Wike highlighted various investment opportunities in the FCT, including sectors like real estate, housing, entertainment, tourism, agriculture, solid minerals, and waste management. He described the FCT as a business-friendly capital city.

The meeting with EU heads of mission was chaired by Ambassador Gautier Mignot. During this meeting, Wike stressed the government’s commitment to urban and rural development. He noted ongoing efforts to improve security infrastructure and enhance education and health services.

Wike remarked on recent electoral reforms, stating that the amended electoral law includes provisions for electronic transmission of results. He described the relationship between the executive and legislature as “partners-in-progress” in policymaking.

Key facts about Wike’s initiatives:

• The administration has constructed 12 new fully equipped divisional police headquarters across six area councils.
• The Renewed Hope Agenda framework aims for economic reforms and fiscal restructuring.
• Wike acknowledged ongoing security challenges linked to instability in the Sahel region.

Nyesom Wike expressed gratitude to the European Union delegation for their continued partnership in advancing shared values of development. He stated, “In a country like Nigeria, where democracy is evolving, opposition should not be seen as an avenue to cause or promote crises.” This reflects his view on constructive political engagement.

The EU is recognized as Nigeria’s foremost trade and investment partner. Observers note that strengthening ties could lead to significant improvements in urban development and overall economic stability in Nigeria.

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On April 14, 2026, Dangote announced plans to offer shares in his oil-refining company on multiple African stock exchanges, a move that would be unprecedented for the continent. This decision comes as part of a broader strategy to expand the refinery’s capacity to 1.4 million barrels per day over the next three years, supported by a $4 billion syndicated facility underwritten by the African Export-Import Bank.

The immediate effects of this announcement are profound. Dangote has appointed Stanbic IBTC Capital Ltd., Vetiva Advisory Services Ltd., and FirstCap Ltd. as advisers for the IPO, which is expected to launch within the next five months. Investors will have the option to receive dividends in either naira or dollars, broadening the appeal of the investment.

Dangote aims to list a 10 percent stake in his refinery on the Nigerian Exchange this year, with a total of 5 percent available in the upcoming IPO. This initiative is designed to deepen investor participation across multiple markets in Africa, allowing more individuals to invest in the refinery.

In a statement, Dangote expressed his intention to retain no more than 65 to 70 percent of the refinery shares, indicating a commitment to broadening ownership. “We don’t want to keep more than 65 to 70 percent. Shares will be offered incrementally, depending on investor appetite and market depth,” he stated.

Frank Mwiti, an expert in capital markets, noted, “The plan is to structure a pan-African IPO,” highlighting the significance of this initiative for regional investment dynamics. This approach could potentially transform the investment landscape in Africa, providing new opportunities for local and international investors alike.

Furthermore, Dangote emphasized the importance of inclusivity in this venture, stating, “At the moment, our main interest is to list on the exchange, so that every living Nigerian can own part of the refinery.” This sentiment reflects a broader trend towards democratizing access to investment opportunities in Africa.

As the IPO approaches, the anticipation builds around how this share offer will reshape the market and what it means for the future of the Dangote Refinery and its stakeholders. Details remain unconfirmed regarding the exact timeline and structure of the share offering, but the implications are already being felt across the continent.

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In addition to these reductions, the effective rate for crude palm oil imports has been set at 28.75%. These changes are part of a broader strategy to align with the ECOWAS Common External Tariff framework, aiming to enhance trade compliance and protect local industries. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, emphasized the importance of these measures, stating, “These Fiscal Policy Measures, which supersede the 2023 Fiscal Policy Measures, shall be published in the Official Federal Government Gazette.”

The government has also introduced new excise duties on non-alcoholic and alcoholic beverages, cigarettes, and tobacco products, which will take effect from July 1, 2026. Furthermore, a green tax surcharge is set to be implemented on the same date, indicating a shift towards more environmentally conscious fiscal policies.

For importers who initiated transactions before April 1, 2026, a 90-day grace period has been granted. Edun noted, “A grace period of ninety days commencing from the date of this circular is hereby granted to all importers, manufacturers, and service providers.” This allowance is expected to ease the transition into the new duty structure.

