Abuja, Nigeria | September 18, 2025 Nigeria has recorded its highest-ever revenue distribution as the Federation Accounts Allocation Committee (FAAC) shared a total sum of ₦2.225 trillion among the three tiers of government for August 2025. According to the FAAC communiqué issued after its meeting in Abuja, the gross federation revenue for the month stood
ABUJA – A staggering N2.22 trillion was spent on agricultural imports in the first half of 2025, a new report has revealed, sparking fierce criticism from farmers and industry stakeholders who blame Federal Government policies for crippling local production and failing to address the root causes of food insecurity. The latest data from the National
Abuja | September 13, 2025 — Nigeria recorded a sharp rise in its trade surplus in the second quarter of 2025, with the figure increasing by 44 per cent compared to the same period last year, according to the National Bureau of Statistics (NBS). The bureau reported that the country’s total merchandise trade in Q2
Nigerians may finally be getting a measure of relief at the markets as food prices begin to show a noticeable decline across the country. This development was confirmed by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, who stated that recent interventions by the Federal Government under President Bola Ahmed Tinubu are beginning
In a bid to foster economic growth and improve the nation’s tax system, Nigeria is recalibrating its approach to tax incentives, moving away from the old Profit Sharing Incentive (PSI) model to a more refined and strategic Export Development and Tax Incentive (EDTI) framework. This shift aims to streamline the country’s tax policies, encourage investment,
Abuja — The Federal Ministry of Agriculture and Food Security (FMAFS) has pledged its commitment to work closely with the Amana Farmers and Grains Supplies Association of Nigeria (AFGSAN) in advancing food sovereignty, economic diversification, and boosting farmers’ incomes across the country. Speaking during a courtesy visit by AFGSAN’s delegation led by its Chairman, Alhaji
The Minister of Interior, Olubunmi Tunji Ojo, has stated that President Bola Ahmed Tinubu’s administration inherited an economy riddled with deep structural imbalances, describing it as “heavily distorted” and in urgent need of sweeping reforms. The minister made this known during a public address while speaking on the state of the nation’s economy and the
Prominent Nigerian industrialist and philanthropist, Abdul Samad Rabiu, has reiterated the urgent need for African nations to redirect their energies inward, if the continent is to experience genuine, lasting development. Speaking on the state of Africa’s economic trajectory, Rabiu emphasized that the continent can only achieve real progress by prioritising local solutions, adding value to
Nigeria’s Gross Domestic Product (GDP) is projected to record a moderate expansion in the second quarter of 2025, with analysts estimating growth to fall between 3.2% and 3.9%. This anticipated uptick is being attributed to a combination of key economic factors, including the recent GDP rebasing, a relatively stable foreign exchange environment, and increased momentum
Firebrand South African opposition leader and President of the Economic Freedom Fighters (EFF), Julius Malema, has once again stirred continental discourse after calling for Africa to unite under one economic system, a single currency, and a centralized military structure. Speaking yesterday during a public engagement, Malema stressed that the time had come for African nations
