Business

Nigeria Revenue Service Chairman Zacch Adedeji has identified fuel subsidy, an opaque foreign exchange market, an underperforming oil sector and a narrow tax base as four major economic distortions inherited by the Tinubu administration. Adedeji said the problems...

Nigerian onion traders have suspended exports to Ghana and asked ECOWAS to intervene, saying repeated disputes and alleged harassment of traders have made cross-border trade increasingly difficult. The latest action follows an earlier suspension in April after Nigerian...

Nigeria’s tax collections rose 113 percent from ₦12.3 trillion in 2023 to ₦27.1 trillion by July 2026, with the Nigeria Revenue Service attributing the increase to tax-system digitisation, new tax laws and measures to close revenue leakages. The...

Nigeria’s non-oil exports rose from $2.97bn in 2013 to a record $6.1bn in 2025, while the number of export markets increased from 93 to 210. Nigerian exporters added 117 markets over the period, including Nepal, Sri Lanka, Oman,...

August 10, (THEWILL) — Nigeria’s recent emergence as the world’s best-performing stock market in 2026 was received with mixed feelings. The rally was built on an exceptional performance recorded a year earlier when the Nigerian Exchange (NGX) ranked as...

Domestic refining capacity has risen from 30,000 bpd to about 700,000 bpd. Tax revenue climbed from ₦12.3trn in May 2023 to ₦27.1trn by July 2026. Nigeria recorded a ₦7.55trn trade surplus in Q1 2026. Minimum wage has risen...

Aradel Holdings and Seplat Energy ended the first half of 2026 with combined assets of ₦19.11tn, reflecting the growing scale of Nigeria’s indigenous upstream oil companies. Aradel accounted for ₦10.87trn of the combined asset base after consolidating major...

Nigeria Revenue Service Chairman Zacch Adedeji says the government’s tax reforms are designed to increase economic prosperity rather than extract more money from households and businesses. Adedeji said the NRS has a direct interest in businesses succeeding because...

Nigeria’s tax revenue surged 113% to N27.1tn by July 2026 from N12.3tn in 2023. The Nigeria Revenue Service linked the increase to tax digitisation, new tax laws and tighter revenue administration. Oil production, foreign reserves, capital inflows and...

Refined petroleum products became the UK’s biggest goods import from Nigeria, worth £674.5 million in the year to March 2026. Nigerian crude oil imports fell 64.3%, dropping below refined petroleum products for the first time in the latest...