Travel Taipei with Filipino influencers! Check out their top spots

Not sure which attractions to include in your Taipei itinerary? Why not follow in the footsteps of popular Filipino travel influencers Krisell Lumagui and The Poor Traveler!

This article will show you the places they explored in Taipei, which might inspire your own trip. If you’d like to visit influencer-recommended spots but aren’t sure how to plan your route, we recommend checking out the website of Taipei Travel, the official travel website of the Department of Information and Tourism, Taipei City Government.

It features three specially designed four-day, three-night Taipei itineraries for Filipino visitors, including influencer spots as well as experiences beloved by Filipino travelers-so you can choose the route that best suits your travel style!

A food paradise: Taste iconic snacks at night markets and shopping districts

Taipei’s food scene is absolutely irresistible! If you want to sample the city’s famous snacks all in one go, Taipei’s bustling shopping districts and night markets will not disappoint.

Among them, the Yongkang Shopping District and Shilin Night Market, both highly recommended by influencers, offer a wide variety of treats-from classic beef noodles to refreshing mango shaved ice-that delight both kids and adults alike.

The lively Shilin Night Market is a must-visit, where you can find virtually every Taipei’s iconic street food you’ve heard of. Even influencers come here for a taste, proving that Taipei’s culinary charm truly has international appeal.

A fun-filled wonderland for the whole family

The Taipei Children’s Amusement Park showcases Taipei’s modern interpretation of ‘play.’ This contemporary amusement facility perfectly blends with the cityscape, attracting not only children but also adults who want to rediscover their inner child. Here, happiness is simple-regardless of age, everyone can find their own moments of joy!

Wondering if it’s worth a visit? Just take a look at Krisell Lumagui’s authentic experience-you’ll find the answer in the smiles of her entire family.

City meets nature: Cable car rides and relaxing hot springs in Taipei

Want to take in the full scenic beauty of Taipei, a city framed by mountains and rivers? The Maokong Gondola is the perfect choice. As the cable car slowly ascends, the entire Taipei Basin unfolds below you-from the bustling cityscape to the winding mountain ridges, each view is like a beautiful painting.

Meanwhile, the Taipei Botanical Garden offers a rare green oasis in the city, providing a refreshing pause during your travels.

Just outside Taipei, Qingtiangang Grassland on Yangmingshan boasts expansive grasslands where visitors can stroll freely and breathe in the revitalizing forest air-nature is right at your doorstep, even amidst the lively city.

Additionally, the Beitou Hot Springs, highly recommended by both influencers, are a favorite among travelers from tropical countries. The soothing steam allows complete relaxation, while the mineral-rich waters offer wellness benefits.

This is another side of Taipei-a modern international city that also embraces its natural beauty.

Taipei’s charm: A perfect blend of modern creativity and tradition

These historical and cultural sites are what make Taipei so enchanting. Its rich cultural heritage turns the city into a place full of stories.

At the century-old Lungshan Temple in Monga, you can admire the exquisite carvings and architectural beauty of the temple. The red-brick buildings of Bopiliao Historic Block serve as a time capsule, transporting visitors back a hundred years to experience Taipei’s traditional architectural aesthetics.

Dihua Street and Yongle Market are perfect for a deeper dive into Taipei’s culture. Wander through the dried goods shops along Dihua Street, or pick out a piece of fabric at Yongle Market to sew into a pillow-a tangible memory of your journey and a lasting keepsake of your Taipei adventure.

Discover Taipei’s unique shopping districts and the city’s fashion vibes

The youthful energy of Ximending and American Street showcases Taipei as a birthplace of pop culture. These areas are hubs of creativity, and strolling the streets, you can feel the city’s nonstop innovative spirit.

Beyond this vibrant youth culture, the Xinyi Shopping District, also visited by both influencers, is the epicenter of fashion and style. Here, the world-famous Taipei 101 awaits-climb up to the observation deck to take in breathtaking city views, experiencing Taipei’s modern metropolitan charm and vitality.

Meanwhile, the Zhongshan Linear Park and the Japanese-style Zhongshan shopping streets highlight Taipei’s cultural diversity and inclusiveness. Buildings from the Japanese colonial era blend seamlessly with modern designs, creating a unique urban aesthetic.

