Tag: economics

Business

Food Prices Fall in Three Nigerian States, but Inflation Remains High Elsewhere

Food Prices Fall in Three Nigerian States, but Inflation Remains High Elsewhere By Utelnova News Desk Food prices recorded significant monthly declines in Adamawa, Kano and Bauchi in September 2026, while residents in other parts of Nigeria continued to face rising food costs, according to the latest Consumer Price Index report from the National Bureau of Statistics (NBS). The report showed that Adamawa recorded the … Continue reading Food Prices Fall in Three Nigerian States, but Inflation Remains High Elsewhere

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NLC Demands Immediate Minimum Wage Talks as FG Insists on June 2027 Review

The Nigeria Labour Congress (NLC) has renewed pressure on the Federal Government to begin negotiations for a new national minimum wage, warning that rising living costs have continued to weaken the purchasing power of Nigerian workers. The dispute centres on when negotiations should begin. While the government insists that the current ₦70,000 minimum wage is due for review on June 1, 2027, the labour union … Continue reading NLC Demands Immediate Minimum Wage Talks as FG Insists on June 2027 Review

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Tinubu Says Reforms Are Working as World Bank Projects 4.4% Growth for Nigeria

President Bola Tinubu has welcomed the World Bank’s latest economic report, saying his administration’s reforms are beginning to deliver results as the bank projects Nigeria’s economy to grow by an average of 4.4 per cent annually between 2026 and 2028. Tinubu made his position known following the release of the World Bank’s October 2026 Nigeria Development Update, which examined the country’s economic performance, government revenues … Continue reading Tinubu Says Reforms Are Working as World Bank Projects 4.4% Growth for Nigeria

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Business

5 Things Nigerians Should Know About the Latest Cost-of-Living Changes

Nigeria’s cost of living remains an important concern for households, workers and businesses, even as the country’s headline inflation rate continues to moderate. The National Bureau of Statistics (NBS) reported that headline inflation fell slightly from 15.43% in July 2026 to 15.39% in August. However, food inflation remained considerably higher at 19.57%. Recent increases in petrol prices have also created additional pressure on transportation and … Continue reading 5 Things Nigerians Should Know About the Latest Cost-of-Living Changes

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Concerns as Nigeria’s public debt hits N166trn after increasing by N7trn in 3 months

Nigeria’s total public debt has risen to N166.79 trillion, increasing by N7.44 trillion between March and June 2026 and raising fresh concerns over the country’s growing debt burden. The latest figure was contained in a report released by the Debt Management Office (DMO) on Friday. The DMO said the debt stock rose from N159.35 trillion at the end of the first quarter of 2026 to … Continue reading Concerns as Nigeria’s public debt hits N166trn after increasing by N7trn in 3 months

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