The International Monetary Fund (IMF) has upgraded Nigeria’s economic growth forecast to 3.9 per cent in 2025, citing, among others, improved appreciation in the exchange rate. It reviewed this in the World Economic Outlook (WEO) unveiled at its ongoing annual meetings in Washington, D.C, on Tuesday, October 14. The projection of 3.9 per cent is …
The International Monetary Fund (IMF) has urged countries to prioritise reducing their debt levels, warning that excessive debt suffocates economies. The Managing Director, Kristalina Georgieva, gave the advice on Monday, October 13 during the civil society organisation (CSO) town hall at the ongoing annual meetings of the World Bank and IMF. She said countries can …
Geregu Power Plc and its counterpart in the generation and sales of electric power, Transcorp Power Plc, saw revenues grow year-on-year to ₦439.97 billion in the third quarter (Q3) of the year. The two-generation companies (GenCos) stated in their unaudited Q3 financial results for the period ended September 30, 2025. Their revenues grew by 30.91 …
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that Africa must remove disincentives to investment to grow revenue. He emphasised this in a post on his X handle on Monday, October 13, to explain what he meant by "The True Cost of Tax". He suggested that it is …
The federal government accounts for N141.08 trillion, or 92.6 per cent, as Nigeria’s total public debt stock rose to N152.4 trillion on June 30, 2025. This is according to the latest disclosure by the Debt Management Office (DMO). A cursory look at the debt office report shows that Nigeria's public debt worsened by N3.01 trillion …
Nigeria's crude oil and condensate production dropped to an average of 1.581 million barrels per day in September 2025. This was revealed in the oil production data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Saturday, October 11. According to a statement signed by Eniola Akinkuotu, head of Media and Strategic Communication, NUPRC, …
As a measure to keep Nigeria's debt-service-to-revenue ratio in check, the Nigerian Economic Summit Group (NESG) has urged the federal government to broaden the non-oil tax base to improve its fiscal position. The Group made the call in its latest ‘Macroeconomic Condition Index (MCI)’ report it published on Wednesday, October 8. It observed that debt …
Abuja residents are reeling under the weight of yet another energy crisis, this time, a sharp hike in both fuel and cooking gas prices that has left filling stations deserted, homes dark, and businesses struggling to survive. Over the past week, the cost of cooking gas in the FCT has surged from around ₦1,020 per …
The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms in Nigeria, Mr Taiwo Oyedele, has said Nigeria would have collapsed economically if President Bola Ahmed Tinubu had not embarked on the key economic reforms around subsidies and the floating of the naira. Oyedele, who made the claims while speaking at the Interactive …
In its quest to strengthen investor confidence in Nigeria's oil and gas sector and boost production, the federal government has slashed the signature bonus by 90 per cent from about $100 million to $10 million. This is as it targets 2.5 million barrels per day by 2027. Chief Executive of the Nigeria Upstream Petroleum Regulatory …
