17.06.2026

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Economy

AfDB Says Africa Will Dominate Global Growth Rankings Despite Inflation, Debt Pressure And Economic Slowdown

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Africa fastest growing economies are drawing renewed global investor attention after the African Development Bank projected that several African states will rank among the world’s strongest-performing economies despite inflation, debt pressure, and geopolitical instability. The AfDB says Africa is increasingly emerging as a major global growth frontier, intensifying international competition for capital, trade, energy, and strategic influence across the continent....

Tinubu Defends Painful Reforms, Says Nigeria Cannot Continue “Fake Life” Economy

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Tinubu economic reforms Nigeria debate intensified after President Bola Tinubu defended fuel subsidy removal, tax reforms, and foreign exchange restructuring at the Africa CEO Forum in Kigali. The president insisted Nigeria could no longer sustain what he described as a “fake life” economy, arguing that painful sacrifices today were necessary to prevent fiscal collapse, stabilize the country, and secure future generations....

FG Hands Foreign Illegal Mining Suspects To NSA Over Terrorism Concerns

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Illegal mining terrorism Nigeria concerns have escalated after the Federal Government disclosed that foreign nationals arrested for illegal mining activities and suspected terror-linked operations were handed over to the Office of the National Security Adviser for investigation. The development has intensified debate over resource theft, national security, foreign criminal networks, and the growing threat illegal mining poses to Nigeria’s economic stability....

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....

Nigeria Aviation Collapse Risk Surges as Airlines Threaten Nationwide Shutdown Over Fuel Crisis

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Nigeria aviation collapse risk has surged to a critical level as domestic airlines warn of a possible nationwide shutdown over spiralling Jet A1 fuel prices. Operators say revenues now barely cover fuel costs, with negotiations deadlocked. With a shutdown deadline looming, the crisis threatens travel disruption, economic activity, and the long-term stability of Nigeria’s aviation sector....

FG Cuts Vehicle Tariffs to 5%, Raises Excise on Alcohol and Tobacco in Fiscal Policy Shake-Up

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FG vehicle tariffs alcohol tobacco duties policy has shifted as the Federal Government reduces vehicle import tariffs to around 5% while increasing excise duties on alcoholic drinks and tobacco products. The adjustment, outlined in recent fiscal policy updates, signals a recalibration of revenue strategy, balancing consumer relief with targeted taxation amid Nigeria’s ongoing economic and fiscal reforms....

NNPC Reports ₦2.68tn Revenue — But Oil Output Falls to 1.25mbpd, Profit Drops

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NNPC revenue oil production paradox has intensified as the Nigerian National Petroleum Company reported ₦2.68 trillion in revenue in its latest monthly report, despite crude output falling to about 1.25 million barrels per day and profit declining. The contradiction highlights rising costs, operational inefficiencies, and structural weaknesses, raising urgent questions about sustainability in Nigeria’s oil-dependent economy....

Nigeria Power Crisis Deepens as Adelabu’s Two-Week Promise Fails, Grid Stuck at 3,000MW

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Nigeria power crisis has worsened after Power Minister Adebayo Adelabu’s two-week recovery promise failed to deliver results, with electricity generation still trapped between 3,000 and 4,000 megawatts. The failure highlights a deeper structural breakdown across generation, transmission, and distribution, intensifying economic hardship and exposing widening gaps between government assurances and sector realities nationwide....

Dangote Refinery Cuts Petrol Price to ₦1,200 After Global Oil Drop

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Dangote refinery petrol price cut has reduced pump prices to ₦1,200 following a dip in global crude oil markets. The adjustment signals a shift in Nigeria’s fuel pricing structure, as easing geopolitical tensions reshape supply expectations. The move carries direct implications for consumers, transport costs, and inflation pressure across the country’s fragile economic landscape....

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