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…
Category: Economy
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 $3tn cumulative energy market by 2035 if the region’s 16 countries move away from fragmented…
NRS Tax Reforms Reshape Nigeria’s Economy as Revenue Hits N21.6 Trillion
Nigeria’s tax system is entering a new era as the Nigeria Revenue Service (NRS) pushes reforms aimed at changing how…
Nigeria’s Rising Debt Service Threatens Social Spending as AfDB Raises Alarm
Nigeria’s growing debt obligations are putting increasing pressure on government spending, with the African Development Bank (AfDB) warning that debt-service…
Nigeria’s reform success hinges on living standard
Nigeria’s economic reforms may be showing signs of progress, but experts and policymakers say the real test is whether ordinary…
Nigeria Can Turn Global Trade Tensions Into Economic Growth, Afreximbank Says
Nigeria and other African economies could turn rising global trade tensions and supply chain disruptions into an opportunity for stronger…
Nigerians Feel the Squeeze as VAT Adds to Rising Cost of Living
Nigerians are increasingly feeling the pressure of Value Added Tax (VAT) as rising prices and a persistent cost-of-living crisis continue…
Nigeria’s Domestic Debt Service Jumps 20% to N3.14tn as Interest Costs Surge
Nigeria’s domestic debt burden is getting more expensive, with debt service rising by 20.3 percent to N3.14 trillion in the…
FX Reforms Begin to Stabilise Nigeria’s Economy, Says NRS Chairman
Nigeria’s foreign exchange reforms are beginning to reshape the country’s economy, with the Chairman of the Nigeria Revenue Service, Zacch…
Nigeria’s Consumer Credit Slumps by ₦939bn as High Rates Squeeze Households
Nigeria’s consumer credit market has suffered a major ₦939 billion decline, highlighting growing pressure on household spending and raising fresh…
Fuel Subsidy Could Have Sent Naira to ₦3,500/$, 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…
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…
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…
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…
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…
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…
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…
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…
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)…
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…
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…
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…