Nigeria News (Standard)
Analysts Project Nigeria’s Inflation Rate to Drop to 15.8% in June Amid Improved Food Supply
Cowry Asset Management cites stable forex and softer oil prices as key factors, but warns of persistent risks
Cowry Asset Management cites stable forex and softer oil prices as key factors, but warns of persistent risks
Nigeria’s headline inflation rate is expected to ease slightly to 15.8 percent in June, according to a projection by Cowry Asset Management Limited released in Lagos on Saturday. The forecast comes as analysts point to improved food supply conditions, relative stability in the foreign exchange market, and softer global crude oil prices as contributing factors supporting a gradual reduction in price pressures nationwide.
Cowry Asset Management, a Lagos-based financial advisory firm, issued its outlook following the latest Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS). The NBS data showed that annual inflation rose to 15.93 percent in May from 15.69 percent recorded in April—a third consecutive monthly increase. According to the firm, renewed supply-side pressures linked to global commodity disruptions and local cost drivers were responsible for the recent uptick.
Despite the projected moderation for June, analysts at Cowry Asset Management cautioned that underlying risks remain significant. The firm highlighted elevated core inflation levels, high transportation costs, ongoing volatility in the naira exchange rate, and weather-related disruptions affecting agriculture as factors that could limit further declines in inflation. “While food supply has improved and foreign exchange conditions have remained relatively stable, there are still pressures from transport costs and potential shocks from the global market,” Cowry Asset Management noted in its statement.
The inflation outlook carries critical implications for households and businesses across Nigeria’s six geopolitical zones, especially as rising prices continue to erode purchasing power for millions of families. Analysts say sustained efforts to boost agricultural output and maintain forex stability will be crucial if Nigeria is to reverse the trend of rising living costs.
As stakeholders await the June CPI figures from NBS later this month, attention will focus on how government policy responses—including interventions aimed at curbing transportation expenses and supporting farmers—may help consolidate any gains recorded in price stability.
Nigeria News (Standard)
French Institute Urges Increased Support for Live Music, Emerging Artists at Abuja Event
Cultural stakeholders gather in FCT as French Institute marks World Music Day, calls for policy backing and investment
Cultural stakeholders gather in FCT as French Institute marks World Music Day, calls for policy backing and investment
Music lovers, cultural enthusiasts, and performers converged on Team Compound in Abuja on Saturday as the French Institute marked World Music Day with a call for stronger backing of live music and upcoming artistes. The event, which drew a diverse crowd from across the Federal Capital Territory, highlighted the challenges facing Nigeria’s creative sector and underscored the need for sustained support.
The celebration featured live performances from both established acts and emerging talents, providing a platform for artistes to showcase their craft. Organisers said the event aimed not only to entertain but also to raise awareness about the pressing issues confronting musicians and the broader entertainment industry in Nigeria. According to participants, limited access to funding, inadequate venues, and lack of institutional support continue to hinder growth in live music.
Stakeholders present at the occasion stressed that increased investment from both government and private sector is essential to nurture new talent and preserve Nigeria’s rich musical heritage. The French Institute noted that collaborative efforts between cultural bodies, policymakers, and investors would create more opportunities for young artistes. “Supporting live music is not just about entertainment; it is about sustaining our cultural identity and creating jobs,” an organiser said during the event.
No government representative was immediately available for comment on proposed policy changes or direct support for emerging artistes. However, industry observers say targeted interventions—such as grants, infrastructure upgrades, and promotion of local content—could help address existing gaps. The opposition could not be immediately reached for their reaction.
As momentum builds around initiatives like World Music Day, many in Nigeria’s creative community are hopeful that sustained advocacy will lead to concrete reforms. Stakeholders say improved support structures could boost employment, enhance international recognition of Nigerian music, and strengthen cultural ties within West Africa.
