Economy
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Tinubu welcomes Nigeria’s removal from FATF Grey List
—Says it’s a vote of confidence in reforms By Kunle Sanni – President Bola Tinubu has welcomed the removal of Nigeria from the Financial Action Task Force (FATF) grey list, describing the development as a major milestone in the country’s efforts to strengthen financial transparency, anti-corruption enforcement, and international credibility. The FATF, the world’s foremost body for setting standards to…
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Nigeria’s fiscal deficit increases to N13.5trn in 2024, says Budget Office
Budget Office of the Federation has disclosed that Nigeria’s fiscal deficit rose sharply to N13.51 trillion in 2024, exceeding the government’s target and pushing the deficit-to- Gross Domestic Product (GDP) ratio above the legal threshold set by the Fiscal Responsibility Act (FRA) 2007. The latest budget implementation report released by the Budget Office of the Federation. The report revealed that…
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Poor resource management behind Nigeria’s poverty woes — IMPI
The Independent Media and Policy Initiative (IMPI) has attributed Nigeria’s persistent poverty levels to decades of poor management of the nation’s vast resources and the implementation of inappropriate economic policies. In a policy statement signed by its Chairman, Dr. Omoniyi Akinsiju, the think tank said Nigeria’s poverty crisis was “a self-inflicted economic malady” worsened by the mismanagement of revenues earned…
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Smart Residences redeems N2.5billion Commercial Paper, strengthens position as Nigeria’s hospitality powerhouse
Smart Residences Limited (SRL) has fully redeemed its N2.5 billion Series II Commercial Paper, reinforcing its reputation for financial discipline, transparency, and investor confidence in Nigeria’s hospitality and real estate sectors. Strong investor participation saw the issuance fully subscribed, reflecting confidence in SRL’s business fundamentals, growth strategy, and consistent delivery on commitments. Through its Gidanka brand, SRL continues expanding its…
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NEC endorses roadmap to build $1 trillion Nigerian economy by 2030
By Kunle Sanni – The National Economic Council (NEC) has approved a comprehensive roadmap aimed at transforming Nigeria into a $1 trillion economy by 2030. The decision was reached during the Council’s 153rd meeting held yesterday at the Presidential Villa in Abuja. The meeting—the sixth of 2025—was presided over by Vice President Kashim Shettima and attended by President Bola Tinubu,…
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Nigeria’s oil revenue drops 21% below target in Q4 2024 – Budget Office
By Kunle Sanni – Nigeria’s oil earnings fell short of expectations in the last quarter of 2024, with the federal government recording a net oil revenue of ₦3.34 trillion, about 21 percent below the quarterly budget estimate of ₦4.24 trillion, according to the latest report from the Budget Office of the Federation. In its Q4 2024 Budget Implementation Report, the…
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Nigeria leads Africa’s entertainment and media growth at 11.2% – PwC report
Nigeria has emerged as Africa’s top-performing entertainment and media (E&M) market, recording an impressive 11.2 per cent growth rate in 2024, according to the latest report by PricewaterhouseCoopers (PwC). The report, titled “Africa’s E&M Shift: Fast, Focused and Future-Ready (Perspective from the Africa Entertainment and Media Outlook 2025–2029)”, ranked Kenya and South Africa next with 7.1 per cent and 6.2…
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Oyo is Nigeria’s most investable sub-national economy, says Makinde
By Adejayan Gbenga – Oyo State Governor, Seyi Makinde, has described the state as Nigeria’s most investable sub-national economy, highlighting its readiness for global partnerships during his keynote address at the Nigeria–Belgium Luxembourg Business Forum held on Wednesday. Speaking on the theme “Oyo State: Nigeria’s Investable Frontier for Strategic Global Partnerships,” Makinde said the state had undergone significant transformation over…
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Wike hails Tinubu’s courage on fuel subsidy removal, highlights fiscal gains
By Kunle Sanni – Minister of the Federal Capital Territory (FCT), Nyesom Wike, has commended President Bola Tinubu for what he described as a courageous and transformative decision to remove the fuel subsidy. Speaking at the 2025 Innovate Africa Conference in Abuja on Thursday, Wike said the move, though initially met with public resistance, has begun to yield positive fiscal…
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FG to invest $220m in job creation for young Nigerians
By Kunle Sanni – The Federal Government has announced plans to invest $220 million in creating job opportunities for young Nigerians under the Nigeria Jubilee Fellows Programme (NJFP) 2.0 — a partnership with the European Union (EU) and the United Nations Development Programme (UNDP) aimed at equipping graduates with practical work experience, training, and mentorship. Vice President Kashim Shettima, who…
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