Topic Archive

#Nigerian Economy

Petrol Price Soars Above ₦1,000/Litre as Tinubu Approves 15% Import Tariff

Nigeria’s petrol prices have climbed above ₦1,000 per litre following President Tinubu’s approval of a 15% import tariff on fuel, sparking economic anxiety and renewed debate over market liberalisation and fiscal policy.

95News•10/31/2025

Article

FG Spends 35% of 2024 Budget on Debt Servicing, Records N13.51tr Fiscal Deficit — Budget Office Report

Nigeria’s Federal Government spent N12.36 trillion servicing debts in 2024 — 35.26% of the total national budget and 52.71% above its target — according to the Fourth Quarter 2024 Budget Implementation Report from the Budget Office of the Federation. The report also revealed a fiscal deficit of N13.51 trillion, exceeding projections by nearly 47%.

95News•10/22/2025