Investors Shift to State-Led Power Deals in Nigeria’s Electricity Market
Investors are quietly changing how they approach Nigeria’s long-struggling electricity sector, opting for state-led power deals instead of relying on…
Category: Economy
Oyedele’s Fiscal Expertise Will Strengthen Nigeria’s Economy Amid Fiscal Challenges – Mutfwang
Plateau State Governor, Caleb Mutfwang, has praised the appointment of Taiwo Oyedele as a key economic figure in President Bola…
Nigeria Debt Crisis Deepens as Servicing Costs Hit N15.81tn, Sparks Fiscal Discipline Calls
Nigeria’s growing debt burden is once again raising alarm across economic and policy circles, as rising debt servicing costs continue…
Tinubu: CBN Clears Airline Debts to Strengthen Nigeria–UK Aviation Ties and Boost Foreign Investment
President Bola Ahmed Tinubu has said that the Central Bank of Nigeria’s (CBN) move to clear outstanding financial liabilities owed…
FAAC Shares N2.03 Trillion as VAT Revenue Declines Again in March
Nigeria’s Federation Account Allocation Committee (FAAC) has disbursed a total of N2.03 trillion among the federal government, state governments, and…
Nigeria-UK Relations to Boost Investment Opportunities, Tinubu Assures British Envoy
President Bola Tinubu has reaffirmed that Nigeria’s relationship with the United Kingdom will continue to unlock fresh investment opportunities, strengthen…
Nigeria Tax Reform 2025: Stakeholders Address Key Challenges in New Tax System at CITN Conference
The Chartered Institute of Taxation of Nigeria (CITN) has announced that key stakeholders will converge in Abuja for its 28th…
Poor Infrastructure Continues to Weigh Down Intra-African Trade and Regional Integration
Poor and in some cases completely missing infrastructure continues to hold back intra-African trade and slow down regional integration efforts…
Tinubu Reshuffles Cabinet, Names Taiwo Oyedele as Finance Minister in Major Economic Shift
President Bola Ahmed Tinubu has carried out a significant but described “minor” cabinet reshuffle, removing Wale Edun from his role…
African Economies Show Resilience Amid Global Tensions, PMI Data Reveals
Africa’s private sector began 2026 on a stronger note, with most economies showing resilience despite mounting global tensions. According to…
Pension Returns Catch Up with Inflation in Nigeria After Seven Years, Signalling Recovery
For the first time in seven years, pension returns in Nigeria are beginning to match inflation, offering a sense of…
Lagos Tax Filing Deadline, Aviation Crisis, and Policy Shifts: Key Nigeria Business Updates This Week
Nigeria’s business landscape is set for a pivotal week as several major developments unfold between April 20 and April 24.…
Top 10 African Countries with the Cheapest Diesel Prices in April 2026: Niger Leads Low Fuel Cost Rankings
Across Africa, diesel prices in April 2026 reveal a sharp divide between countries able to keep fuel affordable and those…
FG Borrows N100bn from Unclaimed Funds Trust Account as Domestic Debt Hits N80.49tn
Nigeria’s Federal Government has raised N100 billion from the Unclaimed Funds Trust Account, a pool of dormant private funds now…
Nigeria tax reform shifts burden to consumption as FG cuts import duties, raises excise taxes
Nigeria is undergoing a major shift in its fiscal strategy as the Federal Government moves away from heavy reliance on…
IMF Endorses CBN Recapitalisation as Nigeria’s Banking Buffers Strengthen Financial Stability
The International Monetary Fund (IMF) has backed Nigeria’s recent bank recapitalisation exercise, praising the Central Bank of Nigeria (CBN) for…
FG Refutes Claims of Hidden Spending, Says World Bank Report Misinterpreted
The Federal Government has pushed back against claims suggesting there is “hidden spending” within Nigeria’s federation revenues, following interpretations of…
Naira Strengthens to N1,348 Per Dollar Amid US–Iran Tensions and FX Market Pressure
The Nigerian naira continued its steady recovery on Monday, strengthening to N1,348 per US dollar in the official market amid…
CBN Says Economic Reforms Shield Nigeria From Severe Global Shock Impact
The Central Bank of Nigeria (CBN) has stated that its recent economic reforms have played a key role in shielding…
Nigeria Targets $2.3 Trillion Infrastructure Investment Gap with PPP Push
Nigeria is ramping up efforts to close its massive infrastructure deficit, estimated at $2.3 trillion between 2020 and 2043, according…
Nigeria Revenue Service to Launch Rev360 Platform to Transform Tax Administration
The Nigeria Revenue Service (NRS) has announced plans to launch its next-generation revenue administration platform, Rev360, in a move aimed…
Afreximbank profit rises to $1.15bn as assets hit N56.7trn in 2025 financial results
The African Export-Import Bank (Afreximbank) has reported strong financial results for the 2025 fiscal year, posting solid growth in profitability…
NNPCL Faces ₦210 Trillion Audit Query as Nigerian Senate Demands Full Accountability
The Nigerian Senate has intensified its oversight of the Nigerian National Petroleum Company Limited (NNPCL), demanding full accountability over an…
Nigeria Not Seeking IMF Loan — Wale Edun Dismisses Borrowing Speculation
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has firmly stated that the country is not…
N1.8tn Contractor Debt Payments in Nigeria: Reps Signal Imminent Release of Funds
There are strong indications that contractors owed by the Federal Government for capital projects may soon begin receiving payments, as…
2026 fiscal policy eases imports, tightens energy burden
Nigeria’s economy is entering 2026 with a mixed outlook as new fiscal policy measures ease import duties on essential goods,…
Nigeria Taxpayer Base Surges to 100 Million Amid Compliance Concerns Over Revenue Impact
Nigeria’s taxpayer register has expanded dramatically from 10 million to 100 million, marking one of the most significant shifts in…
Nigeria Power Crisis Deepens as 9,536MW Installed Capacity Remains Idle Amid Grid Failures
Nigeria’s electricity crisis has deepened after new data from the Nigerian Electricity Regulatory Commission (NERC) revealed that 9,536 megawatts of…
European Stocks Rise as UK GDP Surges and Iran Peace Talks Lift Market Sentiment
European stocks rose modestly on Thursday as investors reacted to stronger-than-expected UK economic growth and growing optimism around diplomatic efforts…
Snapchat to Lay Off 16% Workforce in AI-Driven Restructuring, Targets $500M Cost Savings
Snapchat’s parent company, Snap Inc., has announced plans to lay off about 16% of its global workforce, affecting roughly 1,000…