News
79% of Nigerians at Risk of Poverty Despite Reforms - World Bank
7+ hour, 17+ min ago (1427+ words) Despite nearly three years of sweeping economic reforms by the Federal Government, about 79 per cent of Nigerians remain poor or vulnerable to falling into poverty, highlighting the country’s deepening social and economic challenges, new World Bank documents have shown. The…...
Cooking Gas Costs Remain High Despite Improved Supply
6+ day, 10+ hour ago (611+ words) Two weeks after the Federal Government’s emergency intervention in the liquefied petroleum gas market, marketers say cooking gas prices have yet to return to normal despite improved product supply and easing market tensions. Although supply has improved significantly following the…...
Consumer Goods Prices Increase Despite Stable Economic Indicators
6+ day, 10+ hour ago (552+ words) Prices of several fast-moving consumer goods in Nigeria’s retail market recorded fresh increases, with some dairy and cereal products posting increases of up to 66.7 per cent despite a relatively stable macroeconomic environment. The latest market data, obtained on Thursday from…...
Trade Surplus Soars 341% to ₦7.55trn in Q1 2026 – NBS
1+ mon, 1+ week ago (289+ words) Nigeria’s merchandise trade surplus surged to ₦7.55 trillion in Q1 2026, a 340.9% increase from the previous quarter, according to the National Bureau of Statistics (NBS). Total trade stood at ₦34.79tn, with exports at ₦21.17tn and imports at ₦13.62tn. The NBS attributed the surplus to higher crude oil…...
Manufacturing Sector Rebounds, Contributes 9.57% to GDP
1+ mon, 3+ week ago (252+ words) The manufacturing sector contributed 9.57% to real GDP in Q1 2026, according to the National Bureau of Statistics (NBS), marking a rebound from the 7.40% share in Q4 2025. Although slightly lower than the 9.62% contribution in Q1 2025, the sector showed stronger growth momentum, with real GDP growth…...
Nigeria’s Trade Surplus Jumps 220% to $480m
1+ mon, 3+ week ago (394+ words) Nigeria recorded a $480 million trade surplus in January 2026, driven by a 4.46 percent increase in export receipts to a record $4.68 billion, largely fueled by petroleum products. This represents a 220 percent month-on-month (MoM) increase in trade surplus when compared to$150 million recorded…...
“We Are Activating a Citizen-Centred Tax Service System” - Tax Ombud
1+ mon, 4+ week ago (71+ words) “We Are Activating a Citizen-Centred Tax Service System” – Tax Ombud economicconfidential.com “We Are Activating a Citizen-Centred Tax Service System” – Tax Ombud “We Are Activating a Citizen-Centred Tax Service System” – Tax Ombud Economic Confidential is a magazine published and produced by…...
63% of Nigerians Want Lower Interest Rates – CBN Survey
1+ mon, 4+ week ago (340+ words) The Central Bank of Nigeria (CBN) says 63.3% of Nigerians want interest rates reduced, according to its April 2026 Inflation Expectations Survey Report, ahead of the Monetary Policy Committee (MPC) meeting scheduled for May 19–20. The survey, published by the CBN’s Statistics Department,…...
Economic reforms painful but necessary for Nigeria’s growth — Minister
2+ mon, 4+ hour ago (557+ words) The Minister of Solid Minerals Development, Dele Alake, says the current economic difficulties in Nigeria are painful but part of the necessary transition toward building a resilient and sustainable economy. Alake stated this at the maiden edition of the Solid…...
Manufacturers Grapple with 60% Lending Rates Despite CBN Easing Measures
3+ mon, 2+ week ago (645+ words) Manufacturers in Nigeria continue to face borrowing costs as high as 60 per cent despite recent monetary policy easing by the Central Bank of Nigeria, new data from the apex bank shows. The figures, detailing lending and deposit rates across deposit…...