Tinubu Pledges Continuation of Nigeria Economic Reforms as World Bank Applauds Policy Consistency
President Bola Ahmed Tinubu has reiterated that there is “no turning back” on Nigeria’s economic reform agenda, even as the…
Category: Economy
New Tax Reforms Set to Boost Nigeria’s Global GDP Share, Says Abdullahi Hashim
Nigeria’s recent tax reforms are positioning the country as a rising contributor to the global economy, with the International Monetary…
Nigeria Targets 7% Economic Growth by 2028 Through Structural Reforms, Says Finance Minister
Nigeria is positioning itself for stronger economic growth, with the Federal Government targeting a 7% expansion of the nation’s GDP…
NESG Appoints Transcorp CEO and Shell Executive to Strengthen Private-Sector Leadership
The Nigerian Economic Summit Group (NESG) has named two leading figures from the energy and corporate sectors to its Board…
FG Raises N1.5 Trillion in 2026 First Bond Auction Amid Strong Investor Demand
The Federal Government of Nigeria raised a total of N1.5 trillion in its first bond auction of 2026, signaling strong…
NNPC Remittance to FAAC Plunges 86%, Deepening Nigeria’s Oil Revenue Crisis
Nigeria’s oil revenue experienced a dramatic decline in 2025 as the Nigerian National Petroleum Company (NNPC) delivered only N604.61 billion…
Nigeria Oil Exports to Drop as Bonga FPSO Undergoes Scheduled Maintenance
Nigeria’s oil exports will decline sharply in February as production from the Bonga Floating Production Storage and Offloading (FPSO) facility…
Nigerian Manufacturers Face 21% Surge in Energy and Raw Materials Costs
Eight major Nigerian manufacturing firms spent a combined N1.01 trillion on energy and raw materials in the nine months ending…
FG Disburses N2.45 Trillion to States for Infrastructure and Security Projects
The Federal Government (FG) has disbursed a total of N2.45 trillion to Nigeria’s 36 states and the Federal Capital Territory…
Oil Cash, Foreign Inflows Lift Nigeria’s External Reserves by $66m as Naira Hits Two-Year High
Nigeria’s external reserves recorded a modest rebound in January, rising by $66 million as stronger oil prices and renewed foreign…
Nigeria Hosts World Bank Talks to Drive Jobs, Investment and Economic Growth
Nigeria is hosting senior World Bank officials this week as part of renewed efforts to accelerate economic growth, attract investment,…
Nigeria’s N58.4 Trillion Budget Passes Second Reading as Senate Tackles Electoral Act Reforms
The House of Representatives has passed President Bola Tinubu’s N58.4 trillion 2026 budget through its second reading, surprising many observers…
US Fed Holds Interest Rate at 3.5–3.75% to Stabilize Jobs and Tame Inflation
The United States Federal Reserve has decided to keep its benchmark interest rate steady at 3.5–3.75%, citing the need to…
FG’s N9tn Surge in Domestic Loans Crowds Out Private Sector Credit in 2025
Nigeria’s Federal Government sharply increased its domestic borrowing in 2025, drawing N9.19tn from financial institutions, data from the Central Bank…
Nigeria Targets $30 Billion Trade with China by 2030 Through Strategic Partnership
Nigeria is setting its sights on a major expansion of trade with China, aiming for a bilateral trade volume of…
$21bn Capital Inflows Signal Nigeria’s Post-Oil Economic Turning Point
Nigeria may be entering a long-awaited phase of economic recovery, as fresh data points to a decisive shift away from…
Naira Strengthens Below N1,400/$ as Official FX Market Records Fresh Gains
Nigeria’s naira has broken below the N1,400-to-the-dollar threshold on the official foreign exchange market for the first time in more…
AfCFTA SG: How Africa Can Thrive in the New Global Economy
The global economic landscape is undergoing a profound transformation, with rising protectionism and trade barriers reshaping traditional markets. Speaking at…
Nigeria Eyes $400 Billion Commodities Market Through UAE-LCFE Partnership
Nigeria is positioning itself as a key gateway to Africa’s $1 trillion commodities market, aiming to capture $400 billion in…
Tinubu Urged to Intervene as Nigeria Commodity Exchange Faces Imminent Collapse
Workers of the Nigeria Commodity Exchange (NCX) have appealed to President Bola Ahmed Tinubu to urgently intervene and prevent what…
Naira Strengthens to ₦1,400/$ as Weaker US Dollar Lifts Emerging Markets
Nigeria’s naira continued its upward momentum midweek, appreciating to around ₦1,400 per dollar at the official foreign exchange market, as…
Nigeria’s Tax Committee Strengthens Stakeholder Engagement for Smooth Implementation of New Tax Laws
The National Tax Policy Implementation Committee (NTPIC) has intensified efforts to ensure the effective rollout of Nigeria’s newly enacted tax…
BUA Cement Expands Sokoto Plant with $240M Investment to Boost Production
BUA Cement Plc has announced a $240 million investment to expand its Sokoto cement plant, introducing a modern 3-million-tonne-per-annum production…
Erdogan Eyes $5 Billion Nigeria-Türkiye Trade Deal During Tinubu Visit
During Nigerian President Bola Tinubu’s state visit to Türkiye, President Recep Tayyip Erdogan announced that his country is targeting a…
Nigerian Firms Secure $2.5bn in World Bank Contracts, Rank Fifth Globally
Nigerian companies have secured more than $2.5 billion worth of World Bank–financed contracts, placing the country fifth globally among beneficiaries…
Ghana Treasury Bill Auction: Gov’t Raises GH¢12.83bn as 364-Day Rates Hit 13.06%
Ghana’s government successfully raised GH¢12.83 billion in its latest Treasury bill auction, surpassing expectations as investor demand for short-term government…
Nigeria’s Debt Crisis Deepens: Budget Deficit Hits N23.85 Trillion Amid Rising Borrowing
Nigeria’s public debt burden has escalated dramatically over the past decade, with the budget deficit soaring from N2.2 trillion in…
US Records $1.45 Billion Trade Surplus with Nigeria Amid Export Growth and Tariff Shifts
The United States has reversed last year’s trade deficit with Nigeria, recording a $1.45 billion goods trade surplus in the…
Tax Reforms Leave Workers Cold as Salary Increases Fall Short
Many Nigerian workers say the much-publicised Personal Income Tax (PIT) reforms have brought little relief to their finances, with only…
Nigeria’s New Tax Law Tackles Double Taxation and Boosts Digital Economy Compliance
The Federal Government of Nigeria has unveiled new tax measures aimed at curbing double taxation, expanding the tax net, and…