Nigerian govt to borrow N2tn monthly to fund wasteful spending- Expert
A financial analyst, Kalu Aja, alleged that the Nigerian government intends to borrow N2 trillion…
Nigerian govt to borrow N2tn monthly to fund wasteful spending- Expert
A financial analyst, Kalu Aja, alleged that the Nigerian government intends to borrow N2 trillion monthly to finance what he described as a “wasteful” 2026 budget. He disclosed this in a statement on X on Wednesday, noting that the N58.47 trillion 2026 budget is currently before the Nigerian Senate. According to Aja, the budget focuses…
Experts Cast Doubt on Accuracy of Nigeria’s Inflation Data
Nigeria’s reported inflation rate is facing increased scrutiny, with economists raising concerns that official figures may not accurately reflect the true financial strain experienced by everyday citizens. The National Bureau of Statistics (NBS) reported a rise in Nigeria’s Consumer Price Index (CPI) and inflation to 15.15% in December 2025, a jump from 14.45% the previous…
Experts Cast Doubt on Accuracy of Nigeria’s Inflation Data
Nigeria’s reported inflation rate is facing increased scrutiny, with economists raising concerns that official figures may not accurately reflect the true financial strain experienced by everyday citizens. The National Bureau of Statistics (NBS) reported a rise in Nigeria’s Consumer Price Index (CPI) and inflation to 15.15% in December 2025, a jump from 14.45% the previous…
Nigeria Poised for Sugar Self-Reliance, Says NSDC Head, Bakrin
Kamar Bakrin, the Executive Secretary of the National Sugar Development Council (NSDC), has declared that Nigeria is firmly on track to achieve independence in its domestic sugar production. In a recent interview with DAILY POST, Bakrin highlighted the overwhelmingly positive response from stakeholders to the newly introduced Sugarcane Outgrower Development Programme (SODP). He emphasized that…
Nigeria’s Inflation Climbs to 15% After Eight-Month Slide
Nigeria’s long run of easing inflation has finally hit a wall. After eight straight months of decline, the inflation curve ticked upward in December. The headline figure now sits at 15.15 percent, according to the latest data from the National Bureau of Statistics. For many households, this rise feels familiar. Markets remain expensive. Transport costs…
FG Weighs Interest Rate Reduction as Inflation Shows Signs of Slowing – Finance Minister
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has signaled Nigerian Government Weighs Interest Rate Reduction as Inflation Shows Signs of Slowing – Finance Minister** potential shift in the government’s approach to monetary policy. He suggested that a decrease in interest rates could be on the table if the trend of…
Banks to Implement ₦50 Stamp Duty on Transfers Exceeding ₦10,000 Starting January 1
Starting January 1, 2026, Nigerian banking institutions will begin collecting a ₦50 stamp duty on electronic transfers amounting to ₦10,000 or more. This action is in accordance with the recently enacted Tax Act’s provisions. Several commercial banks have already notified their clientele about this upcoming change, ensuring awareness prior to its enactment. This levy, previously…
CPPE projects 4.5% GDP growth rate for Nigeria in 2026
The Centre for the Promotion of Private Enterprise has projected between 4.0 and 4.5 percent Gross Domestic Product growth rate for the Nigerian economy in 2026. The CPPE chief executive officer, Dr. Muda Yusuf, disclosed this on Sunday in an economic review of 2025 and outlook for 2026. The Centre predicted a cautious optimism for…
Otedola sells shares in Geregu Power for N1trn
Billionaire businessman, Femi Otedola, has sold his majority stake in Geregu Power Plc for N1.088 trillion in a deal financed by a consortium of banks led by Zenith Bank Plc. The Nigerian Exchange, NGX, made this announcement on Monday. Otedola’s Amperion Power Distribution Company Ltd reportedly held nearly 80 percent of the power generating company….
Dangote Refinery Reaffirms Petrol Price at N699, Encourages Marketer Partnerships
In a recent announcement, Dangote Refinery has confirmed that its ex-depot petrol price remains steady at N699 per litre. The refinery communicated this update via its X account on Thursday, emphasizing the immediate availability of petrol for collection by petroleum marketers. This announcement follows a period where retail petrol prices in Abuja have seen a…
