Analysts warn that persistent increases in staple food costs could worsen inflation trends across Nigeria and other developing economies

S&P Global has identified rising food prices as a major contributor to escalating inflation in emerging markets, with Nigeria among the countries likely to be affected. The warning was issued on Thursday, 11 June, as analysts examined recent trends in consumer prices and their impact on economic stability.

According to S&P Global, the surge in food costs is putting additional pressure on inflation rates, especially in countries where a significant portion of household income goes towards basic groceries. While the report covers several developing economies, it highlights the heightened risk for nations like Nigeria, where food inflation has already outpaced general inflation figures this year.

The development comes at a time when many Nigerians are struggling with high prices for essential items such as rice, beans, and cooking oil. The National Bureau of Statistics (NBS) recently reported that annual inflation reached 33.7 percent in April, with food inflation climbing even higher. Economic experts have linked these trends to disruptions in global supply chains and local production challenges.

S&P Global analysts noted that unless governments implement effective policy responses, continued spikes in food prices could undermine monetary tightening measures already underway in many emerging markets. “Food inflation remains a critical concern for policymakers,” the report stated, stressing the importance of targeted interventions to protect vulnerable populations.

With the Central Bank of Nigeria (CBN) raising interest rates multiple times this year to curb inflationary pressures, stakeholders are now calling for more direct support for agriculture and food supply chains. The report suggests that coordinated fiscal and monetary policies will be necessary to prevent further erosion of purchasing power among Nigerians.

As economic conditions remain fragile, S&P Global advised authorities across emerging markets to closely monitor food price developments and prioritise policies that ensure affordable access to staple goods.

Source: https://www.premiumtimesng.com/business/business-news/886910-sp-global-flags-food-prices-as-potential-driver-of-inflation-across-emerging-markets.html

Group Managing Director Nonso Okpala says platform will connect over 1,000 subscribers to real-time leadership insights and opportunities

VFD Group has introduced a new WhatsApp channel, VFD Connect, aimed at bringing stakeholders and the general public closer to the inner workings of its diverse business ecosystem. The initiative was officially launched in Lagos on Tuesday, as part of the company’s strategy to increase transparency and provide direct updates to customers, investors, entrepreneurs, and employees.

The platform allows subscribers to receive timely information on business milestones, product launches, industry trends, leadership perspectives, and events across VFD Group’s portfolio—which spans financial services, technology, real estate, hospitality, investments, and retail technology. According to the company, the move is in response to growing demand for context and clarity around corporate decisions and opportunities within Nigeria’s fast-evolving economy.

Speaking at the launch event, Group Managing Director Nonso Okpala explained that VFD Connect was developed after identifying a shift in audience preferences. “We realised that people don’t just want announcements anymore. They want context. They want to understand the stories behind the milestones, the thinking behind the decisions, and the opportunities emerging across the ecosystem,” Okpala said.

Group Head of Marketing and Corporate Communications Adaure Achumba noted that WhatsApp was chosen due to its widespread adoption among Nigerians. “People already live on WhatsApp. Rather than asking audiences to come somewhere new, why not meet them where they already are?” Achumba stated during a media interaction.

Currently boasting over 1,000 followers since its inception, VFD Connect seeks to become a trusted destination for business intelligence and leadership commentary. The company believes this approach will bridge gaps between fragmented information sources by providing a single space for updates directly from VFD Group. While traditional social media platforms remain important for visibility, VFD says WhatsApp offers immediacy and reliability free from algorithmic interference.

Industry analysts say this reflects a broader trend as Nigerian companies seek more direct communication channels amid increasing competition for attention online. For investors and professionals seeking insight into Nigeria’s business environment—especially in Lagos as the country’s commercial nerve centre—the channel offers access to real-time updates that may impact decision-making.

The group says interested members of the public can join by scanning a barcode or following the official VFD WhatsApp Channel with notifications enabled.

Source: https://www.pulse.ng/story/beyond-the-headlines-why-vfd-wants-to-bring-you-closer-to-the-story-2026061116203541222

LP leadership finalises nominations across federal and state constituencies; party chieftains say move signals readiness for nationwide contest

The Labour Party (LP) has officially ratified a total of 1,211 candidates to contest various positions in the upcoming 2027 general elections across Nigeria. The announcement was made on Thursday, 11 June, during a national meeting held in Abuja where the party’s presidential flagbearer also presented his agenda for the next election cycle.

Party officials confirmed that the ratification process covered all federal and state legislative seats, as well as governorship slots, with selections made from different geopolitical zones. According to LP executives present at the meeting, this step is part of ongoing efforts to strengthen the party’s position ahead of what is expected to be a fiercely contested national poll.

The LP’s presidential flagbearer used the occasion to outline key priorities his administration would pursue if elected, focusing on governance reforms and economic revival. He emphasised that the party’s goal is to provide credible alternatives to the major parties currently dominating Nigerian politics, while also promising inclusive representation for all constituencies.

LP national leaders said the ratification exercise demonstrates organisational preparedness and unity within the party’s ranks. “This development shows we are not just participating but are fully ready to challenge for power at every level,” a senior party official said during the event. Opposition parties could not be immediately reached for comment regarding LP’s candidate rollout.

With this ratification, Labour Party candidates will begin mobilisation activities in their respective constituencies ahead of formal campaign season. Political analysts note that securing early consensus on candidates gives LP an opportunity to resolve internal disputes before campaign activities intensify.

Source: https://www.premiumtimesng.com/news/top-news/886908-lp-presidential-flagbearer-unveils-agenda-as-party-ratifies-1211-candidates-for-2027-elections.html