FG, Labour Commence Discussion On Review Of Minimum Wage

BusinessNewsNigeriaFG, Labour Commence Discussion On Review Of Minimum Wage

Hassan Umar Shallpella (Regional Correspondent)June 19, 2026

The Nigeria Labor Congress (NLC) and the Trade Union Congress (TUC) have hinted that negotiations with the Federal Government have commenced to review the current minimum wage upward, so that Nigerian workers would receive a realistic wage package before the current wage framework expires. The current national minimum wage of ₦70,000 was approved in July 2024 following extensive negotiations between organized labor and the Federal Government. The agreement also provided for periodic reviews to ensure...

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Cost of Living Pressure Persists as Inflation Hits 15.93% in May

NewsNigeriaCost of Living Pressure Persists as Inflation Hits 15.93% in May

By Ezinwanne Onwuka (Senior Reporter)June 16, 2026

Nigeria’s headline inflation rate rose to 15.93 per cent in May 2026, extending a steady upward trend for the third consecutive month, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). The new figure represents an increase from 15.69 percent recorded in April and 15.38 percent in March, signaling persistent price pressures across key sectors of the economy despite a slower pace of monthly increases. Data from...

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FG Clears Backlog, Approves Payments to 1,240 Contractors

NewsNigeriaPoliticsFG Clears Backlog, Approves Payments to 1,240 Contractors

By Ezinwanne Onwuka (Senior Reporter)June 8, 2026

The Federal Government has approved payments to more than 1,240 local contractors, in a move aimed at injecting immediate liquidity into businesses and easing long-standing financial pressures across Nigeria. The approval was granted by the Honourable Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, following what the Ministry described as a “diligent verification and reconciliation” process to ensure that only valid claims were settled. According to a statement issued on Monday by...

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Tinubu Signs ₦68.32trn 2026 Budget

NewsPoliticsTinubu Signs ₦68.32trn 2026 Budget

By Ezinwanne Onwuka (Senior Reporter)April 18, 2026

…Extends 2025 Spending Deadline to June President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill valued at ₦68.32 trillion, setting the stage for what the Federal Government describes as a renewed push for economic stability, infrastructure development, and job creation. In a move that may also ease pressure on ongoing projects nationwide, the President simultaneously approved an extension of the 2025 budget implementation from 31 March to 30 June 2026. The newly...

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NESG Warns FG Against Reversal Of Economic Reforms

BusinessNewsNigeriaPoliticsNESG Warns FG Against Reversal Of Economic Reforms

Uzoamaka Ikezue (Staff Reporter)April 14, 2026

The Nigerian Economic Summit Group (NESG), has urged the Federal Government not to reverse some of the economic reforms introduced by the present administration, as the move will result in severe economic consequences and pains for the country. Head of Research, NESG, Dr. Joseph Ogebe, who gave the warning at an interactive session with journalists in Abuja on Monday, suggested to the Federal Government to consolidate on the recent macro-economic gains and ensure they translate...

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APC Says Middle East Crisis Negatively Affecting Economic Recovery

NewsNigeriaPoliticsAPC Says Middle East Crisis Negatively Affecting Economic Recovery

Uzoamaka Ikezue (Staff Reporter)March 11, 2026

The All Progressives Congress (APC) has said that the evolving crisis in the Middle East is negatively affecting Nigeria’s economic stability and recovery. The party, in a statement on Wednesday, signed by the Lagos State Spokesman, Mogaji (Hon.) Seye Oladejo noted that the conflict, though external, may constitute a setback to some of the recent macroeconomic gains. The statement reads, “We’ve been closely observing the unfolding developments in the Middle East and the broader implications...

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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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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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President Tinubu Presents ₦58.18tr 2026 Budget to NASS

NewsNigeriaPoliticsPresident Tinubu Presents ₦58.18tr 2026 Budget to NASS

By Ezinwanne Onwuka (Senior Reporter)December 19, 2025

President Bola Ahmed Tinubu on Friday presented a ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly, declaring that Nigeria had moved “from survival to growth” and was entering a phase of consolidation after two and a half years of painful economic reforms. The budget, themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” projects a deficit of ₦23.85 trillion, representing 4.28 per cent of GDP, with ₦15.52 trillion earmarked for...

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