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Global energy markets witnessed a dramatic convulsion yesterday as crude oil prices surged to new heights. Nigeria’s premium grade, Bonny Light, soared to $78 per barrel following intensified rhetoric from Washington. This price level represents the highest peak for the national crude grade since last August. Concurrently, the international benchmark, Brent crude, rallied by nearly…
Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has criticised the Federal Government over reports that Nigeria spent about $9 million on foreign lobbyists in Washington, describing the move as another example of misplaced priorities amid worsening socio-economic conditions at home. In a statement posted on his verified X (formerly Twitter) handle…
The Minister of Information and National Orientation, Alhaji Mohammed Idris, has said President Bola Ahmed Tinubu’s administration is laying a solid foundation for long-term economic growth and shared prosperity in Nigeria, despite taking what he described as bold and sometimes difficult decisions. Idris made the remarks while receiving members of the Grassroots Advocacy for Tinubu…
Nigeria’s inflation rate slowed in November 2025, offering cautious optimism for households and businesses grappling with rising prices. According to the National Bureau of Statistics (NBS), the headline inflation rate declined to 14.45% in November from 16.05% recorded in October, marking a notable easing in the pace of price increases. The NBS explained that the…
The total amount of foreign exchange (FX) that streamed into the Nigerian economy skyrocketed by 64% to $30.18billion in the third quarter (Q3) of 2021 compared to the $18.4billion recorded in the previous quarter. This is about the data of the statistical bulletin for Q3 2021, from the Central Bank of Nigeria (CBN). The FX…
The emergence of the COVID-19 pandemic has been disastrous for all economies around the world including Nigeria. The downturn in the Nigerian economy precedes the epidemic, however, as GDP per head has been on the descent since 2015. Presently, everything is now very expensive. Inflation is as high as 18%, while food is at 23%….
