Topic Archive

#inflation

Nigeria’s BNPL Boom Could Become a Debt Trap for Africa’s Youth

The rapid expansion of Buy Now, Pay Later (BNPL) services across Nigeria and Africa is reshaping consumer finance, but without stronger regulation and financial literacy, the trend risks trapping millions of young people in unsustainable debt cycles.

95News•11/17/2025

Article

Economists Challenge FG’s Assessment of Nigeria’s Economic Performance

Economic experts are challenging the Federal Government’s claims of robust growth, arguing that persistent inflation, unemployment, and infrastructure gaps paint a more complex picture of Nigeria’s economy.

Oluwabunmi Ayeni•11/15/2025

Article

Trump Cuts Tariffs on Beef, Coffee and Other Foods as Inflation Concerns Mount

President Trump signed an executive order exempting a wide range of food imports from sweeping tariffs imposed earlier this year. The move, which covers staples such as beef, coffee, bananas, tomatoes, and orange juice, comes amid growing voter frustration over rising grocery costs and recent Democratic victories in state elections.

95News•11/15/2025

Article

FG Halts 15% Import Duty on Petrol and Diesel to Avert Price Surge

The Federal Government has suspended its earlier plan to implement a 15% import duty on petrol and diesel. The move, announced by the NMDPRA, aims to prevent fuel price hikes and maintain supply stability.

95News•11/13/2025

Article

Abuja Electricity Distribution Company (AEDC) Sacks 800 Workers Amid Power Sector Crisis

AEDC has sacked 800 workers as part of a restructuring effort amid financial strain and power supply challenges, following union negotiations that reduced the initial layoff target of 1,800.

95News•11/7/2025

Article

Vehicle Imports Drop 10% in Nigeria Amid Weak Consumer Spending and Economic Pressures

Nigeria’s vehicle imports fell nearly 10% in H1 2025 due to weak consumer spending, FX challenges, and high tariffs — continuing a multi-year decline.

95News•11/7/2025

Article

Naira Holds at ₦1,421/$ Officially, ₦1,450 on Parallel Market as FX Pressures Persist

Nigeria’s Naira continues to trade under pressure, with official and parallel market rates showing wide gaps across major currencies. As of today, the Central Bank of Nigeria (CBN) rate for the U.S. dollar stands at ₦1,421.73, while black market traders sell at around ₦1,450. The disparity reflects ongoing foreign exchange shortages and rising demand for hard currency.

95News•11/3/2025

Article

Cooking Gas Price Defies Marketers’ Projections, Holds at ₦1,200 per Kg Nationwide

Market surveys across Abuja, Lagos, and other cities show that liquefied petroleum gas (LPG) continues to retail between ₦1,200 and ₦1,500 per kg, with a 12.5kg cylinder costing as much as ₦15,000 in some areas. Marketers had earlier projected a price drop, citing improved supply, but consumers are still grappling with elevated costs.

95News•11/3/2025

Article

ADC Urges Tinubu to Scrap 15% Fuel Import Duty

The African Democratic Congress (ADC) has called on President Bola Tinubu to withdraw the 15% fuel import duty, arguing that it exacerbates economic hardship and undermines efforts to stabilize fuel prices.

95News•10/31/2025

Article

Manufacturers in Nigeria decry low government patronage as unsold goods hit N1.04 trillion

The Manufacturers Association of Nigeria (MAN) reports that unsold inventories within the manufacturing sector have ballooned, driven in part by weak consumer demand and scant government procurement of locally-made goods.

95News•10/31/2025