experts warn that Nigeria may be staring at a prolonged period of high borrowing costs, as stubborn inflation, rising geopolitical tensions and shifting global capital flows continue to threaten growth and cloud the economic outlook. At the end of …
When the Central Bank of Nigeria's Monetary Policy Committee gathered in February 2026 for its 304th meeting, the mood was one of cautious optimism. Headline inflation had fallen for eleven consecutive months. Reserves had climbed to a 13-year high of $50.45 billion. The naira was holding. The committee voted, 10 to 1, to cut the …
The Federal Government’s May 2026 bond auction attracted total demand of ₦796.17 billion, with investors showing a stronger appetite for longer-term debt instruments, according to results released by the Debt Management Office (DMO). The auction, conducted on May 18, featured the re-opening of two existing Federal Government bonds with a combined offer size of ₦600 …
Former Anambra State governor and 2023 Labour Party presidential candidate Peter Obi has warned that President Bola Tinubu’s disclosure that Nigeria will spend about $11.6 billion on debt servicing should alarm anyone concerned about the country’s future. In a statement posted on his X handle on Monday, Obi said the size of the planned debt …
Muda Yusuf, a renowned economist, has warned that any rate hike could hurt economic growth, weaken businesses and do little to address Nigeria's inflation problem. His warning comes ahead of the Central Bank of Nigeria (CBN) 305th Monetary Policy Committee (MPC) meeting scheduled for May 19–20, 2026, in Abuja. In a statement issued on Sunday, …
International ratings agency S&P Global Ratings has upgraded Nigeria’s long-term credit rating to ‘B’ from ‘B-’, citing stronger foreign exchange reserves, reforms in the oil sector, and rising refining capacity. However, the agency warned that growing election-related spending and rising fuel prices could still weaken the country’s fragile economic gains. In its latest sovereign rating …
The Centre for the Promotion of Private Enterprise (CPPE) has warned against further monetary tightening by the Central Bank of Nigeria (CBN), saying Nigeria’s inflation challenge is being driven largely by structural and supply-side factors that higher interest rates alone cannot solve. The CPPE Chief Executive Officer, Dr Muda Yusuf, who is a renowned economist, …
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 …