In recent years, these areas have developed into new shopping districts, attracting many creative stores and offering visitors fresh choices for exploring and shopping.

Taipei itineraries: Three routes to choose from

After seeing these exciting spots for food, family fun, nature, culture and shopping, are you tempted? Ready to fly to Taipei right away? All of these influencer-recommended attractions are included in the three specially designed itineraries for Filipino visitors on the Travel Taipei website.

Whether you want to enjoy quality family time, experience diverse outdoor adventures, or immerse yourself in deep cultural exploration, the website of Taipei Travel offers three thoughtfully planned four-day, three-night routes for Filipino travelers. Follow the influencers’ favorite spots and create your very own Taipei story!

Branch crashes out, eyes 2026 Dakar comeback

It has been a tough outing for Botswana’s Dakar Rally world rally raid championship (W2RC) defending champion, Ross Branch.

The Kalahari Ferrari, as the affable rider is affectionately called, crashed out during stage three of the fourth round. The crash, which left his motorcycle mangled, all but ended his title defense.

This marked an anticlimax for the Dakar Rally W2RC champion, who admitted his title defence had not gone according to plan. A series of setbacks hamper put paid his ambition to defend the title he won in 2024.

‘Unfortunately, I crashed out of the Rally. The year was not as good as I expected. We had issues the entire season and a bit of bad luck,’ Branch said. ‘But one has to move on and prepare for the coming races.’

While he is no longer in the title race, Branch is not ready to fold his arms and declare the season over. He is still determined he will go back and take part in stage five of the world championship in Portugal. His plan is to use the stage as a crucial testing ground for the 2026 Dakar Rally. His focus has shifted from defending his current title to preparing for a strong comeback.

‘We’ve had mechanical failures, even hit a bird in round three, and in round four things were going well – I was in the top five, exactly where we wanted to be. Unfortunately, I had a big crash, and that was the end of the race for me,’ he explained.

With no chance of clinching the world title this season, Branch sees the upcoming race in Morocco, the final round of the 2025 championship, as an opportunity to test new setups, sharpen his navigation, and rebuild his confidence.

‘Going into the last round, there’s no way of winning the championship, but we have a couple of things we’d like to test for Dakar in January,’ Branch said. ‘I’m feeling good, ready to battle the best in the world, get my confidence back, and hopefully gain more experience with navigation. That way, I’ll be fully prepared for Dakar.’

Despite the setbacks, the ‘Kalahari Ferrari’ remains optimistic. His focus is firmly on January, where he hopes to reclaim his crown and remind the world why he is one of the most fearless riders on the global rally scene.

BoBA’s wait and see strategy pays dividends

In April 2024, court of Arbitration for Sport (CAS) dismissed International Boxing Federation (IBA)’s appeal seeking to overturn a decision by the International Olympic Committee (IOC) to strip it of its recognition.

The ruling marked the end of the road for IOC and IBA. That very same month, the newly formed World Boxing (WB) was publicly announced. This new entity was to take over from IBA as the custodian of Olympic style boxing.

This new shift left many African in a tricky situation. At the time, it seemed they had to make a decision whether to stay with IBA or jump ship to the newly formed WB. This left many national boxing federations, more especially those in Africa, caught between a rock and a hard place.

Not joining WB would mean exclusion from participating in the future Olympic games, the games which, for many amateur boxers, are the pinnacle of achievement. For some like Botswana Boxing Association (BoBA), this would mean loss of sports grants from the government and support from organisations such as IOC.

Ditching IBA, on the other hand, would mean they lose whatever benefits they get. These would include missing out on IBA organised competitions, which still dominate the continent. It would also mean missing out on IBA projects meant to develop the sport of boxing.

Only Nigeria, among the African countries, was brave enough to jump ship and join WB. Botswana, on the other hand, decided to bide its time. They adopted a wait and see strategy, choosing to ‘monitor the events as they unfold.’

Speaking to this publication at the time, the then BoBA Secretary General Taolo Tlouestile had this to say: ‘We still do not know what the new body is coming with and even though IBA has been stripped of recognition it still has control over boxing training courses and many related boxing activities. What if we rush to the new body and find out that those things are limited and not being offered as IBA did.’

