World Bank Upgrades Nigeria’s Growth Forecast to 4.4% for 2026, 2027

BusinessNewsNigeriaWorld Bank Upgrades Nigeria’s Growth Forecast to 4.4% for 2026, 2027

By Ezinwanne Onwuka (Senior Reporter)January 14, 2026

Nigeria’s economy is on track to record its fastest growth in more than a decade, the World Bank has said, revising its forecast for the country’s economic growth to 4.4 per cent for both 2026 and 2027. The announcement was made in the World Bank’s latest Global Economic Prospects report, released on Tuesday. The revised growth projection marks a significant improvement over the June 2026 forecasts of 3.7 percent and 3.8 percent, respectively. According to...

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Nigeria Secures Tariff-Free Access to UAE Market as CEPA Takes Effect

BusinessNewsNigeriaNigeria Secures Tariff-Free Access to UAE Market as CEPA Takes Effect

By Ezinwanne Onwuka (Senior Reporter)January 14, 2026

…Tinubu Announces Investopia Lagos Co-Hosting Nigeria and the United Arab Emirates (UAE) have signed a Comprehensive Economic Partnership Agreement (CEPA), aimed at deepening trade, investment, and economic cooperation between the two countries, as government officials described it as a major milestone in Nigeria’s economic diplomacy. The agreement was signed on the sidelines of the 2026 Abu Dhabi Sustainability Week (ADSW) in Abu Dhabi, with President Bola Tinubu and the President of the UAE, Mohamed bin...

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Presidential Tax Committee Counters KPMG’s Criticisms of New Tax Laws

BusinessNewsNigeriaPresidential Tax Committee Counters KPMG’s Criticisms of New Tax Laws

By Ezinwanne Onwuka (Senior Reporter)January 10, 2026

The Presidential Fiscal Policy and Tax Reforms Committee has rejected most of the concerns raised by global advisory firm, KPMG, over Nigeria’s new tax laws, describing the firm’s publication as largely based on “misunderstanding of the policy intent” and the presentation of “opinion and preferences as facts.” The committee, in a detailed response, dated 10 January 2026, by its chairman, Taiwo Oyedele, acknowledged that KPMG raised a few useful points, particularly on implementation risks and...

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Togo, Niger, Benin owe Nigeria $11.57m in electricity — NERC

BusinessNewsNigeriaTogo, Niger, Benin owe Nigeria $11.57m in electricity — NERC

By Ezinwanne Onwuka (Senior Reporter)January 8, 2026

The Nigerian Electricity Regulatory Commission (NERC) has disclosed that Togo, the Niger Republic, and the Benin Republic owe Nigeria a total of $11.57 million for electricity supplied in the third quarter (Q3) of 2025. The commission made this known in its Q3 2025 report, released this week. According to NERC, the Market Operator (MO) issued an invoice of $18.69 million to the three countries for electricity supplied by Nigerian electricity generation companies (GenCos) under bilateral...

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New Tax Laws to Take Effect January 1, 2026 — Tinubu

BusinessNewsNigeriaNew Tax Laws to Take Effect January 1, 2026 — Tinubu

By Ezinwanne Onwuka (Senior Reporter)December 30, 2025

President Bola Ahmed Tinubu has confirmed that Nigeria’s new tax laws will take effect on 1 January 2026, as previously scheduled, dismissing calls for a pause or reversal amid growing public debate over certain provisions of the gazetted law. In a State House press statement issued on Tuesday, 30 December 2025, the President stated that both the tax laws that took effect on 26 June 2025 and those slated for implementation in 2026 would proceed...

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Finance Ministry Assures Investors After Joint Nigeria–US Security Operation

BusinessNewsNigeriaFinance Ministry Assures Investors After Joint Nigeria–US Security Operation

By Ezinwanne Onwuka (Senior Reporter)December 29, 2025

The Federal Ministry of Finance has assured investors and international partners that Nigeria remains stable and focused on economic growth, following a joint security operation conducted by Nigerian and United States forces in Sokoto on Christmas Day. In a statement issued on Sunday, Minister of Finance and Coordinating Minister of the Economy Wale Edun said the operation should not be misinterpreted as a sign of internal conflict or instability. “Nigeria remains firmly on a path...

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Tinubu Writes Off $1.42bn, ₦5.57trn NNPC Legacy Debts

BusinessNewsNigeriaTinubu Writes Off $1.42bn, ₦5.57trn NNPC Legacy Debts

By Ezinwanne Onwuka (Senior Reporter)December 29, 2025

President Bola Tinubu has approved the cancellation of a substantial portion of the debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account, resulting in a reduction of approximately $1.42 billion and ₦5.57 trillion after a reconciliation of records. The approval was contained in a document prepared by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and presented at the November 2025 meeting of the Federation Account Allocation Committee (FAAC). According...

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Tax Laws Issues: Oyedele Urges Nigerians to Await Lawmakers’ Findings

BusinessNewsNigeriaPoliticsTax Laws Issues: Oyedele Urges Nigerians to Await Lawmakers’ Findings

By Ezinwanne Onwuka (Senior Reporter)December 23, 2025

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has urged Nigerians to exercise patience and await the outcome of an investigation by the House of Representatives into claims that discrepancies exist between the gazetted tax laws and the versions passed by the National Assembly. The call follows allegations raised last Wednesday by Abdussamad Dasuki, a member of the House of Representatives from Sokoto State, who claimed that the tax laws...

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Nigerian Workers Protest Against Insecurity

BusinessNewsNigeriaNigerian Workers Protest Against Insecurity

Hassan Umar Shallpella (Regional Correspondent)December 18, 2025

Ahead of the Christmas and New Year festive period, members of the Nigeria Labour Congress (NLC) took to the streets across the 36 states of the federation and the Federal Capital Territory (FCT) on Wednesday, protesting against the insecurity that has bedeviled the country. The protest, which commenced as early as 8 am in the nation’s capital, was led by the President of NLC, Joe Ajaero, accompanied by the former presidential candidate of the African...

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Dangote Refinery Slashes Petrol Price to ₦699 per Litre, Market Responds

BusinessNewsNigeriaDangote Refinery Slashes Petrol Price to ₦699 per Litre, Market Responds

By Ezinwanne Onwuka (Senior Reporter)December 12, 2025

The Dangote Petroleum Refinery has again cut the price of petrol at its gantry, lowering the ex-depot rate from ₦828 to ₦699 per litre. The reduction took effect on 11 December 2025. This is the refinery’s 20th price adjustment this year as it continues to respond to market dynamics. The refinery’s petrol benchmark was reduced by ₦129 per litre, a decrease of about 15.58 per cent. The reduction follows remarks by Aliko Dangote, Chairman of...

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