Nigeria's state governments are receiving more money than at any other time in recent years, but beneath the surge in revenues lies a growing fiscal concern. While internally generated revenue (IGR) has continued to rise in absolute terms, it is losing ground to the rapid increase in allocations from the Federation Account Allocation Committee (FAAC), …
The federal government has established a high-level Ministerial Advisory Committee (MAC) to provide strategic guidance on Nigeria's fiscal and macroeconomic reforms. This comes as the government seeks to accelerate implementation and ensure that the benefits of ongoing policies reach businesses and households. The committee was inaugurated on Tuesday in Abuja by the Minister of Finance …
High and multiple taxation, insecurity, and elevated interest rates remained the biggest challenges facing Nigerian businesses, according to the Central Bank of Nigeria (CBN). It revealed this in its latest Business Expectations Survey (BES) for June 2026, conducted by the CBN's Statistics Department with responses from 1,900 businesses with a 96.5 percent response rate. The …
Nigeria and the Hong Kong Special Administrative Region of the People's Republic of China have signed a landmark agreement to eliminate double taxation, prevent tax evasion and avoidance, and strengthen trade and investment between both economies. The agreement was signed during a virtual ceremony by Nigeria's Minister of Finance and Coordinating Minister of the Economy, …
The Nigeria Police Force (NPF) emerged as the state institution most frequently linked to civic space violations in 2025, with state actors responsible for almost nine out of every 10 verified incidents recorded during the year. This was revealed in a new report by the Wole Soyinka Centre for Investigative Journalism (WSCIJ), titled 'Silenced Voices, …
The Federal Government has called for stronger cooperation among West African countries to improve tax collection, boost compliance with ECOWAS tax rules, and raise more domestic revenue across the region. The call was made by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, during a meeting with a delegation from the …
The Nigerian stock market entered the second half of 2026 on weaker footing after one of its strongest first-half performances in recent history, raising a critical question for investors: is the recent selloff the start of a prolonged downturn or simply a pause before another rally? Market analysts believe it is the latter. While they …
The Nigerian stock market staged a strong comeback in the trading week ended July 10, 2026, reversing its recent bearish trend as investors added about ₦9.3 trillion to the market's value, driven by renewed buying interest across major sectors and heavyweight stocks. A review of data from the Nigerian Exchange Limited (NGX) showed that the …
Nigeria is approaching a dangerous tipping point of institutional failure, the Alliance for Economic Research and Ethics has warned. It gave the warning in a policy brief titled The Broken Windows of Nigeria: How Government Neglect Forged a Nation of Self-Reliant Survivists—and the Uncommon Path to True Greatness, issued on Friday and signed by its Chairman, …
When Jim Ovia, founder and immediate past chairman of Zenith Bank, said recently that real estate pays more than banking, many saw it as the retirement move of one of Nigeria's most successful entrepreneurs. But his decision points to a broader shift in Nigeria's economy, where inflation, exchange-rate volatility and high borrowing costs are increasingly …
