NESG Calls for Amendments to Key Economic Laws in Nigeria
The Nigeria Economic Summit Group recommends urgent reforms to the Tax Act, Petroleum Industry Act, and Electricity Act to enhance Nigeria's business environment and attract investment.
Category : Economy
Nigeria's Revenue Soars to N3.6 Trillion Monthly, Coalition Applauds
Nigeria's monthly revenue has surged over 400% from N711 billion to N3.635 trillion, driven by tax reforms. A coalition hails the Nigeria Revenue Service for this fiscal transformation while urging sustained transparency and accountability in public spend
Fintiri Advocates Fair Revenue Sharing as RMAFC Launches Review
Adamawa State Governor Ahmadu Umaru Fintiri calls for a more realistic revenue allocation formula to support states and local governments. RMAFC begins nationwide data verification for an updated system.
Naira Strengthens vs Pound, Euro; Stable vs Dollar in FX Update
The Nigerian naira appreciated against the British pound and euro while remaining flat against the US dollar in official markets. Interbank turnover declined, and external reserves dropped below $49 billion.
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Osun Tops Nigeria's Cheapest States Amid Inflation Rise
Nigeria's inflation rose to 15.38% in March 2026, with state-level data showing Osun as the most affordable at 5.25%. Regional differences highlight how location impacts living costs across the country.
Pipeline Surveillance Contract Upheld, Youth Group Hails Victory
The Ohanaeze Youth Movement welcomes a court ruling that renews Nigeria's pipeline surveillance contract, calling it a major boost for economic stability and the fight against oil theft.
Nigeria's Debt Hits N159.28 Trillion, Raising Funding Risks
Nigeria's public debt has surged to N159.28 trillion, with experts warning of funding risks and sustainability concerns as debt service costs consume revenue and fiscal deficits widen.
Inflation Rises to 15.38% in Nigeria Due to Supply Chain Issues
Nigeria's inflation rate increased to 15.38% in March 2026, driven by global supply chain disruptions from the Israel-U.S.-Iran war, with food inflation at 14.31% and state-level variations highlighting economic pressures.
ILO: Jobs, Democratic Values Key to Economic Stability
The International Labour Organisation emphasizes that decent jobs, labor rights, and democratic participation are essential for building resilient economies amid global conflicts and uncertainty.
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Nigeria Ranks Sixth in Global Outsourcing Talent Index
Nigeria has secured the sixth position in the 2026 Ataraxis Global Outsourcing Talent Index, driven by strong English proficiency and competitive labor costs. The report highlights Africa's rising dominance in the global outsourcing market.
Nigeria Joins Global Platform to Negotiate $11.7 Trillion Debt
Nigeria and other developing economies launch a Borrowers' Platform to tackle $11.7 trillion in debt and $920 billion in annual servicing costs, aiming to strengthen negotiation power and debt management.
Edun: Energy Disruption, Inflation May Stall Reforms
Finance Minister Wale Edun warns that geopolitical strains, energy market disruptions, and inflation could slow reform momentum in developing countries, urging global financial reforms.
Inflation Rises to 15.38% in March, 10 States Top List
Nigeria's inflation rate increased to 15.38% in March 2026, with ten states recording the highest levels nationwide. The National Bureau of Statistics reported persistent price pressures across food and non-food sectors.
Tinubu Explains Tax Law Changes, Highlights Reform Benefits
President Bola Tinubu has outlined the reasons for overhauling Nigeria's outdated tax laws, emphasizing that the new reforms aim to boost transparency, attract investment, and drive economic growth while addressing poverty.
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Presidency Slams Utomi Over 'Ponzi Scheme' Economic Reform Remark
The Presidency has strongly criticized economist Professor Pat Utomi for labeling President Tinubu's economic reforms a 'Ponzi scheme,' accusing him of hypocrisy and citing his past leadership roles at failed institutions.
