Connect with us

Business

Nigeria’s Inflation Rate Rises to 15.69% in April 2026 – NBS

info

Published

on

Images 6.jpeg

BY NKECHI NAECHE-ESEZOBOR—The National Bureau of Statistics (NBS), has said that Nigeria’s headline inflation rate increased to 15.69% in April 2026, when compared to 15.38% recorded in March.

This was contained its Consumer Price Index (CPI) Report April 2026.

According to NBS report Consumer costs continued to increase across key sectors of the economy, even though the pace of monthly price growth slowed and remained lower than levels recorded in the same period last year.

The NBS noted that the year-on-year movement reflects ongoing pressure from elevated food costs, higher energy expenses, and continued disruptions in supply chains.

It noted that on a month-on-month basis, the Headline inflation rate in April 2026 was 2.13%, which was 2.05% lower than the rate recorded in March 2026 (4.18%).

“This means that in April 2026, the rate of increase in the average price level was lower than the rate of increase in the average price level in March 2026.”

Urban inflation was recorded at 15.40 percent, while rural inflation stood higher at 16.36 percent, with food prices rising by 16.06 percent year-on-year, though lower than 24.68 percent in April 2025 due to changes in the cost of major staples.

Core inflation, which excludes volatile food items and energy costs, stood at 15.86 percent in April 2026, significantly lower than 26.05 percent recorded in the corresponding period of the previous year.

The post Nigeria’s Inflation Rate Rises to 15.69% in April 2026 – NBS appeared first on Business Today NG.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

NIA Commends NAICOM on Recapitalization Exercise

info

Published

on

By

The Nigerian Insurers Association (NIA) has commended the National Insurance Commission (NAICOM) for its fair, transparent and structured implementation of the minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

In an official statement released today, the Chairman of the NIA, Mrs. Ebelechukwu Nwachukwu, praised NAICOM’s structured approach — highlighting that clear regulatory guidelines, systematic verification, defined timelines, and rigorous supervisory oversight provided operators with a credible framework to navigate the recapitalisation exercise successfully.

Mrs. Nwachukwu noted that the exercise underscores NAICOM’s commitment to regulatory fairness and orderly market development, marking a pivotal milestone in bolstering the financial capacity, stability, and global competitiveness of the Nigerian insurance sector.

The post NIA Commends NAICOM on Recapitalization Exercise appeared first on Business Today NG.

Continue Reading

Business

Nigeria, Canada expand air deal, facilitate direct flights

info

Published

on

By

WhatsApp Image 2026 08 06 at 20.58.59.jpeg

MTN ADVERT

Nigeria and Canada have expanded their bilateral air transport framework, paving the way for scheduled direct air services between the two countries and creating new opportunities for passenger and cargo operations.

The agreement, signed on Thursday in Abuja, provides for multiple airlines from both countries to operate scheduled services and establishes capacity for passenger and cargo flights.

It also provides for up to 14 weekly passenger flights and 10 weekly all-cargo flights for designated airlines from each country.

The agreement is expected to improve air connectivity between Nigeria and Canada while supporting trade, tourism, education, investment and stronger people-to-people relations.

The Minister of Aviation and Aerospace Development, Festus Keyamo, was represented at the signing by the Director of Air Transport Management in the ministry, Mohammed Ahmed Tijjani.

PT WHATSAPP CHANNEL

Mr Tijjani signed the agreement with Canada’s Chief Air Negotiator for Global Affairs Canada, Shendra Melia, at the Canadian High Commission in Abuja.

The signing followed a technical review session in which officials from both countries examined the existing bilateral air services framework and agreed to expand it.

Nigeria, Canada expand air deal, pave way for direct flights
Nigeria, Canada expand air deal, pave way for direct flights

Shift towards direct connectivity

The new arrangement represents a significant expansion of the aviation relationship between Nigeria and Canada.

The two countries first negotiated an air transport agreement in 2014, but the framework was initially limited to code-sharing arrangements rather than direct scheduled flights.

The agreement was formally signed in March 2025, providing a framework for airlines to market services operated by partner carriers.

The latest expansion changes that framework by allowing designated airlines from both countries to operate scheduled services directly between Nigeria and Canada.

The agreement, therefore, provides the legal basis for airlines to pursue direct operations, although the signing itself does not mean such flights will begin immediately.

Airlines would still need to be designated by their respective governments and meet applicable regulatory, operational and commercial requirements before commencing services.

More opportunities for passengers and cargo

For travellers, direct scheduled services could reduce the need for connecting flights through third countries and make journeys between Nigeria and Canada more convenient.

The development could be particularly significant for Nigerians travelling to Canada for education, business, tourism and family visits, as well as Canadians travelling to Nigeria for business and other purposes.

As of 31 March 2026, more than 25,000 Nigerians held valid Canadian study permits, according to the information provided by the Federal Government, highlighting the importance of the education link between the two countries.

The agreement also provides a greater scope for cargo operations.

Under the expanded framework, designated airlines can operate up to 10 weekly all-cargo services, while fifth-freedom traffic rights have been granted for cargo operations.

Fifth-freedom rights allow an airline to carry traffic between two foreign countries as part of a service that originates from or terminates in the airline’s home country.

The provision could create additional options for moving goods through the two countries and strengthen commercial links between Nigerian and Canadian businesses.

Wider economic ties

The expanded aviation agreement comes as Nigeria and Canada seek to deepen economic relations beyond air travel.

Improved connectivity can support tourism, facilitate business travel, encourage investment and make it easier for people and goods to move between the two markets.

The Nigerian delegation at the signing included the Director of Air Transport Management, Mr Tijjani; the Director of Legal Services, Jummai Yahaya; and the Director of Air Transport Regulation at the Nigeria Civil Aviation Authority, Olayinka Babaoye-Iriobe.

The Canadian delegation was led by Ms Melia and included officials from Global Affairs Canada and Transport Canada.

READ ALSO: FG approves New York, Dubai, Canada routes for United Nigeria Airlines — Keyamo

The expanded framework gives airlines from both countries greater room to compete, as each country can designate multiple carriers rather than restricting scheduled operations to a single airline.

For Nigeria, the development also fits into the Federal Government’s wider effort to expand international air connectivity and secure new routes that can support tourism, trade and investment.

The agreement now provides the framework for airlines on both sides to pursue direct scheduled services, potentially bringing an end to years of reliance on connecting routes for travellers moving between Nigeria and Canada.


Discover more from Premium Times Nigeria

Subscribe to get the latest posts sent to your email.

Continue Reading

Trending