Economy

President Bola Ahmed Tinubu has instructed key members of his economic team to develop strategies to reduce the impact of the ongoing Middle East crisis on Nigerians, particularly as fuel prices continue to rise across the country. The directive was disclosed in a statement issued by presidential spokesperson Bayo Onanuga after the president addressed a […]

The Presidential Fiscal Policy and Tax Reforms Committee has dismissed reports suggesting that the Minister of State for Finance, Taiwo Oyedele, admitted that Nigeria’s newly introduced tax laws contained errors. The committee described the claims as misleading and a misrepresentation of the minister’s remarks. The clarification was issued in a statement released by the committee

A new report on the financial habits of Nigerians has revealed a concerning trend: more than half of the country’s population does not save money, highlighting a growing savings crisis in Africa’s largest economy. According to the PiggyVest Savings Report 2025, released in March 2026 by PiggyVest, 53 percent of Nigerians do not prioritise saving

The leadership transition at the African Development Bank (AfDB) represents more than a routine change in management—it marks a potentially transformative moment for Nigeria’s economic outlook. As a founding member and the largest shareholder of the institution, Nigeria stands to benefit from the bank’s evolving strategy, which includes an ambitious plan to scale annual investments

Nigeria’s banking sector is entering a stronger phase following a major recapitalisation programme that enabled banks to raise ₦4.65 trillion in fresh capital, significantly boosting their capacity to finance large-scale investments. The initiative, mandated by the Central Bank of Nigeria (CBN), is expected to enhance the resilience of the financial system while positioning banks to

Nigeria’s manufacturing sector generated ₦1.17 trillion in Value Added Tax (VAT) revenue in 2025, according to data released by the National Bureau of Statistics (NBS). The figure represents a notable increase from the ₦803.53 billion recorded in 2024, highlighting the sector’s growing importance to government revenue and its resilience despite challenging economic conditions. Data from

The Managing Director of Legendary Foreshore, Victor Ameh, has warned that escalating tensions involving the United States, Israel and Iran could intensify economic pressures in Nigeria, despite creating short-term gains from rising oil prices. Speaking in an interview with Leadership Newspaper, Ameh said growing geopolitical uncertainty in the Middle East is already unsettling global oil

The Federal Government has inaugurated the newly reconstituted Governing Board of the Nigerian Commodity Exchange (NCX) as part of efforts to strengthen the country’s commodities market and enhance non-oil trade. The inauguration ceremony, which took place in Abuja on Wednesday, marks the beginning of a new leadership phase aimed at repositioning the Exchange for improved

Nigeria’s manufacturing sector contributed a total of N881.29 billion in Company Income Tax (CIT) in 2025, according to the latest data released by the National Bureau of Statistics (NBS). The figure represents a significant increase from the N663.46 billion recorded in 2024, highlighting strong year-on-year growth and underscoring the sector’s expanding role in Nigeria’s revenue

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said recent regulatory reforms have unlocked more than $10 billion in upstream oil and gas investments. The Chief Executive of the commission, Mrs Oritsemeyiwa Eyesan, disclosed this on Thursday in Abuja during the Society of Petroleum Engineers (SPE) Nigeria Council’s Oloibiri Lecture Series and Energy Forum 2026.