The United Nations on Friday warned that about 35 million Nigerians are at risk of acute hunger from June to August.
The UN Humanitarian Country Team in New York City, United States, said Nigeria was facing a deepening hunger crisis, with millions at risk as the lean season approaches.
“Nearly one in seven people, that is 35 million people nationwide in Nigeria, are likely to face acute food insecurity during this year’s lean season, which runs from June to August,” it said.
The UN said the latest report makes Nigeria one of the world’s largest hunger crises, with the burden falling overwhelmingly in the northern part of the country.
“If assistance is further delayed, millions of families will be forced to reduce meals further, sell assets, or withdraw their children from school with the long-term impact that we know it has,” it said.
Across North-west and North-east Nigeria, the UN said an estimated 6.4 million children are likely to be acutely malnourished this year.
“Our partners and we are appealing for urgent funding to scale up life-saving assistance,” the global multilateral body said.
The UN said the already hyper-prioritized 516 million dollars Humanitarian Needs and Response Plan for the year 2026 is just over 40 per cent funded.
According to the latest humanitarian response plan report, only 215 million dollars out of the 516 million dollars have been received as of May 2026.
NAN
The Nigerian Naira maintained its steady momentum against the United States Dollar in the early hours of Friday, May 22, 2026, demonstrating continued stability across both the official window and the informal parallel market segments.
In the Nigerian Foreign Exchange Market (NFEM), which serves as the official platform for formal trade, the Naira opened the morning session trading at 1,370.05 per US Dollar. This performance aligns closely with the closing trends from the previous session, where daily averages hovered around the 1,371 to 1,373 range.
Liquidity within the official window has remained resilient, supported by steady interbank turnovers and the Central Bank of Nigeria’s (CBN) structured interventions, which have effectively managed transaction matching and minimized sharp morning volatility.
On the streets and across informal parallel market channels in major commercial hubs such as Lagos, Abuja, and Kano, the local currency mirrored the stability seen in the formal sector. Bureau De Change (BDC) operators quoted trading rates tightly bound around 1,370 Naira for buying and 1,372 Naira for selling for a single US Dollar.
This near-total convergence between the parallel market and the official NFEM spot price marks a sustained reduction in the speculative premium that historically separated the two market segments.
Financial analysts attribute this current state of equilibrium to a balanced mix of moderated retail demand and aggressive monetary policy frameworks. With the Monetary Policy Rate (MPR) sitting firmly at 26.5 percent, the tight control over liquidity continues to anchor the local currency, keeping speculative attacks at bay and preserving a predictable boundary for both businesses and investors.
The price of petrol and other refined products changed across depots as crude oil prices shifted in the international markets.
Data obtained from the Major Energies Marketers Association of Nigeria (MEMAN) revealed that in the downstream market, petrol gantry prices averaged N1,275 per litre from the previous price of N1,195.02/L.
However, there was a higher landing cost pressure on PMS at import parity estimates, with N1,212.75 per litre (30-day average) versus N1,362.55 and N1,361.54 per litre recorded as spot price at ASPM and NPSC jetties.
Dangote’s gantry price is listed at about N1,275 per litre, and coastal estimates are near N1,215 per litre, indicative of a discount toward the upper end of import parity estimates.
For diesel (AGO), import parity spot estimates at the jetties are near N1,750 per litre, while Dangote gantry pricing is close to N1,800 per litre. Coastal supply levels are markedly lower at nearly N1,443 per litre, revealing considerable markups between various logistics/delivery points.
In aviation fuel (ATK), import parity spot values hover near N1,679 per litre; Dangote’s gantry prices are closer to N1,650 per litre, indicating that jet fuel pricing is at near parity with slight deviations to both sides based on supply chain and financing assumptions.
The Nigerian Naira maintained a steady path against the United States Dollar early this Thursday across both the official market and the informal parallel segments, continuing a pattern of relative calmness in the local foreign exchange market.
In the Nigerian Foreign Exchange Market (NFEM), the official window for formal trade, data from the opening sessions on May 21, 2026, shows the Naira trading at 1,371.25 per US Dollar.
This morning’s performance follows closely on the heels of recent trading sessions handled by the Central Bank of Nigeria (CBN), where daily averages hovered around 1,373 Naira. Liquidity levels inside the official window have remained active, backed by consistent interbank turnovers that have kept the spot rate locked within a narrow, predictable boundary over the past week. Traders indicate that supply interventions and steady transaction matching have prevented any sharp morning volatility.
On the streets and across informal parallel market channels in major hubs like Lagos, Abuja, and Kano, the currency saw identical stability. Bureau De Change operators are quoting buying rates around 1,370 Naira and selling rates near 1,372 Naira for a single US Dollar.
The near-total convergence between the parallel market rate and the official NFEM spot price highlights a significant reduction in the premium usually associated with informal trading. Market analysts attribute this equilibrium to a balanced mix of retail demand and strategic monetary policy measures designed to keep speculation at bay.
With the Monetary Policy Rate sustained at 26.5 percent, the broader economic framework continues to favor a defensive stance for the local currency, maintaining tight control over liquidity to preserve the stability observed on both sides of the market.
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