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The Nigeria Export Promotion Council (NEPC) has warned that the widening gap in Niger State’s mining sector is bleeding the national economy. Executive Director Nonye Ayeni told a workshop in Minna on Thursday that illegal and uncoordinated mining remains a persistent rot in the industry. The Council is now pressuring the state government and local…
Nigeria’s pension industry has opened 2026 with a formidable expansion, as total assets hit N28.04 trillion by the end of January. This represents a 22.64% increase from the N22.86 trillion recorded the previous year. The industry added N580 billion in value in a single month, a growth spurt driven by both consistent contributions and robust…
Nigeria is attempting to pivot from a raw materials exporter to a value-adding industrial power. Delivering a keynote address at the Nigeria–German Economic Forum in Dortmund this week (March 3–5, 2026), Steel Development Minister Shuaibu Abubakar Audu said the country needs European partners to fix its broken industrial chain. The government wants to stop shipping…
The Dangote Petroleum Refinery has pledged to prioritise the Nigerian market as a surge in Middle Eastern hostilities sends global energy prices into a tailspin. In a statement released this week, the firm confirmed it is absorbing a portion of rising costs to shield domestic consumers from the full impact of the crisis. While benchmark…
Nigeria’s foreign reserves received a notable addition as the Central Bank of Nigeria incorporated responsibly sourced gold refined to international standards, elevating its total gold holdings to $3.5 billion and advancing efforts to diversify away from traditional assets amid global economic shifts. The move, part of an ongoing reserve diversification strategy, involves gold aggregated…
NIPCO Gas Limited, one of Nigeria’s foremost downstream gas companies, has announced an ambitious infrastructure programme that includes the construction of 20 compressed natural gas stations across the country, two major compression hubs in Lagos State and Ogun State, an 80-kilometre natural gas pipeline linking Sagamu to Ibadan, and additional gas distribution infrastructure connecting…
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…
