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 […]
Chinese tech giant Alibaba posts profit drop amid AI drive
Chinese tech giant Alibaba said Wednesday that net profit dropped by nearly a fifth during its most recent fiscal year, weighed by challenges in the domestic economy and an expensive push into artificial intelligence.
New Tax Acts about building trust, not just raising revenue — Oyedele
By Emma Ujah, Abuja Bureau Chief The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has said that the new Tax Acts were not just about raising revenue but building trust among members of the Nigerian public. He spoke virtually yesterday at the opening of the 2026 Annual Conference of the […]
FCCPC pushes nationwide adoption as Lagos moves to end estimated billing
By Progress Godfrey The Federal Competition and Consumer Protection Commission (FCCPC) has backed Lagos State’s move to eliminate estimated billing, urging other states to adopt similar reforms across Nigeria’s electricity market. The Commission, in a statement on Tuesday, said the initiative signals a shift towards transparency, improved service delivery and stronger consumer protection, with smart […]
LPG price to hit N1,500/kg as depot stocks dry up
•Only Dangote Refinery, Ardova, Navgas have supplies By Udeme Akpan, Energy Editor There are indications that the price of Liquefied Petroleum Gas, LPG, also known as cooking gas, may rise sharply across country as depot stocks dry up amid increasing domestic demand. Checks by Vanguard yesterday showed that only the Dangote Petroleum Refinery, Ardova Plc and […]
Petrol consumption jumps 10.8% to 52.4m, defies higher pump prices
•Nigeria’s oil output rises to 1.663m By Udeme Akpan, Energy Editor & Obas Esiedesa Despite the increase in pump prices of Premium Motor Spirit, PMS, also known as petrol, Nigeria’s daily consumption increased by 10.78 per cent in April 2026 to 52.4 million litres, from 47.3 million litres recorded in March, according to data released by […]
Food crisis driven by insecurity, weak policy implementation — Stakeholders
By Cynthia Alo Stakeholders in the agriculture sector have blamed Nigeria’s worsening food crisis on insecurity, poor implementation of government policies and inadequate infrastructure. Speaking at the 2026 Nigerian-British Chamber of Commerce Agriculture and Agro-Allied Summit in Lagos, the stakeholders said persistent attacks on farmers, weak monitoring of intervention funds and poor policy execution are undermining […]
FX Infractions: EFCC clears over 1,000 bank accounts, prunes investigations to 16
By Peter Egwuatu The Economic and Financial Crimes Commission (EFCC) has concluded an investigation into an initial list of 1,146 bank accounts belonging to individuals and companies operating in Nigeria that were flagged for alleged foreign exchange (FX) infractions. According to a statement from the Federal High Court Abuja, made available to Vanguard, in a judgment […]
Nigeria’s net forex inflow rises 11% to $66.23bn
•Net inflow through CBN falls 18% By Elizabeth Adegbesan Nigeria recorded a 11.4 percent year-on-year (YoY) increase in net foreign exchange inflow in 2025 to $66.23 billion from $59.44 billion in 2024. Analysis of data from the Monthly Economic Bulletin with Statistical Data of the Central Bank of Nigeria (CBN) showed that the increase in net […]
Naira rises to N1,393/$ in parallel market
The Naira yesterday appreciated to N1,393 per dollar in the parallel market from N1,405 per dollar on Monday.
NESG raises fresh concern over Nigeria’s debt burden
By Babajide Komolafe Fresh concerns have emerged over Nigeria’s debt burden with the outlook for 2026 indicating new borrowings at about N29 trillion. Giving its verdict on the debt situation, the Nigerian Economic Summit Group (NESG), Nigeria’s foremost economic think-tank, in the May 2026 edition of its Debt Burden Monitor released yesterday, said that debt pressure […]
