Daily Business Reporter

Nigeria’s improving revenue performance is coming under renewed scrutiny after the World Bank warned that a significant portion of federation income is being absorbed by deductions before reaching federal, state, and local governments, raising concerns about fiscal sustainability. According to the Bank, more than 39 percent of total revenues generated in 2025—amounting to about N14.94 […]

Nigerian crude oil and major global benchmarks plunged below $95 a barrel on Wednesday following Iran’s agreement to temporarily reopen the Strait of Hormuz, a strategic waterway that handles roughly 20% of the world’s energy supply, in exchange for a two-week ceasefire with the United States. Brent crude and West Texas Intermediate (WTI) also fell

The Central Bank of Nigeria (CBN) has outlined plans to recapitalise and restructure development finance institutions (DFIs) as part of efforts to address the country’s widening N130 trillion financing gap affecting micro, small, and medium enterprises (MSMEs). The disclosure was made by the CBN’s Deputy Governor for Economic Policy, Muhammad Sani Abdullahi, during a panel