AfDB: Nigeria’s Revenue Base Weak Amid $2.3tn Infrastructure Development Need Flags low productivity as key national challenge
Emmanuel Addeh in Abuja
The African Development Bank
(AfDB) has identified Nigeria’s weak domestic revenue base and persistently low productivity as the
Urges Nigeria to rationalise tax exemptions, reduce leakages
country’s most pressing economic constraints, warning that unless both are addressed, meeting an
estimated $2.3 trillion infrastructure financing requirement by 2043 will remain an uphill task.
In its 2026 Country Focus Report on Nigeria, themed: ‘Mobilising Nigeria’s Development Financing
at Scale in a Fragmented World’ Continued on page 8
APC Chairman, Yilwatda,Defends FG’s Economic Reforms at Jos Colloquium, Says Policies Delivering Results... Page 26 Friday 7 August, 2026 Vol 31. No 11443. Price: N400
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Fake Agency: ICPC Absolves Gbajabiamila, Seeks Adeniyi Adeyemi’s Prosecution Says suspect also floated FIPA, one other fictitious organisation Identifies collaborators in SGF, HoSF, AGF, Budget, NITDA offices Dare: Tinubu to study report, consult AGF before taking action FRSC: How phantom agency listed Tinubu as board chair Deji Elumoye and Adedayo Akinwale in Abuja
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) yesterday absolved
the Chief of Staff to President Bola Tinubu, Femi Gbajabiamila of any blame in the controversial
Presidential Foreign Investment Promotion Council (PFIPC) saga. The anti-graft body revealed that
the purported Director General of the PFIPC, Prince Adeniyi Adeyemi, was never appointed by
the federal government and that Continued on page 8
In Deft Move, Tinubu Directs EFCC to Unfreeze Osun Account Calls Adeleke, expresses deep embarrassment over timing of action Atiku, ADC fault claim of anti-graft agencies’ independence Urge president to order ICPC to free El-Rufai Accord Party alleges plot to influence Osun poll Adeleke slams N2bn suit against EFCC
Story on page 8
TINUBU MEETS BOARD AND MANAGEMENT OF NIGERIAN EXCHANGE GROUP...
L-R: Chief Executive Officer of Chairman, Nigerian Exchange Group (NEG), Temi Popoola; Chairman NEG, Alhaji Umaru Kwairanga; President Bola Ahmed Tinubu; Minister of Finance and Coordinating Minister of Economy, Taiwo Oyedele; Minister of Information, Muhammed Idris; Governor of Central Bank of Nigeria, Olayemi Cardoso; and Chairman, Nigeria Revenue Service, Dr. Zacch Adedeji PHOTO: GODWIN OMOIGUI. during the president’s audience with board and management of Nigerian Exchange Group at the presidential Villa Abuja, yesterday