Economy
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Credit to private sector up by 3.5% to N83.43trn in July 2026, says CBN
The Central Bank of Nigeria (CBN) has revealed that credit to Nigeria’s private sector increased by about N2.84 trillion between April and July 2026, reaching N83.43 trillion in July from N80.59 trillion in April. The increase represents a 3.52per cent rise over the three-month period, pointing to a gradual expansion in lending to businesses and other private-sector borrowers. Year-on-year, private…
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KWASU don advocates land rights, credit access for women farmers
By Mosunmola Ayobami, Ilorin A Professor of Agricultural Economics at Kwara State University (KWASU), Malete, Taibat Moji Yusuf, has called for sweeping reforms to remove structural barriers limiting women’s participation in Nigeria’s agricultural sector. Yusuf made the call on Wednesday while delivering the university’s 23rd Inaugural Lecture, titled, “Empowering Women Farmers in Nigeria: Closing the Gender Gap for Agricultural Transformation…
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Ondo APC group warns against fuel subsidy reversal
By Boye Oyeyemi The Chairman of the PBAT Mandate Elders Forum, Chief Demola Ijabiyi, has warned that any attempt to restore fuel subsidy could undermine infrastructure development and disrupt ongoing economic reforms in Nigeria. Ijabiyi gave the warning on Wednesday while speaking at the quarterly meeting of the forum in Akure, Ondo State, where he urged Nigerians to remain patient…
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NASENI unveils programme to boost Nigerian innovations, targets 100 innovators, 400 jobs
By Olatomiwa Osho The National Agency for Science and Engineering Infrastructure (NASENI) has launched the NASENI Xceler8 Programme, an accelerator aimed at helping Nigerian innovators transform scientific and engineering breakthroughs into commercially viable businesses. The programme, implemented by the NASENI Innovation Hub in partnership with AfriLabs, targets 100 innovators and 100 Minimum Viable Products (MVPs), with at least 400 direct…
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NNPC profit falls 48% to N279bn as revenue drops in July
The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a sharp decline in profit and revenue in July 2026, with profit after tax (PAT) falling by 47.9 per cent to N279 billion. The figure represents a significant drop from the N535 billion profit recorded by the national oil company in June. NNPC disclosed this in its July 2026 Monthly Report…
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FG hails 4.43% GDP growth, says $1trn economy within reach
The federal government says Nigeria’s economy is accelerating towards its target of achieving a $1 trillion Gross Domestic Product (GDP) by 2030, following stronger growth recorded in the second quarter of 2026. The Federal Ministry of Finance said the economy’s real GDP grew by 4.43 per cent year-on-year in Q2 2026, compared with 4.23 per cent in Q2 2025 and…
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Finance, Insurance sector growth drops to 9.29% in Q2 2026
Nigeria’s finance and insurance sector recorded a real growth rate of 9.29 per cent in the second quarter of 2026, down sharply from 16.13 per in the corresponding period of 2025, according to data released by the National Bureau of Statistics. The slowdown comes after banks and insurance companies concluded major recapitalisation exercises that collectively raised more than N5.3 trillion…
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FG says economy on irreversible growth path as Q2 GDP rises 4.43%
The federal government has said Nigeria’s economy is on an irreversible path to stronger growth following the latest Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS). The NBS reported that Nigeria’s real GDP grew by 4.43 per cent in the second quarter of 2026, compared with 4.23 per cent recorded in the corresponding quarter of…
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BREAKING: Nigeria’s gross domestic product grows by 4.43% in Q2 2026
The National Bureau of Statistics (NBS) on Monday revealed that Nigeria’s Gross Domestic Product (GDP) grew by 4.43 per cent (year-on-year) in real terms in the second quarter (Q2) of 2026, higher than the 4.23per cent recorded in the second quarter (Q2) of 2025. The bureau in its Nigerian GDP report for Q2 2026 revealed that agriculture grew by 4.39per cent,…
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Ondo IPMAN urges FG to curb monopoly, revive refineries
By Boye Oyeyemi The Independent Petroleum Marketers Association of Nigeria, Ondo State chapter, has urged President Bola Tinubu to check what it described as the growing dominance of a single player in the downstream petroleum sector amid the rising cost of petrol. The association’s Vice Chairman, Idowu Pius Adebusuyi, said the Federal Government should expand access to fuel import licences…
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