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In a definitive shift for Nigeria’s fiscal federalism, the 36 state governments saw their share of Value Added Tax (VAT) soar to ₦551.77 billion in January 2026. This represents a 30.4% increase from the previous month and marks the first distribution under the Nigeria Tax Act 2025. Under the new framework, the Federal Government’s take…
Nigeria’s treasury grew by N2.96 trillion in the third quarter of 2025 through Company Income Tax. According to the National Bureau of Statistics (NBS), the Q3 figure represents an eight percent increase from the N2.78 trillion recorded in the second quarter of 2025. Local businesses provided N920.91 billion of this sum while foreign firms contributed…
The World Bank has projected that Nigeria and other developing economies may face a jobs deficit of approximately 800 million positions over the next decade and a half, as rapidly expanding youth populations outpace the creation of formal employment opportunities in a trend the institution describes as a looming national security threat. In an analysis…
The Federal Government has prohibited the use of roadblocks for tax collection across Nigeria as part of a sweeping reform of informal sector taxation, introducing presumptive tax regulations designed to bring millions of small businesses into the tax net while exempting the poorest enterprises. The Joint Revenue Board, in collaboration with the Federal Ministry…
The Nigerian currency recorded its second consecutive daily depreciation in both the official Nigerian Foreign Exchange Market and the parallel market, reversing some of the gains achieved during February’s appreciation rally. The naira extended its losing streak against the United States dollar yesterday, depreciating across both the official and parallel foreign exchange windows as…
Nigeria’s net foreign exchange reserves have climbed by 772 per cent in two years, marking a sharp recovery in the country’s external buffers. Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, revealed on Monday that net reserves rose from a lowly $3.99 billion at the end of 2023 to $34.80 billion by December 2025. This…
Nigeria’s economy closed 2025 on a high note, recording a real GDP growth of 4.07% in the fourth quarter. Data released by the National Bureau of Statistics (NBS) shows a steady acceleration from the 3.76% seen during the same period in 2024. The services sector remains the undisputed engine of this expansion, accounting for nearly…
Nigeria’s lenders are currently engaged in a frantic scramble for cash. According to the Central Bank of Nigeria (CBN), the industry has successfully mobilised ₦4.05trn to meet new, more aggressive capital thresholds. Of the 33 banks under the microscope, 20 have already crossed the finish line. The remaining 13 are staring at a clock that…
ABUJA — The Central Bank of Nigeria (CBN) has reduced its benchmark interest rate by 50 basis points to 26.50 per cent. This pivotal decision emerged following the 304th Monetary Policy Committee (MPC) meeting held in Abuja on Tuesday. CBN Governor Olayemi Cardoso confirmed that all committee members unanimously supported the rate cut from its…
ABUJA — President Bola Ahmed Tinubu has formally lauded the Bank of Industry (BOI) for a historic N636 billion loan disbursement to Nigerian enterprises in 2025. This record-breaking volume, the highest in the institution’s history, reached over 7,000 enterprises across the federation. The President characterized this milestone as empirical validation of his administration’s macroeconomic reforms….
