Nigeria Eyes FX Gains as Crude Oil Prices Top $105/Barrel
Nigeria is set to further benefit from rising foreign exchange inflows as global crude oil prices surge above $105 per barrel, driven by escalating Middle East tensions that have tightened supply expectations, boosting revenues and supporting naira stability, OKECHUKWU NNODIM writes With Brent crude trading above $105 per barrel, well above Nigeria’s 2026 federal budget […]
Nigeria’s Debt to World Bank Surges by $2.08bn in a Year
Nigeria’s debt to the World Bank rose by $2.08bn in one year to $19.89bn as of December 31, 2025, according to an analysis of external debt stock data released by the Debt Management Office. The figure represents an 11.7 per cent increase from the $17.81bn owed to the global lender as of December 31, 2024. […]
Sanwo-Olu Urges Tax Agency Autonomy for National Growth
Lagos State Governor Babajide Sanwo-Olu, on Wednesday, commended the performance of the Lagos State Internal Revenue Service, describing it as a critical driver of the state’s economic growth, while calling for greater autonomy for tax agencies across the country. Sanwo-Olu spoke at the State House, Marina, while hosting members of the Joint Revenue Board for […]
FAAC Shares N2.04tn March Revenue Amid Stronger Inflows
The Federation Account Allocation Committee shared a total of N2.04tn as revenue for March 2026, reflecting a N150bn increase from the N1.89tn distributed in February, amid stronger statutory inflows. The disclosure was contained in a statement issued on Wednesday by the Office of the Accountant-General of the Federation and signed by its Director of Press […]
Nigeria’s domestic debt servicing jumps 46% to N8.6tn
Nigeria’s total debt servicing rose by N2.98tn year-on-year to N15.81tn in 2025, driven largely by a sharp increase in domestic interest payments and sustained external obligations, data from the Debt Management Office has shown. An analysis of the DMO’s actual debt service reports showed that total payments increased from N12.83tn in 2024 to N15.81tn in […]
Nigeria bans imports of cement, fertiliser & 15 other goods
The Federal Government has updated its import prohibition list, targeting cement, soaps, fertiliser, and 14 other categories of goods, bringing the total number of affected categories to 17. This was disclosed in a circular issued by the Federal Ministry of Finance and signed by the Minister of Finance and Coordinating Minister of the Economy, Wale […]
Expert links Nigeria’s debt crisis to low productivity
An Associate Professor and Director of the Abuja School of Social and Political Thoughts, Dr Sam Amadi, has said Nigeria’s rising debt burden is being driven by weak productivity, warning that the country’s fiscal challenges are rooted in structural inefficiencies in the economy. Amadi, a former Chairman of the Nigerian Electricity Regulatory Commission, stated this […]