Fast forward a year later, sixteen African countries have now joined WB. The latest to join, albeit pending ratification, were the Libyan Boxing Federation (Libya) and the Boxing Federation of Kenya. As per the WB constitution, the two will have to wait until the WB congress in November 2025 to be granted full membership, as only the congress can approve it.

Now, Botswana is about to enter the ring as well. According to BoBA Publicity Secretary Kabelo Seleka, the association ‘is on the verge of joining World Boxing Organisation.’

He says ‘BoBA’s initial application for World Boxing membership was made by its immediate past Executive Committee.’ The membership application, which included submission of required documents has been accepted.

‘BoBA has met set requirements but with pending additional information submission. Most the requirements are centred around governance, membership, reporting, impact, compliance background,’ Seleka explains.

Of note, BoBA will join World Boxing without sacrificing its membership to IBA. The latter is said to have ‘long granted BoBA permission to go ahead with dual membership application by the International Boxing Association (IBA).’

Seleka says ‘the decision to join World Boxing has been reached with major focus on athletes’ interest, more especially participation in major recognised games such as the upcoming Olympics.’

Meanwhile, the BoBA Publicity Secretary says they expect more countries from the region to also join World Boxing as well. He says ‘most Southern Africa countries are in process of joining the World Boxing and or some might be awaiting to follow first movers in the region, who include BOBA.’

The new developments mean BoBA’s earlier decision to adopt ‘a wait and see strategy’ and to ‘monitor the events as they unfold’ has paid dividends. The association can now enjoy the benefits accrued from the two amateur boxing bodies without sacrificing one for another.

FIFA U-20 World Cup: Bameyi’s late goal lifts Flying Eagles into knockout stage

Nigeria’s Flying Eagles advanced to the Round of 16 at the ongoing 24th FIFA U20 World Cup in Chile after a spirited 1-1 draw against Colombia in the early hours of Monday.

The seven-time African champions put up a determined display at the Estadio Fiscal de Talca, with goalkeeper Ebenezer Harcourt pulling off crucial saves in the 23rd and 26th minutes to keep the game level.

Despite Colombia’s early pressure, the Nigerians were the more enterprising side, with Tahir Maigana, Kparobo Arierhi, and Suleman Sani constantly troubling the South American defence and striking the upright on several occasions.

Colombia broke the deadlock in the 51st minute through Kener Gonzalez, who converted from Neyser Villareal’s assist.

Undeterred, the Flying Eagles piled on relentless pressure, and defender Odinaka Okoro came close with a header in the 76th minute.

Nigeria’s persistence paid off in the 86th minute when captain Daniel Bameyi calmly slotted home from the penalty spot after a Colombian defender handled Maigana’s goal-bound effort.

The Nigerians nearly clinched a late winner, but Arierhi’s shot in the 89th minute was blocked inside the area.

The result means Nigeria will now face Argentina at the Estadio Nacional Julio Martinez Pradanos in Santiago on Wednesday a repeat of the quarter-final clash from the last U20 World Cup hosted by Argentina, where the Flying Eagles triumphed 2-0 in San Juan.

Elsewhere, Colombia will meet South Africa, while Norway takes on Paraguay in other Round of 16 fixtures.

Waves of Innovation: How First Bank turned Lagos into Africa’s Electric Playground

The Lagos Lagoon glistened in shades of blue and gold as electric powerboats sliced through the water, cheered on by an ecstatic crowd that lined Victoria Island’s waterfront from Saturday, 3 October to Sunday, 5 October. For two unforgettable days, Lagos became Africa’s capital of clean energy, glamour, and innovation, all powered by First Bank of Nigeria, the sponsor of the continent’s first-ever E1 Lagos Grand Prix.

From the rhythmic sounds of Afrobeats echoing across the Marina to the sight of sleek, futuristic boats gliding silently on water, the E1 Lagos GP was more than a race, it was a celebration of Lagos’ vibrant spirit and Nigeria’s march towards sustainability.

President Bola Ahmed Tinubu, in a goodwill message, hailed the event as a bold statement of intent by Nigeria and Lagos, praising Governor Babajide Sanwo-Olu, First Bank, and other partners for delivering a world-class spectacle.

