The new tax laws expected to take effect from January 1, 2026, have left many Nigerians apprehensive about certain provisions. One of the provisions is the requirement of a tax identification number (TIN), tax identity (Tax ID) and National Identification Number (NIN) before anyone can continue to operate or open a bank account in Nigeria. …
Following the recent report of the consumer price index (CPI), the Special Adviser to the President on Economic Matters, Tope Fasua, believes Nigeria’s headline inflation is headed towards a single-digit figure. Fasua, who appeared on Channels Television’s Morning Brief on Tuesday, September 16, expressed optimism that the continued drop in inflationary pressure would translate to …
Nigeria’s headline inflation rate continued its downward trend for the fifth consecutive month, easing to 20.12 per cent in August 2025 from 21.88 per cent recorded in July. This represents a 1.76 percentage point decline, according to the Consumer Price Index (CPI) report released on Monday by the National Bureau of Statistics (NBS). The sustained …
Analysts at Financial Derivative Company (FDC) led by economist Bismark Rewane have said Nigeria’s latest trade figures highlight both the fragility of its oil reliance and the potential of its broader economy. In Q2 2025, crude oil earnings slumped by over ₦3 trillion, despite higher production. By contrast, non-oil exports surged 107% to ₦18.4 trillion in the …
Analysts have argued in the recent past that Nigeria’s food crisis is not just a product of violence; it is the consequence of policy incoherence, poor governance, and institutional fragmentation. In July, militants believed to be members of the Lakurawa group launched a raid on Kwallajiya, Sokoto State, resulting in 15–17 fatalities. This attack highlights …
Nigeria has been classified among three sub-Saharan African countries where borrowing costs for governments and businesses have risen in the last five years due to policy weaknesses, unfavourable market conditions, and inflation. Moody’s Ratings, an international rating firm, hinted at this in its latest study, published on Monday, September 15. It stated that Nigeria, South …
The Federal Inland Revenue Service (FIRS) has dismissed claims that Nigerians must present a separate Tax Identification Number (TIN) to open or operate bank accounts. Arabinrin Aderonke Atoyebi, technical assistant on broadcast media to the FIRS chairman, Zacch Adedeji, said Nigeria’s tax framework now integrates with existing national registries. This approach, she explained, makes individuals …
The Centre for the Promotion of Private Enterprise (CPPE) has called for a phased implementation of the shea nut ban to safeguard investors' confidence. Its managing director/chief executive officer, Muda Yusuf, made the call in a statement on Sunday, September 14. "This brief argues for a phased, consultative transition framework to safeguard investor confidence, preserve …
Nigeria spent ₦4.13 trillion on the importation of Premium Motor Spirit (PMS), commonly known as petrol, in the first half of 2025. This is according to data released by the National Bureau of Statistics (NBS). According to the NBS data, Nigeria spent ₦1.76 trillion on the importation of Motor Spirit Ordinary (fuel) in the first …
The Federal Competition and Consumer Protection Commission (FCCPC) recovered over N10 billion for consumers after complaints against banks, fintechs, and other sectors. Ondaje Ijagwu, Director of Corporate Affairs, disclosed this on Thursday. The data covers complaints lodged between March and August 2025 via FCCPC complaint platforms. The top ten sectors by complaint volume were: Banking: …
