Nigeria News Digest: August 28, 2025

Dangote Industries and other firms increased tax payments, contributing to a 288% surge in tax revenue, driven by higher cement sales and expanded operations across Nigeria.

International lenders, including the IMF and IFC, praised Nigeria’s economic progress under Tinubu, citing a stable credit outlook, reduced inflation, rising foreign reserves, and a significant boost in national revenue.

Nigeria’s new Tax Reform Acts aim to boost investment and equity, with reforms targeting a broader tax net to ensure fair contributions from high earners and corporations.

Nigeria spent N1.3tn on petrol in June, with partial figures showing Yobe and other states accounting for significant portions of expenditures.

Nigerian senator Dino Melaye faces a N509.6m tax evasion case after authorities assessed unpaid taxes from 2023 and 2024 following non-compliance with tax laws.

Nigeria’s role as Africa’s largest economy offers strategic opportunities to drive intra-African trade through industrial policies, energy transitions, and alignment with continental goals.