Presidency Slams Utomi for 'Ponzi Scheme' Economic Reform Remarks
The Presidency has strongly criticized Professor Pat Utomi, labeling his description of President Tinubu's economic reforms as a 'Ponzi scheme' as hypocritical, citing his past roles in failed ventures like Volkswagen Nigeria and BankPHB.
Man's ₦75,480 Receipt for Basic Items Sparks Food Price Outrage
A Nigerian man's viral video showing a ₦75,480 supermarket receipt for bread, milk, Milo, and custard has ignited a national conversation about the unbearable cost of living and rampant inflation.
Tinubu's Plan: Turn Flood Crisis into Economic Opportunity
President Bola Ahmed Tinubu has announced a bold strategy to convert Nigeria's perennial flood crisis into an economic driver, shifting focus from oil to water resources for national growth and food security.
Nigeria's Inflation Hits 15.38% in March 2026, CPI at 135.4
Nigeria's inflation rate rose to 15.38% in March 2026, with the Consumer Price Index reaching 135.4, up 5.4 points from February. Food inflation also increased to 14.31%, reflecting sustained pressure on household spending amid updated NBS data methodolog
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Naira Ranks Second Best African Currency Against Dollar in 2026
Nigeria's naira emerges as Africa's second-best-performing currency against the US dollar in 2026, showing resilience amid global economic turbulence despite foreign-exchange reserves hitting lowest levels since mid-February.
Fuel Prices Rise at Depots and Stations Nationwide
Petrol, diesel, and aviation fuel prices are climbing across Nigeria as global crude benchmarks trade between $99 and $105, with Dangote Refinery offering competitive rates but market pressures persist.
Nigeria's Debt Soars to N159.28 Trillion, N66,250 Per Citizen
Nigeria's total public debt surged to N159.28 trillion by December 2025, with each citizen bearing N66,250. Domestic borrowing rose 14.1%, driven by Federal Government loans, sparking calls for legislative oversight and revenue reforms.
Nepal's Year 2083: Political Stability vs Economic Uncertainty
Nepal begins the new year 2083 with improved political stability after recent elections, but economists warn of economic fragility, weak investment, and structural challenges.
Junaidu Charts Renewed Hope at Investment and Securities Tribunal
Barrister Aminu Junaidu, Chairman of Nigeria's Investment and Securities Tribunal, has transformed the institution in under six months, aligning with President Tinubu's Renewed Hope Agenda through efficient case management and international recognition.
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IMF: Iran War Could Trigger Global Recession
The International Monetary Fund warns that sustained conflict involving Iran could spike oil prices above $100, potentially pushing the world economy toward recession with severe impacts on growth and inflation.
Africa Is No Longer Potential, Declare Mahama and Adesina
Ghana's President Mahama and former AfDB head Adesina urge paradigm shift from dependency to investment-led prosperity, highlighting Africa's growth trajectory and calling for strategic resource management.
Naira Gains to N1,343 as Dollar Liquidity Surges 260%
Nigeria's naira appreciated significantly to N1,343.77 per dollar at the official market following a massive 260% increase in dollar liquidity. Foreign portfolio investments boosted demand while global oil price declines introduced uncertainty for future
Tinubu's Reforms Boost Nigeria's Revenue to N3.6 Trillion Monthly
Nigeria's monthly revenue has soared from N711 billion to over N3.6 trillion under President Tinubu's reforms, according to the NRS boss, while Peter Obi criticizes rising debt as a disaster risk.
IMF Downgrades Nigeria's GDP Outlook, Warns of Risks
The IMF has revised Nigeria's 2026 GDP growth projection to 4.1%, down from earlier estimates, citing global energy market disruptions from the Middle East conflict. The Fund warns of rising inflation and financial pressures.
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Weak Value Addition, Infrastructure Hurt Nigeria's Non-Oil Exports
Industry experts warn that Nigeria's non-oil exports face challenges from weak value addition and infrastructure gaps, limiting global trade opportunities despite record growth in volumes and earnings.
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