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 …
A six-month extension sparks debate over governance, succession and the President's strategy ahead of 2027 President Bola Ahmed Tinubu's decision to extend the tenure of the Comptroller-General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi, by six months has ignited fresh debate over governance, institutional succession, and the exercise of presidential discretion as …
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 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 …
Nigeria's solid minerals exports rose to N354 billion in 2025, reflecting significant growth driven by ongoing reforms aimed at repositioning the mining sector as a major contributor to the nation's economy. The Executive Secretary and Chief Executive Officer of the Solid Minerals Development Fund (SMDF), Hajiya Fatima Shinkafi, disclosed this while delivering the maiden Annual …
The Anambra State Government has introduced the Voluntary Assets, Income Declaration and Tax Regularisation Scheme (VAIDS), giving individuals, businesses and organisations a limited window to regularise their tax records without facing the full penalties for non-compliance. The tax amnesty programme, which runs from July 6 to September 5, 2026, is designed to encourage voluntary tax …
Nigeria's economy is expected to maintain steady growth through 2027 as recent reforms continue to strengthen macroeconomic stability, according to the International Monetary Fund (IMF). The Bretton Woods Institution, however, warned that rising food and energy costs, worsening poverty, election-related pressures and weak participation in the global artificial intelligence (AI) boom could threaten the country's …
The Office of the Accountant-General of the Federation (OAGF) has said the controversial Presidential Foreign Intervention Promotion Council (PFIPC) has neither an operational account with the Central Bank of Nigeria (CBN) nor received any public funds, despite being listed with a ₦1.3 billion allocation in the 2026 appropriation act. The clarification comes amid growing concern …
The Nigerian Shippers' Council (NSC) has disclosed that it protected more than N90.60 billion and $1.348 million in economic value for Nigerian shippers and the national economy through regulatory oversight, dispute resolution and reforms aimed at reducing the cost of doing business at the nation's ports. The Executive Secretary and Chief Executive Officer of the …
