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Category: Economy

Nigeria’s Business Week: NESG Forum, MSME Summit and $50bn Offshore Investment in Focus
BusinessEconomyLocal

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…

byayotilewaAugust 17, 2026
FG Unveils 70:30 Profit-Oil Split to Attract New Deep Offshore Investments
BusinessEconomyLocal

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…

byayotilewaAugust 17, 2026
Nigeria’s Net FX Flow Drops 29% to $4.94 Billion in March 2026
BusinessEconomyFinanceLocal

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…

byayotilewaAugust 17, 2026
CBN Boosts FX Interventions to $953m as Dollar Demand Rebounds
BusinessEconomyLocal

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…

byayotilewaAugust 17, 2026
OPEC: Oil Output, Reforms Sustain Nigeria’s Economic Growth
BusinessEconomyLocal

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…

byayotilewaAugust 14, 2026
Tinubu Vows to Revive Nigeria’s Refineries, Demands Profitable Operations
BusinessEconomyEnergyLocal

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…

byayotilewaAugust 14, 2026
Nigeria’s Oil Production Falls 4% as Hormuz Tensions Raise Fresh Energy Concerns
BusinessEconomyEnergyLocal

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…

byayotilewaAugust 14, 2026
Nigeria’s Oil Output Slips 4% in July but Still Beats OPEC Quota
BusinessEconomyLocal

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…

byayotilewaAugust 13, 2026
Tinubu Explains New Oil Incentives as Nigeria Targets $50bn Deep Offshore Investment
BusinessEconomyLocal

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…

byayotilewaAugust 13, 2026
West Africa Could Unlock $3tn Energy Market by 2035 Through Regional Integration — Expert
BusinessEconomyEnergyInternational

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…

byayotilewaAugust 13, 2026
NRS Tax Reforms Reshape Nigeria’s Economy as Revenue Hits N21.6 Trillion
BusinessEconomyLocal

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…

byayotilewaAugust 12, 2026
Nigeria’s Rising Debt Service Threatens Social Spending as AfDB Raises Alarm
BusinessEconomyLocal

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…

byayotilewaAugust 12, 2026
Nigeria’s reform success hinges on living standard
BusinessEconomyLocal

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…

byayotilewaAugust 12, 2026
Nigeria Can Turn Global Trade Tensions Into Economic Growth, Afreximbank Says
BusinessEconomyLocal

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…

byayotilewaAugust 12, 2026
Nigerians Feel the Squeeze as VAT Adds to Rising Cost of Living
BusinessEconomyLocal

Nigerians Feel the Squeeze as VAT Adds to Rising Cost of Living

Nigerians are increasingly feeling the pressure of Value Added Tax (VAT) as rising prices and a persistent cost-of-living crisis continue…

byayotilewaAugust 12, 2026
Nigeria’s Domestic Debt Service Jumps 20% to N3.14tn as Interest Costs Surge
BusinessEconomyLocal

Nigeria’s Domestic Debt Service Jumps 20% to N3.14tn as Interest Costs Surge

Nigeria’s domestic debt burden is getting more expensive, with debt service rising by 20.3 percent to N3.14 trillion in the…

byayotilewaAugust 11, 2026
FX Reforms Begin to Stabilise Nigeria’s Economy, Says NRS Chairman
BusinessEconomyLocal

FX Reforms Begin to Stabilise Nigeria’s Economy, Says NRS Chairman

Nigeria’s foreign exchange reforms are beginning to reshape the country’s economy, with the Chairman of the Nigeria Revenue Service, Zacch…

byayotilewaAugust 11, 2026
Nigeria’s Consumer Credit Slumps by ₦939bn as High Rates Squeeze Households
BusinessEconomyLocal

Nigeria’s Consumer Credit Slumps by ₦939bn as High Rates Squeeze Households

Nigeria’s consumer credit market has suffered a major ₦939 billion decline, highlighting growing pressure on household spending and raising fresh…

byayotilewaAugust 11, 2026
Fuel Subsidy Could Have Sent Naira to ₦3,500/$, NRS Chairman Says
EconomyEnergyLocal

Fuel Subsidy Could Have Sent Naira to ₦3,500/$, NRS Chairman Says

Nigeria’s fuel subsidy could have ballooned to about ₦53 trillion and pushed the naira exchange rate to around ₦3,500 per…

byayotilewaAugust 10, 2026
Tinubu Backs NGX Push to Expand Capital Market, Attract New Listings
BusinessEconomyLocal

