Recapitalisation: Labour Ministry charges banks to protect workers
By Victor Ahiuma-Young & Omotola Aremo The Federal Ministry of Labour and Employment has cautioned banks and insurance companies against allowing workers to bear the brunt of the ongoing recapitalisation and restructuring in the financial sector. The Ministry made the call during the 2026 World Day for Decent Work celebration organised by the Association of […]
Capital importation rises 102% to $16.4bn in 5mths
By Babajide Komolafe Capital importation into the country rose by 101.8 per cent, year-on-year, YoY to $16.41 billion in the five months to May 2026 from $8.13 billion in the same period of 2025. Vanguard analysis of the monthly economic reports of the Central Bank of Nigeria, CBN, from January to May 2026, showed that […]
Manufacturers deepen local raw materials sourcing, up 11% in 3yrs
By Yinka Kolawole Nigeria’s manufacturing sector recorded a steady increase in the use of locally sourced raw materials between 2021 and 2024, with the share rising from 51.5 per cent in 2021 to 57.1 per cent in 2024, as foreign exchange pressures, naira depreciation and rising import costs pushed manufacturers towards domestic alternatives. Data from […]
Electricity subsidy falls 35% to N679bn in H1’26
By Yinka Kolawole The Federal Government’s electricity subsidy bill fell 35.27 percent to N679.58 billion in the first half of 2026 from N1.05 trillion recorded in the corresponding period of 2025, as lower electricity off-take by distribution companies helped reduce the cost of keeping tariffs below cost-reflective levels. The Nigerian Electricity Regulatory Commission (NERC) stated […]
Housing crisis: Workers resort to their pension savings for home ownership
•Number of withdrawers rises 284% to 28,437 •Amount withdrawn rises 228% to N92.7bn •Experts make case for Nigerians not on CPS •Despite increase in NHF pool, workers still unable to get loans – Ajaero By Rosemary Iwunze Amid the worsening cost of housing and declining purchasing power, more workers under the Contributory Pension Scheme, CPS, […]
Economic recovery accelerates as Sept PMI rises to 53 points
By Elizabeth Adegbesan The momentum of Nigeria’s economic recovery picked up significantly at the end of the third quarter, fueled by a sharp rebound in industrial activity and sustained resilience across key economic pillars. The Central Bank of Nigeria’s (CBN) Purchasing Managers Index (PMI) report, released during the weekend, showed that the composite PMI rose […]
