The Federal Government has expressed its intention to draw lessons from Indonesia’s rise to a $1.4 trillion economy as Nigeria pursues its own goal of becoming a $1 trillion economy under the administration of President Bola Tinubu. This was disclosed in a statement by the Ministry of Budget and Economic Planning following a courtesy visit […]
$1tr Economy: Nigeria Taps Indonesia’s $1.4tr Model Read More »
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
Nigeria’s Revenue Boom Masks Leak as Deductions Swallow 39% – World Bank Read More »
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
Nigerian Oil Slides Below $95/Barrel on US-Iran Ceasefire Agreement Read More »
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
CBN Targets DFI Recapitalisation to Bridge N130 Trillion MSME Funding Gap Read More »
In a significant development for Nigeria’s capital market, global index provider FTSE Russell has reclassified the country back to Frontier Market status, effective September 2026. The announcement, made in FTSE Russell’s latest Equity Country Classification Interim Review released on Tuesday, April 7, 2026, ends Nigeria’s stint on the Watch List and its previous “Unclassified” (Standalone)
Nigeria Regains Frontier Market Status in Major Boost for Equities Read More »
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
Nigeria Rakes In N161tn in 15 Years as Tax Revenue Overtakes Oil in Fiscal Shift Read More »
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
Forex Pressures, Election Spending Drive $850m Drop in Nigeria’s External Reserves Read More »
