LASG, MTN Partner to Redevelop Obalende Under‑Bridge into Y’ELLO Bus Park

BusinessNewsNigeriaLASG, MTN Partner to Redevelop Obalende Under‑Bridge into Y’ELLO Bus Park

By Ezinwanne Onwuka (Senior Reporter)January 28, 2026

The Lagos State Government has announced a strategic partnership with MTN Nigeria to redevelop the long‑neglected Obalende under‑bridge into a modern transport hub to be known as the Y’ELLO Bus Park. The project aims to transform one of the city’s most congested and degraded spaces into a safe, functional and environmentally friendly facility for commuters and residents. Tokunbo Wahab, the state’s Commissioner for Environment and Water Resources, made the announcement on Tuesday via his official...

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Nigeria’s FX Reserves Hit $46bn, Highest Level Since 2018

BusinessNewsNigeriaNigeria’s FX Reserves Hit $46bn, Highest Level Since 2018

By Ezinwanne Onwuka (Senior Reporter)January 25, 2026

Nigeria’s foreign exchange (FX) reserves climbed to US$46.01 billion on 22 January 2026, data from the Central Bank of Nigeria (CBN) show. This marks the highest level in almost eight years. The figure, released in the CBN’s latest reserves report, represents a steady year-to-date increase of about 0.99 per cent, rising from US$45.56 billion on 1 January to US$46.01 billion on 22 January. On 21 January, reserves were reported at US$45.98 billion, indicating consistent accretion....

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Nigeria Delisted from EU High-Risk Financial Jurisdiction List

BusinessNewsNigeriaPoliticsNigeria Delisted from EU High-Risk Financial Jurisdiction List

By Ezinwanne Onwuka (Senior Reporter)January 17, 2026

Nigeria has been formally removed from the European Union’s list of high-risk third-country jurisdictions for anti-money laundering and counter-terrorism financing (AML/CFT). The European Commission’s update takes effect on 29 January 2026. Under the revised list contained in European Commission Delegated Regulation (EU) C (2025) 8460, Nigeria was delisted alongside five other African countries — South Africa, Burkina Faso, Mali, Mozambique and Tanzania — following sustained reforms to strengthen national AML/CFT frameworks. The delisting decision reflects...

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Food Inflation Falls to 10.84% in December

BusinessNewsNigeriaFood Inflation Falls to 10.84% in December

By Ezinwanne Onwuka (Senior Reporter)January 17, 2026

Nigeria’s headline inflation rate eased to 15.15 per cent in December 2025, the National Bureau of Statistics (NBS) has reported. According to the latest Consumer Price Index (CPI) report released on Thursday, the CPI index rose to 131.2 points in December 2025 from 130.5 points in November, indicating that prices continued to rise but at a significantly slower pace. On a year-on-year basis, the inflation rate declined from 17.33 per cent in November 2025 and...

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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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