Economy

The Federation Account Allocation Committee (FAAC) has shared a total of N2.257 trillion in Federation Account revenue generated in April 2026 among the Federal Government, state governments, and local government councils. The allocation, approved at the committee’s meeting in Abuja, comprised N1.260 trillion from statutory revenue, N747.088 billion from Value…

While several countries across Africa grapple with fertiliser shortages and rising input costs triggered by fresh global disruptions, the Federal Government has secured Nigeria’s fertiliser supply for the 2026 wet season. Early procurement decisions by the FG have also saved the country over $42 million ahead of peak planting. The…

Nigeria’s Eurobonds recorded relatively strong market performance at the close of trading on May 29, 2026, with yields on most sovereign issues remaining below their original issuance levels, reflecting sustained investor confidence in the country’s external debt instruments. Data released by the Debt Management Office (DMO) showed that the country’s…

Nigeria’s pension fund assets increased by N1.42 trillion in April 2026 to N30.94 trillion, reflecting sustained growth in the country’s contributory pension scheme, according to the latest industry report released by the National Pension Commission (PenCom). The report showed that the total net asset value of pension funds rose from…

The Central Bank of Nigeria (CBN) has emphasised the critical role of State Governments in ensuring a successful transition to an Inflation Targeting (IT) monetary policy framework, stressing that sustained price stability can be achieved only through coordinated fiscal discipline across all tiers of government. Speaking during an engagement with…

The Central Bank of Nigeria (CBN) has reaffirmed its commitment to strengthening Shariah governance, regulatory clarity, and risk management in the non-interest financial services industry as part of efforts to sustain public confidence, financial stability, and the orderly growth of the sub-sector. The commitment was restated at the 2nd Annual…

President Bola Ahmed Tinubu has sacked the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and Housing Minister Ahmed Musa Dangiwa, appointing Taiwo Oyedele as the new Minister of Finance. In a statement on Tuesday, Special Adviser, Media and Publicity to the Secretary to the Government of…

Nigeria’s inflation rate rose to 15.38% in March 2026, up from 15.06% in February 2026, but significantly lower than the 27.35% recorded in the same month of the preceding year (March 2025), the National Bureau of Statistics (NBS) has said. The NBS, in its report released on Wednesday, stated that…

The World Bank says  Nigeria’s  economic outlook is improving, but warns that high inflation and weak early childhood development outcomes remain critical challenges. The World Bank Country Director for Nigeria, Matthew  Verghis, said this in Abuja on Tuesday. Verghis spoke while presenting the bank’s  April edition of the Nigeria Development…

The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing individual annual tax returns by two weeks, moving it from the statutory March 31 deadline to April 14, 2026. Executive Chairman of LIRS, Ayodele Subair, announced the extension in a statement on Monday, noting that the decision…