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Tag: Nigeria

Business

Nigeria reports 21% drop in oil revenue for Q4 2024

The Federation’s Budget Office reported that the federal government earned N3.34 billion in net oil revenue in the fourth quarter of 2024. According to its Q4 2024 budget implementation report, this amount fell 21 per cent short of the quarterly budget estimate of N4.24 billion. “The actual Net Oil Revenue that accrued into the Federation […]

South Africa to alter taxation laws for remote workers
Business

Nigeria, S’Africa strengthen economic ties at Lagos ministerial roundtable

Nigeria and South Africa have reaffirmed their commitment to strengthening bilateral economic ties during the Ministerial Business Roundtable in Lagos, where leaders from both countries discussed concrete strategies to enhance trade, investment, and industrial development across Africa. The meeting was held on Thursday, at the Rooftop Event Centre, MTN Plaza, Ikoyi, and brought together senior […]

News

Nigeria backs $2tn commonwealth trade initiative to boost economic ties

Nigeria has joined other Commonwealth nations in advancing a $2 trillion trade initiative designed to deepen economic cooperation, enhance resilience, and promote sustainable growth across member states. This was disclosed in a statement issued on Monday by the FCAI Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga. According to […]

Opinion

Nigeria squandered its potential due to poor leadership – Activist

Human rights activist and political commentator Ann-Kio Briggs expressed deep disappointment with Nigeria’s developmental trajectory, asserting that the nation has failed to meet expectations since gaining independence in 1960. Speaking on ARISE News Night on Wednesday, Briggs attributed the country’s stagnation to years of poor leadership and wrong choices that have ultimately squandered Nigeria’s potential. […]

Business

Momentum builds for $25bn Nigeria-Morocco gas pipeline project

The $25 billion Nigeria-Morocco Gas Pipeline project is gaining momentum with the establishment of a dedicated project company and growing international financial support. Spanning nearly 6,000 km across West Africa, the pipeline aims to boost regional energy access while providing a reliable route for Nigerian gas exports to Europe. Morocco’s National Office of Hydrocarbons and […]

Business

Nigeria, South Africa to exit dirty-money list October

Nigeria and South Africa may be removed from the Financial Action Task Force grey list as soon as next month, a move expected to strengthen investor confidence in Africa’s two largest economies. The Paris-based FATF, which oversees global measures against money laundering and terrorist financing, added both countries to the grey list in February 2023 […]

News

Nigeria’s external reserves hit six-year high with $42bn

Nigeria’s external reserves have risen to their highest level in six years, surpassing $42bn for the first time since September 2019. Central Bank of Nigeria data show the reserves stood at $42.03bn on 19 September 2025, signalling a strong rebound from earlier lows this year and boosting confidence in foreign exchange stability. This latest figure […]

Business

Nigeria saves $1.7m as e-call-up clears 3.2m trucks

The chaotic gridlock that paralyzed Lagos ports and disrupted Nigeria’s maritime economy for over a decade is easing, following the rollout of the Ètò electronic call-up system operated by Trucks Transit Parks Limited. Since its launch in February 2021, Ètò has processed more than 3.2 million truck and non-port movements in 54 months, cutting turnaround […]

News

Nigeria Ranked 105th in global Innovation index

Nigeria has been ranked 105th in the World Intellectual Property Organisation Global Innovation Index 2025, emerging as one of the fastest climbers despite falling short of the top 100. The country also leads globally in unicorn valuation, reflecting growing venture capital activity and high-tech investment. WIPO, the UN agency supporting innovators worldwide, evaluates nearly 140 […]

News

Nigeria sets 2060 target for net-zero emissions

President Bola Tinubu has reiterated Nigeria’s pledge to reach net-zero emissions by 2060, aiming to balance the greenhouse gases released into the atmosphere with those removed. Former President Muhammadu Buhari set Nigeria’s target for net-zero emissions by 2060 at the 2021 COP26 climate summit in Glasgow. On Monday, President Tinubu reaffirmed this commitment at the […]

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