Nigeria stands to gain from a stronger and more stable naira, but an excessive appreciation could undermine exports, fiscal revenue, and long-term economic diversification, warns Kazeem Bello, CEO and principal partner of Afrique Capital and Equity Funds Ltd, New York. Bello, a development economist and investment banker, told Pinnacle Daily that Nigerian authorities face a …
Nigeria’s economy showed signs of improving stability in the first quarter of 2026, but rising costs, geopolitical tensions and political risks could undermine progress in the months ahead, the Centre for the Promotion of Private Enterprise (CPPE) has said. In a policy brief issued on Sunday, April 5, its Chief Executive Officer, Dr Muda Yusuf, …
FG Moves to Centralise Revenue Collection, Retains Technical Oversight with the Solid Minerals Ministry The Federal Government has handed over the collection of mineral royalties from mining operators nationwide to the Nigeria Revenue Service (NRS), in a major policy shift aimed at strengthening revenue administration under the new tax laws. The Ministry of Solid …
The Nigerian Naira maintained a relatively stable performance against the United States Dollar on Thursday, April 2, 2026, as improved liquidity and sustained policy support continued to underpin gains recorded at the start of the new quarter. At the Central Bank of Nigeria-regulated Nigerian Foreign Exchange Market (NFEM), the Naira traded at an average of …
Nigeria’s total public debt is projected to rise to ₦155.1 trillion following the Senate’s approval of a fresh $6 billion loan request by President Bola Ahmed Tinubu. The approval, granted within hours, adds about ₦8.4 trillion at an exchange rate of ₦1,400 per dollar to the country’s debt stock, which stood at ₦146.69 trillion as …
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 …
