Business
Reprieve, As Doctors Suspend Planned Strike

A view of the 9th Port Harcourt International Trade Fair, during the opening ceremony at Isaac Boro Park on 22nd November, 2013.
The Nigerian Medical Association (NMA) in Abuja on Sunday announced the suspension its plan for its members to embark on an indefinite strike from Monday.
The President of NMA, Dr Osahon Enabulele, said in a statement that the strike was suspended to allow for full implementation of all elements of the agreement between the association and the government within set time lines.
“Some of the welcome developments in the implementation of the MoU reached between the NMA and the Federal Government of Nigeria include the decision by the Federal Government to redress the gross injustice done to doctors.
Others are the “establishment of a Hospital Development and Intervention Fund for health infrastructure upgrade, appointment of a Surgeon-General of the Federation and expansion of Universal Health Coverage,” Enabulele said.
It would be recalled that the association had embarked on a five-day warning strike from Dec. 18 to 22, 2013, over the demands.
It had announced a plan to proceed on an indefinite strike from Jan. 6 if its demands were not met.
The association had demanded proper funding of health care in Nigeria, provision of a regulatory environment for practice in the health sector and the expansion of universal health facilities to cover all Nigerians.
Others demands are the upgrade of health infrastructure, elimination of fundamental injustices done to doctors in terms of workplace conditions/conditions of service as well as other health sector challenges.
“The NMA convened an emergency National Executive Council meeting in Abuja on Saturday, January 4 to reappraise the efforts made so far to meet its demands.
“The resolve to suspend the strike is as a result of the possible impact of the withdrawal of services by medical and dental practitioners in Nigeria on ordinary Nigerians,” he said.
Enabulele also acknowledged “several honest appeals made by well-meaning people of Nigeria and our friends in the fourth estate of the realm for more time to be given by NMA for dialogue with government.”
He applauded the ongoing efforts and commitment of President Jonathan to address some of the association’s demands.
Business
Private sector gets N2.2tr credit in 30 days — CBN
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
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