The Senate has approved President Bola Tinubu’s request for $6bn in external loans, just hours after receiving his letter. 

Finance Minister Wale Edun says Nigeria is now on a path of stabilisation and recovery, despite current economic hardship.

President Bola Tinubu has asked the National Assembly to approve an adjustment to the 2026 Appropriation Bill, proposing a ₦9 trillion increase to raise the total budget from ₦58.4 trillion to ₦67.4 trillion.

The average price of gasoline in the United States has surged to $4 per gallon, marking the first time fuel costs have reached that level since 2022, according to a report by CNN on Tuesday.

The Strait of Hormuz is not just a narrow stretch of water on the map; it is the pressure valve of the global economy. When it flows, markets breathe. When it is threatened, the world tightens. In the past month, following the United States and Israel’s strikes on Iran, that valve has been squeezed harder than at any time in recent history, revealing just how dangerously dependent the modern world remains on a single maritime corridor.

Nigeria has a $14bn annual infrastructure investment gap, according to Finance Minister Wale Edun, who said the government is seeking both domestic and foreign capital to bridge the shortfall.