Category: #Finance
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NIGERIAN SENATE APPROVES PRESIDENT TINUBU’S N1.15 TRILLION DOMESTIC LOAN FOR 2025 BUDGET DEFICIT
The Nigerian Senate on Wednesday greenlit President Bola Tinubu’s request to borrow N1.15 trillion from the domestic debt market to finance the deficit in the 2025 budget. This approval came after the Senate Committee on Local and Foreign Debts, led by Vice Chairman Sen. Manu Haruna, presented a detailed report outlining the need for the…
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NIGERIA TAKES STRONG STEP WITH 15% TAX ON IMPORTED PETROL AND DIESEL TO BOOST LOCAL REFINING
Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has praised the Federal Government’s decision to impose a 15% import tax on petrol and diesel, calling it a move that will grow the economy, promote local production, and create jobs for youth. ECCIMA President Sir Odeiga Jideonwo highlighted the negative impact of excessive importation on…
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NIGERIA CUSTOMS SERVICE KADUNA COMMAND HITS RECORD ₦5.16 BILLION REVENUE IN OCTOBER 2025
The Nigeria Customs Service (NCS), Kaduna Area Command, has scored its highest-ever monthly revenue by generating ₦5.16 billion in October 2025—an impressive 96% above its target and 196% target performance. The command’s Public Relations Officer, CSC Ridwan Yusuf, announced this milestone reflecting a 61.89% year-on-year increase compared to the ₦24.06 billion collected from January to…
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NIGERIAN STOCK MARKET RECORDS 4TH CONSECUTIVE LOSS, INVESTORS LOSE N348 BILLION
The Nigerian equities market slumped for the fourth straight session on Thursday, resulting in a staggering loss of N348 billion for investors. Key stock selloffs including Legend Internet, Champion Breweries, and Tantalizer triggered a 0.36% dip in market capitalisation, which closed at N95.316 trillion compared to an opening of N95.664 trillion. The All-Share Index similarly…
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KATSINA STATE PROPOSES N156.3 BILLION FOR EDUCATION IN 2026 BUDGET
Katsina State Government has allocated N156.3 billion for the education sector in its 2026 budget proposal, representing the largest share at 17.14 percent of the total N897.8 billion budget. The announcement was made by Commissioner for Budget and Economic Planning, Alhaji Malik Anas. The education funding covers basic, secondary, and higher education and is part…
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US SUPREME COURT QUESTIONS TRUMP’S AUTHORITY ON SWEEPING TARIFFS IN HIGH-STAKES HEARING
The US Supreme Court justices, including conservatives, intensely questioned the Trump administration’s legal basis for imposing broad tariffs under the 1977 International Emergency Economic Powers Act (IEEPA). Over a two-hour hearing, Chief Justice John Roberts and others expressed skepticism about whether the president had the authority to bypass Congress on tariffs framed as national security…
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AFRICA LOSES $75 BILLION ANNUALLY TO BIASED CREDIT RATINGS—EXPERTS SOUND ALARM AT DAKAR CONFERENCE
Experts at a major two-day conference in Dakar, Senegal, have issued a stark warning that Africa is losing approximately $75 billion every year due to biased credit ratings imposed by foreign agencies. Organized by AfriCatalyst, SAIIA, UNDP, and AUDA-NEPAD, the event gathered top policymakers, economists, and financial experts focusing on how Africa can amplify its…
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MAN SUPPORTS 15% IMPORT TARIFF ON PETROL AND DIESEL TO BOOST LOCAL INDUSTRY AND ENERGY SECURITY
The Manufacturers Association of Nigeria (MAN) has expressed strong support for the recently approved 15% import tariff on petrol and diesel, viewing it as a patriotic policy aligned with the Nigeria-First agenda. MAN Director-General Segun Ajayi-Kadir said the tariff will strengthen local content, promote value addition, and boost refinery capacity. Ajayi-Kadir highlighted that the tariff…
