President Bola Ahmed Tinubu has assured Nigerians that the difficult economic reforms introduced by his administration are beginning to yield positive results, declaring that the nation is stabilising and moving toward recovery. In a nationwide address marking the third anniversary of his administration on May 29, 2026, President Tinubu acknowledged the sacrifices made by Nigerians…
The Federal Government, state governments, and local government councils have shared a total of ₦2.036 trillion as revenue for March 2026. The allocation was approved at the April 2026 meeting of the Federation Account Allocation Committee (FAAC) held in Abuja, according to a statement from the Office of the Accountant General of the Federation. The…
The World Bank has raised concerns that rising multidimensional poverty in Nigeria is undermining the country’s long-term economic prospects, particularly due to poor early childhood development outcomes. In its April 2026 Nigeria Development Update titled “Nigeria’s Tomorrow Must Start Today: The Case for Early Childhood Development,” the bank highlighted serious challenges in child health, nutrition, and education, warning that these issues…
The Federal Government of Nigeria is studying Indonesia’s transformation into a $1.4 trillion economy to guide its own ambition of reaching a $1 trillion economy under President Bola Tinubu. Minister of Budget and Economic Planning, Senator Abubakar Bagudu, disclosed this during a meeting with Indonesia’s Ambassador to Nigeria, Bambang Suharto, in Abuja, emphasizing lessons from Indonesia’s rapid economic growth and strategies for economic…
The Central Bank of Nigeria (CBN) has announced the successful conclusion of its bank recapitalisation programme, confirming that 33 banks have met the revised minimum capital requirements. In a statement released on Wednesday, the apex bank revealed that the exercise, which began in March 2024, has now been completed after a 24-month implementation period aimed at strengthening the resilience of Nigeria’s…
Lagos State has been ranked among Nigeria’s top 10 states for ease of doing business, alongside Kaduna State, Oyo State, the Federal Capital Territory, Ogun State, Enugu State, Plateau State, Ekiti State, Kano State, and Nasarawa State. The ranking, published in the 2025 Subnational Ease of Doing Business Report, highlights significant progress in reform-driven states, including up to a 40% reduction in business registration time,…
The Dangote Petroleum Refinery and Petrochemicals has reduced its gantry price for Premium Motor Spirit (petrol) to N1,200 per litre, while setting its coastal price at N1,153 per litre. According to the company’s spokesperson, Anthony Chiejina, the price cut reflects a downward adjustment in the refinery’s pricing structure amid ongoing global oil market uncertainty driven by tensions in the Middle…
