Report: Nigeria Earned N161tn in 15 Years as Tax Surge Reshapes Fiscal Landscape
Dependence on oil revenue wanes, non-oil sources account for over 70% funds Warns against debt crisis
Emmanuel Addeh in Abuja and Kayode Tokede in Lagos
Nigeria earned an estimated N161.1trillion in revenues from oil and non-oil sectors in the years
spanning 2010 to 2024, with new data showing that tax and non-oil income streams now dominate the
country’s fiscal structure. The report by Quartus Economics, which examined federation revenues
during the period, indicated that Nigeria has transitioned from a commodity-dependent system to
one where government income is Continued on page 38
Udoma & Belo-Osagie: Granting IOCs 100% Access to Export Earnings Will Spur Oil Investment... Page 38 Tuesday 7 April, 2026 Vol 31. No 11321. Price: N400
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Dangote Refinery Ships 17 Petrol Cargoes to African Countries as Global Supply Tightens
Oil edges up as US, Iran receive ceasefire framework Tehran rejects proposal as Trump’s deadline approaches
Emmanuel Addeh in Abuja
The Dangote refinery, Africa’s
largest, has increased export of petrol and urea to African countries hit by supply disruptions caused
by the Iran war, its owner, Aliko Dangote said yesterday. Dangote said the refinery, operat-
ing at its maximum capacity of 650,000 barrels a day, had helped cushion the effect of the crisis both
in Nigeria and across the continent, a Reuters report said. “What I can do is assure
Nigerians ... and most of West Continued on page 38
ADC: INEC Plotting to Stop Us Ahead of 2027 Elections
By deploying administrative landmines against us Says commission’s position contradicts 2026 electoral act Obi media warns against clandestine moves to block his candidacy Dele Momodu: APC miscalculated, didn’t think Atiku, Kwankwaso, others could work together ADC youths threaten civil action, to occupy INEC’s offices nationwide, demands Amupitan’s resignation
Chuks Okocha in Abuja
African Democratic Congress (ADC) has accused the Independent National Electoral Commission (INEC) of deploying deliberate administrative landmines to prevent it from fielding candidates in the coming general election. In a statement by its National Publicity Secretary, Mallam Bolaji Abdullahi, ADC said at the heart of the emerging plot was INEC’s stated position that it would no longer receive any correspondence from the party pending the determination of a matter before the Federal High Court. ADC stated, “On its face, this may appear procedural. In reality, it creates a direct and dangerous conflict with the clear timelines imposed by the Electoral Act (2026), which provides defined windows, Continued on page 38
EASTER COURTESY VISIT TO THE PRESIDENT...
L-R: Former Governor of Lagos State and former Minister of Works and Housing, Mr. Babatunde Fashola, SAN; President Bola Ahmed Tinubu; and former President of the Nigerian Bar Association (NBA), Chief Wole Olanipekun, during an Easter courtesy visit to the President in Lagos on Sunday