Economy

Nigeria’s annual infrastructure spending is projected to grow by 77 percent to $40 billion by 2050, reinforcing its position as Africa’s largest infrastructure market and placing it 23rd globally, according to a new report by PwC. The projections are contained in PwC’s Global Infrastructure Outlook, which also estimates that Nigeria’s investment in the power sector […]

Flutterwave, ASIF Partner to Boost Youth Entrepreneurship, Financial Inclusion Flutterwave and Activate Success International Foundation have announced a strategic partnership aimed at advancing youth entrepreneurship, digital financial inclusion, and enterprise development across Nigeria. The collaboration is anchored on the 2026 edition of the Youth Entrepreneurship and Empowerment Programme (YEEP), bringing together both organisations in a

Nigeria is set to receive €33 million from a €235 million humanitarian assistance package announced by the European Commission to support vulnerable populations across West and Central Africa. The funding was disclosed in a statement issued by the Press and Information Officer of the EU Delegation to Nigeria and ECOWAS, Modestus Chukwulaka, who said the

Polysmart Packaging Group has recorded a strong wave of investor confidence following its recent $60 million expansion, further cementing its position within Nigeria’s growing green economy. The expansion, which established the company as the operator of one of the largest and most advanced recycling plants in West Africa, has been followed by a major financing

Transcorp Power Plc has announced a total dividend payout of ₦41.2 billion to shareholders following a strong financial performance for the 2025 financial year. The declaration was approved at the company’s 13th Annual General Meeting (AGM) held at the Congress Hall of Transcorp Hilton Abuja, where shareholders also endorsed the audited financial statements for the

Lagos State has emerged as the most indebted state in Nigeria, with a combined domestic and external debt profile of N1.22 trillion and $1.17 billion respectively as of the fourth quarter (Q4) 2025. This was disclosed by the National Bureau of Statistics (NBS) in its latest report on Nigeria’s domestic and external debt for Q4

The Nigeria Revenue Service has cautioned Nigerians against a misleading online infographic promoting a fake website and falsely claiming the introduction of a new vehicle tax. The warning was issued in a statement by the agency’s spokesperson, Mr Dare Adekambi, amid rising concerns over misinformation surrounding tax policies and government directives. According to the NRS,

The Nigerian Exchange (NGX) ETF segment recorded a broad-based downturn in the week ended April 24, 2026, as all listed Exchange Traded Funds (ETFs) closed in negative territory, reflecting weak investor sentiment and sustained sell pressure across the market. Data from NGX trading activity showed that despite an increase in total trading volume, the overall

Nigeria’s defence expenditure recorded a sharp increase in 2025, rising by 55% year-on-year to $2.1 billion, as worsening security challenges across the country drove higher military spending, according to a report by the Stockholm International Peace Research Institute. The report ranks Nigeria among the fastest-growing military spenders globally, underscoring how internal security pressures are reshaping

The Nigerian Exchange Limited has levied a total of N562.6 million in penalties on 32 listed companies for failing to meet deadlines for submitting audited and unaudited financial statements during the 2024/2025 financial year. The sanctions were disclosed in the latest X-Compliance Report released on April 24, 2026, by NGX Regulation Limited, highlighting cumulative penalties