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Finance Minister Inaugurates Committee to Draft New VAT Order Under Tax Reform Agenda

Six-week assignment to redefine VAT exemptions, strengthen implementation of Nigeria’s 2026 tax reforms ABUJA — The Federal Government has inaugurated an Inter-Ministerial Committee to develop a new Value Added Tax (VAT) Modification Order, marking another key step in implementing Nigeria’s sweeping tax reform programme. The committee was inaugurated on Friday by the Minister of Finance […]

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FG Opens $1bn AfCFTA Fund to Boost Nigerian Exports

Abuja, Nigeria The Federal Government has unveiled a $1 billion credit facility under the African Continental Free Trade Area (AfCFTA) Adjustment Fund to support Nigerian businesses seeking to expand production, strengthen competitiveness, and increase exports across African markets. The announcement was made in Abuja by the Minister of Industry, Trade and Investment, Jumoke Oduwole, during

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Senate Moves to Put Crypto Business Under Government Rules

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Abuja, Nigeria The Nigerian Senate has begun work on a new law that will regulate cryptocurrency and other digital asset businesses in the country. On Wednesday, June 10, 2026, senators passed the proposed Digital Assets Bill for second reading, moving it to the next stage of the lawmaking process. If eventually approved, the law will

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FCMB Makes N86.99bn Profit, Shareholders Await Final Dividend Approval

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Lagos, Nigeria FCMB Group has reported a strong financial performance, recording a profit before tax of N86.99 billion in the first three months of 2026. This is a major increase from the N35.02 billion it made during the same period in 2025. The bank’s profit after tax also rose sharply to N76.53 billion, up from

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New NERC Rules Turn Solar Users into Power Suppliers

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Abuja, Nigeria The Nigerian Electricity Regulatory Commission (NERC) has introduced new rules that will allow some Nigerians and organisations using solar power to sell their excess electricity to electricity distribution companies (DisCos). The new policy, known as the Net Billing Regulations 2026, is aimed at encouraging more investment in solar energy while helping to improve

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Foreign Cash Pours In as Direct Investment Crashes

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ABUJA, NIGERIA Nigeria attracted more foreign money in the first three months of 2026, but most of that money went into short-term investments rather than businesses, factories, or major projects that can create jobs. New figures released by the National Bureau of Statistics (NBS) show that Foreign Direct Investment (FDI) — the type of investment

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The Great Telecom Betrayal: Nigerians Pay More for poor network

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Nigeria’s telecom subscribers are paying significantly higher prices for calls, data and digital services, yet network failures, dropped calls, slow internet speeds and recurring outages remain widespread. A new TMN investigation reveals how chronic infrastructure damage, weak regulatory enforcement and rising operational costs have combined to create a troubling reality: millions of Nigerians are spending more to stay connected while receiving increasingly unreliable service. As the country’s digital economy expands, the growing gap between tariffs and quality is emerging as one of Nigeria’s most consequential economic and development challenges.

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FG, FMBN Promise Affordable Housing Relief For Civil Servants Nationwide

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Federal Workers To Get Support For Rent, House Renovation And Home Ownership ABUJA, NIGERIA The Federal Government and the Federal Mortgage Bank of Nigeria (FMBN) have signed a N10 billion agreement to help federal civil servants get better access to affordable housing across the country. The new housing package is expected to support workers with

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₦170 Billion Lost on Nigerian Stock Market Despite S&P Rating Upgrade

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Lagos — Approximately ₦170 billion was wiped off the value of the Nigerian stock market following a selloff in mid-cap equities, rattling investors despite renewed optimism generated by Nigeria’s recent sovereign credit rating upgrade by S&P Global Ratings. The decline on the Nigerian Exchange Group came as investors engaged in profit-taking and repositioning amid continued

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Africa Forward Summit Demands Global Financial Reform

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Nairobi — African leaders, economists, and policymakers at the Africa Forward Summit in Nairobi have issued renewed calls for sweeping reforms to the global financial system, arguing that current lending and capital structures are obstructing Africa’s industrialisation and long-term development ambitions. The summit brought together delegates from 54 African countries alongside international financial stakeholders, with

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