‘The E1 Powerboat series combines world-class entertainment with clean energy innovation. This championship is not just a thrilling spectacle on water but a commitment to a greener and more sustainable future,’ the president had said at the opening ceremony of the great event on Friday, 3 October.

Governor of Lagos State, Mr. Babajide Sanwo-Olu presenting the trophy to winner of the E1 Lagos GP championship – Team Brazil during the grand finale in Victoria Island, Lagos, on Sunday, 5 October 2025.

He described Lagos as ‘a gateway to innovation, technology, and global sporting excellence,’ affirming the nation’s readiness to lead Africa’s transition to clean energy.

Governor Babajide Sanwo-Olu, who led the regatta that opened the event, described the championship as a proud moment for Lagos and a reflection of its global potential.

‘E1 Lagos GP is more than a race; it is a celebration of Lagos’ dynamism, the Spirit of Lagos,’ the governor said, adding that ‘It shows our capacity to host world-class events and underscores our commitment to sustainability.’

Crowds thronged the Lagos Lagoon and fan zones, having fun, snapping selfies, and soaking in the festive atmosphere. International sports icons, investors, and fans came from across the world, including former Chelsea and Ivory Coast football legend Didier Drogba, co-owner of Team Drogba Global Africa, who added a touch of celebrity magic to the weekend.

For First Bank of Nigeria, the event was not just about sports, it was about making history. Acting Group Head of Marketing and Corporate Communications, Olayinka Ijabiyi, said sponsoring the E1 Lagos GP reflected the bank’s heritage of innovation and renewal. ‘Innovation, sustainability, excitement, speed, we are a heritage bank that has been around for 131 years, and for every one of those years, we have constantly renewed ourselves,’ Ijabiyi said, saying that ‘When this opportunity came, who else could bring the first E1 GP to Nigeria but First Bank? We are proud to have presented Lagos and Nigeria to the world.’

At the First Bank Pavilion, visitors enjoyed interactive experiences, lifestyle engagements, and product showcases, while music, fashion, and food added a distinctly Lagos flavour. Families and young professionals mingled with entrepreneurs, all celebrating a fusion of technology, culture, and sustainability, hallmarks of the bank’s brand identity.

‘This race is a net-zero emitter,’ Ijabiyi added. ‘We are strong on sustaining the environment and supporting a cleaner, greener future. It’s innovation meeting responsibility.’

The E1 partnership also connects with the bank’s #FirstBankDecemberIssaVybe series, an annual celebration of entertainment and lifestyle that lights up Nigeria’s festive season. ‘December is the Vybe,’ Ijabiyi teased. ‘This is just a taste of what’s to come-fun, fashion, food, and amazing experiences.’

The finale on Sunday was nothing short of electrifying as Team Brazil claimed victory, with pilots Timmy Hansen and Leva Millere-Hagin steering their electric boat to glory, beating Team Blue Rising and Team Drogba to the podium.

As the sun set over the Lagoon, the waterfront transformed into a sea of lights and cheers, a moment that captured the heart of Lagos: energetic, ambitious, and always ready to lead.

With its sponsorship of the E1 Lagos Grand Prix, First Bank once again proved that it is more than a financial institution, it is a lifestyle brand championing innovation, sustainability, and national pride.

In the words of Latoya Johnson, a Lagosian who attended the event: ‘I grew up knowing First Bank as the reliable one. Seeing them behind something this big makes me proud. They’re not just banking our money, they’re banking our future.’

From clean energy to cultural celebration, from racing boats to smiling faces, the E1 Lagos GP was a powerful reminder that when innovation meets tradition, the result is pure magic.

Challenges remain in prosecuting trafficking cases

Philippines – When notorious Australian pedophile Peter Scully and his coaccused Carmie Ann Alvarez pleaded not guilty to harboring two minors, chaining and detaining them for sexual exploitation, their victims could not understand why.

‘The two minors were crying, asking: ‘Why did they say not guilty? It’s the two of them who did it,” recalled Cagayan de Oro City prosecutor Charisse Galarrita-Bitoon, who handled that case.

