IMF Projects Nigeria’s Inflation at 15.6% in 2026 as Price Pressures Remain a Concern
By GLEBM News Desk Nigeria’s average inflation rate is projected to decline to 15.6 per cent in 2026 from 23 per cent in 2025, according to a new forecast attributed to the International Monetary Fund (IMF). The projection points to a continued easing of price pressures, although households and businesses may still face significant costs…
Oil Prices Rise Above $110 as Supply Concerns Put Pressure on Energy Markets
By GLEBM News Desk International oil prices have risen above $110 per barrel amid concerns about potential disruptions to global supplies, adding uncertainty to the energy outlook for oil-producing countries and businesses that depend heavily on fuel and transportation. The latest movement in crude prices was highlighted in business news coverage on Thursday, October 22,…
Nigeria’s Cocoa Exports to US Surge to $142m as Government Pushes Local Processing
By GLEBM News Desk Nigeria’s cocoa bean exports to the United States rose to $142 million in 2025, representing a 554 per cent increase from the $21.7 million recorded in 2024, according to figures disclosed by the United States Mission in Nigeria. The figures, reported on Wednesday, October 21, highlight the growing value of Nigerian…
FCT Labour Congress Suspends Strike, Directs Teachers and Affected Workers to Resume
By GLEBM News Desk The Nigeria Labour Congress (NLC) in the Federal Capital Territory has suspended its indefinite strike and directed affected workers, particularly primary and secondary school teachers, to return to work on Wednesday, October 21, following negotiations over outstanding disputes with the territory’s administration. The decision marks a significant development in the labour…
SSANU Suspends Strike Threat After FG Releases Eight Months’ Allowance Arrears
By GLEBM News Desk The Senior Staff Association of Nigerian Universities (SSANU) has suspended its planned nationwide industrial action following the Federal Government’s release of eight months’ arrears of allowances owed to non-teaching staff in Nigerian universities, providing temporary relief in a dispute that threatened to disrupt activities across the tertiary education sector. The union’s…
Education Minister Assures Tertiary Unions of Full Implementation of 2026 Agreements
By GLEBM News Desk The Federal Government has pledged to fulfil its obligations under agreements reached with unions representing academic and non-academic staff in Nigeria’s tertiary institutions, as it seeks to restore confidence in collective bargaining and prevent further industrial disputes. Minister of Education Tunji Alausa gave the assurance in Abuja during the unveiling of…
Shell Moves to Sell Nigerian Domestic Gas Distribution Business to Vaaris Energy
By GLEBM News Desk Shell has agreed to sell its domestic gas distribution business in Nigeria to Vaaris Energy, a development that could reshape ownership and investment priorities in part of the country’s gas supply market. The proposed transaction marks another change in the structure of Shell’s Nigerian portfolio as the international energy company reviews…
Ogun Hospital Workers Begin 72-Hour Strike, Demand Stronger Security After Colleague’s Stabbing
By GLEBM News Desk Healthcare workers at the Federal Medical Centre in Abeokuta, Ogun State, have begun a 72-hour warning strike following the alleged stabbing of a medical laboratory scientist by a patient’s relative, intensifying concerns about the safety of frontline medical personnel. The industrial action was announced by a Joint Action Committee representing five…
World Bank Targets $5.79bn in Private Capital to Support Nigerian Investment and Jobs
By GLEBM News Desk The World Bank Group is seeking to mobilise up to $5.79 billion in private financing for Nigeria, with the investment programme projected to support the creation of approximately 850,000 jobs. The initiative reflects efforts to increase private-sector participation in Nigeria’s economic development, particularly as the country seeks to attract capital, expand…
World Bank Urges Nigeria to Put Job Creation at the Centre of AI and Investment Reforms
By GLEBM News Desk Nigeria has been urged to make employment generation a central objective of its technology and economic reforms as the World Bank and International Monetary Fund (IMF) warn that the rapid adoption of artificial intelligence could widen inequality and weaken opportunities for entry-level workers. The warning came as Nigeria’s delegation, led by…
