Economy

Central to Nigeria’s tax administration system is the Federal Inland Revenue Service (FIRS), now renamed the Nigeria Revenue Service (NRS), which remains the country’s apex tax regulator. The agency generated N7.44 trillion in tax revenue during the first quarter of 2026, placing it at the centre of the Federal Government’s revenue mobilisation drive under President […]

Nigeria’s debt service burden remained elevated in 2025, with new data showing that the Federal Government spent a significant portion of its earnings on servicing debt obligations during the first nine months of the year. According to the 2025 Third Quarter Budget Implementation Report, total debt service payments stood at N12.52 trillion between January and

Nigeria’s total expenditure dropped 41.57% below its prorated budget target in the third quarter of 2025, highlighting continued fiscal pressures despite signs of economic improvement. According to the Federal Government’s 2025 Third Quarter Budget Implementation Report released by the Budget Office of the Federation, total expenditure stood at N8.03 trillion during the period, falling short

Northern Nigeria Flour Mills Plc reported a sharp decline in profitability for the financial year ended March 2026, as weaker sales performance and rising finance costs weighed heavily on earnings. According to the company’s audited financial results filed with the Nigerian Exchange, pretax profit fell by 96.09% to N112.7 million, compared to N2.8 billion recorded

Nigeria has signed a Letter of Intent (LOI) with the African Development Bank (AfDB) to advance the implementation of the $7 billion Integrated Aviation Transformation Programme (IATP), a major continental initiative aimed at modernising Africa’s aviation sector. The agreement was signed on behalf of the Federal Government by the Minister of Aviation and Aerospace Development,

Nigeria’s economy expanded by 3.89% year-on-year in the first quarter of 2026, according to data from the National Bureau of Statistics (NBS). The figure is higher than the 3.13% recorded in Q1 2025 and slightly above the 3.87% full-year growth rate recorded in 2025, suggesting continued economic resilience despite elevated interest rates, inflationary pressures, and

Three years after President Bola Ahmed Tinubu assumed office, Nigeria’s economic direction remains defined by a sweeping reform agenda anchored on fuel subsidy removal, foreign exchange liberalisation, and efforts to strengthen government revenue generation and investor confidence. While the administration points to improved macroeconomic indicators and fiscal adjustments as evidence of progress, many Nigerians continue

  The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5% at its 305th Monetary Policy Committee (MPC) meeting, keeping monetary policy tight rather than shifting toward easing. The committee also maintained other key policy parameters, signalling continued caution around inflation, liquidity conditions, and exchange rate stability. For investors, the

Retail lending in Nigeria declined in January 2026 despite continued growth in consumer and personal loans, reflecting tighter banking system liquidity and cautious credit expansion by deposit money banks. Data from the Central Bank of Nigeria’s January 2026 Economic Report showed that retail loans moderated during the review period, even as consumer credit outstanding rose