Tag Archives: nigeria

Following the successful conclusion of the banking sector recapitalisation programme initiated in March 2024 by the Central Bank of Nigeria, the industry has raised N4.65 trillion. No doubt, this marks a significant milestone for the nation’s financial system as the exercise attracted both domestic and foreign investors, strengthened capital buffers, and reinforced regulatory confidence in the banking sector.

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The past recurring conflicts on other continents and the current developments in the Middle East are a clear reminder to the world that energy markets are deeply linked to conflict and uncertainty, as experienced across the globe today.

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We are entering a geopolitical moment that feels uncomfortably familiar. The language of universal norms and rules-based orders persists, but the behavior of major powers increasingly reflects a harder truth: strategic competition has returned in classical form.

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Between 2010 and 2026, a staggering $214 billion, approximately N300 trillion in public funds, has been reported as missing, unaccounted for, diverted, unrecovered, irregularly spent, or trapped in non-transparent fiscal structures across Nigeria’s public institutions.

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Nigeria is no longer flirting with deficit financing. As a country, it is living with it, not occasionally but structurally, routinely, almost comfortably. It became evident when the National Assembly rose to defend the proposed N25.91 trillion deficit in the N58.47 trillion 2026 budget that it did more than justify another year of borrowing.

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The moment the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, recently announced that Nigeria’s foreign reserves had inched to $49 billion as of February 5, 2026, the news was received with understandable enthusiasm.

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Recent reports in the media space highlighting threats of “naked protests” by market women across several states if the federal government fails to address the issue of hardship underscore the depth of hunger and poverty gripping the nation. No doubt, there is hardship in the country, of which Nigeria’s poverty crisis is often framed as the government’s failure, poor policies, weak institutions, corruption, and economic mismanagement.

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Nigeria’s deepening poverty crisis is no longer speculative; it is now statistically inevitable. Although the latest Consumer Price Index figures released by the National Bureau of Statistics (NBS) suggest that headline inflation is cooling and growth indicators show tentative improvement, regrettably, more Nigerians are slipping below the poverty line. Reviewing the recent projections from PwC’s Nigeria Economic Outlook 2026, it is alarming, which reveals that no fewer than two million additional Nigerians are expected to fall into poverty next year.

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Former presidential candidate, Dr. Gbenga Hashim, has reaffirmed his unwavering commitment to Nigeria, insisting that surrender is not an option despite the nation’s deepening political, economic and security challenges. Hashim made the declaration in Abuja during a North Central zonal meeting of the Gbenga Hashim Solidarity Movement, which brought together state coordinators from across the region. Addressing the gathering, Hashim …

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When President Bola Tinubu presented the N58.18 trillion 2026 Appropriation Bill to the National Assembly, unbeknownst to some, it opened with a contradiction that should unsettle even its most optimistic readers.

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