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 Nigeria Customs Service (NCS) and the African Export-Import Bank (Afreximbank) have strengthened their strategic partnership to accelerate intra-African trade, with both institutions committing to expand trade facilitation initiatives, modernise customs administration and fast-track the implementation of the African Continental Free Trade Area (AfCFTA). The renewed commitment was reaffirmed during a working visit by the …
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 …
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 Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, says Nigeria’s negative perception of government borrowing is undermining economic growth and investment decisions. Speaking in Abuja on Tuesday at the Fellowship Award Ceremony and 2nd Biennial Conference of the Capital Market Academics of Nigeria, Oyedele said public criticism of borrowing often ignores …
Nigeria on Tuesday assumed the chairmanship of the Bureau of the African Continental Free Trade Area (AfCFTA) Council of Ministers Responsible for Trade, declaring that Africa must move beyond policy commitments to measurable economic outcomes that create jobs, strengthen industries and expand opportunities for over 1.4 billion people across the continent. Taking over the leadership …
While the current administration rolls out ambitious tax reforms aimed at widening the net for revenue generation and boosting a historically low tax-to-GDP ratio, there are concerns about an invisible barrier—a deeply entrenched trust deficit. For decades, taxation has remained one of Nigeria's most contentious public policy issues. This, according to analysts, stems from the …
The Alliance for Economic Research and Ethics says Nigerian government and business delegations are losing valuable investment and trade opportunities abroad. The think tank group raised the concern in a policy document, 'The Cultural Key: Why Nigerian Businesses and Government Delegations Fail Abroad – And How to Master the Art of Cross-Cultural Commerce', issued over …
Nigeria’s latest inflation data for May 2026 present a complex and politically sensitive economic picture. The headline inflation is rising, monthly price pressure is slowing, food costs remain structurally high, and regional disparities are widening in ways that are quietly reshaping household survival patterns across the country. According to the Consumer Price Index (CPI) released …
African countries must strengthen domestic revenue collection, improve spending efficiency, and expand alternative sources of financing as foreign aid declines sharply across the region, the International Monetary Fund (IMF) said in a report released on Monday. The IMF warned that official development assistance, which has long been a major source of funding for many countries …
