Tag: 2026 forecast

  • Lagos Experts Warn of Erratic Weather and Heatwaves in 2026

    Lagos Experts Warn of Erratic Weather and Heatwaves in 2026

    In an update published by The Punch, environmental scientists and health experts have warned that Nigeria is entering a period of extreme climate unpredictability. Unusual rainfall patterns observed in Lagos and Ogun states during January and early February are being cited as clear indicators that traditional seasonal cycles have been disrupted by global warming.

    Mr. Ahoton James, Director of Environmental Service at the Lagos State Primary Healthcare Board, noted that the absence of a traditional harmattan season in late 2025 and early 2026 is a significant red flag. The experts predict that the country may face intense heatwaves and unseasonable flooding, which could severely impact food security and public health.

    The changing climate is already affecting agricultural planning, as farmers who rely on predictable rain cycles are finding it difficult to time their planting. This volatility is expected to persist throughout the year, necessitating a shift in national disaster management strategies.

    Validating reports from Vanguard and Daily Trust emphasize these concerns, with Vanguard quoting a meteorologist who said, “We are seeing the 2026 weather calendar being rewritten by carbon footprints,” while Daily Trust noted that “Northern states must prepare for record-breaking temperatures this summer.”

    Echotitbits take: The failure of the harmattan and early rains in the south are not just anomalies; they are economic risks. Expect a spike in cooling costs and potential volatility in food prices if the heatwaves affect the early planting season.

    Source: The Cable – https://www.thecable.ng/heat-like-hell-fire-strange-weather-angry-water-what-nigerians-call-climate-change/, February 8, 2026

    Photo credit: The Cable

  • CBN projects FX reserves could hit $51bn by 2026

    CBN projects FX reserves could hit $51bn by 2026

    2025-12-31 08:21:00

    Figures cited by PUNCH show the Central Bank of Nigeria expects external reserves to climb to about $51.04bn in 2026, up from a projected $45bn in 2025, based on assumptions about FX-market conditions and inflows.

    The forecast is tied to the CBN’s 2026 macro outlook, leaning on expectations of reduced pressure in the FX market, improved export earnings, and higher remittance inflows.

    CBN also points to refining capacity and broader reforms as potential tailwinds that reduce import pressure and support reserve accumulation over time.

    Validation: Channels Television said “The external reserves are projected at $51.04bn in 2026, compared with $45.01bn in 2025.” and The Guardian reported “external reserves… to rise to US$51.04 billion.”

    Echotitbits take: This projection is optimistic—and markets will judge credibility by liquidity and transparency. Watch the drivers: oil receipts, diaspora remittances, and whether FX spreads truly narrow across official and parallel windows.

    Source: The Punch — 31 December 2025 (https://punchng.com/fx-reserves-to-hit-51bn-by-2026-cbn/)

    The Punch 31 December 2025

    Photo Credit: The Punch