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...
By Ajibola Olaide, JKNewsMedia Reporter FRESH PRICING shifts have emerged in Nigeria’s downstream oil sector as Dangote Petroleum Refinery & Petrochemicals (DRP) announced a reduction in its petrol loading cost, signalling potential relief across the fuel distribution chain. JKNewsMedia.com reports that the refinery slashed its ex-gantry ...
By Bunmi Aduloju, TheCable PETROL PRICES in Nigeria have further risen to record levels, stoking fears of inflation as the conflict in the Middle East rages on. On Monday, TheCable observed a broad-based uptick in petrol prices, with increases of up to N100 per litre in several areas. In Lagos, prices at MRS filling stations […]
By Jemimah Wellington, JKNewsMedia Correspondent EFFORTS TO reduce inflation to a single digit range have been outlined by the Central Bank of Nigeria (CBN) as part of a medium-term objective tied to a transition toward an inflation targeting monetary policy framework. JKNewsMedia.com reports that the position was disclosed in a statement iss...
By Salient Times Online ….20states fail to disclose any council financial records despite ongoing allocations …Ekiti, Cross River emerge as benchmarks for grassroots accountability A CIVIC technology organisation, BudgIT, has raised fresh concerns over transparency in Nigeria’s local government system, revea ling that only 10 states currently...
By Joke Kujenya FRESH AMENDMENTS to the Bank Verification Number (BVN) framework will take effect from 1st May 2026, introducing new rules that affect users of the Nigerian banking system both locally and in the diaspora. JKNewsMedia.com reports that the Central Bank of Nigeria (CBN) in a circulated statement and signed by its governor, Olaye...
By Jemimah Wellington, JKNewsMedia Correspondent INTEREST RATES have been reduced by 50 basis points to 26.50 percent from 27 percent after the Monetary Policy Committee of the Central Bank of Nigeria (CBN) voted unanimously at its 304th meeting in Abuja. JKNewsMedia.com reports that CBN Governor Olayemi Cardoso announced the decision at a ne...
By Jemimah Wellington, JKNewsMedia Correspondent NIGERIA’s EXTERNAL reserves rose to about $49bn as of February 5, 2026, Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso told members of the National Economic Council Conference (NECC) in Abuja, describing the figure as a signal of improved confidence in the country’s economy. JKNe...
