President Bola Tinubu has sacked the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as part of a sweeping cabinet reshuffle that also removed the Minister of Housing and Urban Development, Umar Dangiwa. The Secretary to the Government of the Federation, George Akume, announced the changes in a memo on Tuesday. According …
The Sea Empowerment & Research Center (SEREC) has warned that Nigeria’s maritime sector risks losing a significant share of cargo to neighbouring countries due to persistent inefficiencies at its ports. In a policy advisory titled “Maritime Reform at a Crossroads: Data Signals, Export Concerns, and the Urgent Need for Execution Discipline,” SEREC reviewed trends from …
The Centre for the Promotion of Private Enterprise (CPPE) has said the Federal Government’s 2026 fiscal policy measures will significantly reshape Nigeria’s economy by favouring local production while putting pressure on import-dependent businesses. In a policy statement issued on Sunday, April 19, CPPE Chief Executive Officer, Dr Muda Yusuf, said the new tariff and tax …
Nigeria is facing a fresh wave of economic pressures despite recent reforms, as the International Monetary Fund warns of multiple risks that could slow growth and strain public finances in its latest Regional Economic Outlook for Sub-Saharan Africa. The report acknowledges that Nigeria made progress in 2025 through key reforms, but says the country now …
The Nigerian National Petroleum Company Limited (NNPC) saw its profit after tax drop by 64.67 per cent to ₦136 billion in February 2026, down from ₦385 billion in January, despite a 4.2 revenue increase to ₦2.68 trillion. The sharp profit decline came as crude oil and condensate production fell to 1.51 million barrels per day …
Sub-Saharan Africa’s recent economic progress is under fresh threat from rising global tensions, as the war in the Middle East begins to push up prices and slow growth across the region, the International Monetary Fund has warned. Speaking at a press briefing during the IMF Spring Meetings on Thursday, April 16, the IMF Director of the …
Indigenous carriers under the Airline Operators of Nigeria (AON) have issued a warning that they may suspend flight operations from Monday if the Federal Government fails to intervene in the sharp rise in aviation fuel prices. The operators described the increase as “unwarranted,” noting that the price of aviation fuel has surged from about ₦900 …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that Nigeria’s progress in slowing inflation is under serious threat, as rising energy, food and transport costs begin to push prices up again, putting more pressure on households and businesses. In its reaction to the March 2026 inflation report released by the National Bureau …
The Nigeria Economic Summit Group (NESG) has called on the National Assembly to urgently amend key economic laws, including the Nigeria Tax Act 2015, the Petroleum Industry Act (PIA), and the Electricity Act 2023, as part of efforts to strengthen Nigeria’s business environment and attract investment. The call followed the presentation of a policy brief …
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has warned that the global economy is facing rising risks from slowing growth, high debt, and increasing global uncertainty, calling on countries to take urgent and coordinated action. In the IMF’s latest Global Policy Agenda, Georgieva stated that the world is at a critical …
