Economy

Nigeria Rakes In N161tn in 15 Years as Tax Revenue Overtakes Oil in Fiscal Shift

Economy /

Nigeria generated a total of about N161.1 trillion in revenue over a 15-year period, as the country’s fiscal structure gradually shifted away from oil dependence toward a stronger tax-driven system, according to a recent report. The analysis, which reviewed government earnings between 2010 and 2024, showed that oil and non-oil sources contributed almost equally to […]

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Forex Pressures, Election Spending Drive $850m Drop in Nigeria’s External Reserves

Economy, News /

Nigeria’s external reserves have declined by approximately $850 million within a three-week period, as mounting foreign exchange (FX) pressures and increased election-related spending weigh on the country’s financial buffers. Latest data from the Central Bank of Nigeria shows that reserves fell from about $50.03 billion in mid-March 2026 to $49.18 billion by early April, reversing

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