The policy also includes an Import Adjustment Tax affecting 192 tariff lines and an import prohibition list covering 17 items from non-ECOWAS countries. Import Adjustment Taxes are set to be gradually reduced annually until full elimination by 2036, starting from January 2027. Edun remarked, “However, with effect from January 2027, all Import Adjustment Taxes, except for products on the African Continental Free Trade Area 3 per cent list, shall be gradually reduced on an annual basis until full elimination to zero per cent by 2036, in line with Nigeria’s commitments.”

Additionally, waste polyethylene terephthalate has been added to the export prohibition list, further indicating the government’s intent to regulate imports and exports more strictly. These measures are expected to drive long-term economic growth and enhance Nigeria’s position within the regional trade framework.

As the new policy replaces the 2023 fiscal guidelines, observers are keenly watching how these changes will impact local industries and the overall economy in Nigeria. Details remain unconfirmed regarding the specific outcomes of these measures, but the government anticipates that they will bolster trade compliance and support domestic production.

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President Bola Tinubu has approved a N3.3 trillion payment plan aimed at settling outstanding debts in Nigeria’s electricity sector, a move that is expected to significantly enhance the country’s power generation capabilities. The debts, which accumulated over a decade from February 2015 to March 2025, have posed substantial challenges to the operational efficiency of power generation companies.

Implementation of this plan has already commenced, with 15 power generation companies signing settlement agreements valued at ₦2.3 trillion. The federal government has successfully raised ₦501 billion to fund these payments, of which ₦223 billion has already been disbursed. This financial intervention is seen as a crucial step in restoring liquidity across the power value chain.

Olu Arowolo-Verheijen, a key figure in the initiative, emphasized the broader implications of the program, stating, “This programme is not just about settling legacy debts. It is about restoring confidence across the power sector — ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably.” This sentiment underscores the government’s commitment to not only addressing past debts but also ensuring the sustainability of power supply in Nigeria.

The initiative is also designed to include improved metering and service-based tariffs that are linked to the quality of electricity supply. This approach aims to provide a more reliable power supply to industries, businesses, and small enterprises, thereby supporting economic growth and reducing the operational costs that have plagued many businesses due to unreliable power.

Despite the positive outlook, the Nigeria Labour Congress has voiced criticism regarding the demands from power generation companies for financial intervention, highlighting concerns about the sustainability of such measures. The power supply challenge has significantly increased operating costs for businesses, many of which have been forced to pass the additional burden on to consumers through higher prices of goods and services.

Looking ahead, the next phase of the programme, referred to as Series II, is set to commence this quarter. This phase is expected to build upon the initial successes of the debt settlement plan and further enhance the operational capacity of the electricity sector.

As the government moves forward with these initiatives, observers remain hopeful that the measures will lead to a more reliable power supply for Nigerians. However, details remain unconfirmed regarding the specific timelines and additional funding sources that may be required to sustain these efforts in the long term.

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Before the recent inauguration of the Gateway International Airport, expectations for Ogun State’s economy were modest, with limited projections for growth in internally generated revenue (IGR). However, Tunde Lemo, a former Deputy Governor of the Central Bank of Nigeria and a governorship aspirant, has now made bold predictions regarding the state’s financial future.

Following the airport’s inauguration on April 6, 2026, Lemo anticipates a significant rise in Ogun’s IGR. He stated that the airport is expected to facilitate the export of agricultural products, which could lead to a substantial increase in the state’s Gross Domestic Product (GDP). Lemo believes that if the project is successfully implemented, Ogun State could rank among the top three states in Nigeria for IGR within the next five years.

The direct effects of this development are expected to be profound. The Gateway International Airport is poised to enhance logistics, facilitate trade, and accelerate industrial development in Ogun State. Lemo emphasized the airport’s role as a transformative economic asset, not only for Ogun but for Nigeria as a whole.

During the inauguration, Lemo mobilized supporters to welcome President Bola Ahmed Tinubu, highlighting the collaborative effort behind this significant infrastructure project. He commended Governor Dapo Abiodun for his commitment to legacy infrastructure, reinforcing the importance of such projects in driving economic progress.

