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“World Bank Issues New Update On Nigeria’s Reforms And Rising Inflation!”.

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6 months ago

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The World Bank has reported that Nigeria’s ongoing economic reforms are beginning to deliver tangible results, with improved macroeconomic stability, steady growth, and declining inflation over the past year.....KINDLY READ THE FULL STORY HERE▶

However, the institution cautioned that these gains remain fragile, vulnerable to rising global energy prices, inflationary pressures, and structural weaknesses in the economy.

According to the latest Nigeria Development Update released on Tuesday, the country’s real GDP grew by 4.0% in 2025, slightly down from 4.1% in 2024, largely driven by the services sector. Key contributors include ICT, financial services, and real estate. Early indicators suggest continued growth in 2026, albeit at a slower pace due to heightened global tensions.

Inflation Eases, But Remains Risky
The report highlighted a significant drop in inflation over the past year. Headline inflation fell to 15.1% in February 2026, down from 26.3% the previous year, while food inflation eased to 12.1%, reducing pressure on household incomes.

Despite this improvement, the bank warned that inflation remains in double digits and is being aggravated by external factors such as the Middle East conflict and surging fuel prices. Petrol rose 45% between February and March 2026, while diesel nearly doubled to around N1,800 per litre, potentially reversing recent gains.

External Position And Fiscal Performance
Nigeria’s external position remained relatively strong in 2025, supported by a competitive exchange rate, resilient remittances, and sustained foreign portfolio inflows, maintaining a current account surplus of 4.8% of GDP. External reserves also improved, with net reserves at $34.8bn and gross reserves at $45.5bn, covering about 8.7 months of imports.

On fiscal matters, the World Bank noted a slight deterioration, with the fiscal deficit widening to 3.1% of GDP in 2025 due to increased state capital spending and higher federal recurrent expenditure, despite a rise in non-oil revenues.

Outlook And Recommendations
The bank projected modest growth of around 4.2% between 2026 and 2028, contingent on continued reform, macroeconomic stability, and increased investment inflows. However, it warned that growth alone may not improve living standards due to weak job creation and inflation’s impact on households.

To sustain gains, the World Bank urged deeper structural reforms, including stronger revenue mobilisation, improved fiscal governance, a better business environment, and efficient investment in infrastructure and human capital. Authorities were also advised against treating rising oil revenues as permanent spending resources, instead focusing on building buffers and targeted support for vulnerable households if inflation worsens.

The report emphasized the importance of disciplined fiscal and monetary policies, particularly ahead of elections, to maintain macroeconomic stability and translate recent reforms into inclusive growth and improved living standards for Nigerians.

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POLITICAL WARFARE: OK Movement Fires Back At Seriake Dickson, Swears Never To Surrender Party Structure!

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1 hour ago

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September 23, 2026

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The Obi-Kwankwaso Movement (OK Movement) has pushed back strongly against statements made by Nigeria Democratic Congress (NDC) National Leader, Senator Seriake Dickson, clarifying that it will not surrender its political structure to the party.....KINDLY READ THE FULL STORY HERE▶

The exchange follows Dickson’s remarks regarding the role of political support groups, where he argued that such groups should complement political parties rather than operate as rival structures. He also dismissed the OK Movement’s decision to establish a campaign council as “nonsensical.”

In a swift response, the Director-General of the OK Movement, John Ughulu, rejected the notion that the organization is an ordinary support group or an appendage of the NDC.

  • Independent Identity: Ughulu emphasized that the OK Movement is independently organized and managed, distinct from conventional political support groups.

  • Multi-Party Coalition: He explained that the movement brings together individuals from various political parties united behind the NDC presidential ticket of Peter Obi and Rabiu Kwankwaso.

  • Structure Retention: The DG maintained that the movement will preserve its national, state, local government, and ward structures, stating that political cooperation does not mean organizational subordination.

  • Right to Mobilize: Ughulu defended the creation of the movement’s campaign council, noting that it violates no party provisions and is designed to boost mobilization without usurping party authority.

Concluding his statement, Ughulu stressed that while the group is committed to working with the NDC and its candidates, its internal administration and organizational framework remain strictly under its own management.

Would you like me to generate a news graphic or headline layout for this rephrased article as well?

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“WE CANNOT FIX FUEL PRICES!” SHOCKING ADMISSION FROM TINUBU’S MINISTER STUNS NIGERIANS!.

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3 hours ago

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September 23, 2026

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The Minister of State for Petroleum Resources, Heineken Lokpobiri, has stated that the federal government does not have the power to control or fix petrol prices because the downstream sector is fully deregulated in line with global standards.....KINDLY READ THE FULL STORY HERE▶

Speaking on Channels Television’s Politics Today, Lokpobiri explained that energy costs and pricing are driven by global market dynamics, noting that economic pressures affecting Nigerians’ purchasing power are also being felt in the United States and Europe due to international challenges like the Middle East crisis.

Key highlights from his interview include:

  • Global Commodity Pricing: Lokpobiri emphasized that oil and gas are traded globally, meaning prices in Nigeria mirror those in international markets, and production volume changes will not alter global commodity pricing.

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  • No Price Control: Responding to whether the administration holds the authority to regulate pump prices, the minister clarified that the government cannot arbitrarily dictate rates without reintroducing subsidies, as the market is completely deregulated.

    WEBP

  • Defense of Subsidy Removal: Defending President Bola Tinubu’s inauguration-day decision to scrap the fuel subsidy, Lokpobiri argued that the timely move saved Nigeria from an economic collapse comparable to Venezuela’s.

    WEBP
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“THE REAL REASON I WENT TO ROME!” GODSWILL AKPABIO DROPS A HILARIOUS YET SHOCKING TRUTH BOMB!

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4 hours ago

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September 23, 2026

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Senate President Godswill Akpabio has disclosed that his recent trip to Rome, Italy, included a spiritual pilgrimage to pray for Nigeria and seek divine intervention against terrorism, banditry, and national insecurity.....KINDLY READ THE FULL STORY HERE▶

Speaking with journalists, Akpabio explained that he visited the mausoleum of Saint Padre Pio in the global center of Christianity to offer special supplications.

Key highlights from his statement include:

  • Comprehensive Prayers for Leadership: Akpabio emphasized that his prayers extended beyond President Bola Tinubu and himself to include the Vice President, the Federal Executive Council, members of the National Assembly, and all citizens.

  • Tackling National Security: He specifically focused his prayers on asking God to liberate Nigeria from the burdens of insecurity, banditry, and terrorism.

  • A Matter of Faith: Acknowledging that the spiritual journey might seem unusual to some, the Senate President stressed his firm belief in divine protection, quoting the principle that watchmen watch in vain unless God guards the house.

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