Nigeria’s inflation to hold near 15.9% on stable naira

Helloooo bestie. Good morning and how do you do this fine morning? I hope you slept like royalty, though, and your dreams came with soft life energy too.

Now that you are up refreshed and not feeling like you spent the whole night fighting invisible battles in your dreams, welcome to today’s Morning Rundown, your quick dose of gist before emails start flying in, deadlines begin chasing everybody, and reality fully resumes for the day.

This morning, we gist over a cup of coffee, so grab yours and let’s dive in.

Nigeria’s inflation rate is expected to pause at around 15.9 per cent in June, offering tentative signs that price pressures may be easing after months of increases, although the cost of living remains painfully high and economists say a sustained slowdown will depend on continued exchange rate stability, lower food prices, and disciplined economic policies.

The Federal Government has offered Shell an unprecedented tax incentive to unlock its long-delayed $20 billion Bonga Southwest Aparo deepwater project, signalling a bold shift in Nigeria’s strategy to attract fresh oil investment by sacrificing some near-term revenue in exchange for higher production, thousands of jobs, and a new wave of offshore capital inflows.

Standard Chartered has scaled back its outlook for interest rate cuts in Nigeria ahead of the Central Bank’s upcoming Monetary Policy Committee meeting, warning that stubborn inflation, elevated energy costs, and persistent price pressures are likely to keep borrowing costs higher for longer than many businesses and investors had anticipated.

The naira lost some of its recent momentum as Dangote Refinery’s shift to dollar-denominated fuel sales increased demand for foreign exchange, highlighting how changes in the downstream oil market are once again testing the resilience of Nigeria’s currency despite stronger external reserves and improved FX market liquidity.

Here are links to other stories you should read this morning;

PenCom clears pension arrears for 957,000 as assets rise 51% to N31.5tn

Reps withdraw passed State Police Bill as Tinubu sends fresh Constitution Amendment proposal

FG offers Shell unprecedented tax relief on $20bn oil project

Yellow Card signals crypto’s regulatory maturity with seven financial crime award nominations

And that’s a wrap on this morning’s gist-fest, fam! But hey, don’t run off just yet; your fave gist plug isn’t done with you. I’ll be back later in the evening with The Market Close, served hot, sizzling, and peppery like a nicely cooked catfish pepper soup, straight off the fire.

In the meantime, step out like the boss that you are, chest out, head high, and sprinkle that signature Naija confidence everywhere you go. Go secure that bag like it’s jollof at an owambe; you know you can’t leave it behind.

And remember our daily anthem: either you like it or not, I put it to you again that Nigeria will be better, she will be great, and I will make it big right here in Nigeria!

Got thoughts? Want to gist me back or drop a review? Don’t be dull; click that golden link and talk to your person! Until then, keep shining, keep winning, and catch you later, fam.

Muaaaahhhh.