Economy
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Tinubu urges Africa to control mineral future, lead global supply chains
By Kunle Sanni – President Bola Tinubu has called on African nations to take charge of financing and managing their mineral resources, stressing the need to assert greater influence in global supply chains. Speaking through Vice President Kashim Shettima at the Second Africa Minerals Strategy Group (AMSG) High-Level Roundtable on Critical Minerals Development, held on the sidelines of the 80th…
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Stakeholders hail Nigeria’s Renewed Hope Agenda at high-level UNGA 80 side event
Stakeholders from across government, diplomacy, and the diaspora have commended Nigeria for its compelling showcase of progress and vision at a high-level side event held on the margins of the 80th United Nations General Assembly (UNGA 80). The event, which took place on Monday at the Nigeria Mission House in New York, was convened under the banner UNGA80RenewedHopeGlobal and widely…
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UNGA 2025: Shettima showcases $200bn energy transition opportunity
By Kunle Sanni – Vice President Kashim Shettima has presented Nigeria’s $200 billion energy transition opportunity to global investors, calling for stronger partnerships to harness the country’s vast economic potential. Speaking at a roundtable organized by the Business Council for International Understanding (BCIU) on the sidelines of the 80th United Nations General Assembly, Shettima described Nigeria as a “natural hub”…
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BREAKING: Nigeria’s GDP expands by 4.23% in Q2 2025, says NBS
The National Bureau of Statistics (NBS), on Monday disclosed that Nigeria’s economy expanded further in Q2 2025, with real Gross Domestic Product (GDP) growing by 4.23 per cent from 3.13 per cent in first quarter of 2025. According to NBS, the oil sector grew by 20.46 per cent in Q2 2025 1.87 per cent in Q1 2025 with crude oil…
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DAPPMAN business model outdated, Dangote transforming downstream sector – Otedola
Chairman of Geregu Power Plc and billionaire businessman, Femi Otedola, on Sunday declared that the business model of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) is outdated and no longer fit for purpose in Nigeria’s evolving energy sector. He praised Aliko Dangote for ushering in a new era of efficiency and transparency through the Dangote Refinery, describing…
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How Jonathan paid fraudulent N2trn fuel subsidy claims – Femi Otedola
Billionaire businessman Femi Otedola has revealed that over N2 trillion was fraudulently paid in fuel subsidy claims during the administration of former President Goodluck Jonathan, despite his personal warnings to the ex-president about widespread manipulation in the subsidy system. Otedola made the revelation on Sunday, explaining that the fraudulent claims were tied to depot licenses used by oil marketers to…
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Nigeria, China trade increases to $15.5bn in seven months, says Consul-General
The Consul-General of the People’s Republic of China in Lagos, Ms Yan Yuqing, has said bilateral trade between China and Nigeria reached $15.48 billion between January and July. Yuqing disclosed this on Sunday at a reception to mark three historic occasions: the 76th anniversary of the founding of the People’s Republic of China, Nigeria’s 64th independence anniversary, and the Mid-Autumn…
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LBS projects Nigeria’s E- commerce market to exceed $16bn by 2030
The Lagos Business School (LBS) said it projected that Nigeria’s E-commerce market, to exceed the $16 billion by 2030, fuelled by trailblazing platforms like Jumia and Konga. This was according to Dean, Lagos Business School, Professor Olayinka David-West on Saturday at the 35th annual conference of the Finance Correspondents Association of Nigeria (FICAN) in Lagos under the theme, “Bracing for…
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FG launches 10-year strategy to revamp livestock sector
The Federal government has unveiled an ambitious 10-year road map to revamp Nigeria’s livestock sector, as the country continues to record signs of macroeconomic stability and growth. The announcement came during a meeting of the Economic Management Team (EMT), chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Thursday in Abuja. The EMT…
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NEC approves NASENI’s solar irrigation pumps for nationwide rollout
…as Council seeks Tinubu’s nod for mass production ahead of 2025 dry season By Kunle Sanni – The National Economic Council (NEC) has approved the adoption of solar-powered irrigation pumps developed by the National Agency for Science and Engineering Infrastructure (NASENI), as part of efforts to boost food security across Nigeria. The decision, reached at NEC’s 152nd meeting held Thursday…
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