She remembered telling them: ‘Langa, as I have explained before, they will always say not guilty.’

‘But they cannot understand that. The children were hurt,’ Galarrita-Bitoon told journalists on Sept. 12 during a seminar on human trafficking organized by the US Embassy.

The case dates back to 2014, when Alvarez befriended the girls at a mall, bought them hot dogs, and persuaded them to go with her, promising to provide for their needs, before taking them to Scully’s house.

There, the girls were fed, bathed, and given biscuits and alcoholic drinks that left them drunk. They were then sexually abused, with one of them even ordered to dig a hole in the ground while both were still naked with chains around their necks.

Days later, when Scully and Alvarez left the house, the girls managed to escape by climbing over the fence.

More than a decade has passed since that harrowing experience. The two survivors are now in college, pursuing nursing and psychology, slowly rebuilding their lives. In 2024, the Supreme Court affirmed the conviction of Scully and Alvarez.

Scully’s case, Galarrita-Bitoon said, became the driving force behind the establishment of a justice zone in Cagayan de Oro City last year.

It also highlighted the grueling process of prosecuting trafficking cases involving children, where state lawyers deal with defense dilatory tactics and the retraumatization of child witnesses during trial, among other challenges.

Part of the struggle, she added, is securing cooperation from internet companies and financial institutions in providing information related to sex trafficking crimes-echoing similar concerns raised by Department of Justice (DOJ) officials and groups like the International Justice Mission (IJM).

The Philippines is one of the world’s largest known sources of online sexual abuse and exploitation of children (OSAEC), where traffickers livestream the sexual abuse of minors in exchange for payments wired from abroad, often from Australia, Canada, the United Kingdom, the United States, and other European countries.

IJM’s Rebelander Basilan explained how OSAEC works: there are two perpetrators-locals who have access to children and offenders from abroad who would pay to ‘direct the kind of sexual abuse to be inflicted on the child.’

The abuse is livestreamed with payments sent via money transfer services.

‘We have a very well established money transfer system and that’s also being taken advantage of by these offenders to exchange money for the abuse of a child, a Filipino child,’ Basilan said. He also noted that online payments have minimal safeguards.

IJM’s 2022 study estimated that nearly half a million Filipino children were trafficked to produce new sexual exploitation material.

Basilan said it is ‘relatively very easy’ to livestream abuse, requiring only internet access and a device like a smartphone.

For 10 straight years, the Philippines has maintained its Tier 1 status in the US Department of State’s Trafficking in Persons Report, meaning the government meets the minimum standards to combat trafficking.

The latest report, released last week, noted that Philippine law enforcement had made numerous subpoenas and financial transaction requests under the amended antitrafficking law of 2022, which also imposed additional obligations on internet companies to provide information to authorities.

But DOJ spokesperson Jose Dominic Clavano IV said the law is not being fully enforced. ‘The problem is, these are international companies, and there’s a lot of internal bureaucracy and red tape that allow them to continue their practices even with government pushback,’ he said. Justice Undersecretary Nicholas Ty said President Marcos has expressed openness to banning platforms that enable such crimes.

But Ty cautioned that his would need careful study. For now, he said, the government is focusing on requesting takedowns of explicit materials, increasing capacity awareness, and forging more partnerships in the international community.

DOH: 400 ‘idle’ facilities were already probed

The Department of Health (DOH) has actually been investigating the 400 ‘idle’ health centers under the agency’s Health Facilities Enhancement Program (HFEP), DOH Secretary Teodoro Herbosa claimed on Sunday.

‘Actually, the DOH has been investigating these anomalies way before media picked it up,’ Herbosa said, without specifying any of the findings of the supposed investigations.

During a congressional budget hearing earlier this year, Herbosa said the health centers under the HFEP could be considered the DOH version of the flood control projects of the Department of Public Works and Highways.

The HFEP, launched in 2008, is the DOH’s banner program that aims to ensure that poor and marginalized communities have access to health-care services.

‘Several actions have been taken already, and we continue to do case buildup,’ Herbosa added, again without providing details.

Herbosa made the remarks to expound on the replies of Health Assistant Secretary and spokesperson Albert Domingo during an online interview.

