Echotitbits – Nigeria News

Tag: Nigeria economy

  • Revenue sharing formula review gains steam amid calls for deeper fiscal federalism

    Revenue sharing formula review gains steam amid calls for deeper fiscal federalism

    PunchNG (illustrative image)
    2025-08-24

    Writing in ThisDay, analysts argue Nigeria’s revenue sharing formula is due for a rethink, noting the structure continues to shape monthly allocations and fiscal behaviour across the three tiers of government.

    The debate ties into calls for deeper fiscal federalism so responsibilities and resources better align at subnational levels.

    Any review is likely to reopen negotiations around derivation, VAT sharing and constitutional constraints.

    PRNigeria: “RMAFC commenced a review of the revenue sharing formula…”

    The Punch (editorial): “for a new allocation formula…”

    Analysis/Echotitbits take: The hardest part is political bargaining over who gains and who loses. Watch for a formal RMAFC proposal, National Assembly timelines, and whether derivation/VAT sharing becomes the main flashpoint.

    Source: ThisDay — August 24, 2025 (https://www.thisdaylive.com/2025/08/24/issues-in-the-revenue-sharing-formula/)

  • Nigeria posts ₦6.69tr Q3 trade surplus as exports stay ahead of imports

    Nigeria posts ₦6.69tr Q3 trade surplus as exports stay ahead of imports

    2025-12-15 08:00:00

    According to The Punch, Nigeria recorded a ₦6.69 trillion trade surplus in Q3 2025, with exports of about ₦22.81tn outweighing imports of about ₦16.12tn, continuing a run of positive trade balances.

    Punch quotes analysts attributing the performance to FX-market reforms, liberalisation and currency adjustments that improved export competitiveness while making some imports more costly.

    The report notes crude oil remained the dominant export, while stakeholders called for policy consistency and deeper non-oil export expansion to sustain gains.

    Analysis/Echotitbits take: A sustained surplus can ease external financing pressure, but it matters what’s driving it—higher export value-add or simply weaker import demand. Watch non-oil export momentum, crude output stability, and how FX policy affects manufacturers’ input costs.

    Source: The Guardian Nigeria News — December 12, 2025

    Photo credit/source: The Guardian Nigeria News

    The Guardian Nigeria News https://guardian.ng/business-services/nigeria-records-trade-surplus-of-n6-9tr-in-q2-2024-nbs/ December 12, 2025

  • Dangote partners move to N739/litre petrol as price-cut campaign widens

    Dangote partners move to N739/litre petrol as price-cut campaign widens

    2025-12-15 08:00:00

    According to The Punch, partners of the Dangote Petroleum Refinery including MRS are set to begin retailing petrol around ₦739 per litre, following a reduction in the refinery’s ex-depot price and renewed pressure to reflect lower costs at the pump.

    The report says Aliko Dangote argued that some outlets keep prices elevated even after gantry cuts, and that the refinery will push supply and enforcement—starting with partner stations—to make the new pricing regime visible to consumers.

    Punch also reports Dangote raised concerns about the issuance of import licences and warned that continued large-scale imports could undercut local refining investments, especially as refineries scale output into 2026.

    Analysis/Echotitbits take: If the pump price resets stick, it will test how quickly pricing transmits from depot to retail and how regulators manage imports versus local supply. Watch for independent marketers’ adoption rate, regional pricing gaps, and any policy moves on import licences or crude allocation.

    Source: The Punch — December 15, 2025

    The Punch https://punchng.com/dangote-names-n739-as-new-petrol-pump-price/ December 15, 2025

  • ICAN Targets 600 Technicians for Export-Ready Skills

    ICAN says it will train and certify 600 technicians in partnership with NACCIMA and the Nigeria Association of Technicians in Engineering. The initiative aims to enhance employability and standardise technical competence for local and international markets.

    Organisers frame the programme as a practical contribution to workforce development and economic diversification.

    2025-12-10

    Punch Newspapers

    2025-12-10

  • Alake Unveils New Incentives to Court Global Mining Capital

    Solid Minerals Minister Dele Alake announced incentives aimed at attracting global mining investors as Nigeria pushes deeper non-oil diversification. The strategy is expected to focus on policy clarity, value-chain development and improved investor confidence.

    Industry observers see the move as part of a broader attempt to formalise operations and expand jobs in critical minerals.

    2025-12-10

    The Nation

    2025-12-10

  • CBN Overhauls Agric Credit Guarantee to Support Small Farmers

    The Central Bank of Nigeria announced a major revamp of the Agricultural Credit Guarantee Scheme Fund to expand credit access for smallholder farmers. Governor Olayemi Cardoso described the reset as a strategic move to strengthen food security and inclusive growth.

    The overhaul includes a reconstituted board and renewed policy direction aimed at improving risk management and last-mile lending impact.

    2025-12-10

    Vanguard

    2025-12-10

  • Naira Slides Further on the Street as Gap Widens With Official Window

    The naira weakened further in the parallel market while holding a different rate at the official NFEM window, widening the spread between both markets. The movement reflects ongoing demand-supply tension in the FX ecosystem.

    Analysts warn that persistent gaps can fuel speculative pricing and complicate planning for import-dependent sectors.

    2025-12-10

    Vanguard

    2025-12-10

  • NNPC Upstream Unit Hits Highest Daily Output Since 1989

    NNPC Exploration and Production Limited recorded 355,000 barrels per day on December 1, 2025, which it described as its highest daily output in 36 years. The company also reported a steady rise in average daily production since 2023.

    NNPC says improved asset management and operational discipline are driving the gains as Nigeria targets higher national output over the next few years.

    2025-12-10

    Punch Newspapers

    2025-12-10

  • NUPRC Discloses Releases to NNPCL

    The Nigerian Upstream Petroleum Regulatory Commission says it has released significant dollar and naira sums to NNPCL linked to sector obligations and upstream administration. The disclosure appears aimed at clarifying financial flows within the post-PIA governance framework.

    Stakeholders are expected to weigh the statement against wider remittance, audit and operational transparency expectations in the oil and gas sector.

    2025-12-09

    The Nation

    2025-12-09