adminIMF: Rising cost of essentials to push more Nigerians into poverty
The International Monetary Fund, IMF, has warned that rising prices of essential goods will deepen poverty and food insecurity in Nigeria despite improved macroeconomic stability, even as it maintained…
FG says IMF’s off-budget spending claim inaccurate
The federal government says the International Monetary Fund’s (IMF) claim that Nigeria omitted some public spending from recent budgets is inaccurate and misleading the public regarding the government’s financial…
World Bank approves $1.25bn financing to support reforms, expand energy access in Nigeria
The World Bank has approved a $1.25 billion development policy financing (DPF) operation for Nigeria to support reforms aimed at accelerating investment, creating jobs and sustaining economic growth. The…
World Bank rewards states with $27m for reforms
Five states will receive a combined $15 million in performance-based incentives under the World Bank-supported HOPE Governance Programme after emerging as the best-performing states in the implementation of key…
Petrol Price Rises By 55% To N1,596/Ltr In May — NBS
The average retail price of Premium Motor Spirit, commonly known as petrol, rose by 55.31% year-on-year to N1,596.25 per litre in May 2026, from N1,027.76 recorded in May 2025.…
Nigeria’s inflation rose to 15.93% in May – NBS
Nigeria’s inflation rate rose to 15.93 per cent in May 2026. This marked the third consecutive monthly increase in the annual inflation rate as food prices continued to pressure…
CBN bans linked financial entities from extending loans to each other
The Central Bank of Nigeria, CBN, has banned closely linked financial entities from extending loans or guaranteeing the obligations of one another without the bank’s prior approval. The apex…
IMF official warns Nigeria against $5bn borrowing plan with UAE bank
The International Monetary Fund (IMF) has cautioned Nigeria over its plan to borrow up to $5 billion through a derivatives agreement with First Abu Dhabi Bank of the United…
Cost of healthy diet per day hit N1,513 in February – NBS
The National Average Cost of a Healthy Diet (CoHD) per adult a day stood at N1,513 as at February, the National Bureau of Statistics (NBS) has said. The NBS…
CBN Holds Monetary Policy Rate Steady At 26.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has voted to retain the Monetary Policy Rate (MPR) at 26.5% following its 305th meeting, which recorded the…
Inflation rises to 15.69% in April
Nigeria’s headline inflation rate rose to 15.69 per cent in April 2026, up from 15.38 per cent recorded in March, reflecting a 0.31 percentage point increase, according to the…
Nigeria Misses OPEC Production Quota Again
Nigeria has again failed to meet its 1.5 million bpd crude oil production quota approved by the Organization of the Petroleum Exporting Countries (OPEC). In its National Liquid Hydrocarbon…
Consumers Pay More As Prices Of Eggs, Beans, Local Rice, Others Rise In March
Consumers paid more for food items in March 2026, as prices of eggs, beans, local rice, garri, and others rose, according to a report by the National Bureau of…
Nigeria’s debt to World Bank surged by $2.08bn in 2025 – Report
Nigeria’s debt to the World Bank rose by $2.08bn in one year to $19.89bn as of December 31, 2025, according to an analysis of external debt stock data released…
Senate Approves Tinubu’s $516m Loan Request
The Senate has approved a $516 million syndicated loan request by President Bola Tinubu to fund the construction of Section 1, Phases 1A and 1B of the Sokoto–Badagry…
