04.05.2026

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Finance

Tinubu Defends Borrowing as Nigeria’s Debt Nears ₦159 Trillion Amid Fiscal Concerns

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Nigeria debt borrowing debate has intensified as total public debt approaches ₦159 trillion, with President Bola Ahmed Tinubu defending continued borrowing to fund infrastructure and reforms. Critics warn of rising fiscal risks, highlighting concerns over debt sustainability, revenue constraints, and the long-term impact of sustained borrowing on economic stability....

JP Morgan Backs Afreximbank Bonds After Fitch Downgrade

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Investor confidence around Afreximbank bonds came into focus after JP Morgan publicly backed the lender’s debt despite a recent downgrade by Fitch Ratings. The move highlights diverging views within global markets on African development finance risks, even as rating agencies reassess exposure amid tightening global financial conditions....

IMF Global Growth Outlook 2026 Nigeria Ranks Among Top Contributors

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Nigeria has been listed among the world’s top contributors to global economic growth in 2026, according to the International Monetary Fund. The IMF global growth outlook 2026 Nigeria projection places the country ahead of several advanced economies in the Fund’s latest ranking and underscores a wider shift toward emerging markets as the main engines of world expansion....

Nigeria’s Tax Deadline Is Closer Than It Looks — What the Annual Returns Rule Really Means

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As Nigeria’s annual tax filing deadline approaches, authorities are intensifying compliance efforts, warning individuals and businesses against late submissions. The push is part of a broader reform drive to expand the tax base and improve transparency. For many taxpayers, however, confusion remains over who must file, what qualifies as compliance, and what penalties apply....

Senate Targets March 17 for Passage of ₦58.47tn 2026 Budget, Sets Tight Review Timetable

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The Nigerian Senate has fixed March 17, 2026, for the final passage of the ₦58.47 trillion federal budget, unveiling an accelerated timetable for committee scrutiny, public hearings, and engagement with key economic managers. Lawmakers say the schedule is designed to balance speed with detailed oversight as fiscal pressures and reform expectations intensify....

₦58.4 Trillion 2026 Budget Second Reading Without Debate: What Nigeria’s Silence in the House Really Means

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Nigeria’s House of Representatives moved the ₦58.4 trillion 2026 budget through second reading without debate, after a closed-door meeting and brief remarks by the House Leader. The bill is now with the Appropriation Committee. This deep dive explains why “no debate” matters, what scrutiny shifts to committees, and the signals it sends ahead of 2027....

₦58.4 Trillion 2026 Budget Passes Second Reading Without Debate in House

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Nigeria’s House of Representatives passed the ₦58.4 trillion 2026 budget through second reading without debate, a rare legislative moment that raises questions about oversight, executive–legislative balance, and pre-2027 politics. While leaders cite macroeconomic gains, the silence on the floor is as consequential as the numbers themselves....

Workers React to New Tax Laws as Take-Home Pay Changes

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Nigerian workers have expressed mixed reactions to the new tax laws as changes to PAYE deductions alter take-home pay across income bands. While some employees report slight increases in net earnings, others say the gains are marginal and insufficient to offset rising living costs, highlighting uneven outcomes in early implementation of the reforms....

Rewane Projects Inflation Averaging 16% in 2026

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Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, has projected that inflation averaging 16% will define Nigeria’s economic outlook in 2026. He attributes the forecast to base-year effects from the new CPI methodology, exchange rate pressures and debt servicing costs, urging businesses to prioritise strategic liquidity and risk management amid lingering macroeconomic uncertainty....

Oyedele Says PAYE Cuts Are Raising Workers’ Take-Home Pay Under New Tax Laws

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Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, says PAYE cuts are already increasing workers’ take-home pay under Nigeria’s new tax laws. While acknowledging mixed feedback from employees, he insists early salary data confirms reduced deductions and higher net income for most workers, adding that further engagement with employers is underway to address implementation gaps...

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