Economy
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Tax clarity, investor confidence depend on judiciary’s insight, says FIRS Boss
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji has praised the Nigerian judiciary for its “sound and consistent” tax rulings that have helped shape the nation’s fiscal landscape. Speaking at a capacity-building workshop for Justices of the Supreme Court, Court of Appeal, and Judges of the Federal High Court on new tax laws, the FIRS Chairman…
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Wale Edun presides over historic Afreximbank leadership handover in Cairo
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has presided over the investiture of Dr. George Elombi as the fourth President and Chairman of the Board of Directors of the African Export–Import Bank (Afreximbank) at a ceremony held in Cairo, Egypt. This according to statemenntt issued by Director, Information and Public Relations, federal ministry of…
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Dangote to expand refinery production capacity 1.4m bpd
The founder of Dangote Group, Aliko Dangote on Sunday disclosed that the Dangote Petroleum Refinery is expanding its production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd, making it the largest refinery in the world, surpassing India’s Jamnagar refinery. The billionaire industrialist announced the proposed expansion at a press conference. Dangote said the expansion will make the…
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Nigeria’s mining sector attracts $1.3bn from China, says Minister of Solid Minerals
The Minister of Solid Minerals Development, Dr. Dele Alake, has announced that Nigeria’s mining sector has attracted over $1.3 billion in investment from Chinese companies, highlighting the success of ongoing reforms aimed at improving transparency, profitability, and stability in the industry. Speaking at the 2025 China Mining Conference in Tianjin, with the theme “Connect and Collaborate, Co-Build and Co-Share,” Alake…
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FATF exit marks a major milestone in Nigeria’s financial system, says CBN
The Central Bank of Nigeria (CBN) said on Saturday said Nigeria’s removal from the Financial Action Task Force (FATF) grey list marks a major milestone in the country’s effort to rebuild global confidence in its financial system. The FATF, the intergovernmental body that sets international standards for combating money laundering and terrorist financing, announced that Nigeria has been taken off…
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Afreximbank to partner Ogun state in financing fabric processing zone
African Export and Import Bank (Afreximbank) has revealed to further partner with Ogun state government to drive fabric processing finance amid its objective of turning raw materials to finished goods. The president of the Afreximbank, George Elombi who disclosed this during his swearing-in ceremony on Saturday, vowed his tenure will bring an end to raw commodities or mineral exports from…
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BOA, IOM launch $200m fund to empower displaced Nigerians through agriculture
The Bank of Agriculture (BOA) and the International Organisation for Migration (IOM) have launched a $200 million agriculture and livelihood fund aimed at empowering internally displaced persons (IDPs) across Nigeria and fostering economic inclusion. In a statement released on Friday, the BOA said the initiative seeks to move beyond humanitarian aid by providing displaced Nigerians with sustainable means of livelihood.…
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Sharp practices floor Access Holdings as CBN imposes N442m sanctions in H1 2025
Access Bank, the banking subsidiary of Access Holdings Plc was faced with numerous sharp business practises in first half (H1) of 2025, leading to Central Bank of Nigeria (CBN) imposing a N442 million sanctions as against the N300m million imposed in first half of 2024. The group, however, in 2024 full financial year was sanctioned N1.21 billion by CBN and…
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Budget Office declares N20.78trn FG’s revenue inflow in 2024
The Budget Office of the Federation has disclosed that the Federal Government revenue inflow stood at N20.78 trillion in 2024, a 68.1 per cent increase compared to N12.48trillion realised in 2023. The latest report by the Budget Offiice revealed that the figure fell N4.89trillion or 18.9 per cent short of the government’s annual target of N25.87trillion, as contained in the…
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Uzoka-Anite emphasizes on Nigerians imbuing ideals of patriotism to drive inclusive growth
The Minister of State for Finance, Dr. Doris Uzoka-Anite has emphasized the importance of embracing the timeless ideals of patriotism, education, and public service to drive economic empowerment, inclusive growth, and opportunities for all Nigerians. This is according to statement issued by Director, Information and Public Relations, Federal Ministry of Finance, Mr. Mohammed Manga. The statement stated that Dr. Uzoka-Anite…
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