Nigeria's total public debt stock has surged by 82.4% over a three-year period under President Bola Ahmed Tinubu’s administration. The country's public debt has become one of the defining economic policy issues that has persisted over time. According to the latest data released by the Debt Management Office (DMO), the national debt expanded from ₦87.38 …
The Nigeria Revenue Service (NRS), in collaboration with the Joint Revenue Board (JRB), has released new guidelines for the taxation of virtual assets, setting out a formal framework for how digital asset activities will be administered and taxed in Nigeria. The guidelines apply to taxpayers, Virtual Asset Service Providers (VASPs), peer-to-peer (P2P) marketplace operators, tax …
Nigeria recorded one of Africa's strongest rebounds in foreign direct investment (FDI) in 2025, according to a new report by the Bashir Adeniyi Centre for International Trade and Investment (BACITI). However, the country's recovery remains heavily dependent on large oil and gas transactions rather than investments capable of creating broad-based jobs, manufacturing capacity and export …
Nigeria’s foreign exchange market recorded a significant boost in July, as total forex inflows climbed to a five-month high of $4.36 billion, driven largely by aggressive Central Bank interventions and a remarkable surge in domestic participation. According to the latest data released by FMDQ, this represents a 31.9 per cent month-on-month increase from the $3.31 …
The Alliance for Economic Research and Ethics (AERE) has urged the Federal Government to overhaul its fiscal strategy, saying Nigeria should shift from a debt-driven model to a revenue-led approach, while citing Anambra State's zero-borrowing policy as evidence that economic development can be achieved without accumulating unsustainable debt. In a policy paper released on August …
WTO DG backs state's $100 million investment fund and urges focus on industrialisation, special economic zones and the blue economy. Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has declared that Delta State has the potential to emerge as Nigeria's next major industrial and economic hub alongside Lagos, urging the state to …
The Nigerian National Petroleum Company Limited (NNPC) sold a total of 136.93 million barrels of crude oil and condensates and generated ₦21.72 trillion in revenue in the first six months (H1) of 2026. These figures are based on analysis of the monthly crude oil and condensate sales and revenues recorded in NNPC’s monthly reports from …
The Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, and the Central Bank of Nigeria Governor, Olayemi Cardoso, have said Africa cannot simply wait for the old world order to return. It has to build the institutions, the trade links and the domestic capital base to compete inside the new one. The two headlined …
As regulators award new acreage under the Petroleum Industry Act, questions remain over whether infrastructure, investment, and operational realities can deliver on the ambitious 2030 output targets. The 3-Million-BPD Ambition For decades, achieving a three-million-barrel-per-day (bpd) target has seemingly remained elusive in Nigeria’s oil sector as the country’s production has been hindered by years …
Nigeria must urgently reduce the cost of production or risk conceding its growing African market to competitors, the Executive Secretary of the National Sugar Development Council (NSDC), Kamar Bakrin, has warned. Bakrin spoke at the technical session of the 17th National Council on Industry, Trade and Investment (NCITI) in Enugu, where he presented what he …
