A Return Framed by Politics, Defined by Economics President Bola Tinubu’s return to Lagos at 1.15 a.m. on Friday, March 20, after his UK state visit was politically choreographed around Eid-el-Fitr, but economically the bigger story travelled back with him in paperwork, signatures and financing guarantees. Before leaving London, Tinubu witnessed the sealing of a Read More…
Economy
Not Our War!
Africa does not have a dog in the fight going on in the Middle East. “Operation Epic Fury” is a war between a tag team of a lion and a polar bear on the one hand and a honey badger and its army of unseen Tasmanian devils on the other. What we have learnt so Read More…
The Cost of Nigeria — Part 1
Nigeria’s 63% Poverty Surge: Reform, Inflation and the New Hardship Economy As poverty in Nigeria climbs toward 63%, affecting about 141 million people, economists debate whether President Bola Tinubu’s reforms are the cause of the crisis—or the painful medicine needed to stabilise Africa’s largest economy. A Nation Where Poverty Now Touches Most Households Nigeria entered Read More…
How the US–Israel–Iran War Could Drive Up Transport and Food Prices in Lagos
The economic shock has not landed yet — but the signals are flashing The war between the United States, Israel and Iran may be unfolding thousands of kilometres away, but Lagos — as Nigeria’s commercial nerve centre — is watching closely. For now, transport fares have not surged again, food prices have not spiked dramatically, Read More…
Tinubu’s fiscal grenade: Federation Account to swell by ₦15tn as NNPC ‘Management Fees’ axed
In what is being described as the most aggressive fiscal move of his presidency, President Bola Tinubu has signed Executive Order No. 9 of 2026, a directive that effectively dismantles the “middleman” role of the Nigerian National Petroleum Company Limited (NNPC) in revenue collection. Signed on February 13, 2026, the order mandates that all oil Read More…
Cooperatives: The Missing Link in Lagos’ Urban Development Agenda
By Nkanu Egbe Lagos, Nigeria’s economic nerve centre, continues to chase ambitious development targets—from housing and transport to job creation and food security. Yet, one of the most powerful tools for inclusive economic participation lies neglected: cooperatives. In a city where a significant majority of the economy operates informally, the Lagos State Government has rightly Read More…
Tinubu proposes ₦47.9 trillion expenditure in new MTEF
The Nigerian government has unveiled its Medium Term Expenditure Framework (MTEF) for 2025-2027, proposing a total expenditure of ₦47.9 trillion for the 2025 fiscal year. This ambitious plan aims to drive economic growth and development across various sectors. The MTEF includes several critical assumptions and projections: The MTEF is a crucial document that outlines the government’s fiscal Read More…
Former Airtel Africa boss appointed new chairman of Nigeria Sovereign Investment Authority
Mr. Segun Ogunsanya, the former CEO of Airtel Africa, has been appointed as the new Chairman of the Nigeria Sovereign Investment Authority (NSIA). This significant move, aimed at bolstering the nation’s economic stability, was officially announced by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, at the Ministry of Read More…
Lagos’ economic success shines at global forum
Governor Babajide Sanwo-Olu highlighted Lagos State’s transformative economic journey and its pivotal role in driving Africa’s growth narrative during the 3rd AfriCaribbean Trade and Investment Forum in Nassau, Bahamas, on Wednesday. Addressing a diverse audience from Africa and the Caribbean, Sanwo-Olu underscored Lagos’ remarkable economic achievements, attributing them to robust internal revenue generation and strategic Read More…
World Bank approves $2.25 billion loan to bolster Nigerian economy
The World Bank has approved a $2.25 billion loan for Nigeria aimed at stabilising the economy following recent reforms and enhancing support for the nation’s poor, the financial institution announced in a statement on Thursday. In April, Finance Minister Wale Edun revealed Nigeria’s intent to secure up to $2.25 billion in loans from the World Read More…