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Business and Economy

2026 budget twist: MDAs slip in N3.5tn new projects despite FG freeze

An analysis of the proposed 2026 Appropriation Bill has revealed that Ministries, Departments and Agencies have inserted at least N3.50tn worth of new projects,...

JUST IN: Dangote petitions EFCC over alleged corruption by ex-NMDPRA chief

Chairman of Dangote Industries, Aliko Dangote, through his lawyers, has submitted a formal petition to the Economic and Financial Crimes Commission (EFCC) against the...

Tax law: States to gain N5tn VAT windfall as new sharing formula takes effect

Nigeria’s 36 states are projected to receive about N5.07tn in Value Added Tax (VAT) revenue in 2026 following the implementation of a new sharing...

Sustained reforms could lift Nigeria’s GDP growth to 4% in 2026 – Expert

The Chief Executive Officer of the Centre for the Promotion of Private Enterprises (CPPE), Dr Muda Yusuf, has said Nigeria could record economic growth...

New tax regime: Separating facts from fiction

Nigeria’s tax system is set for a major overhaul following the signing of four landmark Tax Reform Bills into law by President Bola Tinubu...

NNPC subsidiaries’ debt surges 70% to N30.3tn in 2024

The Nigerian National Petroleum Company Limited (NNPC) is facing rising financial pressure as debts owed to it by subsidiaries and related entities jumped by...

Banks’ Bad Loans Spike After CBN Withdraws Forbearance

Nigeria’s banking sector recorded a rise in bad loans in 2025 following the withdrawal of regulatory forbearance by the Central Bank of Nigeria (CBN),...

10 States Plan N4.3tn Borrowing to Fund 2026 Budgets

Ten states are planning to raise about N4.287tn through loans, bonds, grants, capital receipts and public-private partnerships to finance capital projects in their proposed...

Budget crisis: NASS extends 2025 fiscal year to March

In a sweeping fiscal reset aimed at tackling revenue shortfalls, weak capital execution and overlapping budget cycles, the National Assembly on Tuesday approved revised...

NIN, CAC numbers to serve as tax IDs from 2026 — FIRS

The Federal Inland Revenue Service (FIRS) has announced that the National Identification Number (NIN) issued by the National Identity Management Commission will automatically serve...

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