Economic strain: Inflation surges above 30% in Abuja, 10 states –

The National Bureau of Statistics released its Consumer Price Index report for April 2025, revealing a slight easing in Nigeria’s inflation rate compared to previous months and the same period last year. The headline inflation rate moderated to 23.71 per cent year-on-year, marking a decline from 24.23 per cent recorded in March 2025 and a sharp reduction from 33.69 per cent in April 2024. On a month-on-month basis, the inflation rate dropped sharply to 1.86 per cent in April 2025, down from 3.90 per cent in March. This indicates a slower rate of price increases across consumer goods and services during the month……(Read More)

Nestle, Honeywell lift equity market to N257bn gain –

The Nigerian Exchange gained N257bn in market capitalisation on Thursday, as investors showed renewed interest in consumer goods and industrial stocks, led by Nestle Nigeria, Honeywell Flour Mill, and Beta Glass. At the close of trading, the market capitalisation rose to N68.8tn, up from N68.54tn recorded at the previous session. Similarly, the All-Share Index appreciated by 408.31 points, representing a 0.37 per cent increase to close at 109,467.64 basis points. The day’s performance was driven by gains in blue-chip stocks….(Read More)

$200m investments signed at 12th Africa CEO forum –

Investors at the 12th Africa CEO Forum have signed agreements to invest $200m in various sectors in the continent. The Forum, which held in Abidjan, Côte d’Ivoire, saw the presence of more than 2,800 business leaders, investors, and public decision-makers from 90 countries under the theme: “Can a New Public-Private Deal Reshape the Continent’s Future?” A statement stated that participants explored ways to strengthen collaboration between the public and private sectors to boost Africa’s economic growth. “Discussions centred on three key pillars: Improving economic governance, optimising public policy and accelerating the implementation of the African Continental Free Trade Area (AfCFTA)…….(Read More)

Nigeria Positions To Tap $600bn Annual Upstream Investment In Africa’s Oil Sector – NUPRC –

Nigeria has repositioned to tap into the projected $600 billion annual upstream investment required to grow Africa’s oil sector, estimated to hit about $3 trillion by 2030. The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, who made this known, also disclosed plans to raise the active oil rigs in Nigeria’s petroleum sector from the current 36 to 50 by the end of 2025. Speaking at the ongoing 2025 Africa Energies Summit (AES) in London, United Kingdom, Komolafe noted that from eight oil rigs in 2021, President Bola Tinubu’s recent reforms have significantly removed the bottlenecks and enhanced investment in the country’s oil sector……….(Read More)

Inflation Rate Eases To 23.71% In April On Food Price Decline – NBS –

 Nigeria’s headline inflation rate eased for the first time in months, dropping to 23.71 per cent in April 2025 from 24.23 per cent recorded in March 2025, according to the latest report released by the National Bureau of Statistics (NBS). The 0.52 percentage point decline marks a modest relief in the country’s ongoing battle with inflation and is the first major indicator released under the recently rebased CPI, which now uses 2024 as the new base year, with 2023 as the reference period for expenditure weights. On a month-on-month basis, headline inflation slowed significantly to 1.86 per cent in April from 3.90 per cent in March — a 2.04 percentage point drop that suggests a deceleration in the pace of price increases, especially in key sectors……(Read More)

JPMorgan Chase CEO Jamie Dimon says recession is still on the table for U.S. –

Wall Street titan Jamie Dimon said Thursday that a recession is still a serious possibility for the United States, even after the recent rollback of tariffs on China. “If there’s a recession, I don’t know how big it will be or how long it will last. Hopefully we’ll avoid it, but I wouldn’t take it off the table at this point,” the JPMorgan Chase CEO said in an interview with Bloomberg Television. Specifically, Dimon said he would defer to his bank’s economists, who put recession odds at close to a toss-up. Michael Feroli, the firm’s chief U.S. economist, said in a note to clients on Tuesday that the recession outlook is “still elevated, but now below 50%.”…….(Read More)