News
Nigeria: Inflation Reaches 11-Month High of 17 Percent
The continuing war in Ukraine is partly responsible for upward price pressures on Nigeria, which relies on import of critical food materials like wheat, from the Black Sea region.
Inflation in Nigeria maintained a “galloping trend” in May, rising above expectations to 17.7 percent, against the 16.82 percent recorded in April, data released by the state-backed National Bureau of Statistics has shown.
Concerns about inflationary pressures driven partly by war in Ukraine, as well as domestic security challenges pushed the Central Bank of Nigeria to tighten its benchmark interest rates last month, for the first time in almost six years. The regulatory bank raised rates to 13 percent from 11.5 percent (a 150bps rise) during its policy meeting last May.
The monetary policy committee “feels that tightening would help rein in inflation before it assumes a galloping trend, considering the progressive increase in headline inflation”, bank governor Godwin Emefiele said last month.
The persisting rise in inflation could “undermine” the fragile growth recovery in Nigeria “due to the associated build-up of uncertainties around the cost of inventory and other production inputs”, Emefiele said.
Food inflation rose to 19.5 percent in May, from 18.4 percent in April, driven by the cost of bread and cereals and other food items, the NBS said in its Consumer Price Index report released on Wednesday.
With the NBS report showing increasing inflation and as the naira continues to plummet against the dollar, the purchasing power of Nigerians could be depleted even more.
The continuing war in Ukraine has also been seen as partly responsible for placing upward price pressures on the nation of more than 200 million people that relies on the import of critical commodities in producing bread – a key driver of food inflation in Nigeria.
“Inflation in Nigeria, already one of the highest in the world before the war in Ukraine, is likely to increase further as a result of the rise in global fuel and food prices caused by the war,” the World Bank said in a recent report.
“And that, the World Bank estimates, is likely to push an additional one million Nigerians into poverty by the end of 2022, on top of the six million Nigerians that were already predicted to fall into poverty this year because of the rise in prices, particularly food prices.”
East Ham, East London — 8 August 2026: The vibrant Igbo community in the UK came together for an unforgettable evening of entertainment, culture and social connection at Igbotic Game Night, one of the biggest social gatherings celebrating the Igbo community in the United Kingdom.
Among the night’s standout moments was an electrifying performance by Afrobeats artist Obeena, who took the stage and immediately captured the attention of the crowd.
Obeena delivered performances of two of his hit songs, “Wara Wara” and “Banging,” bringing his energetic sound and distinctive stage presence to the event. From the opening moments of his set, fans responded with excitement, singing along, dancing and enthusiastically supporting the artist.
His performance of “Wara Wara” created an instant connection with the audience, while “Banging” took the energy to another level. Obeena’s ability to engage the crowd transformed his set into one of the most memorable entertainment moments of the evening.
Held in East Ham, East London, on 8 August 2026, Igbotic Game Night provided a unique platform for members of the Igbo community to celebrate their heritage while enjoying music, games and social interaction. Events such as this continue to play an important role in bringing together Nigerians and the wider African diaspora in the UK.
For Obeena, the performance was another opportunity to showcase his growing artistry and connect directly with fans. His energetic delivery, stage confidence and ability to command the audience demonstrated why his live performances continue to attract attention.
By the end of his set, Obeena had left the crowd amazed and added another memorable chapter to his journey as an Afrobeats artist. His appearance at Igbotic Game Night was not simply a performance—it was a celebration of Nigerian music, culture and community.
With performances like this, Obeena continues to demonstrate his ambition to take his sound beyond the studio and onto major stages, connecting with audiences through music, energy and an unmistakable African identity.
Igbotic Game Night brought the Igbo community together. Obeena gave them a performance to remember.
Audio
KenryWhite Releases “Kilometers” & “The King” A Powerful Double Release Celebrating Faith, Purpose, and the Journey to Greatness
Nigerian Afrofusion artist KenryWhite unveils his compelling two-track release, “Kilometers & The King,” a project that explores the realities of life’s journey while affirming identity, faith, and purpose.
Leading the release is “Kilometers,” an uplifting anthem that reflects on the distance between dreams and fulfillment. Through heartfelt lyrics, captivating melodies, and vibrant Afrobeats production, KenryWhite encourages listeners to embrace the process, remain resilient, and keep moving forward despite life’s challenges.
Complementing the project is “The King,” featuring Wonder J. The record is a bold declaration of confidence, royalty, and divine purpose, blending infectious Afrobeats rhythms with inspiring lyricism. Together, the duo delivers a record that celebrates self-belief, leadership, and the mindset required to overcome every obstacle.
With rich storytelling, memorable melodies, and contemporary African sounds, “Kilometers & The King” showcases KenryWhite’s artistic growth while delivering music that inspires, motivates, and connects with audiences across the globe.
Now available on all major streaming platforms, “Kilometers & The King” invites listeners to embrace the journey, recognize their worth, and walk confidently into their purpose.
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