Nigeria Mobilised N15.8trn from Petrol Subsidy Removal in Two Years — Oyedele
Nigeria mobilised N15.8 trillion in resources from petrol subsidy savings between June 2023 and December 2025, Minister of Finance and…
Category: Economy
36 States’ Budgets Surge 47% to N40tn as Capital Spending Share Drops
Nigeria’s 36 states and the Federal Capital Territory (FCT) have significantly expanded their budgets for 2026, with combined spending rising…
FAAC Revenue Jumps 17.8% to ₦4.359tn in July as FG, States, LGs Share ₦3.007tn
The Federation Account recorded a major boost in revenue in July 2026, with gross revenue rising to ₦4.359 trillion, up…
Farmers fear crisis as food inflation hits six-month high
Nigeria’s food inflation has climbed to a six-month high of 20.31 per cent, raising fresh concerns about the affordability of…
Investors Submit N1.73tn as DMO Allots N1.56tn in FGN Bond Auction
Investors showed strong appetite for Nigerian government securities as they submitted bids worth N1.73 trillion at the Debt Management Office’s…
Naira Strengthens as Nigeria’s Foreign Reserves Hit $52.5bn, CBN Says
Nigeria’s foreign exchange market is showing fresh signs of stability as the naira continues to strengthen, with the gap between…
PwC Warns Nigeria’s 30% Capital Gains Tax Creates Offshore Tax Loopholes
Nigeria’s new 30 per cent capital gains tax (CGT) regime could create uncertainty for companies involved in offshore transactions, PwC…
FG, States and LGs Share Record N3.007trn as July Revenue Jumps 18%
Nigeria’s federal, state and local governments shared a record N3.007 trillion in FAAC revenue allocation for July, following a sharp…
NAFEM Turnover Hits $1.41 Billion as FX Market Activity Rebounds
NAFEM turnover surged to $1.41 billion on August 17, 2026, marking its highest level in five weeks as trading activity…
Nigeria’s Net FX Flow Falls 29% to $4.94 Billion in March as Outflows Surge
Nigeria’s net foreign exchange (FX) flow fell by 29% month-on-month to $4.94 billion in March 2026, down from $6.98 billion…
Oil Price Rally Lifts Nigeria’s Earnings in First Half of 2026 – Afreximbank
Nigeria emerged as one of the African countries that benefited significantly from higher global oil prices in the first half…
Food Inflation Hits 20.31% in July as Rising Prices Put Fresh Pressure on Nigerians
Nigeria’s food inflation rate climbed sharply to 20.31% year-on-year in July 2026, reaching its highest level in 10 months and…
FG Offers Nigerians Up to ₦50m Housing Loan at 6% — How to Apply
The Federal Government, through the Federal Mortgage Bank of Nigeria (FMBN), is offering eligible Nigerians an opportunity to finance their…
CBN Faces New Test as Price Stability Raises Pressure to Revive Credit and Economic Growth
Nigeria’s progress in taming inflation and stabilising the foreign exchange market is beginning to create a new economic question: when…
CBN: Nigeria’s IMTO Inflows Hit Record $1.29bn in Q1 2026, Rise 45%
Nigeria’s inflows through International Money Transfer Operators (IMTOs) surged to a record $1.29 billion in the first quarter of 2026,…
Japan’s Oil Crisis Eases, but Soaring Import Costs Keep Economy Under Pressure
Japan’s oil crisis may be showing signs of easing, but the country is still paying a heavy economic price for…
Nigeria’s Business Week: NESG Forum, MSME Summit and $50bn Offshore Investment in Focus
Nigeria’s business landscape is set for a busy week as policymakers, investors, entrepreneurs and industry leaders prepare for a series…
FG Unveils 70:30 Profit-Oil Split to Attract New Deep Offshore Investments
The Federal Government has introduced a major fiscal incentive aimed at attracting fresh investment into Nigeria’s deep offshore oil and…
Nigeria’s Net FX Flow Drops 29% to $4.94 Billion in March 2026
Nigeria’s net foreign exchange (FX) flow fell sharply to $4.94 billion in March 2026, representing a 29% decline from the…
CBN Boosts FX Interventions to $953m as Dollar Demand Rebounds
The Central Bank of Nigeria (CBN) significantly increased its foreign exchange interventions in March 2026, selling $953.41 million into the…
OPEC: Oil Output, Reforms Sustain Nigeria’s Economic Growth
Nigeria’s economic outlook is showing signs of continued improvement, with higher oil production, ongoing government reforms and stronger private-sector activity…
Tinubu Vows to Revive Nigeria’s Refineries, Demands Profitable Operations
President Bola Tinubu has renewed his administration’s commitment to reviving Nigeria’s long-idle state-owned refineries, but made it clear that simply…
Nigeria’s Oil Production Falls 4% as Hormuz Tensions Raise Fresh Energy Concerns
Nigeria’s oil production slipped by four per cent month-on-month in July, highlighting fresh challenges for the country’s fragile production recovery…
Nigeria’s Oil Output Slips 4% in July but Still Beats OPEC Quota
Nigeria’s crude oil production dropped by about 4 per cent in July, ending months of steady growth, but the country…
Tinubu Explains New Oil Incentives as Nigeria Targets $50bn Deep Offshore Investment
President Bola Tinubu has explained why his administration is rolling out fresh incentives and policy directives to revive investment in…
West Africa Could Unlock $3tn Energy Market by 2035 Through Regional Integration — Expert
West Africa could build a $3tn cumulative energy market by 2035 if the region’s 16 countries move away from fragmented…
NRS Tax Reforms Reshape Nigeria’s Economy as Revenue Hits N21.6 Trillion
Nigeria’s tax system is entering a new era as the Nigeria Revenue Service (NRS) pushes reforms aimed at changing how…
Nigeria’s Rising Debt Service Threatens Social Spending as AfDB Raises Alarm
Nigeria’s growing debt obligations are putting increasing pressure on government spending, with the African Development Bank (AfDB) warning that debt-service…
Nigeria’s reform success hinges on living standard
Nigeria’s economic reforms may be showing signs of progress, but experts and policymakers say the real test is whether ordinary…
Nigeria Can Turn Global Trade Tensions Into Economic Growth, Afreximbank Says
Nigeria and other African economies could turn rising global trade tensions and supply chain disruptions into an opportunity for stronger…