Nigeria must reduce its reliance on borrowing and strengthen its domestic revenue base to stabilise public finances and fund sustainable development, Finance Minister and Coordinating Minister of the Economy, Wale Edun, said on Tuesday. Speaking at the Nigerian Revenue Service (NRS) management retreat in Abuja, Edun warned that the global financial environment had grown increasingly …
The Nigerian Economic Summit Group (NESG) has projected a 5.5 per cent growth in the Gross Domestic Product (GDP), declaring that the country has exited a period of “acute economic crisis”. It said Nigeria is now on the path to a stronger growth trajectory as economic reforms transition from stabilisation to consolidation. It made this …
Minister of Finance and Coordinating Minister of the Economy Wale Edun has indicated that Nigeria could see interest rate cuts in the near term if the current disinflation trend is sustained. Speaking in an interview on the sidelines of Abu Dhabi Sustainability Week, Edun said a continued slowdown in inflation would give the Central Bank …
By David Okon Nigeria’s economic story in 2025 was not defined by a single reform or headline moment. It was shaped by sequencing. A deliberate effort to stabilise the macroeconomy, restore institutional credibility, and align security, fiscal, and market policy toward growth. At the centre of this sequencing stood the Minister of Finance and Coordinating …
BudgIT Nigeria has raised concern over the revenue figure declared by the budget office and the disclosure made recently by the Minister of Finance and Coordinating Minister of Economy, Wale Edun. The civic organisation raised the alarm in a post on its X handle on Friday, December 19. It stated: “While the Budget Office @PlanningNG …
President Bola Tinubu has set up a committee to resolve the ₦1.5 trillion backlog owed to 2,000 contractors. The Special Adviser on Information and Strategy, Bayo Onanuga, briefed state house correspondents after the Federal Executive Council meeting in Abuja on Wednesday, December 10. He said the President was “upset” after learning that about 2,000 contractors …
Wema Bank Plc may emerge as the best-performing banking stock in 2025 on the Nigerian Exchange Limited (NGX). A review of the NGX stock market data by Pinnacle Daily, from the beginning of the year to the end of November, points in this direction. It shows Wema Bank as the only bank that has crossed the …
President Bola Ahmed Tinubu has approved the establishment of the National Tax Policy Implementation Committee (NTPIC). The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made this known in a statement on Friday, November 28. The committee will be chaired by Joseph Tegbe and overseen by the Minister of Finance and Coordinating …
The Federal Government has inaugurated a Government-Private Sector (GPS) Dialogue Series aimed at strengthening collaboration with the private sector to accelerate economic growth and expand financing opportunities for Small and Medium-sized Enterprises (SMEs). The initiative, launched on Saturday at the Radisson Blu Hotel in Ikeja, Lagos, forms part of the Renewed Hope Agenda and seeks …
In a sweeping structural reform, Nigeria has effectively abolished its standalone 10% Capital Gains Tax (CGT) and integrated the gains into its new income tax regime, a move that has triggered widespread debate over its potential to stifle investment or modernize tax fairness. Under the newly signed Nigeria Tax Act, 2025, capital gains for individuals …
