IMF Reports 72% Decline in Nigeria's GDP Per Capita, Signaling Economic Downturn   Nigeria, Africa's largest oil producer with a population of over 200 million, has experienced a decade-long economic slump, marked by a staggering 72.35% decline in its GDP per capita. Data obtained from the website of the International...

N54.99trn Budget Faces Funding Challenges as Debt Servicing Hits N14trn   On Thursday, the National Assembly passed the 2025 budget, totaling N54.99 trillion. The allocation includes N14.32 trillion for debt repayment and N13.64 trillion for recurrent expenses, such as salaries, overhead costs, and general government operations. Economists and...

Airline Operators Bemoan Excessive Taxes in Nigeria's Aviation Industry   Prof Obiora Okonkwo, Founder of United Nigeria Airlines and spokesperson for the Airline Operators of Nigeria, has expressed dismay over the numerous charges imposed by government agencies on the aviation sector, stating that these levies have...

Reps Kick Against Telecom Tariff Hike The House of Representatives has called on the Minister of Communications, Innovation and Digital Economy, Bosun Tijani and the Nigerian Communications Commissions (NCC), to suspend the impending hike in telecommunications tariffs until their service improved. The call followed the adoption...

NECA Raises Alarm Over Customs' FOB Charge, Predicts N2.84trn Burden   The Nigeria Employers’ Consultative Association (NECA) has warned that the newly introduced four per cent Free On-Board valuation on imports by the Nigeria Customs Service will impose an additional N2.84tn in costs on businesses, worsening...

AfDB Expresses Concern Over Slow Progress of Nigeria's $210m Agro-Industrial Project   The African Development Bank (AfDB) has expressed dissatisfaction over the slow progress of the first phase of Nigeria’s Special Agro-Industrial Processing Zones project, raising concerns about the disbursement of the $210m loan allocated for...