A Windfall That Never Arrives NIGERIA’S economic story has once again slipped into a troubling paradox—one that has become almost predictable. Global oil prices are rising, driven by geopolitical tensions in the Middle East, yet Africa’s largest oil producer is not reaping the expected rewards. Instead of stronger reserves and a stable currency, the country […]
A Festival Overshadowed by Inflation THE Easter season, traditionally associated with abundance and celebration, has taken a subdued tone in Lagos as rising food prices continue to strain household budgets. At markets such as Ile Epo Market, traders report a noticeable shift in consumer behaviour. According to Abiodun Kosoko, shoppers still visit markets in large […]
Shift in Revenue Collection Framework THE Nigeria Revenue Service (NRS) has officially assumed responsibility for the collection of mineral royalties from mining operators nationwide, marking a significant shift in Nigeria’s fiscal administration. The transition, which took effect on 1st January 2026, follows the implementation of the Nigeria Tax Laws 2025 signed into law by Bola […]
Rising Food Costs Deepen Hardship RESIDENTS of the Federal Capital Territory (FCT) are raising alarm over the relentless increase in food prices across major markets, describing the situation as a growing economic burden on households. Across markets in Dutse, Nyanya, and Gwagwalada, a recent survey shows sharp increases in the cost of both perishable goods […]
A Poultry Industry Under Strain NIGERIA’S poultry sector is facing a deepening crisis as the price of day-old chicks (DOCs) surges to as high as ₦3,000, threatening the stability of egg production across the country. What appears on the surface as a routine price fluctuation has, in reality, exposed structural weaknesses in the poultry value […]
Nigerian Stocks Slip Slightly Amid Profit-Taking THE Nigerian equities market closed marginally lower on Thursday, shedding about ₦3 billion in market capitalisation as investors engaged in mild profit-taking across selected stocks. At the close of trading, market capitalisation declined by 0.002 per cent to ₦129.806 trillion, down from ₦129.809 trillion recorded at the previous session. […]
A Major Shift in Nigeria’s Banking Landscape THE Central Bank of Nigeria (CBN) has formally concluded its sweeping banking sector recapitalisation programme, marking a significant milestone in efforts to strengthen financial system stability and position banks for long-term economic support. The programme, launched in March 2024, required banks to meet new minimum capital thresholds within […]
FOI Funding Gap Sparks Transparency Concerns MEDIA Rights Agenda (MRA), a civil society organisation, has raised concerns over what it describes as inadequate funding for the implementation of the Freedom of Information (FOI) Act in the Federal Government’s 2026 budget. In a statement issued in Lagos, the organisation warned that the funding shortfall could undermine […]
A Stronger Banking System, But an Unfinished Reform NIGERIA’S banking sector has undergone significant recapitalisation, strengthening financial stability and improving its ability to withstand economic shocks. However, according to the Centre for Promotion of Private Enterprises (CPPE), this progress has not translated into sufficient support for the productive economy. The organisation argues that the core […]
Senate Approves Expanded ₦68.32trn 2026 Budget THE Senate has approved a total expenditure of ₦68.32 trillion for the 2026 fiscal year, following the adoption of major adjustments proposed by President Bola Ahmed Tinubu. The revised budget reflects an increase of about ₦9.09 trillion from the initial fiscal framework, positioning it as one of the largest […]