Nigeria’s latest state finance figures are exposing a growing fiscal divide between Nigerian states. In 2025, the 36 states and the Federal Capital Territory generated about ₦4.15 trillion in internally generated revenue, but Lagos State generated 45% of subnational IGR, highlighting how heavily Nigeria’s domestic revenue base depends on one state. At the same time,…
Nigeria’s monthly federal allocations have entered territory that would have seemed almost impossible a few years ago. Federation Account Allocation Committee, FAAC, distributions are now averaging more than ₦2 trillion per month, with the highest monthly distribution reaching about ₦2.8 trillion. The increase has been driven largely by changes in fuel subsidy policy, foreign exchange…
Nigeria is once again facing the uncomfortable side of its dependence on crude oil. Global oil prices fell sharply after the United States signalled a move back towards diplomacy with Iran, with Brent crude dropping about 7% to settle at $83.77 a barrel on Monday. Nigerian crude was dragged lower after recently trading above $85,…
MTN Nigeria has reported a strong financial performance for the first half of 2026, posting ₦2.993 trillion in revenue and a 70.6% increase in profit after tax, as demand for data and digital services continued to drive growth despite Nigeria’s challenging economic environment. According to the company’s unaudited results for the six months ended 30…
