Nigeria's headline inflation rate dropped to 23.71% in April 2025, down from 24.23% recorded in March, according to the latest data from the National Bureau of Statistics (NBS). The decline was largely driven by a reduction in the prices of grains… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Nigeria's inflation eases to 23.71% in April as food prices decline By sbinsights on May 17, 2025 Nigeria's headline inflation rate dropped to 23.71% in April 2025, down from 24.23% recorded in March, according to the latest data from the National Bureau of Statistics (NBS). The decline was largely driven by a reduction in the prices of grains and other key food items. The NBS noted that the 0.52% drop in headline inflation on a month-to-month basis reflects a slowdown in the rate of price increases during the period. Year-on-year, the April inflation rate is 9.99% lower than the 33.69% recorded in April 2024. On a month-on-month basis, headline inflation stood at 1.86% in April, showing a significant decrease from the 3.90% recorded in March. Read also Nigeria's inflation eases to 23.71% in April as food prices decline FG unveils oversight committee for AU MSME Forum in Abuja Nigeria earns ECOWAS praise for driving digital reforms in mining sector BUA chairman warns hoarders as rice prices set to crash further Nigeria's EBRD membership opens door to global capital for SMEs Food inflation also saw a major drop, falling to 21.26% in April on a year-on-year basis—down by 19.27 percentage points from 40.53% in April 2024. Although the decline is partly attributed to a change in the base year, the NBS said prices of food items such as maize, rice, wheat, okro, and various beans contributed to the lower rate. Month-on-month food inflation fell slightly to 2.06% in April from 2.18% in March, while the 12-month average annual food inflation rate stood at 31.43%, down from 32.74% in April 2024. Core inflation—which excludes volatile agricultural produce and energy—also declined. It stood at 23.39% year-on-year in April, compared to 26.84% in April 2024. Month-on-month, the core inflation rate was 1.34%, a notable drop from 3.73% in March. Despite the slowdown in monthly inflation, the average 12-month inflation rate for all items rose slightly to 24.91% as of April 2025, up from 22.84% recorded in April 2024.

SMALL BUSINESS INSIGHTS © 2025. Manage your email settings or unsubscribe. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110

The Federal Government has inaugurated an oversight committee to ensure the successful hosting of the 4th African Union MSME Forum, scheduled to take place in Abuja from June 23 to 27, 2025. Members of the committee include Minister of Industry, … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader FG unveils oversight committee for AU MSME Forum in Abuja By sbinsights on May 17, 2025 The Federal Government has inaugurated an oversight committee to ensure the successful hosting of the 4th African Union MSME Forum, scheduled to take place in Abuja from June 23 to 27, 2025. Members of the committee include Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole; Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani; Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musawa; and Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose. The announcement was made through a letter signed by the Deputy Chief of Staff to the President and Chairman of the Committee, Senator Ibrahim Hadejia, on behalf of the Vice President, Senator Kashim Shettima. Read also FG unveils oversight committee for AU MSME Forum in Abuja Nigeria earns ECOWAS praise for driving digital reforms in mining sector BUA chairman warns hoarders as rice prices set to crash further Nigeria's EBRD membership opens door to global capital for SMEs How to set career goals that actually drive results Other appointees include Minister of State for Industry, Trade and Investment, John Owan Enoh; FIRS Chairman, Zach Adedeji; SMEDAN Director General, Dr. Charles Odii; NEPC Executive Director, Mrs. Nonye Ayeni; NIPC Executive Secretary, Aisha Rimi; NEXIM Bank MD/CEO, Abba Bello; NACCIMA President, Dele Oye; and Deputy Director, Ministry of Foreign Affairs (African Union Division), Anthony Alonwu. The Forum, set to hold at the Abuja Continental Hotel, serves as a key platform for micro, small, and medium-sized enterprises across Africa to connect, share insights, and explore growth opportunities. The 2025 edition will focus on the theme "Building resilient MSMEs through digital innovation, market access and affordable financing for Africa."

SMALL BUSINESS INSIGHTS © 2025. Manage your email settings or unsubscribe. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110

Nigeria's push for digital transformation in the extractive industry has drawn commendation from ECOWAS officials, who hailed the country's leadership and innovation under President Bola Ahmed Tinubu and the Minister of Solid Minerals Development, D… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Nigeria earns ECOWAS praise for driving digital reforms in mining sector By Busola Bamidele on May 17, 2025 Nigeria's push for digital transformation in the extractive industry has drawn commendation from ECOWAS officials, who hailed the country's leadership and innovation under President Bola Ahmed Tinubu and the Minister of Solid Minerals Development, Dr. Dele Alake. Dr. Alake reaffirmed the federal government's commitment to regional integration and digital reforms, stating that Nigeria is fully aligned with ECOWAS' vision for extractive governance built on cooperation, harmonisation, and integration. ECOWAS representative Mr. William Badieo applauded Nigeria's strides and revealed plans for a Geo-Extractive Observatory and Regional Key Distance System to interlink national cadastre systems. Read also: Nigeria earns ECOWAS praise for driving digital reforms in mining sector BUA chairman warns hoarders as rice prices set to crash further Nigeria's EBRD membership opens door to global capital for SMEs How to set career goals that actually drive results Italy's inflation steady at 1.9% despite price surge Impressed by Nigeria's eMC+ platform, Chief Geologist Mr. Madu Hassan Fika, representing both the Ministry of Petroleum and ECOWAS, described the system as a "sophisticated digital platform" that has "completely changed" his perception of the country's digital mining capabilities. The entire delegation echoed similar praise, citing Nigeria's progress as a model for regional extractive sector reforms.

SMALL BUSINESS INSIGHTS © 2025. Manage your email settings or unsubscribe. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110