The African Export‑Import Bank (Afreximbank) has reported a 25 percent increase in net income for the first quarter of 2026, driven by strong lending activities, disciplined balance sheet management, and improved profitability.
Nigeria imported about 7,700 metric tonnes of sorbitol valued at N8 billion ($6.1 million) in 2023, underscoring the country’s reliance on foreign industrial sweeteners, according to a new report by the Nigeria Cassava Investment Accelerator (NCIA).
Nigeria has cancelled $717.7 million in undisbursed World Bank funding under the Power Sector Recovery Performance-Based Operation (PSRO), a programme designed to restore financial sustainability in the electricity sector.
Nigeria’s aviation industry recorded its first contraction in nearly two years in Q1 2026, with air transport output plunging by 47.3% year-on-year in nominal terms, according to the National Bureau of Statistics (NBS).
The manufacturing sector contributed 9.57% to real GDP in Q1 2026, according to the National Bureau of Statistics (NBS), marking a rebound from the 7.40% share in Q4 2025.
Private sector credit dropped sharply by over ₦14 trillion in just two months, falling to ₦80.59 trillion in April 2026 from a peak of ₦94.61 trillion in February 2026, despite the Central Bank of Nigeria’s (CBN) decision to ease monetary policy.
