The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has signalled that lending rates could decrease in the coming months, as headline inflation shows signs of slowing.

Speaking during a fireside chat at the European Business Chamber (Eurocham Nigeria) C-Level Forum, Cardoso said that while inflation remains elevated, its gradual decline opens the door for lower interest rates.

He emphasised that an environment of easing inflation and improved market efficiency would naturally support stronger corporate lending and increased investment.

Cardoso underscored the CBN’s top priority: maintaining financial system stability while addressing inflation pressures. He reiterated that the ongoing recapitalisation of banks is critical in strengthening institutions to withstand economic shocks and support growth.

He also highlighted the importance of deepening financial inclusion through technology-driven solutions and fintech, as part of broader efforts to promote equitable access to credit and tackle poverty.

In addition, he praised enhanced coordination between the central bank and fiscal authorities—including the Ministries of Finance, Trade and Industry, and the Budget Office—as key for sustaining economic reforms and long-term stability.

The wife and daughter of Alhaji Mohammed Swasun, chairman of the All Progressives Congress (APC) in Patigi Local Government Area of Kwara State, have been abducted.

The incident occurred on Sunday evening when suspected gunmen stormed the community. Swasun reportedly witnessed as his wife, Hajia Fatima, and daughter, Amina, were taken away to an unknown location.

A source confirmed that the matter has been reported to the Patigi Police Division.

“The authorities are aware, but the kidnappers have not contacted the family yet,” the source said.

As of the time of filing this report, security agencies have not issued an official statement on the incident.

The Nigeria Union of Petroleum and Natural Gas Workers on Sunday said it would proceed with its planned strike today (Monday) despite intervention by the Federal Government.

NUPENG President, Williams Akporeha, confirmed that the government had reached out to the union but maintained that the industrial action would continue pending the outcome of a meeting with officials later today.

The union had on Friday announced that its members would stop loading petroleum products nationwide from September 8, following the Dangote Petroleum Refinery’s plan to import 4,000 Compressed Natural Gas-powered trucks for direct distribution to retailers.

In a joint statement signed by Akporeha and the union’s General Secretary, Afolabi Olawale, NUPENG accused the refinery of anti-labour practices, including moves to bar newly recruited drivers from joining any union.

The union described the policy as a violation of constitutional provisions and international conventions on freedom of association. Previous appeals by NUPENG and the Nigerian Association of Road Transport Owners to Dangote to reconsider were reportedly ignored.

To avert the strike, the Minister of Labour and Employment, Muhammad Dingyadi, on Sunday summoned all parties to a conciliation meeting in Abuja. He appealed to NUPENG to suspend the action and urged the Nigeria Labour Congress to withdraw the “red alert” issued in solidarity.

Dingyadi warned that a shutdown in the petroleum sector would cause severe hardship and revenue losses, but assured that government would work toward a resolution acceptable to all sides.

Akporeha, however, told The PUNCH that there was no concrete offer yet from government and confirmed that the strike would commence as planned.

Petroleum marketers also declared support for the union, saying filling stations would close if tanker drivers downed tools. PETROAN President, Billy Gillis-Harry, said the strike posed a “looming danger” and announced a three-day suspension of lifting and dispensing products beginning Tuesday.

He warned that Dangote’s distribution strategy could force out private depot owners, modular refineries, and independent marketers, with widespread job losses and economic disruption.

NUPENG restated on Sunday that the strike would go ahead, dismissing claims by the Direct Trucking Company Drivers Association that it could not speak for tanker drivers. The union alleged that the association was created by the refinery to weaken its ranks.

Labour leaders, including Nigeria Labour Congress President Joe Ajaero, also condemned Dangote’s policy, describing it as “crude and dangerous”.

Human rights lawyer, Femi Falana (SAN), called on government agencies to stop what he described as anti-union and monopolistic practices, stressing that they contravened Nigeria’s constitution, labour laws, and international obligations.

Meanwhile, the Economic Rights Activists urged NUPENG and its allies to suspend the strike, warning that it would inflict hardship on ordinary Nigerians, hike transport fares and food prices, and threaten small businesses.

They appealed to the National Assembly and the Federal Government to intervene, while urging the refinery to address workers’ concerns through dialogue.