Economy

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…

The Federal Government of Nigeria, States, and Local Government Councils (LGs) received a combined N1.894 trillion from the Federation Account for February 2026, highlighting sustained revenue inflows amid ongoing economic recovery. The February largesse will cover 76 percent of the nation’s allocation for health in its 2026 budget. The disbursement,…

Nigeria’s push toward a more robust digital financial ecosystem has entered a new phase as the Central Bank of Nigeria (CBN) issued additional operational guidance for instant payment transactions. Under the new framework, which takes effect on July 1, 2026, customers will be able to adjust their instant payment transaction…

The Federal Government, state governments and local government councils have shared a total sum of N2.094 trillion as Federation Account Revenue for October 2025. This was disclosed in a statement by the Director of press, Office of the Accountant-General of the Federation (OAGF), Mr. Bawa Mokwa, who said the allocation…

Retired workers of the defunct NITEL–MTEL on Tuesday staged a peaceful protest at the Federal Ministry of Finance, demanding the immediate payment of 35 months of unpaid pension arrears and other outstanding entitlements owed to them under the Defined Benefits Scheme (DBS). Addressing journalists during the protest, the spokesman of…

The Federation Account Allocation Committee (FAAC) has shared a total sum of N2.103 trillion as Federation Account revenue for September 2025 to the Federal Government, States, and Local Government Councils (LGCs). The allocation was made at the October 2025 FAAC meeting held in Abuja. The N2.103 trillion total distributable revenue…

Nigeria’s headline inflation rate fell for the sixth consecutive month in September, easing to 18.02 percent, its lowest level in three years. according to new data released by the National Bureau of Statistics (NBS). Core inflation slowed to 19.53 percent, while food inflation moderated to 16.87 percent over the same…