Echotitbits – Nigeria News

Tag: Inflation

  • Cooking Gas Prices Hold Around ₦1,000/kg as Supply Improves

    Cooking Gas Prices Hold Around ₦1,000/kg as Supply Improves

    Details shared by The Punch indicate liquefied petroleum gas (LPG) prices have steadied at about ₦1,000 per kilogram in several major cities, after months of volatility.

    Industry sources linked the stability to improved supply conditions and more dependable local output, which has reduced pressure from imports.

    Marketers, however, warned that distribution costs—driven by logistics challenges and diesel prices—remain a risk factor.

    **Echotitbits take:** Stable LPG pricing is a meaningful relief for households and small businesses. The next test is infrastructure: without better distribution networks and cheaper logistics, price stability can quickly unravel.
    Source: The Punch — https://punchng.com/cooking-gas-stabilises-around-n1000-kg-as-supply-improves/ 2026-01-08

    Photo Credit: Punch Newspapers.

  • CBN projects faster growth and stronger reserves in 2026 as inflation eases

    CBN projects faster growth and stronger reserves in 2026 as inflation eases

    According to Premium Times, the CBN’s 2026 macro outlook projects faster economic expansion alongside further inflation moderation and stronger external buffers.

    The baseline assumes reform momentum continues—supporting business confidence, improving FX market credibility, and lifting investment planning if volatility stays contained.

    On prices, the outlook points to headline inflation easing further in 2026 as food and energy pressures cool and supply conditions improve, though risks remain from oil-output shocks and fiscal slippages.

    CBN also sketches a fiscal picture that still requires revenue reforms and expenditure discipline to avoid renewed macro stress.

    Vanguard reported the central bank forecast includes “a 4.49 per cent growth in GDP” and external reserves rising to “$51.04 billion.” Leadership similarly highlighted that CBN “forecasts $51bn external reserves in 2026.”

    Echotitbits take: This is cautious optimism, not a victory lap. Watch oil output, FX liquidity, and whether fiscal discipline holds—those will decide if the forecast becomes reality.

    Source: Premium Times – https://www.premiumtimesng.com/news/top-news/846528-nigerian-economy-expected-to-grow-4-49-in-2026-inflation-to-ease-cbn.html December 30, 2025
    Premium Times December 30, 2025

    Photo Credit: Premium Times

  • Economic Expert Projects 4% GDP Growth for 2026 Under Reform Gains

    Economic Expert Projects 4% GDP Growth for 2026 Under Reform Gains

    Figures cited by The Nation suggest Nigeria could record up to about 4%–4.5% GDP growth in 2026 if ongoing reforms are sustained, according to Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprises (CPPE).

    Yusuf cautioned that structural bottlenecks still constrain productivity and warned that overly optimistic revenue assumptions in the 2026 budget could weaken implementation if oil price volatility persists.

    ThisDay and Daily Post also reported the forecast and highlighted Yusuf’s emphasis that growth must translate into jobs, especially as household spending pressures remain high even with signs of moderating inflation.

    Echotitbits take: 4% growth is respectable, but Nigeria’s real test is whether reforms deliver broad employment and higher productivity. Watch quarterly GDP data for stronger contributions from manufacturing and agriculture—not just services.

    Source: ThePunch – https://punchng.com/sustained-reforms-can-push-nigerias-gdp-to-4-in-2026-expert/ 2026-01-07

    Photo Credit: ThePunch

  • Senator says subsidy removal saves Nigeria ₦10tn yearly, urges patience with reforms

    Senator says subsidy removal saves Nigeria ₦10tn yearly, urges patience with reforms

    Figures cited by Punch show Ogun West senator Solomon Adeola says removing petrol subsidy is saving Nigeria over ₦10tn annually, arguing the funds can support economic predictability and infrastructure.

    Adeola also defended tax-law implementation, insisting the versions being rolled out align  what lawmakers passed and were not altered after signing.

    The remarks reflect the government’s broader reform narrative—short-term pain for medium-term fiscal stability—though citizens continue to weigh claims against lived inflation pressures.

    Echotitbits take: The savings claim will be tested by transparency: where exactly does the money go, and can Nigerians see it in services and inflation relief? Watch for audited baselines, monthly fiscal reporting, and how palliatives/infrastructure spending track against ‘savings’ narratives.

    Source: The Punch — January 3, 2026 (https://punchng.com/subsidy-removal-saving-nigeria-over-n10tn-annually-adeola/)

    The Punch January 3, 2026

    Photo Credit: The Punch

  • CBN Forecasts 4.49% GDP Growth for 2026 Amid Lower Inflation Targets

    CBN Forecasts 4.49% GDP Growth for 2026 Amid Lower Inflation Targets

    According to The Nation, the Central Bank of Nigeria has projected an optimistic economic outlook for 2026, forecasting a 4.49% growth in Gross Domestic Product. The apex bank also anticipates that inflation will ease significantly, aiming for an average of 12.94% by the end of the year.

    The projections are based on the expected stabilization of the foreign exchange market and an increase in domestic oil production. The CBN believes that the ‘painful but necessary’ reforms of the past two years are finally yielding a foundation for sustainable non-oil sector expansion.

    This optimism is shared by the World Bank, which recently gave a ‘positive verdict on Nigeria’s economic growth trajectory,’ citing three years of unbroken growth. Furthermore, The Guardian reported that AI integration in the financial sector will ‘revolutionize risk pricing and personalized liquidity management,’ further supporting the CBN’s modernization goals.

    Echotitbits take: Achieving sub-13% inflation from the highs of 2024–2025 is an ambitious target. Watch for the CBN to maintain high interest rates well into mid-2026 to ensure this disinflationary trend isn’t disrupted by election-cycle spending or supply shocks.

