Specifically, the chronic underdevelopment of the local government system, a tier that should be the nerve centre of citizen reality but has instead been reduced to a ceremonial appendage.
Nigeria’s dollar GDP rose by 22% to $307.5 billion in 2025, driven by stronger economic output and a firmer naira, according to a report by Quartus Economics.
Nigeria’s trade momentum strengthened in Q1 2026, as new data from the Nigeria Customs Service (NCS) showed significant growth in export volumes, revenue collections, and cargo throughput.
Nigeria is set to benefit from rising foreign exchange inflows as global crude oil prices surged above $105 per barrel, far above the 2026 budget benchmark of $64.85.
Subnational external debt rose sharply in 2025, with 32 states and the Federal Capital Territory (FCT) accumulating nearly $5.7bn, despite higher inflows from the Federation Account Allocation Committee (FAAC).
The Nigerian Exchange (NGX) closed April 2026 at a record high, with total market capitalisation hitting ₦155.9tn and investors gaining ₦2.68tn, despite volatility in banking stocks.
