Economy
Next week, the Central Bank has to choose between two numbers pointing in different directions. The CBN’s Monetary Policy Committee meets next week. On paper, the case for a rate cut has never looked better. Food inflation came in at 8.89% in January, the first...
Economy
Nigeria now owes the World Bank’s concessional arm $18.7 billion. A new $500 million loan is being processed. Nigeria is the World Bank’s third-largest IDA borrower as of December 2025. The figure is $18.7 billion, up from $16.8 billion a year...
Economy
Food inflation hit a 10-year low. The structural problems that caused it are still there. Nigeria’s food inflation fell to 8.89% in January 2026, the first single-digit reading since 2015, down from 29.63% this time last year. Staples including yam, eggs,...
Economy
The Central Bank finally let Bureau de Change operators back into the official foreign exchange market. Each licensed BDC can now buy up to $150,000 weekly from authorized dealer banks. The catch: they have 24 hours to sell any unused dollars back to the market. No...
Economy
Foreign reserves hit $49 billion. CBN Governor Olayemi Cardoso announced a 4.93% increase and sharp climb from the $3 billion net reserves when he took office. Remittances drove much of the growth while premium between official and parallel exchange rates collapsed to...
Economy
The fuel price war just flipped on you. Imported petrol now costs ₦77 per litre less than Dangote Refinery’s ₦799 gantry price, according to data from the Major Energies Marketers Association. After months of Dangote undercutting importers, the market reversed....