    Source: The Guardian — https://guardian.ng/business-services/cbn-projects-4-49-growth-lower-inflation-in-2026-outlook/
    The Guardian January 3, 2026

    Photo Credit: The Guardian

  • CPPE: 2026 stability hinges on sustaining reforms, but manufacturing remains fragile without cost relief

    CPPE: 2026 stability hinges on sustaining reforms, but manufacturing remains fragile without cost relief

    2026-01-02 09:00:00
    In an analysis published by The Guardian, the Centre for the Promotion of Private Enterprise (CPPE) projects Nigeria could see greater stability and growth in 2026 if reforms are sustained, but cautions that manufacturing remains fragile under persistent structural constraints.

    The analysis highlights how energy, logistics and financing costs continue to weigh on factories, arguing that macro stability alone won’t lift the real sector without targeted execution that reduces operating costs.

    CPPE’s framing is that reform continuity must translate into measurable improvements in business conditions, otherwise growth remains narrow and disconnected from jobs and purchasing power.

    Validation: Vanguard echoed the execution theme, reporting that gains hinge on “effective execution” of incentives and enabling measures. AllAfrica reinforced CPPE’s structural-risk warning and quoted: “Nigeria’s manufacturing revival hinges on managing structural risks…”

    Echotitbits take: Reforms must translate into lower production costs. Watch early-2026 signals—grid stability versus self-generation expense, FX predictability for inputs and whether tax changes simplify compliance rather than create new leak points.

    Source: The Guardian — 2025-12-29 (https://guardian.ng/business-services/cppe-projects-stability-growth-in-2026-with-sustained-reforms/)
    The Guardian 2025-12-29

    Photo Credit: The Guardian

  • Ports on edge as shipping lines weigh new charges under Nigeria’s tax reforms

    Ports on edge as shipping lines weigh new charges under Nigeria’s tax reforms

    2026-01-02 06:00:00
    In a report by Punch, freight forwarding groups say tension is rising at Nigeria’s ports as shipping lines consider higher freight-related charges following the rollout of new tax reforms from January 1, 2026.

    Industry operators warn that any sudden increase in port-related costs can ripple into inflation, import prices, and cargo diversion to neighbouring countries—especially at a time when businesses are still adapting to currency and cost pressures.

    Stakeholders are calling for clarity on how the new tax implementation applies across shipping, terminal logistics, and associated services, to avoid inconsistent billing and disputes.

    The Guardian reports that “increasing tariffs at this critical time will further escalate the cost of doing business at Nigerian ports” and could encourage cargo diversion. The Sun also reports a tariff-hike angle, noting the Shippers’ Council is set to review certain charges while approving an increase for shipping lines in early 2026.

    Echotitbits take: If port charges jump abruptly, consumers pay twice—at the checkout and through slower supply chains. Watch the Nigerian Shippers’ Council and Customs for harmonised guidance, and whether freight forwarders push for phased implementation or explicit exemptions to prevent surprise billing.

    Source: The Punch — January 2, 2026 (https://punchng.com/tax-reforms-spark-tension-as-shipping-lines-plan-hikes/)
    The Punch 2026-01-02

    Photo Credit: The Punch

  • Tinubu says 2026 begins a “more robust phase” for Nigeria’s economic growth

    Tinubu says 2026 begins a “more robust phase” for Nigeria’s economic growth

    2026-01-01 07:35:00
    According to Vanguard, President Bola Tinubu said 2026 would mark the beginning of a more robust phase of economic growth as reforms mature.

    The messaging positions recent macro decisions—subsidy removal, FX changes, and fiscal tightening—as a bridge from instability toward higher growth and investor confidence.

    Household pressure points—prices, jobs and purchasing power—remain the practical scorecard for whether the optimism resonates.

    Punch also framed the outlook as Tinubu pledging a “strong economic rebound.”

    The Guardian Nigeria similarly carried the “more robust phase of economic growth” line in its reporting of the New Year message.

    Echotitbits take:

    The market will judge by outcomes: inflation direction, FX stability, real wages, and whether power/transport constraints ease. Watch Q1 indicators and whether policy consistency holds under social pressure.

    Source: Guardian — January 1, 2026 (https://guardian.ng/politics/full-text-2026-marks-start-of-more-robust-economic-growth-says-tinubu-in-new-year-message/)

    Guardian 2026-01-01

    Photo Credit: Guardian

  • NNPC stays in the black as price war pushes pump price under ₦800

    NNPC stays in the black as price war pushes pump price under ₦800

    2026-01-01 06:05:00
    According to Punch, NNPC Ltd reported ₦502bn profit after tax for November 2025, extending its profitability streak amid shifting market conditions.

    Reporting by the outlet indicates gas output and infrastructure availability supported performance, even as upstream volumes remained constrained.

    The same report linked the downstream “price war” to NNPC retail cuts that pushed PMS prices below ₦800/litre in some locations, intensifying competition.

    TheCable also reported the monthly performance, quoting the profit figure and noting output movement in November 2025.

    APA News similarly referenced the update and quoted language attributing results to improved gas production and stronger trading performance.

    Echotitbits take:

    If NNPC keeps pricing aggressively to defend market share, watch for tighter station supply cycles, margin compression across marketers, and renewed debate on how “deregulated” pricing should work when the biggest player also plays stabilizer.

    Source: The Punch — January 1, 2026 (https://punchng.com/nnpc-posts-n502bn-profit-cuts-petrol-below-n800-litre/)

    The Punch 2026-01-01

    Photo Credit: The Punch

  • 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