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, […]
PenCom recoveries from defaulting employers rise 180%, hit N4.04bn
By Victor Ahiuma-Young & Rosemary Iwunze The National Pension Commission, PenCom, has recorded a major breakthrough in pension compliance, recovering N4.04 billion from defaulting employers between January and November 2025—a 180 per cent increase over the N1.44 billion recovered in the whole of 2024. Director General of PenCom, Ms Omolola Oloworaran, who disclosed this yesterday in […]
Nigeria’s trade with ECOWAS countries rises 43% to N6.9trn
By Elizabeth Adegbesan Nigeria’s trade with other countries in the Economic Community of West African States, ECOWAS, by 43 percent, rose year-on-year (YoY) to N6.9 trillion in the first nine months of the year (9m’25) from N4.82 trillion in the corresponding period of 2024. Analysis of data in the Foreign Trade in Goods Statistics Report recently released […]
132 firms access N574.8bn local content funding — NCDMB
By Obas Esiedesa, Abuja The Nigerian Content Development and Monitoring Board (NCDMB) yesterday disclosed that 132 Nigerian companies have accessed N574.8 billion, comprising N51.785 billion and $359.653 million, from intervention funds established to boost indigenous participation in the oil and gas industry. The funds include the $350 million Nigerian Content Intervention Fund and NEXIM supported $50 […]
FG indebtedness to GENCOs to hit N6.4trn by 2025
By Ediri Ejoh There are indications that the Federal Government indebtedness to the power sector would hit N6.4 trillion by the end of 2025 from the current N6 trillion earlier reported in October, indicating an increase of 6.25 per cent. This came as investigation revealed that the debts which included legacy debt was incurred between 2015 […]
UBA partners CIG Motors, Lagride, launches $100m vehicle financing scheme
By Babajide Komolafe United Bank for Africa (UBA) Plc, has announced a $100 million financing partnership scheme with CIG Motors, Lagride and Lagos State Government, aimed at redefining urban mobility and promoting financial inclusion in Nigeria. By the partnership, tagged “Drive to Own”, UBA will be the key financier, offering loan subscriptions that will allow […]
