Food Crisis: Cost of healthy diet rises further — NBS Report
By Elizabeth Adegbesan Despite the moderation in inflation rate reported by the National Bureau of Statistics, NBS, the financial burden of feeding on Nigerian households may have intensified as the national average Cost of a Healthy Diet (CoHD) climbed to N1,541 per adult per in March 2026, about 4.4 per cent up from N1,477 in March […]
Importers pay N100,000 daily demurrage over NSW delays — Customs agents
…We didn’t promise one-day approval — NSW By Efe Onodjae Importers and clearing agents have raised concerns over mounting demurrage costs at Nigerian seaports, blaming delays linked to the National Single Window (NSW) platform for prolonged cargo clearance processes. The National President of the National Council of Managing Directors of Licensed Customs Agents, NCMDLCA, Lucky Amiwero, […]
No insurance cover for airports, exposes FG to losses, compensation claims
•Provision for insurance removed in new NCAA regulation — Experts By Rosemary Iwunze Indications have emerged that the Federal Government may shoulder the full financial burden arising from the recent fire incident at the international terminal of the Murtala Muhammed International Airport, following the apparent absence of insurance cover for Nigerian airports. The airport is managed by […]
Stock market slides as profit-taking hits blue chip companies
By Peter Egwuatu After the sustained rally recorded in the previous weeks of May 2026, profit-taking by investors last week have taken toll on the Nigerian stock market. Analysts noted that the profit-taking was mostly in major blue chip and mid-cap companies that had paid dividends to their shareholders. A review of activity on the Nigeria […]
Court grants CBN sole ownership of eNaira platform
The Federal High Court sitting in Abuja, on Friday, granted the Central Bank of Nigeria (CBN) sole ownership rights to the eNaira digital currency platform.
Nigeria’s trade surplus rises 220% to $480m
By Elizabeth Adegbesan Nigeria recorded a $480 million trade surplus in January 2026, driven by a 4.46 percent increase in export receipts to a record $4.68 billion, largely fueled by petroleum products. This represents a 220 percent month-on-month (MoM) increase in trade surplus when compared to$150 million recorded in December 2025. The Central Bank of Nigeria, […]
Over 41% of electricity consumers still without meters –NERC
By Obas Esiedesa About 5.1 million consumers, representing about 41 per cent of Nigeria’s 12.31 million active electricity customers were without prepaid meters as of February 2026, according to data released by the Nigerian Electricity Regulatory Commission (NERC). The Commission, in its January and February 2026 metering factsheet, disclosed that only 7.21 million customers had been metered […]
Pension scheme plagued by gender disparity
THE Nigerian labour force under the Contributory Pension Scheme (CPS), remained heavily dominated by male workers in 2025, as the number of registered male contributors rose to 8.75 million against 3.47 million female subscribers
SIFAX Chairman urges African firms to build global-scale corporations
By Babajide Komolafe Chairman, SIFAX Group, Dr. Taiwo Afolabi, has called on African entrepreneurs, investors, and business leaders to prioritise the growth of large, sustainable corporations capable of competing globally, rather than operating fragmented and small-scale enterprises that limit the continent’s economic potential. Speaking at the sidelines of the Africa CEO Forum held in Kigali, Rwanda, […]
Inter-agency collaboration imperative for sustained maritime security — NIMASA boss
The Nigeria Maritime Admisnistration and Safety Agency, NIMASA, has expressed the imperative of a sustained partnership across the Nigeria’s security agencies together with the NIMASA in providing adequate security for the country’s maritime ecosystem. Speaking at the C4i capability demonstration and graduation ceremony of the security personnel in Lagos, NIMASA’s Director General, Dr. Dayo Mobereola, […]
CBN retains rate at 26.5 %, says no FX market intervention
…as Reserves hit $50b By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 percent, along with other monetary rate parameters. Briefing the media on the outcome of the 305th Monetary Policy Committee (MPC) committee, in Abuja, yesterday, the Governor of the CBN, Mr. Olayemi […]
Dangote activates Olokola seaport plan in Ogun
The Olokola seaport project has already received backing from host communities, whose leaders expressed optimism over its economic potential
Capital market: T+1 settlement cycle takes off June 1 — SEC
By Peter Egwuatu The Securities and Exchange Commission, SEC has announced the transition to a T+1 settlement cycle for equities and commodities transactions with effect from Monday June 1, 2926. The Commission in a notice, outlined a comprehensive framework that all capital market operators and relevant stakeholders are encouraged to adopt in preparation for this significant […]
Nigeria’s oil exploration declines 41.7% as rig count falls — OPEC
By Udeme Akpan Nigeria’s oil exploration and drilling activities declined by 41.7 per cent in April 2026, following reduced upstream operations and investment activities. According to the May 2026 Monthly Oil Market Report, MOMR, of the Organization of the Petroleum Exporting Countries, Nigeria’s rig count – a major indicator of upstream oil and gas activities – […]
FGN bonds record 32% oversubscription in May auction
Strong investors demand for the Federal Government of Nigeria (FGN) debt instrument continues in May as the government’s bond auction in May 2026 recorded a 32.8% oversubscription.
FG unveils plans to revive textile sector, targets 1.5m jobs
…As Nigeria’s cotton output crashes by 95% By Yinka Kolawole The Federal Government has intensified efforts to revive Nigeria’s Cotton, Textile and Garment, CTG, industry, following a 95 percent decline in the country’s cotton production from about 200,000 metric tonnes in 2001 to roughly 10,000 metric tonnes in 2025. Minister of State for Industry, Senator […]
