Naira records first depreciation against US Dollar in 2026
The Nigerian naira has recorded its first drop against the United States dollar in 2026, ending weeks of relative stability in the official foreign exchange market. The currency weakened slightly on the back of increased dollar demand from importers and businesses, putting pressure on supply at the Central Bank of Nigeria’s official window. Market analysts […]
31 ships with fuel, food items to arrive Lagos ports – NPA
The Nigerian Ports Authority (NPA) has announced that 31 ships loaded with fuel and food items are expected to arrive at Lagos ports in the coming days. The agency said the vessels are bringing in petrol, diesel, wheat, rice and other essential goods needed across the country. According to the NPA, the shipments are part […]
Global tensions: Gov Mbah tasks Enugu MDAs on N870bn IGR target
Enugu State Governor, Peter Mbah, has directed all ministries, departments and agencies (MDAs) in the state to intensify efforts towards achieving an ambitious internally generated revenue (IGR) target of N870 billion. The governor gave the charge against the backdrop of rising global economic tensions, which he said make it risky for governments to depend heavily […]
Naira continues gain against US dollar as Nigeria’s foreign reserves climb to $45.57bn
Nigeria’s currency, the naira, has continued to strengthen against the United States dollar as the country’s foreign exchange reserves increased to about $45.57 billion. Analysts say the improvement reflects better inflows from crude oil sales, growing investor confidence, and tighter management of the foreign exchange market by the Central Bank of Nigeria. Market watchers explain […]
Ex-minister Kemi Adeosun Backs Tax Reforms
Former Minister of Finance, Kemi Adeosun, has expressed support for the federal government’s ongoing tax reform efforts. She said the reforms are important for strengthening Nigeria’s economy and improving how government raises revenue without relying too heavily on borrowing. Adeosun explained that Nigeria needs a fair and efficient tax system that encourages compliance while reducing […]
Rivers: Governor Fubara’s EXCO approves N1.85trn 2026 budget proposal
The Rivers State Executive Council has approved a ₦1.85 trillion budget proposal for the 2026 fiscal year. The approval was given during a recent EXCO meeting presided over by Governor Siminalayi Fubara at the Government House in Port Harcourt. The move marks a major step toward the formal presentation of the budget to the State […]
New tax law could ignite job loss, destroy small businesses — Group warns
A civil society group has warned that the newly introduced tax law could lead to job losses and the collapse of many small and medium-sized businesses across the country. The group said the policy, if not reviewed, may place heavy financial pressure on entrepreneurs who are already struggling with rising costs and low consumer spending. […]
Tax reform laws: Osun group urges FG to reconsider kick-off date
A civil society group in Osun State has asked the Federal Government to reconsider the planned start date for the new tax reform laws. The group said the timeline is too short and could create confusion for businesses, workers, and state agencies that are still trying to understand the changes. According to the group, many […]
Taxes Are Not The Reason For High Airfare In Nigeria – NCAA
The Nigerian Civil Aviation Authority (NCAA) has said that high taxes are not responsible for the rising cost of domestic flight tickets in Nigeria. According to the regulator, airlines have repeatedly blamed government charges for high fares, but investigations do not support that claim. The NCAA said it invited all domestic airlines to discussions and […]
New tax laws: Nigerians don’t trust Tinubu’s govt on expenditure – Financial Analyst, Aja
Financial analyst Aja has expressed concern over Nigerians’ lack of trust in the federal government regarding the implementation of new tax laws. According to him, citizens are worried that revenue collected may not be spent transparently or efficiently. Aja highlighted that past experiences with government spending have made many Nigerians cautious about accepting new tax […]