Nigeria’s financial inclusion reaches 79% — EFInA
By Matthew Johnson The Enhancing Financial Inclusion and Advancement (EFInA) has released its ninth Access to Financial Services in Nigeria (A2F) Survey, showing that 79% of Nigerian adults use a financial product or service. Formal inclusion reached 73%, exceeding the 70% target under the National Financial Inclusion Strategy. EFInA’s Board Chair, Dr Agnes Olatokunbo Martins, […]
Oil price reverses gains, falls 0.8% despite escalating US-Iran hostilities
By Obas Esiedesa, Abuja Global oil prices eased by 0.82 per cent to $84.24 per barrel on Wednesday as investors took profits after the previous day’s sharp rally, although renewed military confrontation and escalating rhetoric between the United States and Iran continued to underpin fears of disruptions to global crude supplies. Brent crude, the international benchmark, […]
Food inflation still rising despite drop in headline rate
By Elizabeth Adegbesan The National Bureau of Statistics, NBS, yesterday said headline inflation rate slowed Month-on-Month (MoM) by 0.02 percentage point to 15.91 percent in June 2026 from 15.93 percent in May. The decline is coming after a three consecutive months rise in headline inflation rate since March 2026. However, despite the moderation in inflation rate, […]
NIP 2025: FG positions small businesses as engine of industrialisation
By Yinka Kolawole The Federal Government has positioned Micro, Small and Medium Enterprises (MSMEs) as the biggest beneficiaries of the Nigeria Industrial Policy (NIP) 2025, with a package of low-cost financing, preferential government procurement, industrial clusters and digital transformation initiatives aimed at accelerating industrial growth and reducing the country’s dependence on imports. The policy, unveiled […]
Manufacturers sell below production cost to offload N2trn unsold inventory
By Yinka Kolawole Manufacturers in Nigeria are increasingly selling products below production cost in a desperate bid to clear nearly N2 trillion worth of unsold inventory, underscoring the severe cost pressures and weak consumer demand confronting the country’s industrial sector. Findings by the Manufacturers Association of Nigeria (MAN) show that while manufacturers have recorded modest improvements […]
Outgoing CIIN President attributes successful tenure to flagship initiative
By Rosemary Iwunze The outgoing President of the Chartered Insurance Institute of Nigeria, CIIN, Mrs. Yetunde Ilori, has said that her flagship initiative, tagged ‘EPIC’, succeeded in bridging the critical knowledge gap between insurance practitioners and consumers. Ilori stated that EPIC, which stands for Education, Professionalism, Institutional Recognition and Capacity Building, contributed in driving financial […]
