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Nigeria's private sector experienced its first contraction in 16 months, with the Purchasing Managers' Index (PMI) dropping to 49.4 points in April 2026. This decline indicates a weakening in economic activity within the private sector.
Oyo State is working to draw private investment into agribusiness through the Iseyin Agric Value Hub. The initiative aims to secure strategic government support to enhance agricultural development.
The Bank of Namibia has maintained its benchmark interest rate at 6.50 percent for the third consecutive meeting. This decision comes amid uncertainties stemming from the ongoing conflict in the Middle East.
The cost of a pot of jollof rice reached ₦30,435 in March, reflecting the rising cost of living in Nigeria. Lagos experienced the highest increase, with a monthly spike of over 23 percent.
Brent Oil prices surged nearly 4%, reaching over $117, marking a one-month high. This increase is attributed to concerns over potential disruptions in the Hormuz Strait.
Kenya's inflation has reached a two-year high, driven by fuel supply disruptions. The situation is expected to worsen due to ongoing conflicts in the Middle East.
The EU is set to increase aid for sectors affected by the energy crisis. Countries like France, Germany, and Italy are already implementing measures to support households and businesses facing high energy costs.
Dangote Refinery has raised the price of petrol by N75, bringing it to N1,275 per litre. This increase has sparked concerns regarding the impact on consumers and the economy.
President Bola Tinubu has praised Olayemi Cardoso for his leadership in implementing reforms at the Central Bank following the completion of recapitalisation. This marks a significant step towards strengthening Nigeria's financial sector.
Enugu Air has emerged as the leading contributor to the state's Internally Generated Revenue (IGR), helping Enugu achieve N130.62 billion in revenue in early 2026. Health and education sectors also received significant funding in the first quarter.
The Federal Government is promoting the commercialization of local innovations to transform research outputs into market-ready products. This initiative aims to boost the economy and support local entrepreneurs.
Odu’a Investment Company Limited is set to collaborate with the Ibadan Economic Team to boost the growth of SMEs. This partnership aims to enhance economic development in Ibadanland.
A group has praised President Bola Tinubu for his economic reforms aimed at boosting non-oil revenue. They highlighted companies like MTN and Seplat Energy as key beneficiaries of these policies.
Nigeria's Renewed Hope Agenda aims to lower borrowing costs and create a universal credit identity. This initiative is unprecedented among past administrations and seeks to enhance economic opportunities.
Africa's efforts to invest domestic capital into infrastructure are hindered by a lack of trust. This situation affects the continent's industrial development potential.
Oil prices continue to rise amid concerns over supply disruptions from the Middle East. The U.S. blockade of Iranian ports is expected to exacerbate these issues.
Nigeria is enhancing its economy by focusing on local value addition for shea nuts. This initiative is expected to strengthen the country's position in the global market.
Middlemen in Nigeria are ignoring the pricing guidelines set by the NMDPRA, leading to a rise in JET-A1 fuel prices to N2,230 per litre. An industry think-tank is urging the government to implement a stabilization plan for airlines.
The Director-General of RMRDC, Prof. Nnanyelugo Ike-Muonso, emphasizes that Nigeria's industrial transformation relies on moving from raw material exports to value addition and innovation. This shift is crucial for achieving a sustainable industrial renaissance.
The Nigerian naira showed stability against the US dollar on April 29, 2026, in both official and parallel markets. This comes amid ongoing demand pressures and a cautious trading environment.
President Bola Ahmed Tinubu commended Olayemi Cardoso for his reforms at the Central Bank of Nigeria, highlighting their positive impact on the economy. The banking recapitalisation efforts are seen as crucial for Nigeria's long-term growth.
Nigeria's non-oil exports achieved a significant milestone of $6.1 billion, expanding to 210 markets. The Nigerian Export Promotion Council highlights the potential of women-led SMEs for inclusive growth.
Stocks are fluctuating while oil prices are slightly increasing amid stalled peace talks regarding the Iran conflict. The White House is reportedly skeptical about Tehran's proposal to restore traffic through the waterway.
The UAE has announced its decision to leave OPEC, marking a significant change in the global oil alliance. This move could have implications for oil markets and production dynamics worldwide.
The World Bank has pledged $8.2 billion to enhance Africa's power supply, targeting to connect 300 million people by 2030. This initiative, known as 'Mission 300', aims to significantly improve energy access across the continent.
NLC President Joe Ajaero emphasizes that a wage of N1 million is ineffective if the naira remains unstable. He advocates for prioritizing a strong naira value over nominal pay.
Nonye Ayeni, head of the NEPC, emphasizes the importance of female entrepreneurs for Nigeria's export future. Initiatives are being introduced to support and enhance female-led businesses for economic growth.
Alex Otti emphasizes that Nigeria's economic challenges require pragmatic solutions rather than idealistic approaches. He highlights the pressing issue of high unemployment rates that need urgent attention.
Nigeria's economic transformation is gaining momentum through a partnership with China, according to Adeola Adelabu. This collaboration aims to enhance various sectors, including ports and food production.
Nigerian banks are urged to enhance their efforts in combating fraud, especially insider scams. This issue poses a significant challenge to the integrity of the banking sector.