Nigeria’s economic activity continued to grow in March 2026, showing the 16th consecutive month of expansion. This is according to the latest Purchasing Managers’ Index (PMI) report from the Central Bank of Nigeria (CBN). It shows that the composite PMI stood at 53.2 points, reflecting broad-based growth as 31 of the 36 surveyed subsectors reported …
The Senate has passed a ₦68.323 trillion budget for Nigeria's 2026 fiscal year. The approval marked an increase from the initial ₦58.47 trillion proposed. President Bola Tinubu had requested an upward revision of over ₦9.09 trillion to the budget. The fresh request is to accommodate legacy commitments, particularly in the transportation and health sectors, as …
Federal Government bond auction attracted strong investor interest, with total subscriptions rising to about ₦931.5 billion, well above the ₦750 billion on offer in March. Data from the Debt Management Office (DMO) on Tuesday showed that the bulk of the demand came from the 9-year bond, highlighting strong investor demand for government securities. The 9-year …
As compliance remains low, confusion persists over tax filing obligations under the Nigeria Tax Act 2025* With the March 31 deadline only hours away, many Nigerians are still struggling to understand how to properly file their tax returns, exposing a wider gap in awareness and compliance across the country. Despite repeated warnings from the government, …
Global oil prices climbed sharply to nearly $117 per barrel on Monday as tensions in the Middle East intensified, with the United States reportedly considering ground military operations against Iran. The surge follows renewed missile exchanges between Israel and Iran, heightening fears of a broader regional conflict that could further disrupt global energy supplies. Iran …
Despite the windfall recorded in the last two months of 2026 due to a global oil price surge, Nigeria has, however, recorded a loss of about ₦2.2 trillion in projected oil revenue. While Brent crude prices have surged above $100 per barrel, data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reveal that production fell …
The Federal Government of Nigeria plans to raise N750 billion through bond re-opening auctions scheduled for March 30, 2026. The Debt Management Office (DMO) disclosed the offer on Wednesday, noting that the settlement is set for April 1, 2026. According to DMO, the offer consists of a N250 billion 5-year bond at a 17.94 per …
Nigeria attracted $23.21 billion in foreign capital in 2025, marking an 88.5 per cent increase from $12.31 billion recorded in 2024. The National Bureau of Statistics (NBS) disclosed this in its Capital Importation Report for 2025. The data reflects renewed investor interest in the economy. Capital inflows started the year at $5.64 billion in the …
The Centre for the Promotion of Private Enterprise (CPPE) has rejected proposals for additional taxation on sugar-sweetened beverages (SSBs), warning that such a move would worsen cost pressures on businesses, undermine economic recovery, and trigger job losses across Nigeria’s manufacturing value chain. In a policy brief released Tuesday, signed by its Chief Executive Officer, Dr …
The Federal Government (FG) has defended its £746 million ports upgrade deal with the United Kingdom, saying the agreement will deliver strong economic gains for Nigeria. The deal, worth about $997 million, is to upgrade Apapa Port and Tin Can Island Port. These ports handle about 70 per cent of Nigeria’s trade. The Federal Ministry …
