General News
Inflation, Naira and Oil in Focus

By Lukman Otunuga is Senior Financial Market Analyst with FXTM

Lukman Otunuga
Still, concerns over the health of the world’s largest economy linger with investors on high alert ahead of another busy week. With the US elections just months away, this negative development adds another layer of uncertainty. Much focus will be on the US CPI print, retail sales, and consumer confidence which are likely to shape expectations around how aggressively the Fed cuts rates.
Regarding the fourth largest economy in Africa, the man theme will be the latest CPI print. One of the key themes in Nigeria in 2024 has been runaway inflation which jumped to 34.2% in June – it’s highest level since 1996. However, the incoming CPI print is expected to show prices slowing in July, cooling to 33.2% compared to 34.2% in the previous month. Given the CBN’s aggressive approach towards raising rates, signs of cooling price pressures will be a breath of fresh air for consumers. It is worth nothing that the Central Bank of Nigeria has raised rates by a whooping 800 basis points in 2024.
Looking beyond inflation, the next key event will be GDP published later this month. After expanding 3% in Q1, it will be interesting to see whether growth can be maintained in Q2. In the FX space, the Naira continues to gain against the dollar on the official exchange with the spot rate at N1589 as of Monday.
Regarding oil, it has extended its first weekly gain since early July thanks to geopolitical tensions in the Middle East. Rising oil prices may have a positive knock-on effect for the economy, especially when factoring how a major chunk of revenues is acquired from oil sales. However, this could be cancelled out by the rising cost of fuel imports which is costing Nigeria $600 million per month.
Still, this is set to be another big week for the global commodity due to the monthly outlook from the International Energy Agency. Talking technicals, Brent has gained over 4% since the start of 2024 with prices trading above $80 as of writing. Key levels of interest can be found at $7, $82 and $82.80.
General News
NIN Enrolment Hits 117.3m – NIMC

National Identity Management Commission (NIMC) has announced that as of February 28, 2025, the number of Nigerians enrolled in the National Identification Number (NIN) database has reached 117.3 million.
This marks a significant increase of over seven million registrations since September 2024, when the figure stood at 110 million.
Gender and State Distribution
The latest statistics reveal that 56.5% of registered individuals are male, totaling 66.2 million, while 43.5% are female, at 51.07 million.
Among states, Lagos leads with 12.6 million registrations, followed by Kano with 10.2 million and Kaduna with 6.9 million.
This is consistent with the high populations in Lagos and Kano.
Other states with notable enrolment numbers include:
Ogun (4.9 million),
Oyo (4.5 million),
Katsina (4 million).
In contrast,
Bayelsa (758,111),
Ebonyi (990,775),
have the lowest enrolment figures.
The government has been emphasising the need for citizens to link their NIN to access essential services, including social services, financial transactions, and telecommunications.
A well-developed and accessible digital ID system is seen as vital for effective digital governance.
Beyond strengthening security and promoting transparency, this initiative aims to enhance the efficiency of service delivery across the country.
General News
NITDA, MTN Foundation Collaborate to Boost Digital Literacy

As part of efforts to reform the economy for sustained and inclusive growth, the Director-General, National Information Technology Development Agency, (NITDA) Kashifu Inuwa, CCIE has called for a collaborative partnership between NITDA and the MTN Foundation to promote digital literacy and capacity building in Nigeria.
Inuwa made this call during a courtesy visit by MTN Foundation delegation, led by Odunayo Sanya, at the Agency’s Corporate Headquarters in Abuja.
The Director-General emphasised the importance of synergy in fostering digital literacy and advancing President Bola Ahmed Tinubu’s agenda of promoting industrialisation to create a dynamic and diverse economic landscape.
He noted that NITDA’s initiative, DL4ALL, aims to achieve 95% digital literacy across the country by the year 2027. “This aligns with the Agency’s strategic pillar of fostering digital literacy and cultivate talents,” he noted.
Inuwa also highlighted NITDA’s dedication to developing a digital literacy framework based on UNESCO and DigiCom standards, adding that the Agency is collaborating with stakeholders to create a three-phase curriculum for primary, secondary, and tertiary institutions, with a focus on prioritising skills over certifications.
The MTN Foundation shares similar goals and currently offers online programmes featuring over 4,000 courses, with 2,000 young Nigerians already registered.
Mr. Sanya commended NITDA’s initiatives and invited the Agency to unveil its academy platform on April 17th of this year.
Both organisations have agreed to establish a committee to efficiently achieve their shared objectives. This partnership is expected to drive digital literacy and capacity building in Nigeria, aligning with the country’s national development agenda.
General News
MTN Nigeria Takes Go MAD Campaign to The Entrepreneurial Hub of Aba

MTN Nigeria is set to bring its Go Make A Difference (Go M.A.D) campaign to Aba, Nigeria’s renowned enterprise hub, on Sunday, March 23, at Sugarland, Luxury City Hotel.
This initiative continues MTN’s mission to inspire Nigerians to take deliberate steps toward community development and digital empowerment.
Speaking with the press at the campaign launch, Onyinye Ikenna-Emeka, Chief Marketing Officer of MTN Nigeria, shared the inspiration behind the Go M.A.D initiative. “At MTN, we believe in driving progress, giving our customers the power to rise above challenges and create something extraordinary. The Go M.A.D campaign is rooted in the belief that MTN data gives you the power to take on the world, to achieve the extraordinary, and to make a meaningful difference, in your community, your family, and your workplace. It’s our way of saying: we see you, we support you, and we’re here to make your journey better.”
Following exciting stops in Abuja, Enugu, Calabar, Ibadan, and most recently Benin, the campaign now heads to Aba with a promise to spotlight the city’s rich entrepreneurial spirit and creative talent.
In Aba, attendees can expect a thrilling fusion of technology, entertainment, and culture, with augmented and virtual reality zones, a flash mob, interactive games, special guests and inspiring real-life stories. The event will also feature Kahoot trivia games, a Go MAD puzzle, a pledge wall, and giveaways of MTN-branded merchandise and digital devices.
A highlight of this event will be the Talent Showcase, dedicated to spotlighting Aba’s emerging creatives and innovators. This platform provides local talents the opportunity to share their creative skills and connect with a broader audience.
Set against the backdrop of Aba’s reputation as a powerhouse of local industry and innovation, the event will celebrate individuals, known as Go MAD Icons, who are making a difference through MTN Data by driving social impact, growing businesses, or sharing knowledge digitally. These icons will serve as powerful reminders of what’s possible when creativity meets connectivity.
As with the previous activations in Abuja, Enugu, Ibadan, Calabar and Benin, cultural expression will remain central to the experience, with performances and installations that pay homage to the Igbo culture while encouraging young people to take positive action in their communities.
MTN’s Go MAD campaign is not just a series of events; it’s a national call to action. By merging storytelling, digital experiences, and grassroots inspiration, the campaign continues to engage Nigeria’s youth and highlight how technology can be a force for change.
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