Economy
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At 23.68%, Lagos emerges highest inflation rate state in Southwest geopolitical zone
Currently at 23.68 per cent as of August 2026, Lagos state leads five other south west states as the highest inflation rate state of all-Items on a Year-on-Year (YoY) basis, followed by Osun state that closed at 16per cent. This is according to the latest Consumer Price Index report of the National Bureau of Statistics (NBS). In August 2026, the…
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BREAKING: Nigeria’s headline inflation rate drops to 15.39% in August 2026, says NBS
The National Bureau of Statistics (NBS) on Tuesday disclosed that Nigeria’s headline inflation moderated by four basis points to 15.39 per cent in August from 15.43 per cent in July 2026. According to the NBS report, the movement in August 2026 Headline inflation rate showed a decrease of 0.04 per cent compared to the July 2026 Headline inflation rate. “On…
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My greatest risk was building refinery, fertilizer plants, says Dangote
The President of Dangote Industries Limited, Aliko Dangote on Tuesday revealed that building the Dangote Petroleum Refinery and Petrochemicals FZE emerged as his greatest risk, stressing that the risk has paid off since nobody gave the group a chance. . Speaking on AriseTV, he noted dollarized businesses amid foreign exchange loss was another risk the company took. “This risk really…
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FG backs MyCityApp 100-day tourism calendar to drive creative economy growth
The Federal Government has endorsed the launch of MyCityApp, a Nigerian city discovery and tourism platform designed to aggregate festivals, concerts and lifestyle experiences into a single digital calendar. The platform was unveiled on Monday at the Ember2Remember National Stakeholders’ Conference in Victoria Island, Lagos, where it also flagged off a 100-day tourism calendar aimed at unlocking Nigeria’s $100 billion…
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Nigeria returns to JP Morgan’s global bond index after 11 years
JP Morgan has included Federal Government of Nigeria (FGN) bonds in its freshly launched Government Bond Index–Emerging Markets Edge (GBI-EM Edge), relaunching the country into the bank’s bond benchmark after 11 years. The development came days before FTSE Russell’s reclassification of Nigeria from Unclassified to Frontier market status, effective September 21, 2026, after the index provider concluded that the West…
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Dangote Refinery’s N525 per share IPO opens today on NGX
Dangote Petroleum Refinery & Petrochemicals FZE today announced the commencement of its Initial Public Offering (IPO), marking a historic milestone in Nigeria’s economic development and the evolution of Africa’s capital markets. The offer will be formally launched at a ceremony on the trading floor of the Nigerian Exchange (NGX) in Lagos, bringing to the public, for the first time, an…
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Nigeria reaffirms support for WTO, multilateralism at BRICS summit
Vice President Kashim Shettima has reaffirmed Nigeria’s commitment to the World Trade Organisation (WTO) and the multilateral trading system, saying no country can prosper in isolation from the global community. Shettima stated this on Saturday during a meeting with WTO Director-General, Dr Ngozi Okonjo-Iweala, on the sidelines of the ongoing 18th BRICS Leaders’ Summit in New Delhi, India. The Vice…
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Nigeria’s cloud strategy to attract private capital – NITDA
The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has said Nigeria’s National Cloud infrastructure strategy aims to turn regulatory mandates into investable demand and attract private capital. Speaking at ITW Data Cloud Africa 2026 in Nairobi, Inuwa said Nigeria is shifting from traditional regulation to actively enabling digital markets He identified five pillars of the digital…
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NITDA DG champions co-regulation to unlock digital investment
The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, has called for a unified regulatory framework to attract investment and accelerate Nigeria’s digital economy. Speaking at the ITW Data Cloud Africa 2026 event, Inuwa said investors face challenges navigating multiple government agencies. He urged government to operate through a single regulatory interface to reduce duplication, speed…
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NDIC tasks banks on strong risk management practices to withstand emerging threats
The Nigeria Deposit Insurance Corporation (NDIC) has urged banks to strengthen their risk management practices, corporate governance and operational preparedness to withstand emerging threats to the financial system. The Managing director (MD) of the NDIC, Thompson Sunday, who spoke in a goodwill message at the 19th annual banking and finance conference of the Chartered Institute of Bankers of Nigeria (CIBN)…
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