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.

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

Data from the National Bureau of Statistics (NBS) showed imports remained significant across all quarters, with values of ₦125bn in Q1, ₦117bn in Q2, ₦92bn in Q3, and ₦101bn in Q4.

The Dangote Petroleum Refinery has assured Nigerians of adequate fuel supply, but warned that it may export products if it continues to rely on imported crude.  

The Managing Director of the Nigerian Communications Satellite (NIGCOMSAT), Jane Egerton-Idehen, has announced that President Bola Ahmed Tinubu has approved two additional communication satellites, NIGCOMSAT 2A and 2B, for Nigeria’s space programme.

Saudi Arabia’s oil officials are privately warning that crude prices could surge beyond $180 per barrel if disruptions to global energy supplies caused by the Iran war persist past late April.

The Centre for the Promotion of Private Enterprise (CPPE) has warned that Nigeria’s small and medium enterprises (SMEs) face a ₦48tn financing gap, despite recent banking sector reforms.

The United States sharply reduced its imports of Nigerian crude oil in January 2026, with volumes dropping by 47.16% month-on-month, according to U.S. Census Bureau and Bureau of Economic Analysis data.