Nigeria News (Standard)
Soludo Moves to Regulate Rent Fees in Anambra Amid Pushback Over ₦12,000 Cement Price
Landlords cite soaring building costs as government targets agents and estate operators for alleged exploitation of tenants
Landlords cite soaring building costs as government targets agents and estate operators for alleged exploitation of tenants
Governor Chukwuma Soludo of Anambra State has announced plans to clamp down on excessive housing charges, warning house agents and estate operators against collecting illegal fees from tenants beyond agreed rent payments. The move, revealed on Friday, has drawn mixed reactions in Anambra, with landlords arguing that rising construction costs make it unfair for government to influence rental prices.
The state government is considering reforms that may regulate agency charges, require the registration of real estate agents, and provide new channels for tenants to report exploitation. Governor Soludo stated that his administration was responding to reports of tenants being forced to pay multiple fees in addition to their rent. “I learnt that after tenants pay their house rent, agents still collect additional fees from them. House agents in Anambra State should get ready… we are coming for them,” Soludo said during an address.
However, some landlords and property developers have voiced strong opposition, highlighting the impact of inflation on construction materials. A Nigerian man went viral online after saying, “I can’t be buying a bag of cement for ₦12,000 and you tell me how much I will rent my property.” He added that unless government introduces mass housing schemes or subsidises building materials, efforts to regulate private rents are unsustainable. “If govt wants to crash rent, they should roll out mass housing for low income earners and rent will crash,” he argued on social media.
For years, residents in major cities like Awka, Onitsha and Nnewi have faced high accommodation costs due to agency fees, agreement charges and legal deposits often rivaling or exceeding annual rent. Some tenants allege that these extra charges are now a significant barrier to securing affordable housing. The planned reforms are expected to focus more on regulating the activities of agents and real estate practitioners than imposing direct controls on landlords’ rental prices.
Soludo’s intervention is part of a wider push by the Anambra government against what it describes as exploitative practices in critical sectors. Over the past two years, authorities have increased efforts to bring transparency into property transactions and protect residents from predatory practices. While officials say new regulations will restore order in the housing market, stakeholders warn that without addressing fundamental supply issues—such as construction inflation—the cost burden may persist.
Nigeria News (Standard)
Cape Verde Coach Bubista Hails Team’s Historic World Cup Progress
Manager credits players’ ambition after Cape Verde secures maiden FIFA World Cup qualification in dramatic fashion
Manager credits players’ ambition after Cape Verde secures maiden FIFA World Cup qualification in dramatic fashion
Cape Verde national team coach, Bubista, has commended his players for their determination and belief after the country reached a new milestone by qualifying for the FIFA World Cup for the first time. The achievement was confirmed on Monday following a decisive match that sealed their historic spot at the global football tournament.
The crucial victory, which took place at home in Praia, saw Cape Verde overcome their final group stage opponents to clinch one of Africa’s coveted World Cup slots. The result sparked celebrations across the island nation as fans and football stakeholders hailed the team’s achievement.
This qualification marks a significant leap for Cape Verdean football, coming after years of steady progress on the continental stage, including previous Africa Cup of Nations (AFCON) appearances. For many Nigerians and other African observers, Cape Verde’s rise under Bubista is seen as proof of what smaller nations can achieve with proper planning and investment in youth development.
Coach Bubista praised his squad’s mentality after the match, stating that their success was a product of hard work and big dreams. “We came to dream big,” he said, while also acknowledging the support from the country’s football federation and fans. He highlighted how this achievement would inspire future generations and strengthen football development on the islands.
With their place now secured in the upcoming FIFA World Cup, Cape Verde is expected to intensify preparations for their debut appearance on world football’s biggest stage. The nation joins other African qualifiers and will be looking to represent West Africa with pride when the tournament kicks off next year.
French Institute Urges Increased Support for Live Music, Emerging Artists at Abuja Event
Soludo Moves to Regulate Rent Fees in Anambra Amid Pushback Over ₦12,000 Cement Price
Cape Verde Coach Bubista Hails Team’s Historic World Cup Progress
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