Air Travel Contracts as Economic Growth Fails to Lift Aviation NIGERIA’S aviation sector recorded a sharp downturn in the first quarter of 2026, even as the broader economy posted stronger growth figures, raising questions about who is actually benefiting from the country’s recovery. According to the National Bureau of Statistics (NBS), air transportation contracted by […]
A Staple Slips Out of Reach ACROSS Nigeria, eggs—once a reliable and affordable protein source—are gradually disappearing from household menus as prices surge to record levels. For families like that of Isioma, a teenager in a low-income household, the change has been stark. Meals that once featured eggs regularly are now rationed or eliminated altogether, […]
Mounting Cost Pressures on Families A sharp increase in school fees across Nigeria is placing unprecedented strain on households, with many parents struggling to keep their children in school. Private school operators have raised tuition by over 30 per cent, citing rising operational costs driven by inflation, fuel price hikes, and broader economic pressures. For […]
Inflation Edges Up After Months of Relief NIGERIA’S inflation rate has recorded its first uptick in nearly a year, rising to 15.38 per cent in March 2026, up from 15.06 per cent in February. The increase, confirmed by the National Bureau of Statistics, marks a reversal of a steady decline that had provided cautious optimism […]
Rising Dependence on Imported Food NIGERIA spent a staggering ₦7.65 trillion on food and beverage imports in 2025, according to the latest Foreign Trade Statistics released by the National Bureau of Statistics (NBS). The report highlights the country’s growing reliance on foreign food products, both for household consumption and industrial production. Breakdown of Imports Primary […]
Nigeria’s Economy: Recovery or Rebranding? WHEN President Bola Ahmed Tinubu recently declared that Nigeria was “out of the woods,” the remark immediately sparked debate across policy circles, markets, and households. The statement, delivered at the Presidential Villa, suggested that a mix of economic reforms, improving security conditions, and governance initiatives had begun steering the country […]
By OBIOMA TORI NIGERIA’S value-added tax (VAT) revenue rose significantly in the third quarter of 2025, reaching ₦2.28 trillion, according to the latest report released by the National Bureau of Statistics (NBS). The report showed that the figure represents a 10.66 per cent increase compared with the ₦2.06 trillion generated in the second quarter of […]
CBN Announces Rate Reduction THE Monetary Policy Committee (MPC) of the Central Bank of Nigeria has reduced the country’s benchmark interest rate to 26.5 per cent. CBN Governor Olayemi Cardoso announced the decision at the end of the committee’s two-day meeting held from 23 to 24 February in Abuja. The move represents a 50-basis-point cut […]
By FIDELUS ZWANSON Rising Rents, Growing Frustration AMID growing public anger over escalating housing costs, real estate stakeholders have warned that removing VAT on land and rent will not deliver meaningful relief to tenants. Although the Federal Government has exempted VAT on land, buildings and rent under the current tax framework, property professionals argue that rental […]
Single-Digit Food Inflation After a Decade NIGERIA has recorded its first single-digit food inflation rate in more than 10 years, signalling a dramatic shift in the country’s inflation trajectory and offering relief to households battered by years of rising food costs. Data from the National Bureau of Statistics show that food inflation slowed to 8.89 […]