Barbara Bako, Abuja. The Federal Government has introduced a lower interest rate for taxpayers who fail to pay their taxes on time, replacing the previous framework with a new market-based formula that takes effect on October 1, 2026.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has called on the international community to scale up the availability of affordable capital to finance infrastructure and development across Africa. Efe Ovuakporie, Head information and Public Relations
Barbara Bako, Abuja. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has unveiled draft regulations aimed at preventing anti-competitive practices in the petroleum industry, as part of efforts to promote fair market access, boost investment, and improve
Barbara Bako, Abuja. The Central Bank of Nigeria (CBN) has reduced its benchmark interest rate by 350 basis points to 23 per cent, citing easing inflation, exchange rate stability and stronger external reserves as signs that the economy
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele and the Governor of the Central Bank of Nigeria, Olayemi Cardoso have signed a Memorandum of Understanding (MoU) to strengthen coordination between fiscal and monetary policies and promote
Barbara Bako, Abuja. The Federal Government has commenced work on the 2027 Finance Bill with the inauguration of a Technical Subcommittee on Fiscal Policy and Tax Reforms to review Nigeria’s new tax laws, address implementation challenges and strengthen
Barbara Bako, Abuja. Nigeria has returned to a major global bond benchmark after 11 years, with J.P. Morgan including selected Federal Government of Nigeria (FGN) bonds in its new Government Bond Index–Emerging Markets Edge (GBI-EM Edge). The inclusion
Barbara Bako, Abuja. The African Union Commission (AUC) and the African Tax Administration Forum (ATAF) are intensifying efforts to strengthen Africa’s domestic revenue systems as countries across the continent seek more sustainable ways to finance development. The two institutions
The Central Bank of Nigeria (CBN) has received the Nigerian Economic Society’s (NES) Distinguished Organisation Award in recognition of its institutional reforms and contributions to Nigeria’s macroeconomic stability and economic development. The bank in a statement disclosed that the
Barbara Bako, Abuja. The Federal Government’s Economic Management Team (EMT) has approved the establishment of an inter-agency committee to harmonise Nigeria’s macroeconomic assumptions for budgeting and economic planning, in a move aimed at improving policy coordination, strengthening fiscal
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