Economy

The NUPRC says Dangote Refinery rejected about 15.5 million barrels of crude offered by producers in Q2 2026. The regulator reported that producers offered 68.1 million barrels, but the refinery accepted 52.6 million barrels. Dangote disputed the figures...

Nigerians consumed 15.32 million terabytes of internet data between June 2025 and May 2026. The consumption was estimated to be worth N6.6tn, based on an average data value of N431 per GB. Monthly data usage climbed 44%, reaching...

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...

African governments, funders and health innovators have made 10 commitments to accelerate digital health transformation across the continent. The commitments target healthcare financing, primary healthcare, maternal and child health, innovation and ethical health data sharing. Organisers say progress...

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...

August 03, (THEWILL) — The Chairman of the Alliance for Economic Research and Ethics (AERE), Dele Oye, has said that the record $4.375 billion achieved in Nigeria's foreign exchange market within a single week has exposed the vulnerability of...

Nigeria's government is developing a framework to reduce the cost of capital without introducing new subsidies in a bid to stimulate private investment and economic growth. Finance Minister Taiwo Oyedele also announced that a detailed report on savings...

Central Bank of Nigeria Governor Yemi Cardoso says recent economic reforms are rebuilding investor confidence and strengthening Nigeria's resilience. He argues that artificial intelligence, stronger institutions and macroeconomic stability will determine Africa's competitiveness in the evolving global economy. ...

The WTO's Director-General, Dr Ngozi Okonjo-Iweala, says Africa has a rare opportunity to benefit from global supply-chain diversification driven by geopolitical tensions. She urged countries to move beyond exporting raw materials and develop regional value chains. Okonjo-Iweala also...

The ECOWAS Parliament has endorsed calls for sanctions against member states that fail to comply with regional trade protocols. Lawmakers argued that stronger enforcement is needed to remove barriers to the free movement of people, goods and services. ...