Nigeria’s Revenue Hits N15.8tn: Economists Cite Reforms
Economists have attributed Nigeria’s strong revenue performance in the first five months of 2026 to the impact of recent tax reforms, improved revenue administration and stronger earnings from the oil sector, following government collections of N15.8tn during the period. According to data from the Nigeria Revenue Service reported by Bloomberg, government revenue rose by 49 […]
FG rules out fuel, telecom taxes despite IMF recommendation
The Federal Government on Wednesday dismissed reports suggesting it had adopted or was considering the introduction of new taxes on telecommunications services and petroleum products following recommendations contained in the latest IMF Article IV Consultation Report on Nigeria. The government said the reports misrepresented the contents of the IMF report and did not reflect its […]
IMF warns against costly interventions amid food inflation
The International Monetary Fund has warned governments against resorting to broad subsidies, price controls, and tax cuts in response to rising energy and food prices, arguing that poorly designed interventions can worsen inflation, strain public finances, and deepen global shortages. In a May report titled “Responding to the Energy and Food Price Shock: Getting the […]
Fiscal, FX reforms push Nigeria’s credit rating higher
Nigeria’s fiscal and foreign exchange reforms that improved external reserves, increased FX liquidity, and strengthened confidence in the economy have prompted an upgrade of the country’s sovereign credit rating, among other economic gains, ARINZE NWAFOR writes Nigeria’s ongoing economic and financial sector reforms have received renewed international recognition following the recent decision by S&P Global […]
S&P upgrades Nigeria’s credit rating to ‘B’ amid reforms
S&P Global Ratings has upgraded Nigeria’s long-term foreign and local currency sovereign credit ratings to “B” from “B-”, citing improvements in the country’s macroeconomic profile, external position, and ongoing economic reforms. The US-based global ratings agency announced the upgrade on Friday while affirming Nigeria’s short-term ratings at “B” with a stable outlook. According to S&P, […]
CBN Urges States to Cut Overdraft Reliance for Stability
The Central Bank of Nigeria has urged state governments to reduce their reliance on overdrafts and short-term borrowing, warning that reckless fiscal behaviour at the sub-national level could undermine the country’s transition to an inflation-targeting monetary policy framework. This was contained in a press statement issued by the CBN on Sunday following an engagement with […]
CBN Reforms: Boosting Nigeria’s Economic Resilience
As the Middle East crisis continues to unsettle economies and test resilience, SAMI TUNJI examines how the Central Bank of Nigeria’s recent reforms are influencing the country’s capacity to absorb external shocks, how effective those measures have been, and the areas where vulnerabilities persist Nigeria’s economy is navigating one of its most delicate phases in […]