The Federal Government has dismissed claims that it spent more than ₦8 trillion outside the approved budget, insisting that all public expenditure is authorized under the Constitution and laws passed by the National Assembly. In a statement issued on Sunday, the minister of finance and coordinating minister of the economy, Taiwo Oyedele, said recent public …
The Centre for the Promotion of Private Enterprise (CPPE) says Nigeria recorded significant improvements in macroeconomic stability in the first half of 2026. The Centre, however, warned that the second half of the year would test the government's ability to convert those gains into stronger business competitiveness, job creation and higher living standards. CPPE's position …
Nigeria's stock market extended its losing streak for a third consecutive week, with investors shedding another ₦1.8 trillion in value. This is even as trading activity rebounded sharply amid growing caution over upcoming economic events, expectations surrounding the Dangote Refinery listing and the release of second-quarter corporate earnings. For the trading week ended July 3, …
BudgIT has called for an urgent independent investigation into the N1.3 billion allocation to the purported Presidential Foreign Intervention Promotion Council (PFIPC) in the 2026 Appropriation Act. It made the call in a statement on Friday signed by its Country Director, Vahyala Kwaga, warning that the development exposes deep weaknesses in Nigeria's budgeting process and …
The Securities and Exchange Commission (SEC) has granted Approval-in-Principle (AIP) to seven fintech and digital asset firms under its Accelerated Regulatory Incubation Programme (ARIP). The admission allows the firms to operate within the SEC regulatory sandbox as the Commission steps up efforts to support innovation while protecting investors. The approval, announced in a public notice …
For decades, the narrow wooden walkways of Makoko have carried the hopes, struggles, and livelihoods of thousands of residents living along the Lagos waterfront. But after recent demolitions in Makoko, Oko-Agbon, and Sogunro communities, many now face a difficult choice. They must either abandon the fishing settlements where their families have lived and worked for …
Investors on the Nigerian Exchange Limited (NGX) are set for another dividend season in July, with six listed companies scheduled to reward shareholders. Dangote Cement Plc led the July dividend season with a record N753.8 billion payout that signals strong corporate earnings despite a challenging business environment. The cement giant kicked off the dividend payments …
Nigeria's 2026 budget has allocated N1.3 billion to the Presidential Foreign Intervention Promotion Council (PFIPC), despite the Presidency insisting that the council does not exist under President Bola Tinubu's administration. The discrepancy emerged on Wednesday after the Presidency, through a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, maintained …
Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has pledged to prioritise technical and vocational education, establish industrial parks and reform education to drive industrialisation, create jobs and move Nigeria from a consumption-driven economy to a production-based one. Obi made the pledge in a statement issued on Wednesday, outlining what he described as …
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks with effect from July 1, 2026. CBN said the banks failed to meet regulatory requirements for continued operation. It announced the decision in a statement issued on Wednesday and signed by its Acting Director of Corporate Communications, Hakama Sidi-Ali. It …
