The Central Bank of Nigeria (CBN) has reduced its Monetary Policy Rate (MPR) from 26.5 per cent to 23 per cent, signalling a shift towards a less restrictive monetary policy stance as inflationary pressures moderate. CBN Governor, Olayemi Cardoso, announced the decision on Tuesday after the 306th meeting of...
inflation
Nigeria’s headline inflation rate declined slightly to 15.39 per cent in August 2026, down from 15.43 per cent recorded in July, according to the National Bureau of Statistics (NBS). The latest Consumer Price Index (CPI) report released by the bureau on Tuesday showed a 0.04 percentage point drop in...
Former Vice President Atiku Abubakar has expressed deep concern over the worsening security situation in Benue State, warning that the continued violence in the country’s food-producing region is worsening food inflation and increasing the cost of living for millions of Nigerians. In a statement shared on Monday, Atiku described...
Nigeria’s headline inflation rate declined to 15.43 per cent in July 2026, from 15.91 per cent in June, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday August 17. The NBS said the July figure represented a 0.48 percentage-point...
Nigeria’s headline inflation rate declined further to 15.43 percent in July 2026, marking another month of easing price pressures across the country. The latest figures were released on Monday by the National Bureau of Statistics (NBS) in its Consumer Price Index (CPI) and Inflation Report. According to the report,...
Central Bank of Nigeria (CBN) on Wednesday July 22 defended its monetary and foreign exchange reforms before the Senate, insisting that recent policy measures are yielding positive results despite concerns over inflation, bank lending and the apex bank’s financial operations. CBN Governor Olayemi Cardoso, accompanied by the four deputy...
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, on Tuesday clarified that the ₦100 and ₦200 notes remain legal tender and have not been withdrawn from circulation. Speaking after the Monetary Policy Committee (MPC) meeting in Abuja, Cardoso said the apparent scarcity of lower-denomination notes was largely...
Nigerian Communications Commission (NCC) has started a major review of telecom pricing rules, marking the first comprehensive assessment of the sector’s tariff framework in nearly eight years. The exercise, being carried out in partnership with KPMG, was launched at a Mobile Termination Rate stakeholders’ forum in Lagos on Tuesday....
Nigeria’s headline inflation rate climbed to 15.93 per cent in May 2026, marking the third consecutive monthly increase, the National Bureau of Statistics reported on Monday. According to the NBS Consumer Price Index report, the CPI rose to 140.7 in May from 138.3 in April, reflecting continued pressure on...
Nigeria’s headline inflation rate rose to 15.69% in April 2026, up from 15.38% in March, according to Consumer Price Index data released on Friday by the National Bureau of Statistics. On a month-on-month basis, the headline inflation rate slowed to 2.13% from 4.18% in March. This shows a slower...
National Chairman of the African Democratic Congress (ADC), Senator David Mark, has paid glowing tribute to Nigerian workers for their resilience, dignity, and unwavering sacrifices, declaring that Nigeria remains standing because of their hard work and dedication In his 2026 Workers’ Day message issued on Friday in Abuja, Senator...
Data has shown that improving macroeconomic conditions and financial systems contributes to stabilising the economy, where evidence-based policy frameworks are positioned to safeguard the soundness and resilience of the financial system. The Monetary Policy Committee (MPC) is far more than a technical update; it is a decision of steady...
Nigeria’s headline inflation eased to 15.10% in January 2026, marking a notable moderation in price pressures following the rebasing of the Consumer Price Index by National Bureau of Statistics. The CPI fell to 127.4 points, down by 3.8 points from December 2025, reflecting a sharp month-on-month contraction of -2.88%,...
Nigeria Tax Act 2025 (NTA 2025) policy signed into law on June 26, 2025, effective from January 1, 2026, shall commence on January 19, 2026. With the implementation, if you send money through your mobile banking app, use USSD codes like *737# or *919#, or rely on fintech platforms...
President Bola Ahmed Tinubu has declared that 2026 marks the start of a stronger and more resilient phase of economic growth for Nigeria, assuring citizens that recent reforms are yielding results and that greater benefits lie ahead for ordinary Nigerians. In his New Year goodwill message to the nation...
Nigeria’s inflation rate fell further in November, offering fresh relief to households after years of punishing price increases that triggered a deep cost-of-living crisis. The latest data released on Monday by the National Bureau of Statistics (NBS) showed that headline inflation moderated to 14.45 per cent in November 2025,...
There are hardly any economic indices in Nigeria today that have not improved since President Tinubu assumed office on Monday, May 29, 2023. Below, I have listed ten, just in case you are misled by disgruntled politicians into thinking you are worse off today than you were in 2023....
Notable Think Tank , the Independent Media and Policy Initiative (IMPI) has established a link between the steady increase in Nigeria’s Purchasing Manager’s Index (PMI) and the decline in inflation in the country for the seventh consecutive month.This according to the policy group is because the PMI reflects the...
Nigeria’s headline inflation continued its downward trajectory in October, easing to 16.05%, according to the latest Consumer Price Index (CPI) report released on Monday by the National Bureau of Statistics (NBS). The Bureau noted that the figure represents a notable drop from the 18.02% recorded in September. On a...
In a strategic move to support economic recovery, the Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points—from 27.5% to 27%—following the conclusion of the Monetary Policy Committee (MPC) meeting held on September 22 and 23, 2025. The decision, made by the...