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The average pump price of petrol in Nigeria rose slightly in February 2026, even as diesel also recorded a monthly increase, according to fresh data released by the National Bureau of Statistics (NBS) on Friday. In its latest Premium Motor Spirit (Petrol) Price Watch, the NBS said Nigerians paid an average of N1,051.47 per litre…
Foreign portfolio investment flowing into Nigeria’s stock market surged by 39.4% in February 2026, rising to N66.71 billion from N47.86 billion recorded in the same period of 2025, according to data released by the Nigerian Exchange Limited. The NGX report, released on Wednesday, shows a broad uptick in market activity, with total transactions at…
Nigeria attracted $6.44 billion in capital importation in the fourth quarter of 2025, the National Bureau of Statistics has revealed, marking a 26.61 per cent rise from the $5.09 billion recorded in the same period of 2024. Data released by the NBS on Wednesday also showed a 7.13 per cent quarter-on-quarter improvement from the $6.01…
Nigeria’s monetary policy architecture is undergoing a fundamental transformation. The Central Bank of Nigeria has committed itself to a deliberate transition toward an inflation-targeting framework, abandoning decades of discretionary monetary management in favour of a transparent, rules-based system explicitly anchored to long-term price stability. The shift represents one of the most significant policy reorientations undertaken…
The Dangote Petroleum Refinery has raised its petrol price to N1,275 per litre, marking the fifth adjustment this month. This latest hike came just hours after a previous increase on Friday night, signalling extreme volatility in Nigeria’s deregulated market. The new rate is a N100 jump from the N1,175 seen earlier in March. Every previous…
Nigeria faces a fresh round of fuel queues and price hikes due to a breakdown in crude supply to domestic refineries. The House of Representatives Committee on Petroleum Resources (Downstream) issued the warning on Thursday after conducting oversight in Abuja. Lawmakers identified a widening gap between the crude required by the Dangote refinery and what…
A comprehensive policy review has exposed critical structural barriers undermining the growth and sustainability of micro, small and medium enterprises in Nigeria, despite the sector’s strategic importance to the national economy and employment generation. The report, titled ‘Reassessment of Nigeria’s National Policy on Micro, Small and Medium Enterprises (MSMEs), 2021–2025 and Strategic Directions for 2026–2030’,…
In recent years, Nigeria has witnessed a perplexing economic phenomenon: the rising prices of food and essential items despite a backdrop of poor consumer demand. This situation is particularly striking as it unfolds against the backdrop of the religious observance periods of Lent for Christians and Ramadan for Muslims, times traditionally marked by fasting and…
Nigeria’s food inflation rate climbed back into double-digit territory in February 2026, rising to 12.12 per cent and reversing the single-digit slowdown recorded just one month earlier, according to data released by the National Bureau of Statistics on Monday. The February figure represents a sharp month-on-month increase of 3.23 percentage points from the 8.89…
Governor of the Central Bank of Nigeria, Olayemi Cardoso, has expressed confidence that the country’s ongoing macroeconomic reforms have fortified the economy against potential shocks from escalating geopolitical tensions in the Middle East, particularly the evolving crisis involving the United States, Israel and Iran. Cardoso made the assertion on Wednesday while delivering a Distinguished…
