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The naira weakened to N1,410 against the United States dollar in the parallel market on Thursday, easing from N1,405 a day earlier, as renewed demand pressure pushed the currency lower across both segments of Nigeria’s foreign exchange market. At the official window, the currency also lost ground. Data from the Central Bank of Nigeria…
The World Bank could scale up financial support to as much as $100bn over the next 15 months to help developing countries withstand the economic fallout from the escalating crisis in the Middle East, the lender has announced, warning that the conflict risks pushing global growth to its weakest level since the COVID-19 pandemic….
The Nigeria Governors’ Forum has asked President Bola Tinubu to consider raising the national minimum wage to 100,000 naira. Kwara State Governor AbdulRahman AbdulRazaq, who chairs the forum, proposed a weekend meeting at the presidential residence in Lagos. The governors cite relentless inflation and the soaring cost of living as major reasons for the upward…
The United Nations has cut its global economic growth projections, warning that the war in the Middle East threatens to derail international trade and commodity markets. UN economists now forecast global gross domestic product to expand by 2.5 percent this year. A slightly better performance of 2.8 percent is pencilled in for next year. The…
 The African Democratic Congress (ADC) has dismissed the federal government’s celebration of a 22 per cent rise in dollar GDP as a whitewash. While official data suggests the economy hit $307bn in 2025, the opposition party argues these figures offer no relief to a hungry population. National Publicity Secretary Bolaji Abdullahi noted that “people do…
The Iranian rial has plummeted to a record low of 1.81 million to the US dollar as a tightening US naval blockade cripples the nation’s economy. While the currency saw a brief, minor recovery from its intraday trough, the trajectory remains catastrophic. Just one year ago, the rial traded at roughly 811,000 per dollar. This…
The National Bureau of Statistics reports that average retail petrol prices fell by 15.6 per cent year-on-year by February 2026. Data confirms the average cost reached ₦1,051.47, down from ₦1,245.80 in February 2025. This annual decline suggests a slight cooling in the downstream oil sector since the shock of the 2023 subsidy removal. Yet, the…
Former Vice President Atiku Abubakar has launched a sharp critique of President Bola Tinubu’s economic policies, accusing the administration of presiding over what he described as “privatisation without accountability” while ordinary Nigerians endure worsening living conditions. In a statement issued Friday by his Senior Special Assistant on Public Communication, Phrank Shaibu, the African Democratic…
Nigeria’s headline inflation rate rose to 15.38 per cent in March 2026, snapping a year-long easing trend and signalling renewed pressure on household budgets across the country. The National Bureau of Statistics disclosed the figures in its Consumer Price Index report released on Wednesday. The increase marks the first time the headline inflation rate…
Consumer prices in the United States climbed sharply in March, driven by a historic surge in gasoline costs triggered by the ongoing conflict in the Middle East, according to government data released Wednesday. The US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose 3.3 percent year-on-year in March, a…
