Nigeria Tax System Needs Global Alignment, Expert Says
Tax expert Olayinka Oyebola urges Nigeria to align its tax system with global standards to boost compliance, efficiency, and economic competitiveness at CITN conference.
Category : Economy
Naira Weakens to N1,373.70/$ as Dollar Inflow Declines
The naira depreciated to N1,373.70/$ amid persistent FX demand. FX turnover rose to $76.3 million but remained insufficient. Oil production increased to 1.49 million bpd.
How salary earners, business owners can get tax ID in Nigeria
Learn how salary earners and business owners in Nigeria can obtain their Tax Identification Number (TIN) online or physically, using NIN or BVN, as part of the new mandatory tax ID system.
Nigeria Could Be 5th Richest Economy by 2076: ECOWAS
ECOWAS predicts Nigeria could become the world's fifth-largest economy by 2076, driven by regional trade and integration, not Western markets.
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Lagos State Plans to End Electricity Band Classification
Lagos State Government moves to scrap Band A-E electricity classification, aiming for uninterrupted 24-hour power supply for all residents under new reforms.
EU, AFD Boost Lake Chad Basin Recovery Through RESILAC 2
The EU and AFD are strengthening resilience and economic recovery in the Lake Chad Basin via the RESILAC 2 project, targeting 125,800 beneficiaries across Cameroon, Nigeria, and Chad.
US, China Lead Top 10 Strongest Economies in 2026 as AI Reshapes Wealth
Global economic forecasts for 2026 show the US leading with $32.1 trillion GDP, followed by China. AI and technology are reshaping global wealth, with India emerging as a fast-growing economy.
Nigeria Makes Tax ID Mandatory for All Citizens
The Federal Government has introduced a mandatory Tax Identification Number for all Nigerians to access essential services, aiming to broaden the tax base and streamline revenue collection.
Cartoon: Nigeria's Economic Struggles and Citizens' Burden
A cartoon highlights Nigeria's economic challenges, showing citizens burdened by rising costs and government policies, reflecting public sentiment.
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Deficits, Debt, Economic Literacy: Response to Fiscal Critics
Nigeria's Budget Office DG defends fiscal policies, arguing deficits and debt are necessary for economic stability and growth amid structural reforms.
CBN Reforms Boost Nigeria's S&P Rating to B
Nigeria's S&P credit rating upgrade to B reflects CBN's FX reforms, backlog clearance, and reserve growth, enhancing macroeconomic credibility.
NPA Pensioners Protest Unpaid Benefits in Lagos
Retired NPA workers protested in Lagos, demanding pension increments and improved welfare amid economic hardship, with some receiving as low as N30,000 monthly.
Naira Opens Week Weak Against US Dollar Across FX Markets
The Nigerian currency opened the trading week with marginal losses against the US dollar at the NAFEX window, trading at N1,371.04/$1, while it depreciated further on the GTBank FX desk.
Dollar Hits Four-Week High, Naira Weakens Across Markets
The US dollar surged to a four-week high as Middle East tensions escalated, while the Nigerian naira depreciated across official and parallel markets amid global dollar strength.
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LCCI Decries Inflation Impact on Manufacturers, MSMEs
LCCI expresses dismay as Nigeria's inflation rises to 15.69%, hurting manufacturers and MSMEs. BPP unveils new guidelines to curb contract cost inflation.
Naira Weakens Marginally to N1,371/$
The naira depreciated slightly against the dollar, closing at N1,371.04/$ in the official market, amid high import costs and limited FX access.
Global Leaders at WUF13 in Baku Tackle Housing Crisis
World leaders gather in Baku for WUF13 to discuss housing shortages, climate resilience, and inclusive urban planning amid rapid urbanization and global crises.
Fresh Inflation Fears May Alter CBN Policy Plan, Economists Warn
Economists express concern over rising inflation, which may prompt the CBN to reconsider its cautious rate cut programme. April inflation hit 15.69%, driven by food and energy costs.
BOI Chief: Profit Alone Cannot Define Success Without Impact
Bank of Industry MD Olasupo Olusi says loan disbursements and profitability are insufficient without measurable development impact, unveils new strategy focused on youth, climate, and MSMEs.
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S&P Upgrade: Impact on Nigeria's Economy Explained
S&P upgrades Nigeria's credit rating to 'B' after 14 years. Analysts weigh benefits and limitations for citizens amid inflation and reform challenges.
Downstream Sector Faces Stress Test Over Energy Security
Legal battles and regulatory clashes threaten Nigeria's fuel supply, as Dangote Refinery sues NMDPRA over import licenses, sparking concerns over energy security and investor confidence.
10 Most Affordable States in Nigeria 2026
Discover the top 10 most affordable states to live in Nigeria in 2026 as food prices rise, with insights on cost of living, security, and job access.
Nigeria Inflation Hits 15.69% in April 2026: 10 Key Numbers
Nigeria's inflation rate rose to 15.69% in April 2026, driven by food and transport costs. Key takeaways include food inflation at 16.06% and core inflation at 15.86%.
Tinubu Reforms Need More Time, Women Group Says
Business Women of Influence for Renewed Hope Agenda says Tinubu's reforms require more time to yield benefits, urging patience and continuity.
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Brewers Raise Concerns as Customs Pushes Tax Stamp Reform
Nigeria Customs discusses tax stamp policy with brewers, who fear added costs. Consultations ongoing, no final decision reached.
NISO Unveils New Directives to Enhance Grid Stability
NISO introduces new directives targeting Discos, GenCos, and large customers to combat energy theft and improve electricity supply stability in Nigeria.
Nigeria's Inflation Hits 15.69% in April 2026
Nigeria's headline inflation rose to 15.69% in April 2026, up from 15.38% in March, driven by Middle East crisis and high fuel prices, according to NBS.
S&P Upgrades Nigeria's Credit Rating to 'B'
S&P Global Ratings upgrades Nigeria's sovereign credit rating from 'B-' to 'B' with stable outlook, citing improved external position, fiscal reforms, and growing investor confidence.
Shettima, Sanwo-Olu, UNDP Tackle Unemployment in Nigeria
Vice President Shettima, Lagos Gov Sanwo-Olu, and UNDP addressed rising unemployment at the Nigeria Jubilee Fellows Programme 2.0 Employers' Forum in Lagos.
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Tinubu’s economic voyage and Oyedele’s Midas touch
President Tinubu’s economic reforms and Finance Minister Taiwo Oyedele’s Midas touch are stabilizing Nigeria’s economy, attracting global investment, and restoring contractor confidence.
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