CBN Explains Scarcity of ₦100, ₦200 Notes, Says They Remain Legal Tender Apex Bank Reassures Nigerians THE Central Bank of Nigeria (CBN) has assured Nigerians that the ₦100 and ₦200 notes remain legal tender despite their apparent scarcity across the country. CBN Governor Olayemi Cardoso gave the clarification after the Monetary Policy Committee (MPC) meeting […]
FG Disburses ₦333 Billion to GenCos, Rolls Out New Bond to Reduce Power Sector Debt Government Advances Electricity Debt Settlement Programme THE Federal Government has disbursed approximately ₦333 billion to eight electricity generation companies (GenCos) as part of its ongoing Power Sector Debt Reduction Initiative, while unveiling a second ₦729 billion bond issuance aimed at […]
Jollof Rice Emerges as Symbol of Nigeria’s Economic Pressures NIGERIA’S worsening food affordability crisis has become increasingly evident in the soaring cost of preparing a simple pot of jollof rice, with prices increasing by 624 per cent over the past decade, according to a new report by SBM Intelligence. The latest edition of the SBM […]
Energy Transition Driven by Consumers Rather Than the National Grid NIGERIA’S renewable energy transition is increasingly being powered by households and businesses rather than public electricity infrastructure, with new research showing that consumer-led solar adoption is accelerating despite limited investment in large-scale renewable power generation. BloombergNEF’s latest Sub-Saharan Africa Renewable Energy Market Outlook identifies Nigeria […]
Economic Pressures Reshape Consumer Spending on Technology NIGERIA’S rising inflation and cost-of-living pressures are driving a significant shift in consumer behaviour, with more people opting to repair damaged mobile phones and other digital devices instead of purchasing new ones. The Vice Chairman of Abuja GSM Village, Mr. Abdulfatah Aliyu, disclosed this in Abuja, saying worsening […]
Economic Summit to Showcase Delta’s Investment Opportunities THE Delta State Government has outlined an ambitious economic transformation agenda centred on infrastructure, energy, maritime development and industrial expansion as it prepares to host the 2026 Delta State Economic and Investment Summit in Asaba. Speaking ahead of the three-day summit, Secretary to the State Government, Dr. Kingsley […]
Persistent delays in releasing approved budget allocations are slowing government projects, affecting public services and exposing wider fiscal pressures facing federal ministries and agencies. Budget Release Delays Leave Federal MDAs Struggling to Deliver Services CONCERNS are mounting across Nigeria’s federal public service over persistent delays in the release of budgetary allocations, with civil servants warning […]
FG Explains Nigeria’s Rising Debt Figures THE Federal Government has dismissed claims that President Bola Tinubu’s administration borrowed about ₦80 trillion within its first three years in office, insisting that the figures circulating in the public domain do not accurately reflect the country’s borrowing profile. Minister of Finance and Coordinating Minister of the Economy, Mr. […]
Despite strong investor participation in the 2025 Licensing Round, 13 oil and gas blocks will be returned to the licensing basket after receiving no bids, the Nigerian Upstream Petroleum Regulatory Commission says. FG Returns 13 Oil Blocks to Licensing Basket After Failing to Attract Bids 37 of 50 Blocks Draw Investor Interest THE Federal Government […]
Experts, developers and residents are questioning why substantial government spending has produced limited affordable housing as rising rents intensify pressure on households across the South-East. South-East’s Housing Challenge: Spending Rises While Affordable Homes Remain Scarce Budget Growth Fails to Ease Housing Pressure DESPITE significant public investment in housing over the past three years, affordable accommodation […]