Singapore
Singapore Inflation Rises to 1.8% in March Amid Middle East Energy Shock
Singapore’s inflation rate climbed in March, reflecting the global ripple effects of rising energy prices triggered by tensions in the Middle East.
Data released by Statistics Singapore on Thursday showed that headline inflation rose to 1.8% year-on-year, up from 1.2% in February, driven largely by higher transport and retail costs.
Core inflation which excludes accommodation and private transport — also increased to 1.7%, compared to 1.4% in the previous month, signaling broader underlying price pressures in the economy.
The most significant spike came from private transport costs, which surged 6.6% year-on-year, up sharply from 2.4% in February, as global fuel prices rose. The increase has been linked to supply disruptions following the crisis involving Strait of Hormuz, a vital route for crude oil and liquefied natural gas shipments.
Global oil benchmark Brent crude initially surged close to $120 per barrel after the disruption before stabilizing near $100, though supply concerns remain due to lingering shipping constraints.
Retail and other goods also saw faster price growth, rising 1.8% in March from 0.6% in February, driven mainly by higher costs for alcohol, tobacco, clothing, and footwear.
Meanwhile, services inflation edged up slightly to 2.1%, supported by increased costs in ride-hailing and telecommunications services.
Food inflation remained stable at 0.6%, with non-cooked food prices holding steady. In contrast, electricity and gas prices declined 4.3% year-on-year, offering some relief to households.
The data underscores how global geopolitical shocks continue to feed into domestic inflation, even in relatively stable economies like Singapore.
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Singapore
Nigerians Eye Singapore as Country Expands Permanent Residency to 40,000 Annually
Thousands of Nigerians are increasingly turning their attention to Singapore after the government announced plans to approve up to 40,000 permanent residency (PR) applications each year. The move is expected to create new pathways for skilled professionals from Nigeria seeking long-term career growth, stability, and global exposure.
The expanded intake comes as Singapore intensifies efforts to address its ageing population and shrinking workforce, positioning itself as a top destination for foreign talent in key sectors such as technology, finance, healthcare, and engineering.
The policy shift is part of a broader strategy to tackle the country’s declining birth rate and shrinking workforce, challenges that have raised concerns about sustaining long-term economic growth in one of Asia’s most competitive economies.
Under the plan, Singapore will approve between 25,000 and 30,000 new citizens each year, building on about 25,000 citizenships granted in 2025. PR approvals are projected to rise to around 40,000 annually from 2026 to 2030, up from roughly 35,000 in 2025.
Officials say the controlled increase in both citizenship and PR intake is designed to maintain a steady pipeline of skilled talent while preserving the country’s population balance. The initiative is expected to benefit professionals from countries like Nigeria, particularly those seeking long-term career opportunities abroad.
Singapore’s PR system remains open to a wide range of applicants, including skilled workers, Employment Pass holders, entrepreneurs, investors, international students, and qualified professionals with stable incomes. Family members of citizens and existing PR holders are also eligible.
Successful applicants gain the right to live and work in Singapore without requiring separate work permits, along with access to public services and long-term residency benefits.
Sectors expected to see increased opportunities include finance, technology, healthcare, logistics, and engineering industries where skilled foreign professionals are in high demand.
The move also aligns with Singapore’s broader labour market reforms aimed at supporting its ageing population. Earlier this year, authorities extended the Part-Time Re-employment Grant until 2027, encouraging companies to retain or hire workers aged 60 and above in flexible roles.
Since its introduction, more than 7,500 employers have participated in the scheme, supporting over 65,000 older workers, with approximately S$92 million already disbursed.
The expanded PR intake signals Singapore’s continued reliance on global talent to sustain economic resilience and productivity in the years ahead.
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