economic reform

Federal authorities have initiated a probe into high collection costs and revenue-at-source deductions as the government intensifies efforts to address systemic revenue leaks undermining fiscal stability.

President Bola Tinubu has signed an executive order mandating direct payment of oil and gas revenues into the Federation Account, a move the Revenue Mobilisation Allocation and Fiscal Commission says will curb leakages and boost government coffers.

Nigeria unveiled its Industrial Policy 2025 while confronting ₦8 trillion in annual revenue losses from concessions, as the government pursues trade expansion and energy infrastructure development to stabilize the economy.