The Federal Government has disclosed that state governments account for about 48% of Nigeria’s total public expenditure, underscoring the need for stronger coordination across all tiers of government.
President Bola Tinubu on Monday swore in Mr Taiwo Oyedele as Minister of State for Finance, describing his appointment as a strategic move to consolidate ongoing fiscal and tax reforms aimed at strengthening Nigeria’s economic stability.
Nigeria’s rising external reserves and sweeping trade reforms are emerging as the strongest economic signals ahead of President Bola Ahmed Tinubu’s official visit to the United Kingdom at the invitation of King Charles III, shifting attention from diplomacy to macroeconomic stability and competitiveness.
By the time President Bola Ahmed Tinubu assented to the four landmark tax reform bills on June 26, 2025, Nigeria had already travelled a long and, at times, politically charged road.
President Bola Ahmed Tinubu has approved the creation of a Presidential Petroleum Reform and Value Optimisation Task Force to design the next phase of structural reforms in Nigeria’s petroleum sector.
The Federation Account Allocation Committee (FAAC) received 100 percent of profit oil from Production Sharing Contracts (PSCs) remitted by the Nigerian National Petroleum Company Limited (NNPC Ltd).
