Economy
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NDIC commences payment for depositors of Aso Savings, Union Homes
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the payment of insured deposits to customers of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, following the revocation of their licenses by the Central Bank of Nigeria (CBN) on December 15, 2025. The NDIC, appointed as the official liquidator of the defunct banks, confirmed that depositors will…
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ECOWAS directs Nigeria, other states to implement 25% cut in regional airfare from Jan 2026
The Economic Community of West African States (ECOWAS) has directed Nigeria, other member states to fully implement a 25 per cent reduction in regional air transport charges, effective from January 1, 2026. ECOWAS gave the directive at its 68th ordinary session held on Sunday in Abuja. In the top 10 most expensive countries in terms of ticket taxes, charges and…
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Estimated inflation to average 21.9% y/y in 2025, analysts
A group of analysts at Cordros Research have projected that Nigeria’s inflation rate is estimated to close 2025 with an average 21.9 per cent year-on-year (y/y). The company noted that a spike in the December 2025 inflation reading is possible due to the December 2024 Consumer Price Index (CPI) rebasing, which introduced a discontinuity in the series. “The artificially low…
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Amid increase in fiscal reforms, federation account inflows hit N23.06trn in 10 months
The Revenue Mobilisation Allocation and Fiscal Commission has said inflows into the Federation Account rose to N23.06trillion in the first 10 months of 2025, attributing the increase to fiscal reforms, stronger audits, and improved coordination among revenue agencies. The Chairman of the commission, Mohammed Shehu, disclosed this on Monday in Abuja while delivering his keynote address at a two-day National…
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FAAC disburses N1.92trn to FG, States, LG in November 2025
The Federation Account Allocation committee (FAAC) shared a sum of N1.92 trillion in November 2025 to the federal government, states and the local government councils. According to a report, the revenue was shared at its December 2025 meeting held in Abuja, and chaired by Doris Uzoka-Anite, minister of state for finance. In the communique issued at the end of the…
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At 17.65% YoY, Ogun state leads South West states with highest inflation rate
The National Bureau of Statistics (NBS) on Monday revealed that Ogun state with 17.65 per cent Year-on-Year (YoY) as of November 2025 has the highest all inflation rate among the South West states in Nigeria The latest Consumer Price Index (CPI) report by NBS disclosed that the country’s headline inflation rate in November 2025 dropped to 14.45 per cent from …
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BudgIT calls for budget reform over FG’s deferment of 2025 capital projects
By Kunle Sanni – Civil society organisation BudgIT has expressed cautious concern over the Federal Government’s decision to defer the implementation of about 70 per cent of capital projects approved in the 2025 budget to the 2026 fiscal year. The deferment was announced by the Federal Ministry of Budget and Economic Planning, signalling a significant adjustment to the execution of…
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BREAKING: Nigeria’s inflation rate drops to 14.45% in Nov 2025, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that Nigeria’s headline inflation rate eased by 160basis points to 14.45per cent in November 2025 from 16.05 per cent October 2025. NBS in its report stated that the November 2025 inflation rate showed a decrease of 1.6 per cent compared to the October 2025 inflation rate. The report disclosed that, “On…
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Dangote slams NMDPRA on fuel imports, cites potential damage to local refining
Chairman of Dangote Industries Limited, Alhaji Aliko Dangote, has criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over what he described as the indiscriminate issuance of licences for the importation of petroleum products, warning that the practice threatens the survival of Nigeria’s downstream oil sector. Dangote made the remarks during a media interaction at his refinery on Sunday,…
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BoA explains delay in distribution of Tinubu-unveiled 2,000 tractors
Says equipment to move into farms in January By Kunle Sanni – The Bank of Agriculture (BoA) has explained the delay in the distribution of tractors unveiled on June 24 by President Bola Tinubu, saying the pause is intentional and aimed at reforming Nigeria’s agricultural mechanisation system. The tractors, which were imported from Belarus, have not yet been released to…
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