By Kofoworola Fakeye, JKNewsMedia Reporter GROSS DOMESTIC Product (GDP) growth rate in Nigeria slowed to 3.89 percent year-on-year in real terms in first quarter 2026 as the National Bureau of Statistics (NBS) released its latest GDP report on Monday. JKNewsMedia.com reports that NBS notes the figure marks a decline from 4.07 percent recorded...
By Jemimah Wellington, JKNewsMedia Correspondent NIGERIA’s PUSH for a proposed $1.25bn World Bank (WB)loan to support economic reforms, job creation, and competitiveness has reached a critical stage in the lender’s approval process. JKNewsMedia.com reports that the proposed facility, titled “Nigeria Actions for Investment and Jobs Accel...
By Ajibola Olaide, JKNewsMedia Reporter TRANSFER OF leadership at Nigeria’s Finance Ministry has been completed following a formal handover from the immediate past minister, Wale Edun to Taiwo Oyedele, with the process confirmed in an official statement. JKNewsMedia.com reports that the transition took place on Thursday evening and was disclo...
By Jemimah Wellington, JKNewsMedia Correspondent ADJUSTMENT OF bank charges has been introduced with an increase in the fee for issuing or replacing debit and credit cards from N1000 to N1500 under a revised framework by the Central Bank of Nigeria (CBN). JKNewsMedia.com reports that the change forms part of a circular released on Thursday ti...
By Jemimah Wellington, JKNewsMedia Correspondent APPROVAL FOR a $516,333,007 foreign loan has been requested from the National Assembly by President Bola Tinubu to support sections of the Sokoto Badagry superhighway project. JKNewsMedia.com reports that the request was conveyed in a letter addressed to Senate President Godswill Akpabio and r...
By JKNewsMedia REGULATORY CAPITAL requirements set by the Central Bank of Nigeria (CBN) is reported to have been exceeded by Wema Bank of Nigeria (WBN) following the successful completion of its recapitalisation process, securing its status as a national bank. JKNewsMedia.com reports that the bank, in a statement, confirmed it met and surpasse...
By Jemimah Wellington, JKNewsMedia Correspondent CLAIMS OF alleged diversion of federation earnings have been dismissed by the Federal Ministry of Finance, which said recent reports misrepresent findings contained in the latest Nigeria Development Update (NDU) by the World Bank (WB). JKNewsMedia.com reports that a government statement signed ...
By Jemimah Wellington, JKNewsMedia Correspondent NIGERIA’s ECONOMIC growth projection for 2026 has been revised downward to 4.1 percent by the World Bank, reflecting structural constraints and global uncertainties. JKNewsMedia.com reports that the revision was contained in the April 2026 Africa Economic Update titled “Making Industrial P...
By Jemimah Wellington, JKNewsMedia Correspondent PROFIT AT the Nigeria Sovereign Investment Authority (NSIA) fell sharply by 91 percent to $107.03m in the 2025 financial year from $1.24bn in 2024, reflecting a reversal of foreign exchange driven gains. JKNewsMedia.com reports that the NSIA latest financial statements showed that currency stab...
Report RISING COSTS in the domestic gas market have pushed the price of Liquefied Petroleum Gas (LPG) to N1,500 per kilogramme, marking a 14.3 percent increase from N1,300 recorded last month. Market checks by Vanguard newspaper indicated that cooking gas now sells as high as N1,500 per kilogramme across several locations, reflecting a sustai...
