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The ripple effects of Nigeria’s rising petrol prices are now visibly reshaping daily life in the Federal Capital Territory, as car owners park their vehicles and many low-income residents resort to trekking just to survive the commute. Findings by the News Agency of Nigeria across major routes in Abuja paint a stark picture. Typically…
Nigeria has recorded an estimated oil revenue windfall of approximately N5.13 trillion within two months, as global crude prices surged sharply amid the escalating conflict between the United States and Iran, a development that has simultaneously delivered fiscal relief to the government and fresh economic hardship to ordinary citizens. International benchmark Brent crude…
Nigeria is finally moving beyond the pit-to-port model of mineral extraction. Dele Alake, the Minister of Solid Minerals Development, says reforms are turning the sector from a chaotic, informal trade into a structured industry. These changes helped generate ₦68.1 billion in revenue during 2025 alone. The government now mandates that mining leases must include plans…
The Bank of Industry (BOI) and the Raw Materials Research and Development Council (RMRDC) have signed a memorandum of understanding to overhaul Nigeria’s agricultural value chain. This partnership seeks to bridge the gap between research and commercial production. Both institutions intend to convert raw agricultural commodities into finished goods for domestic use and export. They…
Nigeria’s maritime sector faces an existential threat as neighbouring ports in the Benin Republic and Togo attract an increasing share of regional trade. A new policy advisory from the Sea Empowerment & Research Center (SEREC) warns that persistent operational rot is driving cargo away from Nigerian shores. While customs revenue grew by 12 to 18…
Developing economies including Nigeria continue to pay interest rates three to four times higher than advanced countries, a disparity driven by weak revenue structures and risk assessment methodologies that ignore long-term economic potential, the Director of the Intergovernmental Group of 24 (G-24), Dr. Iyabo Masha, has said. Masha made the disclosure on Friday during…
Nigeria’s fiscal prospects have brightened as the price of its premium crude grades, Brass River and Qua Iboe, soared to $113 per barrel on Thursday. This valuation places Nigerian oil significantly above the international Brent benchmark, which currently trades at $96 per barrel. The surge coincides with a jump in domestic production, which has reached…
The Central Bank of Nigeria has proposed a specialised mediation panel that would serve as the mandatory first point of resolution for disputes arising from secured lending transactions, effectively reducing immediate recourse to litigation in matters involving movable assets used as collateral. The proposal was outlined in a circular issued on Tuesday and signed…
Nigeria’s headline inflation rate rose to 15.38 per cent in March 2026, snapping a year-long easing trend and signalling renewed pressure on household budgets across the country. The National Bureau of Statistics disclosed the figures in its Consumer Price Index report released on Wednesday. The increase marks the first time the headline inflation rate…
Nigeria’s gross revenue reached a cumulative N84tn over the last three years, yet 41.1% of these earnings never reached the federation’s distribution pool. Findings from the World Bank’s latest Nigeria Development Update reveal that “pre-distribution deductions” are quietly hollowing out the treasury. While total earnings climbed to N37.44tn in 2025, the amount siphoned off for…
