The Nigerian Federal Government has announced significant tariff reductions on essential imports including rice, sugar, palm oil, and vehicles under the 2026 Fiscal Policy Measures, potentially lowering consumer prices.
The Centre for Promotion of Private Enterprise urges Nigeria's government to ignore World Bank recommendations for increased fuel and food imports, warning it would reverse economic gains and undermine domestic production.
The Nigerian naira appreciated against the US dollar in the official foreign exchange market, closing at N1,355.25/$ on Friday, April 10, 2026. This marks its strongest level in recent sessions, with steady gains recorded throughout the week. However, Nig
The Presidential Fiscal Policy and Tax Reforms Committee has dismissed misleading reports that Finance Minister Taiwo Oyedele admitted flaws in Nigeria's new tax laws, clarifying the legislative process is complete and reforms are yielding results.
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The Federal Government and Fidelity Bank have launched the Youth Economic Intervention and De-Radicalisation Programme, offering non-repayable grants from N50,000 to N500,000 to Nigerian youth aged 18-50 to combat unemployment and foster entrepreneurship.
The Federal Government has approved tariff reductions on rice, palm oil, and sugar while introducing new excise duties on beverages and tobacco from July 1, 2026, to boost local industries and revenue.
The Federal Government has approved a major reduction in import tariffs on vehicles from 70% to 40%, effective April 1, 2026. This policy is expected to lower the cost of imported cars, with a 90-day grace period for importers and exemptions under a new G
NBA champion Masai Ujiri's Zaria Group and Kenya Railways have signed a long-term lease to develop a modern indoor arena and entertainment district in Nairobi, expected to create over 25,000 jobs and boost Kenya's economy.
The Federal Government has implemented new 2026 fiscal policy measures, significantly reducing import duties on vehicles, palm oil, sugar, and industrial materials to stimulate economic growth.
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Nearly two years after approval, 20 Nigerian states have failed to fully implement the ₦70,000 minimum wage, leaving workers with outdated salaries as NLC threatens nationwide protests.
Lagos State officials emphasize that a stable industrial climate is essential for development, urging union leaders to adopt collaborative approaches in the modern workplace.
Gilbert Chagoury and his group partner with the federal government on major projects like port upgrades and the Lagos-Calabar Coastal Highway, boosting Nigeria's economy and infrastructure development.
Afreximbank announces support for Dangote Group's expansion to achieve $100 billion annual revenue by 2030, including refinery and fertilizer capacity boosts.
The National Automotive Design and Development Council introduces a mandatory digital registry for car dealers to curb theft, enhance financing, and formalize Nigeria's fragmented automotive market.
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The IMF warns that global fuel shortages and economic damage from the Iran conflict will persist, with the Strait of Hormuz bottlenecked and growth forecasts downgraded.
The Nigerian naira strengthened sharply to ₦1,359.32 per dollar, ranking as the 7th best-performing currency globally, driven by improved foreign exchange liquidity from the CBN, despite a dip in foreign reserves below $50 billion.
A Central Bank of Nigeria survey identifies poor electricity supply and insecurity as the biggest challenges facing businesses, with regional disparities in economic optimism noted.
The Trade Union Congress has urged the Nigerian government to use excess crude revenue to subsidize local refineries, warning that petrol prices are nearing ₦2,000 per litre and workers cannot afford transportation costs.
The World Bank has removed its latest Nigeria Development Update report from its website just three days after publication, with no official explanation provided for the sudden deletion.
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The Nigerian naira has surged 13.5% against the US dollar, ranking seventh globally in currency performance, driven by improved FX management and capital inflows.
GIG Mobility announces plans to integrate Nigeria's fragmented mobility and logistics sector through a unified platform, aiming to streamline travel and logistics services for improved efficiency and economic growth.
A new World Bank report reveals Nigeria's poverty rate rose to 63% in 2025, affecting 140 million people, despite declining inflation. The bank warns slow income growth and agricultural sector lag are worsening living conditions.
The World Bank reveals Nigeria's poverty rate increased to 63% in 2025, affecting 150 million people, despite lower inflation. Structural issues like weak agriculture and global conflicts hinder progress.
Under President Tinubu's administration, Nigerians face aggressive hikes in fees for passports, licenses, and cargo, with experts warning of unsustainable governance and exclusion of the vulnerable.
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The World Bank has revised Nigeria's 2026 economic growth projection downward to 4.1%, citing structural constraints, security concerns, and policy uncertainty ahead of the 2027 elections.
World's billionaires gained $265 billion in a single day amid US-Iran ceasefire optimism. Mark Zuckerberg led with a $12.8 billion increase as Meta shares surged 6.5%, overtaking Elon Musk's gains.
Under the Tinubu administration, Nigerians face steep hikes in fees for passports, licenses, and cargo, with experts warning of unsustainable governance and exclusion of the poor.
President Tinubu's economic reforms have boosted revenues, but structural issues in public financial management cause leakages. Experts propose three key changes to enhance accountability and service delivery in Nigeria.
The World Bank has warned Nigeria that without urgent action to reopen the petrol import market and ease trade restrictions, the country faces a renewed surge in inflation due to tightening supply and rising global oil prices.
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The Trade Union Congress urges the Federal Government to slash pump prices, using excess crude revenue to subsidize refineries, as Middle East conflict drives costs to N1,500.
