N3tn Capital Flight Claim Faces Scrutiny Over Market Size
Questions arise over claims of N3tn annual capital flight from Nigeria's airtime lending market, estimated at N300bn-N400bn. Industry stakeholders call for transparency.
Category : Economy
Shettima: Private Investment Key to Nigeria's $1 Trillion Economy
Vice President Kashim Shettima says Nigeria's $1 trillion economy goal hinges on private enterprise and reforms, citing Lagos as a model for subnational growth.
Nigeria's Trade Surplus Hits N7.55 Trillion in Q1 2026
Nigeria recorded a trade surplus of N7.55 trillion in Q1 2026, a 340.88% increase from Q4 2025, driven by higher crude oil exports and lower petroleum imports.
CBN to Use AI to Tackle Digital Payment Fraud in Nigeria
The Central Bank of Nigeria plans to use AI under PSV 2028 to strengthen fraud detection and secure digital payments, addressing cyber threats like phishing and unauthorised transactions.
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FG Approves Payments to 1,240 Contractors Nationwide
The Federal Government approved payment of verified debts to over 1,240 contractors across MDAs, prioritizing claims under N100 million to boost small businesses.
Naira Undervalued by 13% Despite FX Reforms: Rewane
Economist Bismarck Rewane says the naira is undervalued by 13.22%, estimating its fair value at N1,193.22/$ versus the market rate of N1,374.92/$.
Healthy Diet Now a Luxury for Nigerians as Inflation Soars
Nigeria's inflation hits 16.06%, making healthy diets unaffordable. Citizens adopt coping strategies amid soaring food prices.
Sanwo-Olu, Oyedele to Headline Invest Lagos Summit
Lagos Governor Babajide Sanwo-Olu and Minister Taiwo Oyedele will lead the Invest Lagos Summit on June 9, focusing on investment, innovation, and sustainable growth.
Nigeria's Fiscal Outlook Constrained by Debt, Oil Output
Nigeria's revenue improved in first nine months of 2025, but debt service costs and weak oil earnings constrain fiscal outlook, with capital spending lagging.
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Cartoon: Nigeria's Economic Woes in Satirical Illustration
A satirical cartoon highlights Nigeria's economic hardships, showing citizens grappling with inflation and unemployment in a humorous yet critical light.
Nigeria Equities Lose N5 Trillion in One Week on Insecurity
Nigeria's equities market shed N4.915 trillion in one week as rising insecurity erodes investor confidence, raising concerns about economic impact.
Inflation Crisis in Nigeria: Mental Health at Risk
Rampant inflation in Nigeria is straining mental health, marriages, and productivity. Experts urge income diversification and prudent spending to survive.
Reform Sequencing in Global South: Nigeria Compared to Others
This article compares Nigeria's economic reforms under Tinubu with Indonesia (1998), Brazil (1994), and India (1991), analyzing sequencing, anchors, and industrial strategy.
Future of Corporate Actions in Nigeria: Speed, Transparency
Coronation Registrars discusses the future of corporate actions in Nigeria, focusing on speed, transparency, and trust to enhance investor confidence and market efficiency.
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NBS: Tomatoes, Onions, Beans Prices Fall Year-on-Year
The National Bureau of Statistics reports that key staples like tomatoes, beans, and onions saw annual price declines in April 2026, while ginger prices increased.
Nigeria mulls refinancing costly debts to cover budget gap
Nigeria's finance minister says the government plans to refinance expensive debt and raise funds for development, citing favorable market conditions and improved investor confidence.
Nigeria Gets Multiple Funding Offers, Minister Says
Nigeria has received multiple funding offers from investors and institutional lenders, Finance Minister Taiwo Oyedele announced, citing favorable market conditions for debt refinancing and development funding.
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Nigeria Among 60 Nations in US Forced Labour Probe
Nigeria is among 60 economies facing possible US tariffs over forced labour concerns. Washington proposes 12.5% tariff on some exports if approved.
UAE Suspends Visas for 3 African Nations Over Ebola
The UAE suspends new visas for nationals of DR Congo, Uganda, and South Sudan due to Ebola concerns, effective immediately.
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Lagos Housing Schemes Exclude 70% of Residents
An investigation reveals that Lagos low-cost housing schemes, costing ₦5-25 million, are unaffordable for 70% of residents earning below ₦100,000 monthly, with strict documentation barriers and high repayment terms.
Engineers Urge Diesel Price Relief for Productive Sectors
Nigerian Society of Chemical Engineers president calls on President Tinubu to provide targeted diesel price relief for productive sectors to curb inflation and prevent economic crisis.
Yenagoa: From Administrative Enclave to Economic Engine
Explore how Yenagoa, capital of Bayelsa State, can transform from a linear administrative hub into a thriving economic engine through strategic urban development and visionary leadership.
Nigeria debt repayment overshoots budget by N1.9tn
Nigeria's debt payments exceeded the 2025 budget by N1.9tn in nine months, consuming 67% of revenue and crowding out capital spending.
Naira Falls Against Dollar Despite Reserves Near 17-Year High
Nigeria's naira weakened slightly to ₦1,358.75 per dollar despite foreign reserves approaching $50 billion, the highest in nearly 17 years, amid ongoing FX demand pressure.
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CITN Steps Up Digital Economy Tax Revenue Capture Efforts
The Chartered Institute of Taxation of Nigeria (CITN) is intensifying efforts to capture tax revenue from the digital economy and curb Base Erosion and Profit Shifting by multinational corporations.
Nigeria Bus Transport Costs Rise Again in April 2026
NBS reports bus fares rose 1.73% month-on-month to N1,397.27 in April 2026, with intercity fares up 21.58% year-on-year, adding pressure on households.
Shenzhen's Infrastructure Lessons for Africa's AfCFTA Industrialisation
Shenzhen's transformation from a fishing village to a global tech hub was built on infrastructure, not tax incentives. Africa must adopt a similar strategy to succeed under the AfCFTA.
Nigeria Capital Importation Hits $10.37 Billion in Q1 2026
Nigeria recorded $10.37 billion in capital importation in Q1 2026, an 83.83% increase from Q1 2025, driven by portfolio investments, NBS reports.
AfDB: Africa can unlock $469bn revenue without tax hikes
African Development Bank says African countries can generate over $469 billion extra annually by improving tax administration, compliance, and efficiency, without raising tax rates.
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Nigeria's Struggle for Survival Amid Economic Reforms
Nigeria faces severe poverty as economic reforms and global conflicts drive up costs. The article highlights the crisis and suggests lessons from Botswana's success.
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