17.06.2026

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Economy

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....

Tax Laws Controversy: Reps Spokesman Rejects Ndume’s Falsification Claims

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Nigeria’s tax laws controversy intensified after the House of Representatives rejected claims that newly enacted tax reforms were falsified. The rebuttal followed allegations by Senator Ali Ndume, reopening questions around legislative transparency, internal review processes and how disputes over major fiscal reforms are resolved within Nigeria’s lawmaking system....

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....

Anambra, Traders Agree on Phased Remodelling of Onitsha Main Market to Ease Disruption

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The Anambra State Government and traders at Onitsha Main Market have reached an agreement on a phased remodelling plan aimed at upgrading market infrastructure while minimising disruption to business activities. The approach follows weeks of negotiation and reflects the state’s effort to balance urban renewal goals with the economic realities faced by traders....

Electoral Act Delay and the 2027 Question: Why Time Is Becoming the Real Opponent

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With barely a year to Nigeria’s 2027 general election, delays in passing the amended Electoral Act are triggering growing concern among civil society groups, analysts, and election managers. While the House has acted, the Senate’s hesitation is tightening timelines for reform, raising questions about preparedness, credibility, and whether legal certainty can still arrive in time....

₦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....

FG Begins ₦4tn Power Sector Debt Settlement as Five GenCos Sign Agreements

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The Federal Government has launched a ₦4 trillion power sector debt settlement programme, with five electricity generation companies signing agreements under a bond-backed framework. Officials say the move is aimed at clearing long-standing arrears, restoring liquidity across the market and unlocking fresh investment in Nigeria’s fragile electricity value chain....

NULGE FCT Joins JUAC, Begins Indefinite Strike

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The Nigeria Union of Local Government Employees in the Federal Capital Territory has joined the Joint Union Action Committee in an indefinite strike, escalating labour unrest within the FCT. The unions say the action follows unresolved disputes over workers’ welfare, outstanding entitlements and compliance with agreements, raising concerns over service delivery across local government councils....

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