Nigeria’s plan to generate up to $200 billion in non-oil export revenue over the next five years is facing serious uncertainty as the escalating conflict between Iran and Israel disrupts global shipping routes and drives up logistics costs. Exporters and supply-chain experts warn that the crisis in the Middle East is already inflicting losses on …
The Nigerian government and the United Kingdom have taken steps to update their existing Memorandum of Understanding (MoU) on Migration Management and Returns, in a bid to enhance lawful migration processes, security collaboration, and economic cooperation between both countries. Minister of Interior, Olubunmi Tunji-Ojo, disclosed this during a meeting in Abuja with the British High …
The Federal Government and Japan have launched a $50 million Impact Innovation Fund to support Nigerian startups tackling critical social challenges. This follows agreements signed between the Nigeria Sovereign Investment Authority (NSIA) and the Japan International Cooperation Agency (JICA). The signing ceremony, held at the Ministry of Budget and Economic Planning in Abuja on Friday, …
For more than a decade, Nigeria’s small and medium-scale enterprises (SMEs), the country’s largest employers and backbone of the real economy, have remained largely excluded from formal bank financing, despite repeated policy pledges to support them. An analysis of the Central Bank of Nigeria (CBN) Statistical Bulletin covering 2014 to 2023 reveals a troubling reality: …
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, has revealed that Nigeria’s ongoing tax reforms have exposed him to threats against his personal safety. Oyedele disclosed this on Tuesday in Abuja while speaking at a governance colloquium organised to mark the 50th birthday of Hajiya Hadiza Bala Usman, Special …
The Federal Government, through the Nigerian Ports Authority (NPA), is bolstering the national economy with record trade facilitation, infrastructure upgrades, and operational efficiencies. A new $60 million investment in green port initiatives under President Bola Tinubu’s administration aims to modernise NPA operations and promote local content development. Data from 2025 shows unprecedented growth at Nigeria’s …
Zambia has withdrawn request for a one-year extension of its Extended Credit Facility (ECF) with the International Monetary Fund (IMF), the Fund confirmed on Wednesday with no reason provided for the reversal. The ECF, agreed in 2022, aimed to help Zambia stabilize its finances after defaulting on international debt in 2023. A one-year extension would …
President Bola Tinubu has commended corporate Nigeria, market operators and investors for pushing the Nigerian Exchange (NGX) past the ₦100 trillion market capitalisation milestone. The President described the achievement as a source of inspiration for participants in the money and capital markets. He made the remarks in a statement issued on Thursday by his Special …
The Nigerian National Assembly has experienced a legislative discrepancy, as the Senate and the House of Representatives approved different crude oil price benchmarks for the 2026–2028 Medium Term Expenditure Framework (MTEF). While both chambers agree on many macroeconomic targets, the disagreement over oil prices, which is the major source of Nigeria's foreign exchange earnings, highlights …
Nigeria must move decisively from rhetoric to action if it hopes to tackle poverty, soaring debt, and weak economic growth. That was the stark warning issued by the Economic Advisory Council (EAC) of the Nigerian Economic Summit Group (NESG) during its third quarterly interactive session with journalists and stakeholders in Abuja. At the high-level meeting, …
