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.
Category : Economy
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.
HFN Praises Senate for Pro-Health Tax Bill Passage
The Healthcare Federation of Nigeria commends the Senate for passing a bill replacing flat-rate excise duty on sugary drinks with a retail price-based levy, aiming to improve health financing.
NERC Approves Compensation for Band A Power Customers
NERC has approved compensation for Band A electricity customers affected by supply shortfalls due to gas shortages and vandalism. DisCos must credit eligible customers by June 2026.
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NERC Orders Compensation for Band A Customers Over Poor Supply
NERC has approved compensation for eligible Band A electricity customers who suffered poor power supply between February and March 2026 due to gas shortages and grid constraints.
Naira Hits Three-Week High as Reserves Near $50 Billion
Nigerian naira strengthens to N1,357.26 per dollar, marking a three-week high, as FX reserves approach $50 billion, boosting market confidence.
NEPZA, 20 MDAs to Join FG Revenue Optimisation Platform
NEPZA and 20 other MDAs commit to adopting RevOP and FTe-R platforms to enhance transparency in federal financial operations, with 31 agencies already live.
Oil Shock May Cost $3 Trillion in Wages by 2027
ILO warns prolonged oil shock could cut 38 million jobs in 2027 and $3 trillion in wages, urging human-centered AI policies.
Nigeria's Economic Challenges Persist Amidst Policy Shifts
Nigeria faces ongoing economic difficulties as new policies aim to stabilize the naira and curb inflation, but experts urge more structural reforms.
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Nigeria, African Leaders Woo UK Investors at LSE
Nigeria and African leaders promote investment ties at LSE. Minister highlights talent economy as external reserves rise by $1.22 billion in May 2026.
NATEP Records Policy Reforms and Global Partnerships
One year after its relaunch, NATEP has achieved key policy reforms, launched global partnerships, and positioned Nigeria as a leader in services export.
Nigeria's Capital Importation Hits $10.37bn in Q1 2026
Nigeria's capital importation rose to $10.37 billion in Q1 2026, an 83.83% increase year-on-year, but FDI remained low at 1.30%, according to the NBS.
Uganda Leads Africa in Alcohol Consumption: Top 10 List
A 2026 Data Commons report reveals the top 10 African countries with the highest alcohol consumption per capita, with Uganda leading at 11.30 litres annually.
Lady Shocked as Cooking Gas Hits N2100 per kg
A Nigerian lady went viral after revealing cooking gas costs N2100 per kg in her area. Social media users react with their own prices and frustrations.
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Naira Gains N5.74 at Official Market, Falls in Parallel
The Nigerian naira appreciated by N5.74 against the US dollar in the official market but depreciated in the black market on June 2, 2026. Mixed performance against other currencies.
Nigeria's large population slows economic reform impact
Presidential aide Daniel Bwala says Nigeria's over 230 million population makes it hard for citizens to feel economic reforms, but growth will be steady.
DisCos Recover N196bn of N246bn Electricity Bills in March
Nigeria's electricity distribution companies collected N196.13 billion in March 2026, representing 79.59% of N246.43 billion billed, leaving a N50.3 billion shortfall.
Student Laments N2,200 per kg Cooking Gas in Lafia
A Nigerian student from Federal University of Lafia laments rising cooking gas price at N2,200 per kg, sparking reactions online.
NATEP Marks One Year with Policy Reforms, Global Partnerships
NATEP achieves major milestones in Nigeria's services export sector, including FEC approval for coordination mechanism and joining WEF accelerator network.
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IMF Warns Against Broad Subsidies Amid Rising Prices
The IMF warns that broad subsidies and price caps worsen inflation and strain budgets, urging targeted cash transfers for vulnerable households instead.
Filling Stations Cut Petrol Prices as Dangote, Depots Reduce Rates
Filling stations across Nigeria reduce petrol prices following Dangote refinery's ex-depot price cut. See new rates in Lagos, Abuja and other cities.
Vulnerable Economies Face $20bn Oil Bill Surge
Global vulnerable economies face $20 billion annual oil import surge as crude prices rise. Nigeria sees 70% petrol hike, impacting transport costs.
Adesina to Chair Botswana Diamonds for Development Fund
Dr. Akinwumi Adesina, former AfDB president, has been appointed Chairperson of Botswana's Diamonds for Development Fund, aimed at economic diversification.
Broke After Pay Day: Author Explores Financial Behavior
Dr Yemisi Adepoju's book 'Broke After Pay Day' examines emotional and cultural patterns behind financial exhaustion, offering practical solutions.
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Nigeria private sector hits nine-month high in May 2026
Nigeria's private sector growth strengthened to a nine-month high in May 2026, driven by output and new orders, despite rising fuel costs and inflationary pressures.
Expanding Tax Net Without Income Growth Risks Trust
Expanding Nigeria's tax net to over 100 million risks eroding public trust without income growth. The government must prioritize job creation and visible benefits.
Dos Santos Built Angola's Oil State; Lourenco Rebuilds It
NJ Ayuk's 'Crude Oil' examines Angola's transition from Dos Santos' patronage system to Lourenco's reform agenda, highlighting institutional rebuilding and oil sector transformation.
Nigeria's Economic Reforms Unavoidable: Finance Minister
Finance Minister Taiwo Oyedele defends petrol subsidy removal and FX reforms as necessary to correct economic distortions, despite short-term pain.
Nigeria Debt Servicing Revenue Strain Social Spending 2026
Nigeria's 2026 budget allocates N15.52 trillion for debt servicing, exceeding health, education, and agriculture combined, raising sustainability concerns.
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Nigeria Needs Supply-Side Reforms, Not Consumption Stimulus
Analysis argues Nigeria's economy requires supply-side reforms like infrastructure investment to boost productivity and create jobs, rather than demand-side policies that risk inflation.
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