Lemo expressed optimism about the long-term impact of President Tinubu’s economic reforms, stating, “Mr. President’s reform agenda requires courage and consistency. I remain fully supportive of efforts aimed at repositioning Nigeria for sustainable growth and prosperity.” He believes that the airport will create jobs and boost commerce in Ogun State, further solidifying its economic potential.

Experts agree that the airport will strengthen Nigeria’s export capacity, particularly in agricultural produce, which is crucial for boosting the economy and increasing foreign earnings. Lemo remarked, “This is a remarkable achievement. It will help uplift exporting business which is highly needed to boost our economy and foreign earnings.”

As the state prepares for the upcoming 2027 governorship elections, the successful implementation of the airport project could play a pivotal role in shaping the political landscape. Lemo’s predictions and the airport’s potential impact on Ogun’s economy will likely be key topics of discussion among stakeholders.

Lemo concluded by thanking the people of Ogun State for their peaceful conduct during the President’s visit, emphasizing the importance of community support in achieving economic goals. The future of Ogun’s economy appears to be on the brink of transformation, with the Gateway International Airport at its center.

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In March 2024, the Central Bank of Nigeria (CBN) initiated a significant recapitalisation programme aimed at strengthening the financial sector. This move was prompted by the need to enhance the stability and resilience of Nigerian banks in the face of both domestic and global economic challenges. The programme was designed to ensure that banks could meet revised minimum capital requirements and support economic growth effectively.

Over the course of 24 months, Nigerian banks raised a total of N4.65 trillion in new capital, with 72.55% sourced from local investors and 27.45% from international markets. This strong participation from both domestic and international investors reflects a sustained confidence in the Nigerian banking sector. By the end of the programme on March 31, 2026, 33 of the 37 banks in Nigeria had successfully met the revised minimum capital requirements.

The recapitalisation programme established new minimum Capital Adequacy Ratio (CAR) thresholds of 10% for regional and national banks and 15% for banks with international authorisation. These measures were crucial in improving asset quality and reinforcing balance-sheet transparency across the banking sector. As a result, all banks remained fully operational throughout the process, ensuring continued access to banking services for customers.

Olayemi Cardoso, the CBN Governor, stated, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.” This sentiment was echoed by other financial experts who noted the successful completion of the programme as a significant improvement over past consolidation episodes.

Dr. Muda Yusuf remarked, “This marks a significant improvement over past consolidation episodes and reflects stronger regulatory capacity, improved market discipline and greater resilience within the banking system.” The successful recapitalisation has not only fortified the banks’ capital base but also positioned them better to support lending and mobilise savings, which are essential for economic development.

As the banking sector moves forward, the CBN has set a deadline of June 10, 2026, for the submission of implementation plans for new Anti-Money Laundering (AML) standards. This initiative is expected to further enhance the integrity and transparency of the financial system, ensuring that it remains robust against illicit activities.

Currently, the Nigerian banking sector stands on a more solid foundation, equipped to face future challenges while continuing to provide essential services to individuals and businesses. The recapitalisation programme has proven to be a pivotal step in reinforcing the financial system’s stability and resilience, ultimately contributing to the broader economic growth of Nigeria.

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Guyana has recently made headlines for its innovative approach to environmental sustainability and economic growth. The country has successfully monetized the carbon storage capacity of its extensive tropical forests, which cover 85 percent of its land area. This development allows Guyana to sell forest carbon credits on international markets, marking it as the first nation to issue jurisdictional-scale carbon credits.

The revenue generated from these carbon credit transactions is being reinvested into vital areas such as climate adaptation, forest conservation, and sustainable development initiatives. This strategic move not only helps combat climate change but also enhances the country’s economic stability.

In addition to its achievements in carbon markets, Guyana’s oil production has seen a significant increase. In February 2023, the country produced an average of 918,000 barrels of oil per day, a slight rise from the 915,000 barrels produced in January 2023. This upward trend in oil production is noteworthy, especially considering that Guyana’s average oil production in 2025 was projected to be 716,000 barrels per day.

