21 May
Nigeria’s Central Bank has kept its main rate at 27.5%, citing nearly equal official and parallel FX rates, cooling food inflation, and rising reserves. Governor Olayemi Cardoso credits recent reforms for stronger market confidence but signals careful monitoring ahead.
20 Aug
President Bola Tinubu has given the green light to the Nigerian National Petroleum Company Limited (NNPC) to use its dividends to cover the cost of fuel subsidies. The strategy aims to ease the financial burden on the Nigerian government, with fuel subsidies already costing the nation around N68 trillion since the current administration began.
1 Jun
The Nigeria Labour Congress and the Trade Union Congress have initiated an indefinite strike on June 3rd to protest the government's refusal to increase the minimum wage and reverse the electricity tariff hike. Both unions have united in their demand for a N615,500 minimum wage, citing the high cost of living and inaction on the part of the government.