Victor Enengedi
1565 articles published since 04 Oct 2022
1565 articles published since 04 Oct 2022
Nigeria’s financial inclusion reached 73% in 2026, but just 30.7% were healthy as coping loans rose and 45.8% of formal-credit users faced repayment stress.
The FG and Lagos State will launch a 24/7 electricity pilot in Lagos, with a joint committee tackling supply challenges before expansion to other corridors.
Ikeja Electric blames reduced supply on a national grid allocation shortfall, pledges fair distribution as customers report more than 160 hours without power.
Nigeria’s electricity generation plunged to 2,033.66MW as 16 power plants recorded zero output, worsening blackouts and forcing businesses to rely on diesel.
Dangote Refinery halts petrol sales to major importers, prioritising independent marketers as fuel firms oppose the move and warn it could restrict imports.
See Africa's highest average monthly net salaries in 2026: Djibouti leads at $2,836, while South Africa and Seychelles follow; Nigeria now ranks 36th at $140.
CBN reports $950m in Nigerian diaspora remittances for July 2026, targeting $1bn monthly as FX reforms narrow market gaps and reserves stood at $55.60bn.
The naira exchange rate stands near ₦1,330/$, ₦1,510/€ and ₦1,767/£ as the euro weakens, while reforms, liquidity and export earnings support naira stability.
The Federal Government targets consumer credit for 2 million Nigerians in 2027 as CREDICORP backs local businesses, expands credit education and formal borrowing.
Victor Enengedi
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