The Alliance for Economic Research and Ethics has called on the federal government to reject the International Monetary Fund's (IMF) recommendation for new taxes on fuel, telecommunications services, and consumption. In a policy statement released on June 14 by its chairman, Dele Oye, the think tank group warned that such measures would worsen poverty, raise …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that continued reliance on high interest rates to manage Nigeria's economy could undermine investment, job creation and economic growth, despite recent gains in macroeconomic stability. In a statement on Sunday, the chief executive officer of CPPE, Muda Yusuf, said while the International Monetary Fund's …
When Nigeria returned to democratic rule in 1999, ushering in the Fourth Republic, the average citizen earned far less than today but could afford much more with those earnings. At the time, the gross domestic product (GDP) per capita was estimated at $450, the naira exchanged at around ₦92 to the dollar, petrol sold for …
The Nigeria Revenue Service (NRS) has launched a new digital tax administration platform, Rev360, as part of efforts to identify tax evaders. It is also to enable it to strengthen compliance and modernise revenue collection across the country. Speaking at the unveiling in Abuja on Wednesday, the Executive Chairman of the NRS, Zacch Adedeji, described …
Despite repeated sanctions imposed on electricity distribution companies (DisCos) by regulators, overbilling and lack of metering continue to dominate customer complaints across Nigeria's power sector, raising concerns about the effectiveness of enforcement measures and the pace of reforms. For millions of electricity consumers, estimated billing remains a persistent source of frustration. Households and businesses continue …
The Federal Government said it welcomed the International Monetary Fund’s (IMF) latest assessment of Nigeria’s economy. In a statement on Tuesday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the assessment validates the economic reforms introduced under President Bola Tinubu and confirms that Nigeria is on a stronger path to …
Nigeria's next growth phase will be driven by states and private capital rather than federal spending alone, Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele said as he outlined the government's strategy to attract investment, deepen fiscal reforms and unlock projects across the country. Speaking at the Invest Lagos 3.0 Governor's Investment …
Nigeria recorded a sharp improvement in its foreign trade position in the first quarter of 2026 as exports increased and imports fell significantly. This helped it to post a 341 per cent merchandise trade surplus of ₦7.55 trillion, according to the report by the National Bureau of Statistics (NBS). In its Foreign Trade in Goods Statistics …
The Nigeria Consumer Credit Corporation (CREDICORP) says it has facilitated ₦43.25 billion in consumer credit across the country while maintaining a zero non-performing loan record. In its latest newsletter, the corporation said the credit expansion was delivered through 35 participating financial institutions and has reached over 230,000 beneficiaries nationwide. According to the report, women account …
Efforts by the Securities and Exchange Commission (SEC) to tackle Nigeria's longstanding unclaimed dividend problem are facing renewed scrutiny as investors continue to complain about difficulties recovering their money, even as the value of unclaimed dividends in the capital market has climbed to ₦215 billion. The development raises questions about whether reforms introduced over the …
