Economist, Professor Bongo Adi, has warned that while data show Nigeria's economy is growing, the citizens with harsh economic conditions that continue to impoverish them. Adi stated this while commenting on the World Bank Report released on Wednesday. According to the report, the World Bank has upgraded Nigeria’s 2025 economic growth forecast to 4.2 per …
The World Bank has revealed that despite Nigeria’s recent reform gains, an estimated 139 million citizens still live in poverty. Speaking at the launch of the latest Nigeria Development Update (NDU) report in Abuja on Wednesday, the Bank’s Country Director for Nigeria, Mathew Verghis, commended the federal government for implementing bold macroeconomic reforms, including the …
Nigeria’s economy gained significant momentum in 2024, with Vice President Kashim Shettima, representing President Bola Ahmed Tinubu, announcing a rise in the country’s Gross Domestic Product (GDP) to ₦372.8 trillion, up from ₦309.5 trillion the previous year. President Tinubu described the progress as a clear indication that Nigeria’s fiscal and structural reforms are finally beginning …
The Centre for the Promotion of Private Enterprise (CPPE) has issued a policy brief calling for comprehensive reforms to protect the interests of investors and employers in Nigeria. The document, titled Protecting Investors and Employers: A National Policy Imperative, highlights the urgent need for a more balanced and secure business environment that can foster growth, …
The Central Bank of Nigeria (CBN) has been indicted by the Office of the Auditor-General for the Federation (OAuGF) for failing to remit over ₦4.304 trillion to the Federation Account. According to the 2022 audit report by the OAuGF, the apex bank was listed alongside the Nigerian National Petroleum Company Limited (NNPC Ltd.), the Nigeria …
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 …
Beginning January 1, 2026, Nigerians and foreign residents will no longer be able to open or operate a bank account without a Tax Identification Number (Tax ID), following the enactment of the Nigeria Tax Administration Act, 2025, recently signed into law by President Bola Tinubu. The new Act is part of government efforts to expand …
The Debt Management Office (DMO) has corrected reports that claimed the Federal Government spent N611.71 billion in March 2025 servicing its domestic U.S. dollar bond. The agency said the actual figure for the bond was N67.99 billion. In a statement, the DMO explained that the N611.71 billion represented debt service for all outstanding Federal Government …
Nigeria has entered a new era of billionaire weddings. But instead of celebrating at home, these high-society unions are unfolding abroad, draining billions of naira out of the country. In less than three months, two major weddings, Temi Otedola’s union with Afrobeat star Mr Eazi and Davido’s marriage to Chioma Rowland, have cost a staggering …
President Bola Ahmed Tinubu says Nigeria met its 2025 revenue target as early as August and now has enough resources to run government programmes without borrowing. He described the development as proof that the economy, once shaken by turbulence, is beginning to stabilise. Tinubu made the disclosure yesterday at the Presidential Villa, Abuja, while hosting …
