Economy

Nigeria Burns Through Gas Wealth as Flaring Persists Across Oilfields

Nigeria flared approximately 76.9 billion standard cubic feet of natural gas between January and May 2026, highlighting the continued challenge…

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Tinubu Defends Tough Reforms as Nigeria Marks Three Years of Economic Reset

President Bola Tinubu has defended his administration’s economic reform programme, saying the measures introduced since 2023 have stabilised Nigeria’s economy,…

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Nigeria Generates ₦15.8 Trillion in Tax Revenue Amid Aggressive Fiscal Reforms

Nigeria recorded a substantial increase in tax collections during the first five months of 2026 as the Federal Government’s ongoing…

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Fortis Global Insurance Begins Share Capital Reconstruction, Suspends Trading

Fortis Global Insurance Plc has commenced the reconstruction of its share capital following the receipt of all required regulatory approvals,…

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Rising Oil Exports Boost Nigeria’s External Balance to $4.98 Billion Surplus

Nigeria recorded a substantial improvement in its external sector position as stronger crude oil exports helped drive the country’s current…

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AfDB-Backed Wheat Programme Faces Uncertainty Amid Funding Hold-Up

Nigeria’s efforts to expand domestic wheat production are facing fresh challenges as delays in the release of development financing threaten…

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Cornerstone Insurance Grows Revenue by 34%, Proposes 28 Kobo Dividend as HoldCo Plans Advance

Cornerstone Insurance Plc has reported strong financial performance for the 2025 financial year, posting double-digit growth in insurance revenue, a…

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Nigeria’s Company Income Tax Falls to ₦1.37 Trillion in Q1 2026 Amid Broad-Based Decline

Nigeria’s Company Income Tax (CIT) collections declined to ₦1.37 trillion in the first quarter (Q1) of 2026, according to the…

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Digital Adoption Gap Threatens Africa’s $290 Billion Mobile Economy Potential

Africa’s rapidly expanding mobile sector could contribute nearly $290 billion to the continent’s economy by the end of the decade,…

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Nigeria’s Inflation Rate Rises to 15.93% in May as Food Prices Remain Elevated

Nigeria’s headline inflation rate increased to 15.93 percent in May 2026, up from 15.69 percent recorded in April 2026, according…

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