Economy

The World Bank is warning of rising debt pressures and urging export diversification and fiscal reforms. Higher global rates and servicing costs are squeezing developing economies, including Nigeria.

Governor Sanwo-Olu approves a multi-billion naira waterfront transformation for Oworonshoki, including new housing and a ferry jetty.

Reporting by Punch indicates the Central Bank of Nigeria (CBN) is warning that the ongoing bank recapitalisation drive could tilt capital-market funding even more heavily toward banks, leaving other issuers struggling to attract investor attention.

Fuel marketers say Nigeria still needs imports and multiple supply channels even as Dangote refinery output expands. The debate centres on resilience and competition, with warnings that over-reliance on one supply source could trigger shortages or monopoly risks.

Nigeria bans wood exports and revokes licences as part of an environmental crackdown aimed at slowing deforestation.

NMDPRA data cited shows petrol supply jumped to 71.5m litres/day in November as NNPCL imports rose.

Reuters, via Punch, reports Nigerian crude sellers are struggling to place December cargoes as global supply gluts and cheaper alternatives weigh on demand.

Lagos is moving to enforce planning laws more strictly, targeting unapproved use of informal public spaces while promising a more orderly urban environment.

Federal Government launches roadmap targeting a $1 trillion GDP by 2036 with investment reforms.

CPPE says Nigeria could see stability and growth in 2026 if reforms continue, but warns manufacturing remains fragile amid high costs and structural constraints.