The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has retained the Monetary Policy Rate (MPR) at 26.5 per cent following the conclusion of its 305th meeting in Abuja. The decision was announced on Tuesday by Olayemi Cardoso, Governor of the CBN, after the meeting attended by all 11 MPC members. The committee also retained all other key monetary policy parameters, signalling a cautious approach as policymakers continue to monitor inflationary pressures and broader macroeconomic conditions. According to the apex bank, the decision to keep rates unchanged was driven by persistent inflation concerns and the need to sustain…
Author: Elvis Eromosele
The Lagos Metropolitan Area Transport Authority (LAMATA) has suspended the movement of goods on all regulated public buses across Lagos, with enforcement set to begin on June 1, 2026, as part of efforts to improve passenger comfort, safety, and operational efficiency. The directive was announced in a statement issued on Tuesday by Kolawole Ojelabi, Head of Corporate Communication at LAMATA. According to the agency, the decision followed growing complaints from commuters and operational challenges caused by the increasing use of regulated buses for transporting goods and heavy loads alongside passengers. LAMATA said the practice had negatively affected passenger comfort, safety,…
Dr. Aminu Maida, Executive Vice Chairman/CEO of the Nigerian Communications Commission (NCC), has said Nigeria’s ongoing review of the National Telecommunications Policy (NTP) 2000 is a strategic national initiative capable of unlocking major economic benefits, including an additional two per cent growth in GDP, the creation of more than two million jobs, and nearly ₦2 trillion in additional tax revenue by 2030. Speaking at the NTP 2000 Review Workshop in Lagos on Wednesday, Dr Maida described the proposed policy direction as more than a routine sector review, saying it represents a national economic transformation agenda aimed at accelerating digital adoption…
Bharti Airtel is moving to strengthen its control over its African operations with a proposed $2.9 billion stake consolidation in Airtel Africa, as the group positions itself ahead of a planned mobile-money initial public offering (IPO). The plan, disclosed by Bharti Airtel founder Sunil Bharti Mittal, seeks to raise the company’s ownership in its African unit to as much as 90% through a share swap arrangement, according to reports cited by Bloomberg. The move underscores growing confidence in Airtel Africa’s long-term prospects as mobile connectivity and digital financial services continue to expand rapidly across 14 African markets. Mittal described Africa…
Facebook has launched the sixth edition of its pan-African “Made by Africa, Loved by the World” campaign, with this year’s spotlight focused on African cinema and storytelling ahead of Africa Day on May 25. The 2026 campaign, themed “Where Stories Spark Community,” features a five-part vodcast series highlighting internationally recognised actors and filmmakers from Nigeria and South Africa. According to Meta, the series will be hosted by popular African podcast platforms I Said What I Said from Nigeria and Because We Said So from South Africa. Speaking on the campaign, Kezia Anim-Addo, Communications Director for Africa, Middle East and Turkey…
The Nigerian Institute of Public Relations (NIPR), Lagos State Chapter, has announced a strategic collaboration with the Lagos Chamber of Commerce and Industry (LCCI) aimed at strengthening professional development, ethical communication and capacity building within Nigeria’s organised private sector. The framework for the partnership was established during a courtesy visit by the leadership of the NIPR Lagos Chapter, led by Samuel Ayetutu, PhD, fnipr, its Chairman, to the President and Leye Kupoluyi, Chairman of Council of LCCI. The collaboration will focus on organising specialised training programmes, workshops and professional engagements designed to enhance the communication competencies of entrepreneurs, corporate executives,…
The National Pension Commission has granted Pension Fund Administrators (PFAs) a special regulatory waiver to invest pension assets in the planned Initial Public Offering (IPO) of Dangote Petroleum Refinery & Petrochemicals. The approval, contained in a circular dated May 13, 2026, temporarily relaxes some of the investment restrictions that normally guide pension fund investments in equities. PenCom described the decision as a one-off exception granted because of the refinery’s strategic importance to Nigeria’s economy and its strong investment outlook. Under existing pension investment rules, PFAs are typically required to invest only in companies with established profitability and dividend payment history.…
By Anthony Ubani There is a difference between preparing for rain and building your house inside a flood. What the Tinubu administration has done with the 2026 budget is the latter. It has set aside ₦135.22 billion for post-election litigation. Not for roads. Not for hospitals. Not for the 20 million out-of-school children roaming our streets. But for lawsuits. For courtroom battles. For the legal chaos that follows a broken election. Let that number sit with you for a moment. ₦135.22 billion. That is not a typo. It is a confession. This allocation, buried like a shameful secret inside the…
Nigeria’s headline inflation rate is projected to rise to 16.42 per cent year-on-year in April 2026 as persistent increases in food and energy prices continue to pressure consumer costs, according to a new report by the Financial Market Dealers Association. The forecast, released on May 13, is based on data from the National Bureau of Statistics, the World Bank and the Food and Agriculture Organization. FMDA also projected month-on-month inflation at 2.78 per cent in April, lower than the 4.18 per cent recorded in March but still elevated compared to the broader disinflation trend seen since the second half of…
Nigeria is set to complete its long-delayed transition from analogue to digital broadcasting as the Federal Government has scheduled June 17, 2026, for the official nationwide launch of the Digital Switch Over (DSO) project. Mohammed Idris, the Minister of Information and National Orientation, disclosed this during a visit to the facilities of NIGCOMSAT at the Obasanjo Space Centre in Abuja. He said the DSO platform is now fully ready for commissioning, describing the milestone as a key achievement under President Bola Tinubu’s reform agenda for the broadcast industry. Idris said the completion of the digital migration marks a turning point…