Economy
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Bagudu: Tinubu’s reforms fueling economic recovery, investor confidence
By Kunle Sanni Nigeria’s economy is on a steady path to recovery, buoyed by President Bola Ahmed Tinubu’s economic reforms, according to the Minister of Budget and Economic Planning, Abubakar Bagudu. Speaking in a special feature interview for an upcoming TV documentary marking the President’s second year in office, Bagudu said the administration’s “Renewed Hope Agenda” is driving investor confidence…
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‘There’s no better time to invest in Nigeria’ — Shettima tells Islamic Development Bank
By Kunle Sanni Vice President Kashim Shettima has declared that Nigeria is ripe for investment, pointing to sweeping economic reforms under President Bola Ahmed Tinubu’s administration as a catalyst for a more investor-friendly climate. Speaking on Tuesday during a courtesy visit by a delegation from the Islamic Development Bank (IsDB) at the Presidential Villa, Shettima said key disincentives that previously…
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NNPC withholding half of fuel subsidy savings – World Bank
The World Bank has expressed concern that Nigeria is not reaping the full financial benefits of fuel subsidy removal, as the Nigerian National Petroleum Company (NNPC) Limited is reportedly remitting only half of the expected revenue to the federation account. Alex Sienaert, the bank’s lead economist for Nigeria, revealed this during the launch of the May 2025 Nigeria Development Update…
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FG to finance key infrastructural projects with N300bn Sukuk bond
The Debt Management Office (DMO) through the Federal Government has opened a seven-year N300 billion forward Ijarah (lease) Sukuk at a “rental rate” of 19.75 per cent per annum, with the aim to finance key infrastructural projects in the country. Sukuk is part of the federal government’s debt instruments used to finance infrastructure, promote financial inclusion and deepen Nigeria’s domestic…
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Bagudu reiterates on Tinubu’s economic reforms delivering positive outcomes
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has reiterated on Monday that President Bola Tinubu economic reforms are delivering positive outcomes, stating that the present administration is determined to bring development to the grassroots by transforming local government areas into centres of economic growth. The minister, optimistic about the incremental and positive outcome of the administration’s…
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World Bank foresees an average 22.1% inflation rate for Nigeria
Nigeria’s inflation rate is projected to average 22.1per cent in 2025 as the Central Bank of Nigeria (CBN) tight monetary stance begins to anchor inflation expectations and restore confidence in macroeconomic management. This was disclosed in a statement published Monday on the World Bank’s website, following the formal launch of the latest Nigeria Development Update (NDU) report in Abuja. The…
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Nigeria showcases investment potential at UK conference, seeks partnerships
Nigeria’s Minister of State for Finance, Dr. Doris Uzoka-Anite, has urged global investors to explore the country’s vast investment opportunities, positioning Nigeria as a key destination for sustainable growth in Africa. Speaking at the 2025 Milken Institute Global Conference in New York, USA, Dr. Uzoka-Anite highlighted the country’s evolving economic landscape and commitment to reforms aimed at attracting long-term investment.…
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Nigeria records fastest economic growth in ten years – World Bank
By Kunle Sanni Nigeria’s economy posted its strongest performance in nearly a decade in 2024, according to the World Bank, with growth driven by a robust fourth quarter and improving fiscal conditions. At a presentation on Monday ahead of the release of the Nigeria Development Update (NDU), the World Bank’s Lead Economist for Nigeria, Alex Sienaert, revealed that the economy…
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‘Nigeria First Policy’ to accelerate Nigeria’s industrial revolution, says NASENI boss
The National Agency for Science and Engineering Infrastructure (NASENI) has welcomed President Bola Ahmed Tinubu’s “Nigeria First Policy,” describing it as a bold step toward accelerating Nigeria’s industrial revolution and economic growth. This is contained in a statement signed by Director of Information, NASENI, Olusegun Ayeoyenikan. In a statement, NASENI’s Executive Vice Chairman and CEO, Khalil Suleiman Halilu, commended the…
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Nigeria unveils digital trade mapping findings at Lusaka Jollof Mixer
Nigeria showcased its commitment to advancing the continent’s digital economy on Friday night in Lusaka, Zambia, as it unveiled preliminary findings from its National Digital Trade Mapping project at a high-level networking event tagged the Jollof Mixer. The event, hosted in collaboration with the United Nations Development Programme (UNDP Nigeria), brought together over 400 participants, including tech innovators, policymakers, and…
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