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Nigeria’s finance minister said investors are pricing in President Bola Tinubu’s second term and expect continuity of the current reform agenda, warning that any reversal could trigger capital flight and pressure on the naira.
Governor Olayemi Cardoso of the Central Bank of Nigeria told the 2026 IMF/World Bank Annual Meetings that sustained macro‑economic stability and falling inflation are set to attract long‑term investment, boost production and create jobs in the country.
The naira edged stronger on Thursday, trading at N1,331.61 per dollar in the official market, while external reserves slipped to $55.09 billion and inflation eased to 14.64% in September.
Soaring costs of phones in Nigeria, fueled by inflation and a weakening naira, are leading more consumers to fix broken devices. Repair shops in Computer Village, Ikeja report a sharp increase in screen, battery and charging‑port repairs as alternatives to buying new phones.
President Bola Ahmed Tinubu welcomed the World Bank’s October 2026 Nigeria Development Update, noting that the report confirms the country’s economic reforms are delivering growth, lowering inflation and stabilising poverty. The update projects continued expansion and reduced public debt through 2028.
Arch. Peter Agada of the Young Progressives Party proposes a targeted, time‑bound fuel subsidy costing ₦3.2 trillion in its first year, aiming to reduce transport costs by up to 45 % and bring headline inflation to about 7.5 % by late 2028.
The Nigeria Labour Congress has urged the Federal Government to abandon policies it says have led to unchecked increases in petroleum product prices, warning that workers and ordinary citizens are bearing the brunt of rising living costs.
The federal government announced a plan to push inflation into single‑digit territory while the Nigerian National Petroleum Company will offer petrol at its landing cost for the next month, a move supported by President Bola Ahmed Tinubu.