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Nigeria’s headline inflation hits 15.93% in May, as CPI rises by 140.7% in one month
National Bureau of Statistics (NBS) has disclosed that Nigeria’s headline inflation rate increased to 15.93 per cent year-on-year in May 2026, up from 15.69 per cent the previous month. The NBS Consumer Price Index (CPI) also rose from 138.3 per cent…
CBN orders banks to freeze assets of six persons, four BDCs over terrorism financing
Sequel to the action taken by the United States government in exposing three persons, including a Nigerian foreign exchange dealer linked to a terrorism group, the Central Bank of Nigeria (CBN) has followed with a directive to commercial banks to freeze…
Only 20% of POS operators registered, as EFCC, CAC move to review MoU on tackling financial crimes
Economic and Financial Crimes Commission (EFCC) and the Corporate Affairs Commission (CAC) have pledged to collaborate in a bid to safeguard Nigeria’s financial system. This is also at it emerged that only 20 per cent of the country’s Point of Sale…
Nigeria’s crude oil import rises by 308.9% to hit $1.39bn in Q1 2026, as petrol, gas importation drop to 87.5%
Data obtained from the Balance of Payments Highlights of the Central Bank of Nigeria (CBN) has indicated a rise in Nigeria’s crude oil imports from the $340 million recorded in the fourth quarter (Q4) of 2025 to $1.39 billion in…
Enugu airport concession deal complete, as firm takes over management
Federal Government has formally transferred operation and management of the Akanu Ibiam International Airport, Enugu, to Aero Alliance Limited. The development marks the conclusion of a concession process which commenced nearly two decades ago but stalled by trade unions’ disapproval,…
5 ECOWAS nations launch management authority for proposed $16bn Abidjan — Lagos highway project
Five member-states of the Economic Community of West African States (ECOWAS), including Nigeria, Côte d’Ivoire, Ghana, Togo, and Benin Republic, have formally launched the Abidjan–Lagos Corridor Management Authority, a regional body established to oversee the development and operation of the proposed…
Nigeria discovers 3 mineral deposits in Kaduna
Federal Government has announced the discovery of a major polymetallic mineral province in Kaduna State containing valuable resources including platinum group metals, gold, nickel, copper, lithium and rare earth elements. Minister of Solid Minerals Development, Dele Alake, disclosed the development, Wednesday,…
NMDPRA grants Q3 2026 import licenses to bridge supply gaps
Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has approved another round of import permits for petrol and diesel ahead of the third quarter of 2026 (July – September) as authorities move to bridge potential supply gaps in the domestic market….
World Bank says Nigeria, others accountable for 83% of global gas flaring, as NMDPRA decries energy under-utilisation
World Bank has listed Nigeria, alongside United States, Russia and six other countries as accountable for over 83 per cent global gas flaring in 2025. Nigeria remained one of the world’s largest gas-flaring countries in 2025. This is just as recent…
Petrol pump prices jump by over 55% in May, hit N1, 596/ltr
Latest data released by the National Bureau of Statistics (NBS), Wednesday, has shown that the average retail pump price of Premium Motor Spirit (PMS) or petrol jumped by 55.31 per cent year-on-year to N1,596.25 per litre in May 2026, from…
