Nigerian private sector lending surged to N77.9trn in April 2025, continuing an upward trend from N76.2trn in March, according to recent Central Bank of Nigeria data. This increase signifies growing business confidence and expands economic activity, while public sector borrowing simultaneously declined. The CBN’s consistent monetary policy aims to bolster macroeconomic stability despite global challenges.
Nigeria’s Federal Government has launched Project SPROUT to introduce affordable, cleaner transport for universities. The initiative, led by the Presidential Compressed Natural Gas Initiative (PCNGI), will deploy CNG-powered buses and tricycles across campuses nationwide. This move aims to cut carbon emissions and reduce student transportation costs, aligning with the government’s broader clean energy strategy.
Nigeria has ceded its position as Africa’s largest importer of refined petroleum products to South Africa, a direct result of the Dangote Petrochemical Refinery’s increased output. In Q1 2025, Nigeria imported significantly less fuel (3.1 million tonnes) compared to South Africa’s 4.2 million tonnes, with projections showing an even wider gap for the full year. This pivotal shift in the continent’s energy landscape highlights Nigeria’s reduced reliance on imports and South Africa’s growing dependence on foreign refined products.
Nigeria’s electricity regulator, NERC, has issued new guidelines for a fully digitised and transparent framework for electricity revenue collection, effective immediately. The directive prohibits Discos from engaging unlicensed agents and mandates the use of only CBN-permitted third-party providers with verified integration and tax compliance. This move, aimed at enhancing revenue collection and aligning with a cashless economy, also sets capped commission rates across various digital payment channels.
Nigeria’s Federal Government has launched a pilot digital village in Ibwa 2, FCT, providing free internet access to bridge the nation’s significant digital divide. Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, highlighted that over 20 million Nigerians still lack access to telecommunication services, which impacts financial services, healthcare, and education. This initiative, part of a plan to deploy 7,000 telecom towers nationwide, also enables remote medical consultations and teaching in underserved communities.
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