The U.S. Air Force and Guyanese medical personnel recently completed a two-week mission known as the Lesser Antilles Medical Assistance Team (LAMAT) on March 27, 2026. This mission included nearly 3,000 patient encounters across 26 specialties, showcasing a commitment to improving healthcare access in the region. Additionally, the mission repaired over 130 critical medical devices, providing expertise valued at nearly $150,000.

Dr. Mohamed Irfan Ali, the President of Guyana, emphasized the importance of health in national security, stating, “A nation cannot be truly secure if its people are unwell, underserved, or uncertain about their access to care.” This statement underscores the government’s focus on enhancing healthcare services alongside economic growth.

Brig. Gen. (Dr.) Leigh Swanson highlighted the collaborative nature of the LAMAT mission, stating, “LAMAT is a collaboration designed to build the partnerships, readiness and interoperability that enable us to respond effectively to challenges together as we work to build a stronger, safer and more prosperous Western Hemisphere.” This reflects the broader regional cooperation aimed at addressing health and security challenges.

Guyana’s journey in leveraging carbon markets serves as an example for other countries with vast natural resources. As the nation continues to develop its oil sector while prioritizing environmental sustainability, it sets a precedent for balancing economic growth with ecological responsibility.

As these developments unfold, the international community is closely watching Guyana’s progress. The potential for further investment in both the carbon market and oil production could significantly impact the country’s economy and its role in global environmental efforts.

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In a significant move to reform tax policy, the African Tax Administration Forum (ATAF) has released a Guide to Implementing an Effective High-Net-Worth Individuals (HNWI) Taxation Regime in Africa. This initiative comes at a time when only about 5% of Africa’s employed adult population pays Personal Income Tax (PIT), indicating a substantial gap in tax compliance and revenue generation. The guide aims to assist African nations in broadening their tax base, improving equity within tax systems, and mobilizing domestic resources necessary for development priorities, as emphasized by Ms. Mary Baine.

Prior to this development, many African countries relied heavily on a narrow tax base, with more than 90% of PIT revenues collected from individuals in formal employment. This reliance on a limited segment of the workforce has posed challenges for fiscal sustainability and economic growth. The upcoming Fifth Session of the Sub-Committee on Tax and Illicit Financial Flows (IFFs), scheduled from March 31 to April 2, 2026, is expected to further address these issues and promote fiscal reforms as strategic levers for financing the African Union’s Agenda 2063.

In contrast, Australia is witnessing a different tax landscape as the government plans to halve petrol and diesel taxes from April 1 to June 30, 2026. This decision comes in response to rising fuel prices, with average diesel and petrol prices in the country’s five largest cities increasing by 10% and 8%, respectively, in the week leading up to March 25, 2026. The fuel excise cut is projected to reduce the cost of petrol by 26.3 Australian cents ($0.18) per litre, translating to savings of approximately 19 Australian dollars for motorists filling a 65-litre tank.

The Australian government’s tax cut is aimed at alleviating cost pressures on consumers, as articulated by Prime Minister Anthony Albanese, who acknowledged the real impact of global events on local economies. This contrasts sharply with the African context, where the focus is on enhancing tax compliance among high-net-worth individuals to increase government revenues. While Australia seeks to provide immediate relief to its citizens through tax cuts, African nations are striving to implement more comprehensive tax reforms to ensure long-term fiscal stability.

Experts suggest that effective taxation of high-net-worth individuals can significantly assist African countries in broadening their tax base and improving equity within their tax systems. The ATAF’s guide is a step towards addressing the challenges of tax compliance and revenue generation in a region where a significant portion of the population remains outside the tax net. This approach is seen as crucial for mobilizing the domestic resources needed to finance development priorities across the continent.

As Australia grapples with rising fuel prices and implements tax cuts to ease the burden on consumers, the situation in Africa highlights a pressing need for structural reforms in tax policy. The disparities between these two regions underscore the different economic contexts and challenges they face. While Australia’s approach is reactive, aiming to mitigate immediate economic pressures, Africa’s focus is on proactive measures to enhance tax compliance and broaden the tax base.

In summary, the contrasting tax developments in Africa and Australia illustrate the varied approaches to taxation in response to different economic pressures. While Australia seeks to provide short-term relief through tax cuts, African nations are working towards long-term reforms to improve tax compliance and revenue generation. These developments will be crucial in shaping the economic landscapes of both regions in the coming years.

