In Nigeria’s bustling informal economy, payments rarely come with clarity, receipts, or even definitions. Across markets and transport hubs, traders and workers navigate a complex web of compulsory levies that are collected routinely but scarcely explained.

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.

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.

Nigeria’s exports to China will enjoy zero-tariff access from May 1, 2026, following a new trade agreement between both countries.