Tinubu Backs NGX Push to Expand Capital Market, Attract New Listings

President Bola Tinubu has thrown his weight behind fresh efforts to expand Nigeria’s capital market, as the Nigerian Exchange Group…

byayotilewaAugust 10, 2026
Nigeria Spends N3.14trn Servicing Domestic Debt in Q1 2026 – DMO
BusinessEconomyLocal

Nigeria Spends N3.14trn Servicing Domestic Debt in Q1 2026 – DMO

Nigeria’s domestic debt bill continued to climb in the first quarter of 2026, with the Federal Government spending N3.14 trillion…

byayotilewaAugust 10, 2026
Nigeria’s Tax Revenue Soars to N27.1tn as Collections Jump 113%
BusinessEconomyLocal

Nigeria’s Tax Revenue Soars to N27.1tn as Collections Jump 113%

Nigeria’s tax revenue has more than doubled in less than three years, climbing from N12.3tn in 2023 to N27.1tn by…

byayotilewaAugust 10, 2026
Fuel Subsidy Cost Nigeria N1.16tn in 2021 as Senate Panel Threatens Auditor-General
BusinessEconomyEnergyLocal

Fuel Subsidy Cost Nigeria N1.16tn in 2021 as Senate Panel Threatens Auditor-General

Nigeria’s fuel subsidy bill hit a staggering N1.16 trillion in 2021, as the Senate’s ongoing investigation into the oil and…

byayotilewaAugust 7, 2026
CBN Survey: Multiple Taxation Remains Nigeria’s Biggest Business Headache
BusinessEconomyLocal

CBN Survey: Multiple Taxation Remains Nigeria’s Biggest Business Headache

Businesses across Nigeria are still struggling under the weight of multiple taxes and levies, despite the Federal Government’s sweeping tax…

byayotilewaAugust 7, 2026
Africa50 Secures $50m to Fast-Track Green Infrastructure Across Africa
BusinessEconomyInternational

Africa50 Secures $50m to Fast-Track Green Infrastructure Across Africa

Africa50 has secured $50m in fresh funding from two international development finance institutions to speed up the development of climate-resilient…

byayotilewaAugust 7, 2026
Ghana’s Inflation Falls to 4.6% as Food Prices Ease, Boosting Economic Recovery
BusinessEconomyInternational

Ghana’s Inflation Falls to 4.6% as Food Prices Ease, Boosting Economic Recovery

Ghana’s inflation rate took a welcome step downward in July, falling to 4.6% from 5.3% in June and marking the…

byayotilewaAugust 7, 2026
IMF Urges Ghana to End Quasi-Fiscal Activities After GH¢22 Billion Gold Programme Losses
BusinessEconomyInternational

IMF Urges Ghana to End Quasi-Fiscal Activities After GH¢22 Billion Gold Programme Losses

The International Monetary Fund (IMF) has called on Ghana to permanently end quasi-fiscal activities after the Bank of Ghana (BoG)…

byayotilewaAugust 6, 2026
Nigeria’s Business Growth Faces New Threat as Rising Costs Stall Investment Plans
BusinessEconomyLocal

Nigeria’s Business Growth Faces New Threat as Rising Costs Stall Investment Plans

Nigeria’s economy is showing encouraging signs of recovery, with businesses recording stronger production, rising demand, and improved profitability across major…

byayotilewaAugust 6, 2026
Tinubu Credits Economic Reforms for Record Profit Growth of NGX Companies in H1 2026
BusinessEconomyLocal

Tinubu Credits Economic Reforms for Record Profit Growth of NGX Companies in H1 2026

President Bola Tinubu has attributed the impressive financial results posted by several companies listed on the Nigerian Exchange (NGX) during…

byayotilewaAugust 6, 2026
Nigeria’s cement firms rake in N3.2 trillion in six months amid price hikes, construction boom
BusinessEconomyLocal

Nigeria’s cement firms rake in N3.2 trillion in six months amid price hikes, construction boom

Nigeria’s cement industry has recorded one of its strongest performances in recent years, with the country’s three largest manufacturers generating…

byayotilewaAugust 6, 2026

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