…appreciation to close to 12%.Key drivers behind the currency's recovery include higher oil revenues, growing remittance inflows, and increased foreign investor interest. These factors have also helped lift Nigeria's external reserves to $53.9 billion, their highest point in 18 years. The Central Bank of Nigeria (CBN) n…

…reserves had risen to about $52.7 billion by August 2026, while consolidated non-oil revenue grew from roughly ₦13.63 trillion in 2023 to ₦16.4 trillion in the first two quarters of 2026. The party chair added that the merchandise trade position improved from a surplus of about ₦44.8 billion for all of 2023 to approxim…

…the unthinkable. Hitherto, the emphasis had been on getting a bigger slice of the oil revenue… But, Governor Uduaghan has gone far ahead of the rest of us by asking us to start the process of investing in those areas that are more sustainable for our future growth and development. I could not agree more with Dr Uduagha…

…increase to Nigeria’s current production and could significantly alter the country’s oil revenue outlook if the projects proceed as planned. Amadasu said the executive order would encourage international oil companies and other investors to move faster in taking Final Investment Decisions on the approved projects. He e…

…payments represented a significant drain on public finances. Other deductions from crude oil revenue included ₦16.20 billion for crude and petroleum product losses, ₦22.05 billion for pipeline repairs, and ₦6.75 billion for strategic stock holding. He also raised concerns about the calculation of the 13 per cent deriva…

…into long-term prosperity through prudent investment rather than dependence on crude oil revenue. Speaking at the Delta State Economic and Investment Summit in Asaba, Lumumba said: “Your Excellency, the Vice President, Nigeria is the largest economy in Sub-Saharan Africa. I look forward to the day when an investor from…

…policies he described as punitive. Atiku also questioned what he termed an unaccounted oil revenue windfall and warned that the country’s economy was drifting. Responding, Onanuga accused the presidential candidate of the African Democratic Congress of relying on outdated figures and ignoring recent economic developmen…

…to reports that higher international crude oil prices had generated an estimated N7.98tn oil revenue windfall for the Federal Government, arguing that increased earnings should ordinarily have reduced the country’s dependence on borrowing. “A government earning windfalls while borrowing recklessly is not suffering from…

…Company Limited (NNPCL) for its failure to clarify and account for ₦211 trillion in oil revenue recorded in its 2023 audited financial statements under the categories of “Sundry Receivables” and “Accrued Expenses.” According to reports, NNPCL listed over ₦211 […] The post SERAP asks Court to compel NNPCL to explain N21…

…in a statement carried by its official website. “This covers more than 60 percent of the oil revenues forecast in the year’s budget in the midst of the crisis,” it added. In late June, however, Iran’s parliament speaker and chief negotiator Mohammad Bagher Ghalibaf had said that Iran was unable to export any oil during…

…of higher export earnings, stronger foreign exchange inflows and improved government revenues if current price levels are sustained. Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that Nigeria’s average daily crude oil and condensate production rose by 2.3 per cent to 1.74 million…

…duty exemptions on the country’s revenue profile amid growing pressure to expand non-oil revenue.

…exports, is laying the foundation for a resilient economy less dependent on crude oil revenues. The President and Chairman of Afreximbank, Dr Elombi, said he and his team were at the State House to thank the President for his support, which led to his election as the President of the Bank, as well as to brief him on th…

…billion, attributed to fiscal reforms, enhanced diaspora remittances, and improved oil revenue performance. “Ohanaeze Ndigbo Worldwide notes that such indicators, if sustained, may strengthen macroeconomic stability, support currency performance, and enhance investor confidence. “Ohanaeze recognizes relative improvemen…

…statutory allocation of N7.48 billion, Value Added Tax (VAT) of N6.33 billion and non-oil revenue of N1.24 billion. For May, the state recorded a gross FAAC inflow of N52.81 billion, comprising N34.41 billion from derivation, N9.9 billion from VAT, N6.9 billion from statutory allocation and N1.6 billion from non-oil re…

…and some documented outcomes, but Nigeria's food import bill and its broader oil revenue dependence remained structural features of the economy when he left office in 2023. In 2023, all three major candidates included agricultural development and economic diversification in their manifestos. Tinubu, in office, has poin…