UK Net Migration Falls Below 200,000 Since COVID
UK net migration fell to 171,000 in 2025, a 48% decline from 2024, driven by policy changes on work and study visas, marking the lowest level since 2012.
Category : Economy
Reverse Importing Poverty, Exporting Jobs – Azikiwe
Dr. Frank Azikiwe urges Nigeria to industrialize, end import dependence, and create jobs by producing and exporting value-added goods.
Digitisation could boost Nigeria's tax revenue by N1.6tr
Increased digitisation across sectors could add 2% to GDP, create 2 million jobs, and generate N1.6 trillion in tax revenue by 2028, says NCC.
Nigeria Launches New Tax Incentive System, 149 Firms Exempted
Nigeria transitions to performance-based tax incentives, phasing out blanket holidays. 149 pioneer companies retain exemptions under new Economic Development Incentive.
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Lagos IGR Hits ₦1.87 Trillion, Total Revenue Reaches ₦2.6 Trillion
Lagos State generated ₦2.6 trillion total revenue in 2025, with IGR contributing ₦1.87 trillion, driven by digital tax reforms and fiscal discipline.
Naira Gains Against US Dollar, Euro in Official Market
The naira appreciated against the US dollar and euro in the official market on May 21, 2026, while slightly falling against the British pound. CBN reaffirms commitment to exchange rate stability.
Nigeria Trade Surplus Hits $480m, Up 220% MoM
Nigeria's trade surplus rose 220% to $480m in January 2026, driven by a 4.46% increase in exports to $4.68bn, mainly from petroleum products, according to the CBN.
Femi Otedola Sells Geregu for $100M Dangote IPO Bet
Billionaire Femi Otedola liquidated his Geregu Power stake to invest $100 million in Dangote Refinery's IPO, comparing it to early Apple or Amazon stock.
Analyst Projects Cautious Monetary Policy Amid Inflation FX Pressure
An analyst says the CBN's hold on MPR at 26.5% reflects a wait-and-watch approach amid inflation and external pressures, while CPPE commends the decision.
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Cartoon: Nigeria's Economic Challenges in 2025
A cartoon highlighting Nigeria's economic struggles in 2025, including inflation, unemployment, and currency depreciation.
CBN: Naira Stability Market-Driven, Not Artificially Propped Up
CBN Governor Cardoso explains that the naira's recent stability is due to FX reforms and increased liquidity, with minimal central bank intervention at 1.2-1.3% of market turnover.
Naira Holds Firm Against US Dollar as CBN Retains Interest Rate
Nigeria's naira closes at N1,373.34 per dollar, CBN retains benchmark rate at 26.5%, external reserves rise to $49.49 billion, boosting investor confidence.
Nigerian Man Goes From Losing Savings to Making Millions in Canada
A Nigerian man who lost his life savings in Canada shares his journey from hardship to building a business that generated over $1 million in revenue.
Nigeria Launches Net-Zero Investment Plan for 2060
Nigeria launches Net-Zero Investment Plan to achieve net-zero emissions by 2060, focusing on sustainable growth and private sector engagement.
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CBN Retains Rate at 26.5% as Inflation Seen Temporary
The Central Bank of Nigeria kept the Monetary Policy Rate at 26.5%, citing temporary external shocks. Governor Yemi Cardoso highlighted rising reserves and forex stability.
Unknown Pasts of New NMDPRA Boss Rabiu Umar
An in-depth look at Rabiu Umar's career, from Unipetrol to Dangote, and his new role as NMDPRA CEO under President Tinubu's Renewed Hope Agenda.
Nigeria's Digital Exclusion: A National Emergency
Nigeria faces a digital exclusion crisis despite existing infrastructure. Systemic failures, cultural resistance, and lack of accountability perpetuate disconnection from opportunities.
Faloye: Enforce Chapter II to Fight Poverty in Nigeria
Prince Justice Faloye calls for a national war on poverty by enforcing Chapter II of Nigeria's 1999 Constitution, criticizing past governments for neglecting its socio-economic directives.
Food inflation above 20% in 11 states ahead of Eid-el-Kabir
Food inflation has crossed 20% in 11 Nigerian states, with Enugu leading at 32.7%, worsening the cost of living crisis ahead of Eid-el-Kabir.
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Nigeria Unveils NetZero Plan for Climate Finance, Growth
Nigeria's Net Zero Investment Plan aims to drive climate finance and sustainable growth, aligning with Agenda 2050 and global climate goals.
Lagos Targets $2.5bn Investment at Invest Summit 3.0
Lagos State aims to attract $2.5 billion in investments and over 600 delegates at the Invest Lagos 3.0 Summit, positioning the state as Africa's business gateway.
CBN Holds Interest Rate at 26.5% as Inflation Rises
The Central Bank of Nigeria keeps benchmark interest rate unchanged at 26.5% despite inflation climbing to 15.69% in April 2026.
Nigeria Unveils Unified Tax ID for All Taxpayers
Nigeria Revenue Service and Joint Revenue Board launch a new Tax ID system to simplify tax compliance, enhance transparency, and unify taxpayer records across federal and state levels.
Nigeria FX Inflows Surge to $112 Billion in 12 Months
Nigeria's foreign exchange market gets a major boost as dollar inflows hit $112 billion in 12 months, driven by autonomous sources and CBN reforms, improving investor confidence.
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IMF: Middle East War May Cause Food Insecurity for 20M Africans
The IMF warns that a 20% rise in food prices from the Middle East war could push over 20 million sub-Saharan Africans into food insecurity and leave 2 million children malnourished.
Africa's Gas Commercial Model Hurts Economies
Africa's gas commercial model prioritizes exports over domestic supply, leaving millions without power and stifling industrialization. Experts call for pricing reforms and infrastructure investment.
Poor Market Risk Analysis Major Cause of Loan Defaults
Accion Microfinance Bank identifies poor market risk analysis as the main cause of loan defaults among MSMEs, citing economic instability and rising costs.
Markets, Welfare, and the Limits of Reform
Nigeria's economic reforms since 2023 have stabilized macroeconomy but neglected equity. Prof. Adenikinju argues for social protection, industrial policy, and legislative scrutiny.
Nigeria's Fiscal Reforms: Response to Critics on Deficits and Debt
Tanimu Yakubu defends Nigeria's fiscal policies, arguing deficits are necessary for structural reform and criticizing selective outrage from critics.
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AfCFTA, ITC Renew Partnership for Intra-African Trade
AfCFTA Secretariat and ITC renewed MoU at Biashara Afrika 2026 to accelerate intra-African trade, focusing on SMEs, women, and youth-led enterprises.
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