Fitch Revises Nigeria’s Outlook to Positive on Reforms
By Oluwakemi Kindness Fitch Ratings has revised Nigeria’s credit outlook to Positive from Stable, citing stronger foreign reserves, moderating inflation and sustained economic reforms. The agency retained Nigeria’s long-term credit rating at ‘B’, saying further improvements will depend on continued progress. The Federal Ministry of Finance announced the decision in a statement signed by Minister […]
Inflation Eases to 15.39% as Food Prices Slow — NBS
By: Mardiyyah Abubakar Nigeria’s headline inflation rate eased marginally to 15.39 per cent in August 2026, driven largely by a significant slowdown in food price growth, the National Bureau of Statistics has said. The NBS disclosed this in its Consumer Price Index report for August, released on Monday, noting that the figure was 0.04 percentage […]
CBN: Naira-Official FX Rate Gap Falls Below 2%
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) says the gap between the official exchange rate and Bureau de Change rates has narrowed to below two per cent. The apex bank said the development reflects improving stability in the foreign exchange market. The Acting Director of Corporate Communications and Investor Relations Department of the […]
Indonesia’s Central Bank Governor Perry Warjiyo Resigns
By Mardiyyah Abubakar Indonesia’s central bank governor, Perry Warjiyo, has resigned before the end of his second term as the country grapples with economic challenges triggered by the Middle East war. The government announced on Monday that President Prabowo Subianto accepted Warjiyo’s resignation after he stepped down for personal reasons. State Secretary Prasetyo Hadi said […]
Africa Seeks Economic Resilience Amid Global Shocks
By Oluwakemi Kindness African policymakers, central bankers and development experts will gather are set to explore strategies for strengthening the continent’s economies against growing global economic uncertainty. This will take place at the 7th Africa Emerging Markets Forum opens on Wednesday at the Central Bank of Nigeria (CBN) Headquarters in Abuja under the theme, “Building […]
CBN Retain Rates As Cardoso Says Economy Remains Resilient
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) says the country’s economy remains resilient despite mounting global uncertainties. Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, who srated this on Tuesday after the Monetary Policy Committee (MPC) meeting in Abuja, attributed the performance to reforms implemented by both the fiscal and monetary […]
Diesel Price Jumps 86% in One Year, Hits N3,277/Litre – NBS
By Oluwakemi Kindness The National Bureau of Statistics (NBS) says Nigerians faced mounting energy costs in May as the average retail price of diesel surged by 86.4 per cent year-on-year to N3,277.47 per litre, the highest increase recorded among the country’s major petroleum products. The NBS latest Price Watch report on Monday showed that diesel, […]
Trump Orders Probe of Oil Firms Over High Gas Prices
By Oluwakemi Kindness U.S. President Donald Trump has ordered an investigation into major oil companies, accusing them of keeping gasoline prices artificially high despite a decline in crude oil costs. In a post on Truth Social on Wednesday, Trump alleged that oil companies were failing to pass lower crude prices on to consumers. “The big […]
Focus on Security, Not 2027 Politics, Minority Reps Tell Tinubu
By Oluwakemi Kindness The Minority Caucus of the House of Representatives on Wednesday called on President Bola Tinubu to suspend all activities related to the 2027 general elections and immediately concentrate on tackling the country’s worsening security and economic challenges. Addressing journalists at the National Assembly, Minority Leader, Rep. Fred Agbedi, said Nigeria was facing […]
FG Admits Inflation, Insecurity as Major National Challenges
By Sofiat Adenekan-Abdul The Federal Government has acknowledged that inflation and insecurity remain major challenges facing Nigerians, even as it defended the economic reforms introduced under President Bola Tinubu’s administration. Secretary to the Government of the Federation (SGF), Senator George Akume, made this known on Tuesday in Abuja during a news briefing marking the 2026 […]