When asked what actions have been taken in relation to the investigation, Domingo said, ‘They are actions meant for mandated investigative bodies and the formal courts of law.’ Findings still under wraps

‘The DOH will disclose them at the appropriate time and before the appropriate legal forum,’ Domingo told reporters in a Viber group chat.

But Herbosa also suggested that the DOH has been ‘looking for options to operationalize nonfunctioning completed health facilities.’

Akbayan Rep. Chel Diokno initially questioned why only 200 out of 600 health centers under the HFEP are functional despite being allocated over P170 billion in the past decade.

However, budget sponsor and Bataan Rep. Albert Garcia clarified that while the HFEP has no ‘ghost hospitals,’ the lack of personnel and health-care professionals to run the facilities made them nonfunctioning.

Garcia also said that the DOH entered into a memorandum of agreement with local governments in ‘good faith,’ as it expected them to provide personnel.

But further discussion of the health facilities was overtaken by other controversies confronting the DOH.

Iloilo Rep. Janette Garin, a former health secretary, particularly questioned Herbosa’s other programs, like the P1-billion proposed budget for the beautification of DOH offices, the P458-million research fund for the DOH, and its planned P7.5-million donation to the World Health Organization (WHO) over three years to other programs.

Garin took special notice of the DOH beautification projects and the WHO donation, saying the funds for these should instead be used for patient care and subsidies for the universal health-care program or to hire more doctors and nurses. ‘The President wants zero-balance billing, while hospitals are asking for bigger funds. But how did [this] pass through the Department of Budget and Management-that there is about P1 billion intended not for hospitals and rural hospitals, but for ‘beautifying’ DOH offices?’ Garin asked.

Marcos says solid cases needed in flood works probe

Despite the strong public clamor to jail all those involved in the flood control scam, President Ferdinand Marcos Jr. cautioned against a rushed and haphazard investigation into the scandal to ensure that cases filed are backed by concrete evidence.

Mere accusations and testimonies, even those made in congressional hearings, would not lead to convictions if they do not come with proof, Marcos said.

‘We know many of these people are not innocent. But if you’re going to bring them to court, you must have a very strong case,’ the President told Philip Cu-Unjieng of the Manila Bulletin in an interview to be shown on his ‘BBM Podcast,’ scheduled to begin Monday. A teaser of the latest episode of the podcast was released by the Presidential Communications Office on Sunday.

‘Look, this is what can happen. We rush the investigation. Our evidence is not complete. Our evidence is muddled. But we still go ahead with the filing of the case. The result: We lose the cases. Can you imagine that?’ the President said. ‘I think that would be much, much, much worse.’

The President created the Independent Commission for Infrastructure (ICI) last month to investigate all anomalous government infrastructure works, particularly ‘ghost’ and substandard flood-control projects in the past 10 years. Almost a month after the fact-finding body’s three members were appointed, the ICI has conducted numerous closed-door hearings and summoned various officials and contractors linked to the scam. The commission will recommend the filing of charges based on its findings.

In a previous episode of his podcast, the President vowed to go after the ‘big fishes’ in the corruption scandal once the ICI investigation is completed. /cb

Reforms averted N70trn currency printing through Ways and Means -PCFPT Chairman

The Presidential Committee on Fiscal Policy and Tax Reforms (PCFPT) has revealed that without the ongoing economic reforms introduced by President Bola Tinubu’s administration, Nigeria would have been forced to print as much as N70 trillion through the Ways and Means window – a move that could have devastated the economy.

Chairman of the committee, Taiwo Oyedele, made this known during an interactive session with journalists and public analysts in Lagos on Friday. He emphasised that the administration’s fiscal and monetary reforms have helped to avert a potential economic catastrophe while restoring discipline to government spending.

‘Without the current reforms, we would not have been able to buy fuel. Dangote Refinery would not have come on board. Without the reforms, the trade deficit would have expanded, the tax-to-GDP ratio would have crashed, and the government would have printed between N60 trillion and N70 trillion,’ Oyedele stated.

He noted that under the current administration, Nigeria no longer prints naira to fund spending, even as the economy continues to feel the effects of excessive monetary expansion under the previous government.

