Author: Editor
Demo summary for Rock misfits carve identity in Nigeria’s underground scene.
Demo summary for Toke Makinwa celebrates Toju Foyeh’s pregnancy, reflects on God’s timing.
Demo summary for Afro-Adura: the music uplifting Nigeria amid financial crisis.
Demo summary for Burna Boy’s ‘No Sign of Weakness’ fulfills his rock star dreams.
Demo summary for ‘Music is dictated by women’ – Darkoo.
Demo summary for David Oyelowo leads creative arts summit for Nigerian girls.
Headline inflation eased for a fourth straight month in July to 21.88% from 22.22% in June following an update to the CPI basket and base year. However, food inflation ticked higher to 22.74%, underscoring persistent pressure on household budgets. The Central Bank maintained the policy rate at 27.5%, signalling a preference to consolidate disinflation trends while monitoring exchange-rate and supply-side risks.Source: https://www.reuters.com/world/africa/nigerias-inflation-eases-july-food-price-rise-2025-08-15/
The EFCC said it will arraign 23 suspected internet fraudsters arrested during a raid at a hotel located within the Olusegun Obasanjo Presidential Library complex in Abeokuta. According to investigators, the wider operation netted dozens of suspects linked to impersonation and other cyber‑offences. Defence lawyers have raised concerns about due process, which the agency disputes.Source: https://www.premiumtimesng.com/news/top-news/814270-efcc-to-arraign-23-suspected-internet-fraudsters-arrested-at-oopl.html
President Bola Tinubu has directed his economic team to pursue policies capable of lifting average annual GDP growth to 7% by 2027, with a longer-term ambition to quadruple the economy by 2030. Since 2023, the administration has scrapped fuel and electricity subsidies and moved the naira to a market-driven rate—reforms that improved macro indicators but triggered a steep cost-of-living squeeze. Tinubu also called for a review of revenue retention by agencies including the FIRS, Customs, and NNPC to boost fiscal space for investment, while independent analysts caution that productivity gains and credible savings plans are essential.Source: https://www.reuters.com/world/africa/nigerias-tinubu-targets-7-economic-growth-by-2027-2025-08-14/
The federal government has approved the refinancing of approximately ₦4 trillion in power-sector debts owed to 27 generation companies for unpaid invoices dating from 2015 to 2023. According to Finance Minister Wale Edun, the exercise—expected to conclude within a few weeks—will be coordinated by the Debt Management Office using market instruments. Officials say the move is designed to stabilize the electricity value chain, unlock investment, and complement recent tariff reforms targeted at high-consumption urban bands. Authorities project savings from reduced subsidies and better liquidity management, while consumer groups are urging transparent tracking of proceeds and service improvements.Source: https://www.reuters.com/sustainability/boards-policy-regulation/nigeria-approves-26-billion-electricity-sector-debt-refinancing-plan-2025-08-14/