Nigeria’s inflation rate rose slightly to 15.38 per cent in March from 15.06 per cent recorded in February, as a sharp jump in prices within the month heightened concerns about the cost of living. The latest figures were released by the National Bureau of Statistics on Wednesday. Despite the uptick, inflation remains significantly lower than …
Nigeria’s total public debt rose sharply in the last quarter of 2025 to ₦159.28 trillion, even as the naira strengthened against the US dollar, pointing to increased borrowing rather than currency pressure as the main driver of the surge. The latest figure was released on Tuesday by the National Bureau of Statistics (NBS). It shows …
As conflict in the Middle East enters the second month, there are concerns about the ripple effects on developing economies that depend on imported energy, fertilisers and staple food commodities. For Nigeria, a country already grappling with inflation, currency volatility, and structural inefficiencies, the stakes are particularly high. Rising Costs at the Markets At the …
Nigeria’s fiscal reform programme has reached a defining institutional milestone, with the Minister of State for Finance, Taiwo Oyedele, declaring that the country’s revenue system has been fundamentally restructured for performance, efficiency, and long-term sustainability. Speaking on behalf of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the commissioning of …
The International Monetary Fund (IMF) has lowered Nigeria’s economic growth forecast for 2026 to 4.1 per cent, citing the impact of the ongoing Middle East war on energy prices and global supply chains. The downgrade was announced during the IMF and World Bank Spring Meetings in Washington, D.C., where officials warned that rising fuel costs …
Nigeria’s sweeping fiscal reforms are beginning to yield measurable results, with the Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, declaring that the country has moved from policy intentions to real execution under President Bola Ahmed Tinubu. Speaking at the commissioning of the NRS Corporate Headquarters in Abuja on Tuesday, Adedeji said the …
President Bola Ahmed Tinubu has commissioned the Corporate Headquarters of the Nigeria Revenue Service (NRS) in Abuja, marking a defining moment in the Federal Government’s push to overhaul the country’s revenue generation system. The high-profile ceremony brought together top political leaders, including Senate President Godswill Akpabio, Deputy Senate President Jibrin Barau, Speaker of the House …
As FG slashes duties on food, vehicles, and machinery, experts warn of looming threats to local industries, jobs, and fiscal stability Nigeria’s 2026 fiscal policy is not just a routine economic adjustment; it is a sweeping recalibration of the country’s trade philosophy, one that could either unlock growth or deepen structural vulnerabilities. With a …
The Centre for the Promotion of Private Enterprise (CPPE) has strongly criticised the World Bank’s recommendation that Nigeria should increase the importation of petroleum products and food, warning that such a move could reverse recent economic gains and weaken the country’s push for self-sufficiency. In a statement issued on Sunday, CPPE Chief Executive Officer, Dr …
The Nigerian Government has approved sweeping tariff reductions on key imports, including vehicles, rice, palm oil and sugar, as part of its 2026 fiscal policy aimed at stimulating economic growth and supporting critical sectors. In a circular issued by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Federal Government confirmed …
