By Seun Ibiyemi The Nigeria Revenue Service (NRS) has recorded a significant boost in revenue collection, with total collections rising from ₦6.8 trillion five years ago to ₦28.7 trillion in 2025, reflecting the impact of sweeping tax reforms and institutional restructuring. Executive Chairman of the NRS, Zacch Adedeji, disclosed this on Tuesday during the commissioning…
By Seun Ibiyemi The International Monetary Fund (IMF) has revised Nigeria’s economic growth forecast for 2026 downward by 0.3 percentage points, lowering it from 4.4 per cent to 4.1 per cent, citing mounting global uncertainties and domestic economic pressures. The revised outlook was disclosed during a media briefing for the launch of the IMF’s April…
By Seun Ibiyemi President Bola Tinubu has said that Nigeria’s colonial-era tax laws impoverished citizens through fragmentation and inconsistencies, assuring that ongoing fiscal reforms are designed to deliver greater prosperity, inclusivity, and economic competitiveness. Tinubu made the remarks on Tuesday in Abuja during the commissioning of the 16-storey headquarters of the Nigeria Revenue Service (NRS),…
Nigeria’s insurance sector recorded strong growth in the fourth quarter of 2025, with gross premium rising to N2.301 billion, driven largely by oil and gas business and expanding annuity funds. The figures were contained in a report released by the National Insurance Commission in Abuja on Monday. According to the commission, the performance reflects the…
By Seun Ibiyemi The Nigerian Economic Summit Group (NESG) has cautioned that Nigeria’s growing reliance on external borrowing could threaten economic stability, following the country’s recent $2.35 billion Eurobond issuance. In its latest economic outlook titled “2025Q4 Capital Importation Alert,” the group acknowledged that Nigeria’s return to the international capital market signals renewed investor confidence…
The National Insurance Commission (NAICOM) has reiterated its commitment to upholding high labour standards and promoting staff welfare as part of efforts to strengthen its effectiveness as a regulatory body. In a statement issued on Monday in Lagos, the commission said its performance was closely linked to the professionalism, dedication and well-being of its workforce….
The Federal Government has directed Dangote Sugar Refinery Plc to scale up its production capacity to 600,000 metric tonnes annually by 2030 as part of efforts to boost local sugar production and reduce import dependence. The Minister of State for Industry, John Enoh, gave the directive during an inspection visit to the company’s facility in…
Global ratings agency Fitch Ratings has affirmed Nigeria’s sovereign credit rating at ‘B’ with a Stable Outlook, citing ongoing economic reforms, rising foreign reserves and improving macroeconomic conditions. The development was disclosed in a statement by Kamorudeen Yusuf, Personal Assistant on Special Duties to President Bola Ahmed Tinubu. According to the statement, Nigeria’s gross external…
By Seun Ibiyemi The Federal Government has inaugurated a high-level technical committee to review a proposed $200 billion integrated infrastructure project aimed at transforming Nigeria’s energy and transportation sectors. Secretary to the Government of the Federation, George Akume, who inaugurated the committee, said the initiative combines gas development, power generation and transmission, as well as…
By Seun Ibiyemi The Nigeria Customs Service has intensified efforts to boost revenue generation and strengthen compliance with excise regulations, as its top officials engaged stakeholders in the Oyo/Osun Area Command. The Assistant Comptroller-General in charge of Excise, Free Trade Zone and Industrial Incentives, Eghosa Joy Edelduok, led a delegation to meet with excise traders…
