BusinessDay reported Nov. 4 that Nigeria’s federal government earned N5.08 trillion in revenue in Q1 2026, 44.93% below its target. It said the rise in oil prices was insufficient to close the revenue gap.

Economy
BusinessDay said higher oil prices did not produce enough revenue for the federal government to meet its target.

BusinessDay reported Nov. 4 that Nigeria’s federal government earned N5.08 trillion in revenue in Q1 2026, 44.93% below its target. It said the rise in oil prices was insufficient to close the revenue gap.
FXStreet put USD/CAD at 1.3993 at 12:58 p.m. ET after an intraday low of 1.3950. Macklem said the Bank may need to raise rates further but would proceed carefully.
Daewoo says the construction contract is worth about 350 billion won ($261 million). The proposed line would lift Indorama’s installed annual urea capacity to about 5.6 million metric tons.
The report said state governments owe contractors substantial sums, while businesses broadly are facing liquidity pressure.