Despite the non-oil revenue surge, debt and subsidy pressures mount Nigeria is gradually reducing its long-standing dependence on crude oil as a major source of revenue, as non-oil income and tax collection across the country have been on a steady rise, a new report reveals. The report, titled “Nigeria Unshackled: Inside the Steady Rise …
The National Economic Council (NEC) has resolved to intensify stakeholder engagement to boost Nigeria’s non-oil revenue base and reduce dependence on crude oil earnings. The decision followed deliberations at the Council’s 156th meeting, held virtually on Thursday and chaired by Vice President Kashim Shettima. Shettima urged faster movement toward a non-oil economy driven by competitive …
Nigeria’s economy is diversifying, with non-oil revenue increasing by 57.5%, signalling the nation’s commitment to reducing oil dependency and boosting fiscal resilience. The Nigeria Investors Forum, held on the sidelines of the IMF-World Bank 2025 Annual Meetings in Washington, DC, served as an important occasion for Nigeria's leadership to share updates on the nation’s economic …