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“The sustained convergence is a result of the CBN’s consistent supply to Bureau De Change (BDC) operators, which has decentralised foreign exchange access and reduced the urgency for high-premium transactions in the informal sector,” stated an anonymous market analyst.

On March 10, 2026, the Nigerian naira recorded significant depreciation against the US dollar at the official foreign exchange market, dipping to N1,405.62 per dollar from N1,393.26 just four days earlier. This represents a drop of N12.36 against the dollar.

At the black market, the naira weakened further, trading at N1,420 per dollar. This decline comes amid a backdrop of two consecutive weeks of depreciation, raising concerns among investors and economic analysts.

The Naira had opened at N1,398.24 per dollar on the same day, briefly appreciating to N1,396.24 by mid-morning before the decline set in.

Nigeria’s external reserves stood at $49.94 billion as of March 6, 2026, indicating a slight increase as the country grapples with its economic challenges. The country requires approximately $100 billion annually to bridge its infrastructure deficit, a situation that has been exacerbated by the recent currency fluctuations.

Peter Ashade, a representative from the United Capital Infrastructure Fund, emphasized the importance of naira-denominated capital for Nigeria’s infrastructure development, stating, “We believe long-term, naira-denominated capital is essential for Nigeria’s infrastructure development, and UCIF is our Group’s response to bridging this gap.”

He further noted, “The fund provides a vehicle for mobilising sustainable funding for key projects, ensuring predictable returns for investors while supporting the country’s economic growth.” This highlights the ongoing efforts to stabilize the economy amidst currency challenges.

As the market enters what some analysts describe as a stabilisation phase, there is cautious optimism regarding long-term capital inflows. The recent reports indicate that headline inflation has fallen to 15.10%, suggesting potential for economic recovery.

Details remain unconfirmed regarding the long-term impact of these currency fluctuations, but the situation remains a focal point for investors and policymakers alike as they navigate the complexities of Nigeria’s economic landscape.

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Spain’s government has announced a significant regularisation scheme aimed at legalising the status of at least 500,000 migrants. This initiative is set to open applications from the beginning of April until the end of June, providing a pathway for many who have contributed to the Spanish economy.

Eligibility and Economic Context

To qualify for this regularisation, migrants must demonstrate that they have spent at least five months in Spain and must not have a criminal record. Currently, foreign workers account for 14.1% of Spain’s 22 million registered workers, highlighting their integral role in the workforce. Since 2022, foreign workers have driven half of Spain’s economic growth, contributing significantly to the nation’s recovery.

Historical Precedents

This is not the first time Spain has implemented such measures. The People’s Party regularised over 500,000 migrants between 2000 and 2001, while a Socialist administration legalised another 577,000 migrants in 2005. These historical precedents indicate a pattern of addressing migration through regularisation in response to economic needs.

Support and Concerns

The regularisation measure has garnered support from various sectors, including the CEOE, Spain’s main employers’ association. Diana, a migrant worker, expressed optimism, stating, “It’s going to help us in every possible way.” Meanwhile, Francisco José García Navarrete emphasized the necessity of immigrant workers, saying, “If we didn’t have immigrant workers it would be a problem for us.” However, not all responses have been positive.

Political Opposition

Political figures like Alberto Núñez Feijóo have criticized the scheme, arguing that “mass regularisation is the confirmation of the lack of an immigration policy.” Santiago Abascal raised concerns about potential consequences, warning that the legalisation of these migrants could lead to an influx of others, stating, “These half million legalised migrants will cause millions more to come, who will aggravate the collapse of healthcare, housing and our security.”

Future Implications

Looking ahead, a 2024 report estimates that Spain will need about 25 million migrants over the next three decades to sustain its economy and social security system. This underscores the importance of migration in Spain’s long-term economic strategy, particularly as the country currently enjoys an unemployment rate at an 18-year low.

As Spain prepares to implement this regularisation scheme, observers are keenly watching the outcomes and implications for both migrants and the broader economy. The European Commission has also issued a warning that migrants granted residency in Spain must not use the permit to settle unlawfully in other EU states. Details remain unconfirmed.

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