Nigeria’s headline inflation rate has continued to slow, falling from 15.43 per cent in July to 15.39 per cent in August 2026. The latest figures from the National Bureau of Statistics (NBS) show another month of easing price pressures, but the numbers do not mean Nigerians are suddenly paying less for food and other essentials….
Nigeria’s manufacturing sector recorded its strongest business performance of 2026 in August, according to the latest Business Confidence Monitor from the Nigerian Economic Summit Group (NESG). The improvement was part of a wider recovery in business activity. Nigeria’s Current Business Performance Index rose from 108.6 points in July to 112.7 points in August, its highest…
Nigeria’s latest state finance figures are exposing a growing fiscal divide between Nigerian states. In 2025, the 36 states and the Federal Capital Territory generated about ₦4.15 trillion in internally generated revenue, but Lagos State generated 45% of subnational IGR, highlighting how heavily Nigeria’s domestic revenue base depends on one state. At the same time,…
Nigeria’s power sector contracted by 10.63% in Q2 2026, extending its decline for a second consecutive quarter even as the wider economy recorded stronger growth. The figures raise a bigger question than the latest contraction: can Nigeria sustain economic growth without fixing its electricity supply chain? Power Sector Moves in the Opposite Direction According to…
Uber exits Nigeria and this has brought an unexpected end to the company’s 12-year run in one of Africa’s biggest consumer markets. Uber stopped operations in Nigeria on September 2, alongside its exit from Uganda, saying it had reviewed its business priorities and investment focus across Africa. The company did not give a specific reason…
EFCC dismisses over 40 staff for corruption and financial malpractice, marking a significant shift in the agency’s anti-corruption drive. EFCC Chairman Ola Olukoyede disclosed on Monday that more than 40 personnel had been removed from the commission during his roughly three years in charge, with more than five of them currently facing prosecution. The announcement…
Brent crude has climbed above $95 per barrel as renewed US-Iran tensions raise fears of disruptions to oil supplies through the Strait of Hormuz, one of the world’s most important oil shipping routes. Brent reached about $95.40 in early trading on Wednesday, while WTI moved above $90. For Nigeria, the immediate concern is not simply…
The race to increase AI data center capacity is becoming just as important as the race to develop better AI models. Major technology figures, including Mark Zuckerberg and Elon Musk, are calling for a rapid expansion of computing infrastructure as demand for AI services continues to grow. The message from the tech industry is becoming…
The EFCC N1.23 trillion recovery announced by the Economic and Financial Crimes Commission is drawing attention not only because of the size of the figure, but because of what happens to the money and assets after they are recovered. EFCC Chairman Ola Olukoyede said the commission recovered N1.233 trillion, $684.48 million, £373,905.78 and €9.34 million…
Nigeria’s economy grew by 4.43% in the second quarter of 2026, according to the National Bureau of Statistics (NBS), marking an improvement from 3.89% in Q1 and 4.23% in the same period last year. The figure gives the government another reason to point to economic recovery. But the more interesting question is whether Nigeria’s economic…
