#nigerian economy

Federal enforcement agencies move to freeze monthly federal allocations to local governments operating under non-elected caretaker committees. The long-standing tug-of-war between state governors and the 774 local government council areas has reached a decisive climax. The federal government has officially turned off the financial tap. Petrol prices drop to ₦780 per litre in Abuja and Northern hubs as Dangote Refinery expands direct rail and barge distribution networks. After months of high transport costs inflating retail fuel prices across northern and inland states, a major shift in supply chain logistics is finally delivering relief.

Looking for extra income? Discover seven profitable side hustles Nigerians are using to earn more money in 2026, from freelancing and POS businesses to tutoring, content creation, and online selling.

Nigeria's inflation rate is 15.93%. Learn practical ways to protect your savings through budgeting, Treasury Bills, money market funds, emergency savings, and smarter investing.