Between 2015 and 2023, the Central Bank of Nigeria (CBN) reportedly printed over N30 trillion through Ways and Means advances to fund budget deficits during former President Muhammadu Buhari’s tenure – a practice widely blamed for stoking hyperinflation and worsening poverty levels.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who also spoke at the event, said inflationary pressures are now easing due to the administration’s efforts to restore macroeconomic balance.

‘We talked about inflation, and we have helped to solve that. Where did it come from? It came from eight years of just printing money not matched by productivity,’ Edun explained.

‘It’s not like when you earn dollars and free the naira alongside it – even that’s better. But what we had before was pure monetary indiscipline,’ he said.

According to the National Bureau of Statistics (NBS), Nigeria’s headline inflation rate fell to 20.12 percent in August 2025, down from 21.88 percent in July – marking the fifth consecutive month of disinflation.

The NBS also reported that the economy grew by 4.23 percent year-on-year in Q2 2025, up from 3.48 percent in Q2 2024 and 3.13 percent in Q1 2025, largely driven by a rebound in the oil sector and increased non-oil activities.

Since assuming office on May 29, 2023, President Tinubu has rolled out major reforms, including the removal of fuel subsidies and the liberalisation of the foreign exchange market. These moves, though initially painful, have been credited with stabilising the fiscal environment and attracting renewed interest from foreign investors.

Oyedele noted that the fiscal reforms also aim to boost tax revenues, improve compliance, and ensure that public spending is tied to productivity and infrastructure development.

‘We have to magnify our tax revenue to fund infrastructure and spur economic growth. That’s the only sustainable path forward,’ he said.

In line with improving macroeconomic conditions, the Central Bank of Nigeria’s Monetary Policy Committee (MPC) recently reduced the benchmark interest rate to 27.00 percent, marking the first rate cut in 2025 after three consecutive holds.

Analysts say the combination of fiscal discipline, disinflation, and cautious monetary easing is setting the stage for a more stable growth trajectory – one that avoids the pitfalls of excessive deficit financing through unchecked money printing.

With reforms now showing measurable progress, both Oyedele and Edun stressed that continued policy consistency will be critical in consolidating the gains made and ensuring Nigeria’s economic recovery remains on track.

Cardoso harps on proper cryptocurrency regulation

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has called for a structured and collaborative framework for cryptocurrency regulation in Nigeria, emphasizing that the nation stands to gain significantly from the global digital asset boom-if properly managed.

Speaking at the inaugural CBN Governor’s Lecture Series held at the Lagos Business School (LBS) on Friday, Cardoso reflected on the rapid evolution of digital currencies and the regulatory loopholes that allowed crypto trading to grow largely unchecked in previous years.

He noted that Nigeria has become one of the leading markets for digital asset transactions in the world, with citizens trading billions of naira worth of crypto assets annually. However, he cautioned that the sector’s potential can only be maximized through a clear, transparent, and enforceable regulatory roadmap.’Nigerians can indeed benefit from the crypto revolution, but it must be under a properly regulated environment,’ Cardoso said. ‘Our goal is to foster innovation while maintaining financial stability and protecting investors.’

The CBN governor disclosed that the apex bank, in collaboration with the Securities and Exchange Commission (SEC), is developing a comprehensive framework to govern the use of digital currencies and crypto-based financial products.

The initiative, he explained, seeks to balance innovation with the safety and soundness of the financial system.

Industry experts project that a well-regulated crypto market could attract up to $15 billion in foreign direct investment, enhance financial inclusion for millions of unbanked Nigerians, and drive economic diversification amid fluctuating oil revenues.

Cardoso said the CBN-SEC collaboration would focus on strengthening oversight, fostering transparency, and mitigating riskssuch as money laundering and terrorism financing. He added that regulated crypto could also boost stablecoin adoption, citing examples of local platforms already leveraging digital tokens to accelerate payments and settlements.

As Nigeria deepens its transition toward a digitally driven economy, Cardoso reaffirmed the CBN’s commitment to creating an ecosystem where innovation thrives under prudent regulation.

‘By embracing proper regulation, Nigeria can unlock its fintech potential and position itself as a continental leader in digital finance,’ he stated.