Oil prices fell sharply on Monday as a pause in US-Iran hostilities eased fears of further disruption to energy supplies through the Gulf. Brent crude dropped 6% to about $86 a barrel, while US West Texas Intermediate fell nearly 7%. The calmer geopolitical climate also lifted several global stock markets, […]
Nigeria’s food inflation showed a mild slowdown in November 2025 as prices of key staples—rice, beans, garri, tomatoes and onions—recorded marginal declines, according to the National Bureau of Statistics (NBS). The NBS Selected Food Prices Watch report revealed that the average price of local rice dropped year-on-year to ₦1,861.95, while […]
In a significant move, Governor Godwin Obaseki of Edo State has announced a substantial increase in the minimum wage for civil servants, setting it at N70,000. The governor made this announcement during the inauguration of the new Labour House in Edo state, with the new wage slated to take effect […]
Atiku Abubakar has voiced his concerns over the recent increase in electricity tariff by the Nigerian Electricity Regulatory Council (NERC), warning that it will exacerbate the economic challenges faced by citizens. The hike primarily affects Band A consumers, who receive a minimum of 20 hours of daily power supply, aiming […]
The Association of Bureaux De Change Operators (ABCON) credits the Central Bank of Nigeria’s (CBN) decision to reintegrate BDCs into the forex market for the recent surge in the Naira’s value. ABCON President, Dr. Aminu Gwadabe, highlights several positive impacts: Naira appreciation by N660 (from N1,915/$ to N1,255/$) Reduced prices […]
On Sunday, March 2nd, 2024, residents of the Tasha area in Abuja looted a warehouse belonging to the Federal Capital Territory (FCT) Department of Agriculture. The FCT Police Command swiftly responded, arresting 15 suspects, including two security guards employed by the warehouse. Recovered items included 26 bags of maize, five […]
Britain’s in recession, dealing a blow to PM Sunak and his party ahead of elections. The economy shrank 0.3% in Q4, following a Q3 decline, marking two consecutive quarters of negative growth. While economists predict a short-lived recession, it’s a major setback for Sunak, who prioritizes economic growth. This comes […]
On Friday, February 9, 2024, Mr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), presented an economic update to the joint committees of the Nigerian Senate. He projected a decrease in inflationary pressures to 21.4% in the medium term, attributing this to improved agricultural productivity and the […]
