Nigeria has signed a Letter of Intent (LOI) with the African Development Bank (AfDB) to advance the implementation of the $7 billion Integrated Aviation Transformation Programme (IATP), a major continental initiative aimed at modernising Africa’s aviation sector. The agreement was signed on behalf of the Federal Government by the Minister of Aviation and Aerospace Development, […]
Nigeria’s economy expanded by 3.89% year-on-year in the first quarter of 2026, according to data from the National Bureau of Statistics (NBS). The figure is higher than the 3.13% recorded in Q1 2025 and slightly above the 3.87% full-year growth rate recorded in 2025, suggesting continued economic resilience despite elevated interest rates, inflationary pressures, and
Nigeria’s 3.89% Q1 2026 GDP Growth and What It Signals for the Stock Market Read More »
Three years after President Bola Ahmed Tinubu assumed office, Nigeria’s economic direction remains defined by a sweeping reform agenda anchored on fuel subsidy removal, foreign exchange liberalisation, and efforts to strengthen government revenue generation and investor confidence. While the administration points to improved macroeconomic indicators and fiscal adjustments as evidence of progress, many Nigerians continue
Food prices across major Lagos markets rose again in May 2026, reversing part of the broad-based relief observed in April, as higher transportation costs, seasonal supply shifts, and rising logistics expenses continued to affect staple commodities. The increase in food prices was largely driven by higher diesel and transport costs, with fuel prices rising
Lagos food prices rise again in May 2026 as transport costs reverse April relief Read More »
The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5% at its 305th Monetary Policy Committee (MPC) meeting, keeping monetary policy tight rather than shifting toward easing. The committee also maintained other key policy parameters, signalling continued caution around inflation, liquidity conditions, and exchange rate stability. For investors, the
CBN holds MPR at 26.5%: What it means for commercial papers and corporate funding Read More »
Retail lending in Nigeria declined in January 2026 despite continued growth in consumer and personal loans, reflecting tighter banking system liquidity and cautious credit expansion by deposit money banks. Data from the Central Bank of Nigeria’s January 2026 Economic Report showed that retail loans moderated during the review period, even as consumer credit outstanding rose
Retail lending declines in January 2026 amid tighter liquidity and high interest rates Read More »
The United Nations Conference on Trade and Development (UNCTAD) has said the global transition to renewable energy will require more than $1 trillion in annual investments by 2030, warning that developing economies may struggle to meet climate and energy targets without stronger foreign direct investment inflows and wider access to clean technologies. The disclosure
UNCTAD: Global renewable energy transition will require over $1 trillion yearly by 2030 Read More »
Four of the five FUGAZ banks operating licensed banking subsidiaries in the United Kingdom — Access Holdings, GTCO, Zenith Bank, and UBA — recorded a combined pre-tax profit of approximately N399.2 billion from their UK operations for the year ended December 31, 2025. This is according to the audited full-year 2025 financial statements filed with
FUGAZ banks’ UK subsidiaries post combined N399.2 billion pre-tax profit in 2025 Read More »
Shareholders of Abbey Mortgage Bank Plc have approved plans to raise up to N164.5 billion in fresh capital as the lender accelerates efforts to transform into a regional commercial bank. The approvals were granted at the bank’s Annual General Meeting (AGM) held on Monday, May 25, 2026, where shareholders overwhelmingly backed a N64.5 billion
Nigeria has cancelled $717.7 million in undisbursed funding under the World Bank-backed Power Sector Recovery Performance-Based Operation (PSRO), marking a major setback for efforts to restore financial sustainability in the country’s electricity sector amid rising tariff deficits, foreign exchange pressures, and persistent operational inefficiencies. According to a World Bank restructuring paper obtained by Nairametrics
