FAAC Deductions Consume 41% of N84tn Revenue in Three Years, Shrinking Nigeria’s Shared Income
Nigeria’s rising federation revenue has come with a hidden cost. Although total earnings hit about N84tn over the past three…
Category: Economy
Naira Strengthens to N1,348/$ as U.S. Dollar Slips to Six-Week Low Amid Global Market Shift
The naira appreciated to N1,348 per dollar on Tuesday in the official foreign exchange market, marking a mild but notable…
IMF Cuts Nigeria’s 2026 Growth Forecast to 4.1% as Oil Gains Fail to Offset Global Risks
Nigeria’s economic outlook has taken a cautious turn as the International Monetary Fund (IMF) reduced the country’s 2026 growth forecast…
Nigeria Revenue Service Urged to Leverage Technology for Sustained Revenue Growth and Better Service Delivery
The Nigeria Revenue Service (NRS) has been urged to embrace technology and strengthen institutional efficiency to sustain its recent revenue…
Tinubu 2026 Budget Signing: President Set to Approve ₦68.323 Trillion Nigeria Budget Any Moment
President Bola Tinubu is expected to sign the ₦68.323 trillion 2026 national budget at any moment after it was officially…
Edun Pushes for Lower Borrowing Costs at IMF and World Bank Meetings Amid Rising Global Pressures
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, is heading into the 2026 Spring Meetings of…
Nigeria Crude Oil Production Rises to 1.38mbpd in March 2026 as OPEC Reports Modest Recovery
Nigeria’s crude oil production recorded a slight improvement in March 2026, rising to 1.38 million barrels per day (bpd), according…
UAE and India Lead Ghana Exports in 2025 as Trade Concentration Deepens
Ghana’s export earnings in 2025 were heavily dominated by a small group of international partners, with the United Arab Emirates…
Asia Markets Rise on U.S.-Iran Deal Hopes as China Export Growth Slows
Asia-Pacific markets closed mostly higher on Tuesday as investors held onto cautious optimism that a diplomatic breakthrough between the United…
Dangote Refinery Becomes Net Exporter as Nigeria Boosts Oil Exports in March
In a historic shift for Nigeria’s energy sector, the Dangote Petroleum Refinery & Petrochemicals recorded a major milestone in March…
Nigeria Targets Wealthy Lifestyle Spending to Boost Tax Revenue
Nigeria is stepping up efforts to boost public revenue by targeting wealthy individuals through a data-driven tax monitoring system that…
Global Stocks Rise as Oil Prices Dip After US-Iran Ceasefire Talks Ease Market Fears
Global financial markets ended the week on a mixed but cautiously optimistic note, as stocks rose across major indices while…
CBN Tightens Oversight of Digital Finance Platforms as Nigeria Expands Virtual Asset Regulation
The Central Bank of Nigeria (CBN) has stepped up efforts to regulate the fast-growing digital finance sector, introducing stronger oversight…
FG at final stage of 2026-2030 development plan
The Federal Government has reached the final stage of preparations for the Medium-Term National Development Plan (MTNDP 2026–2030), a key…
Cash Outside Banks Falls to N5.20 Trillion in February 2026 as Nigeria’s Liquidity Cycle Stabilizes
Nigeria’s cash held outside the banking system declined slightly in February 2026, falling by 0.058% to N5.20 trillion, as liquidity…
IMF to Cut Global Growth Outlook as U.S.-Iran Conflict Triggers Economic Uncertainty
The International Monetary Fund (IMF) is preparing to revise down its global economic growth forecast, warning that escalating tensions between…
World Bank Fuel Import Recommendation Sparks Backlash in Nigeria as Expert Cites PIA Violation
An energy economist, Ken Ife, has strongly criticised the World Bank’s recommendation that Nigeria should deepen fuel imports and further…
Federal Government Cuts Palm Oil Import Tariffs by 17% to Ease Food Prices
The Federal Government of Nigeria has reduced import tariffs on crude palm oil by 17 per cent, a move aimed…
Nigeria’s Tax Overhaul Tightens Profit Rules for Insurers, Reshapes Industry Landscape
Nigeria’s insurance industry is entering a new phase of stricter regulation as recent tax reforms redefine how companies calculate profits,…
Intra-African Trade Set to Hit $230bn by 2026 as AfCFTA Drives Growth
Intra-African trade is projected to reach $230 billion by 2026, driven largely by the accelerated implementation of the African Continental…
World Bank Downgrades Nigeria’s 2026 Economic Growth to 4.1% Amid Global Uncertainty
The World Bank has revised Nigeria’s economic growth forecast for 2026 downward to 4.1 percent, reflecting persistent global uncertainties and…
World Bank Flags Fiscal Risks in Nigeria’s N4tn Power Sector Bond
The World Bank has raised concerns over Nigeria’s N4tn bond programme designed to settle long-standing debts owed to power-generating companies.…
Nigeria’s Power Sector Contributes N62.12 Billion in Company Income Tax in 2025 Amid Declining Performance
Nigeria’s power sector contributed N62.12 billion in Company Income Tax in 2025, according to the National Bureau of Statistics (NBS).…
Oil Shock to Drive Nigeria Inflation Up by 3.1 Points, Warns World Bank
Nigeria faces a rising inflation threat as global oil prices surge, the World Bank has warned. In its latest Nigeria…
Nigeria Revenue Deductions Swallow 39% of 2025 Inflows, World Bank Warns
Nigeria’s revenue growth in 2025 is impressive on paper, but the World Bank has highlighted a growing fiscal leak that…
Ghana’s Economic Recovery Shows Promise but Risks Remain, S&P Maintains Stable Outlook
Ghana’s economy is showing signs of recovery, according to a recent report by S&P Global Ratings, which affirmed the country’s…
GenCos Question N3.3tn Power Sector Debt Settlement Amid Delayed Payments
The Federal Government’s renewed approval of N3.3tn to settle long-standing power sector debts has ignited fresh controversy, with power generation…
Nigeria Achieves Fiscal Milestone: Non-Oil Revenue Now 75% of Federation Funds
Nigeria has marked a historic turning point in its economic landscape, as non-oil revenue now accounts for 75 per cent…
Nigeria Shifts to Tax-Driven Revenue Model as Oil Income Plummets by 26% Over 15 Years
Nigeria’s federal revenue landscape is undergoing a historic transformation, with tax and non-oil income increasingly driving government finances. According to…
FG Raises 2026 Borrowing to N29.2 Trillion as Nigeria’s Fiscal Deficit Widens
The Federal Government of Nigeria has raised its borrowing plan for 2026 to N29.2 trillion, reflecting a sharp increase in…