Economy exits contraction but households remain pessimistic — CBN
•As PMI rebounds to 50.1pts •Business confidence moderates to 7.2pts •Households shun houses, cars, investments •Food remains top spending priority By Babajide Komolafe Nigeria’s economy exited contraction in June as the Purchasing Managers’ Index, PMI, rebounded to 50.1 points from 49.6 points in May, driven by sustained expansion in the agriculture sector despite continued weakness […]
Nigerians spend $1.73bn on foreign education, health in 6mths
•Represents 19% increase; highest in 4yrs By Babajide Komolafe In spite of the high exchange rate and inflation-induced cost of living crisis across the country, Nigerians increased spending on foreign education and health services by 19 per cent to $1.73 billion in the first half of 2025, H1’25 representing the highest in four years, since 2022. Vanguard […]
EPILEPTIC POWER: Stranded generation capacity hits 2,275MW in 5 years
…As GenCos frown over 33.6% deficiency in evacuation By Mariam Eko Nigeria’s power supply crisis seems to be unabated as stranded electricity generation capacity rose by 1.19 per cent to 2,275 megawatts, MW, over a five-year period, highlighting persistent weaknesses in the country’s transmission infrastructure and worsening liquidity challenges across the power value chain. Operational data […]
Banks report higher loan default rates in Q4’25
By Babajide Komolafe Banks have recorded an increase in loan defaults by households and corporates in the fourth quarter of 2025, reflecting growing repayment pressures on consumers and businesses. “The Central Bank of Nigeria’s (CBN) disclosed this in its Credit Conditions Survey (CCS) Report for Q4 2025, which revealed that lenders experienced higher default rates on […]
Nigeria’s oil output drops 8.3% to 1.544m bpd
By Udeme Akpan, Energy Editor The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the oil and gas industry regulator, said Nigeria’s oil output, including condensate, dropped significantly by 8.3 percent year-on-year (YoY) to 1.544 million bpd in December 2025 from 1.684 million recorded in the corresponding period of 2024. The Commission did not provide reasons in its […]
IMF upgrades Nigeria’s 2026 growth outlook to 4.4%
•Urges FG to rebuild fiscal buffers By Babajide Komolafe, Economy Editor The International Monetary Fund (IMF) has upgraded its growth forecast for Nigeria to 4.4 per cent in 2026, citing improved macroeconomic conditions and reform momentum. The Fund disclosed this in its January 2026 World Economic Outlook (WEO) Update, titled, “Global Economy: Steady amid Divergent […]
