ECONOMY

The World Bank has warned that extreme poverty is growing rapidly in Nigeria and 38 other economies affected by conflict and instability, worsening hunger and pushing development goals further out of reach. The bank made this known in a statement released on Friday titled “Extreme Poverty is Rising Fast in...

Nigeria’s total public debt rose to N149.39 trillion as of March 31, 2025, representing a year-on-year increase of N27.72 trillion or 22.8 per cent compared to the N121.67 trillion recorded in the corresponding period of 2024. The Debt Management Office's (DMO) latest figures also indicate a quarter-on-quarter increase of N4.72...

President Bola Tinubu has signed into law four groundbreaking tax reform bills that would transform Nigeria’s fiscal and revenue framework. The four tax reform bills recently passed by the National Assembly were signed at a ceremony held at the Presidential Villa on Thursday. The ceremony was witnessed by top government...

President Bola Tinubu will today sign into law four tax reform bills that would transform Nigeria’s fiscal and revenue framework. According to a statement issued by presidential spokesperson, Bayo Onanuga, the four bills, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the...

The Federal Government has said it recorded N6.9 trillion in revenue as at the end of April this year, representing a 40 per cent increase from N5.2 trillion in the same period last year. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced this on Monday...

For the second time, the Senate has extended the implementation timeline of the capital component of the 2024 federal budget till 31 December, 2025. The decision was reached by the upper chamber through a resolution during the plenary on Tuesday following an appropriation bill requesting its amendment and extension. The...

Nigeria's Foreign Affairs Minister, Yusuf Maitama Tuggar, stated that the country and some members of the Economic Community of West African States (ECOWAS) have the rare mineral resources that were reported by an American publication that China has the monopoly, and vital to some industries on which the future will...

BudgIT, a civic tech organisation raising the standards of transparency, accountability, and service delivery in the Nigerian government and governance, has urged subnational governments to adopt and implement the National Women’s Economic Empowerment (WEE) Policy and Action Plan, a policy designed to boost economic progress for women in Nigeria. While...

The World Bank has maintained its forecast for Nigeria’s economic growth at 3.6 per cent in 2025, even as it slashed the global growth outlook due to escalating trade tensions and heightened uncertainty in the global economy. In its latest Global Economic Prospects report released on Tuesday, it noted that...

The Minister of Budget and Economic Planning, Atiku Bagudu has said President Bola Tinunu administration has implemented bold reforms that have positioned the nation's economy for sustained recovery and growth, despite short-term pain. The minister said this while addressing State House Correspondents after a courtesy call on Tinubu in his...