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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.
The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, is approaching ₦2,000 per kilogram in several parts of Nigeria as households prepare for the 2026 Eid-el-Kabir celebrations.
The Seme Area Command of the Nigeria Customs Service (NCS) has generated ₦9.798 billion in revenue between March and May 2026, marking a sharp increase compared to the ₦2.188 billion collected in the same period of 2025.
Nigeria’s economy grew by 3.89% in real terms in Q1 2026, according to the National Bureau of Statistics (NBS), with expansion driven mainly by agriculture, telecommunications, financial services, construction, and trade.
The Nigerian Exchange (NGX) opened the week on a bullish note as investor confidence lifted equities by 0.57%, driven by gains in Airtel Africa Plc and 34 other stocks.