Tag: #Inflation
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LAGOS RESIDENTS EMBRACE NYLON RAINCOATS AS HEAVY RAINS, RISING COSTS BITE
Residents of Lagos State are increasingly opting for nylon raincoats over traditional umbrellas as persistent rainfall and rising living costs reshape consumer preferences across the state. Motorcyclists, traders, schoolchildren, public servants and commuters argue that nylon raincoats offer better protection against heavy rains while being more affordable and convenient than umbrellas. Many said raincoats provide…
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LAGOS RESIDENTS STRUGGLE AS MEAT PRICES CONTINUE TO RISE
Meat prices in Lagos are rising sharply, and many residents say the increase is putting pressure on family budgets. A NAN market survey found that beef, goat meat and frozen chicken now cost significantly more than they did last year. Some residents say they have reduced meat consumption and are switching to fish and eggs…
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NIGERIA’S INFLATION RISES TO 15.69% IN APRIL – NBS REPORT
Nigeria’s inflation rate rose slightly to 15.69% in April 2026, according to the National Bureau of Statistics (NBS). The latest report shows a marginal increase from 15.38% recorded in March. The NBS said the rise was influenced by higher prices in food, transport, accommodation services, and other household essentials. Food inflation stood at 16.06% year-on-year,…
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LAGOS RESIDENTS SAY CHEAPER FOOD DOESN’T MEAN EASIER LIVING
Many Lagos residents say even though prices of staples like garri, rice and beans have dropped slightly in recent months, low income and rising living costs are still making feeding difficult. Some residents who spoke in different parts of the state said transportation costs, stagnant salaries and expensive proteins like meat, fish, eggs, tomatoes and…
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POULTRY FARMERS CRY OUT: ‘NO MONEY, NO EGGS’ IN LAGOS
Poultry farmers in Lagos are raising alarm over lack of financing, warning it’s crippling their ability to expand production. Farmers say stocking birds now costs millions, with one producer revealing she spent nearly ₦2 million just to fill her pens — a cost many can’t sustain, leaving some pens empty. To cope, many now raise…
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ABUJA RESIDENTS CRY OUT: “ECONOMY DON TOO HARD!”
Residents of the FCT are raising alarm over worsening economic hardship, saying basic living has become increasingly difficult. Many told NAN that skyrocketing food prices and transport costs are eating deep into their incomes, forcing families to cut meals, borrow money, and adopt survival tactics like group savings. A civil servant, Grace Okoro, said her…
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TRANSPORT COSTS CHOKE NIGERIANS, IMF SOUNDS ALARM
From market stalls to motor parks, rising transport fares are quietly squeezing wallets—and the IMF says it’s getting worse. Nigeria’s cost-of-living crisis is deepening, with the International Monetary Fund warning that soaring transport costs are driving food prices through the roof. At the IMF/World Bank Spring Meetings in Washington, Abebe Selassie said higher fuel prices…
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BREWERY SECTOR BOUNCES BACK — BUT NEW COST RISKS LOOM
Nigeria’s beer industry is back in profit after years of losses — but rising costs and new taxes could spoil the party. Lagos, April 16, 2026 — Nigeria’s brewed products sector returned to profitability in 2025 after years of losses, Nigerian Breweries Plc has said, even as consumers continue to feel the pinch of inflation.…
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DANGOTE SOUNDS ALARM: GLOBAL OIL TENSIONS COULD HIT NIGERIA HARD
From fuel prices to daily survival, Africa’s richest man warns the Middle East crisis could ripple into every corner of Nigeria’s economy. Business mogul Aliko Dangote has warned that rising tensions in the Middle East could trigger serious economic shocks for Nigeria and other African countries. Speaking after meeting with Bola Ahmed Tinubu in Lagos,…
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MIDEAST WAR SHOCKWAVES: GLOBAL ECONOMIC RECOVERY UNDER THREAT – SACCI WARNS
Rising conflict in the Middle East is rattling global markets and casting doubt on economic recovery plans worldwide. The South African Chamber of Commerce and Industry has warned that ongoing conflict in the Middle East is worsening instability in global financial markets and threatening economic recovery prospects in South Africa and beyond. In a statement,…
