New data has shown that the United States of America has slashed its imports from Nigeria, plunging by 41% in one month, as tensions escalate over tariffs.
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All you need to know as FG says no tax ID, no bank account by January 1, 2026
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FG orders immediate release of ₦250bn loan to farmers, targets food security
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Finally, Dangote free fuel distribution begins, new petrol prices emerge
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Naira surges on CBN’s $29m intervention, analysts predict break below N1,500
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Do you need a tax ID to open a bank account in Nigeria? Here’s the truth
Economy Latest News
US economic growth steady in 2024 as Trump takes office
The US economy expanded at a solid clip in 2024, helped by consumer and government spending, official data showed Thursday, signaling its resilience as President Donald Trump takes over the reins. Consumer spending, investment and government spending were among the drivers behind last year's growth, according to Commerce Department data.
El Salvador merchants no longer obliged to accept bitcoin
Merchants in El Salvador, the first country to make bitcoin legal tender, will no longer be obliged to accept the cryptocurrency as payment, under a reform adopted to comply with conditions for an international loan. The IMF had said the loan was "to address balance of payment needs and support the government’s economic reforms."
FIRS unveils strategy to achieve N25.2 trillion tax revenue target in 2025
Following the N25.2 trillion tax revenue assigned by the National Assembly, the Federal Inland Revenue Service (FIRS) have finally come up with a strategy.
FG set to earn N1.6trn, create 2 million jobs from 50% Telecom tariff hike
While Nigerian subscribers continue to reject the approved 50% telecom tariff increase, a recent GSMA report has revealed that it can bring in N1.6trillion to the FG
France, Germany stall eurozone growth in fourth quarter
Eurozone growth slowed to a halt in the fourth quarter last year, dragged by contractions in major powers Germany and France which were held back by economic headwinds and political instability. At one end of the eurozone spectrum Spain saw its economy expand by 3.2 percent last year -- while at the other Germany endured a 0.2-percent contraction and a second year of recession.
Top 10 states in Nigeria with highest domestic debts
The Debt Management Office has revealed that Nigeria's public debt profile has increased and also provided a breakdown of state's domestic debt level.
CBN identifies high bank charges, others as challenges to business growth in Nigeria
A new CBN report shows that high bank charges posed a major challenge to businesses in 2024. Rising inflation has further compounded this issue...
Scottish court rules against two new North Sea oil and gas fields
A Scottish court on Thursday ruled against the development of two oil and gas fields in the North Sea in a "historic win" for two environmental groups.
Nigerian banks see surge in loan defaults amid economic hardship
As the economic woes in Nigeria have been on the increase, so have the loan default rates. The lates CBN survey report shows a surge in loan default rates.
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