Economy
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Nigeria, Japan agree to strengthen mining collaboration at 9th edition of TICAD
Nigeria and Japan have pledged to strengthen cooperation in the mining sector, with plans to encourage Japanese companies to invest in Nigeria’s rich mineral resources. The commitment followed discussions between Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, and officials of the Japan Organization for Metals and Energy Security (JOGMEC) on Thursday in Yokohama, during the 9th Tokyo International…
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Nigeria, Benin Republic sign pact to drive trade, development in border areas
Nigeria and the Republic of Benin have signed a Memorandum of Understanding (MoU) to strengthen grassroots cross-border cooperation. The agreement, signed on August 18, 2025, aims to strengthen collaboration between local government authorities and traditional institutions along the shared frontier. The MoU, anchored on the African Union Convention on Cross-Border Cooperation, ECOWAS Cross-Border Initiatives, and the Nigeria–Benin Cross-Border Agreement, formalizes…
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NASENI hits milestone with $2bn commitments, 40 innovations under Tinubu
The Executive Vice Chairman of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Halilu, says Nigeria has witnessed unprecedented progress in technology transfer under President Bola Tinubu’s administration, with over 1,000 applications from global companies received in just one year. Halilu made this known during President Tinubu’s interactive session with Nigerians in Japan, held on the sidelines…
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NNPC, gas firms sign 20-Year gas supply deals with NLNG
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and several upstream gas suppliers have signed long-term Gas Supply Agreements (GSAs) with the Nigeria Liquefied Natural Gas Limited (NLNG) for the delivery of 1.29 billion standard cubic feet per day of feedgas. The 20-year agreements, which include extension options, were signed on Friday at the NNPC Towers in Abuja. Signatories included…
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DMO sets 60% nominal debt to GDP by 2027
The Debt Management Office (DMO) said it projected 60 per cent nominal debt to Gross Domestic Product (GDP) target for 2027 as against 52.25 per cent declared December 2024. The debt office in a circular also said it target a maximum of 4.5 per cent interest payment to GDP as against 3.75 per cent in 2024 and Sovereign Guarantees/GDP with…
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FG, States, LGs share N2.001trn in July 2025 revenue
The Federation Account Allocation Committee (FAAC) has distributed a total of N2.001 trillion as July 2025 revenue to the Federal Government, State Governments, and Local Government Councils. The allocation was confirmed during FAAC’s August 2025 meeting held in Abuja. The N2.001 trillion distributable revenue comprised N1.282 trillion from statutory revenue, N640.610 billion from Value Added Tax (VAT), N37.601 billion from…
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Average diesel price drops by 1.34% to N1789.45/litre in July 2025, says NBS
The National Bureau of Statistics (NBS) has reported that the average retail price of Automotive Gas Oil (diesel) dropped to N1,789.45 per litre in July 2025. This marks a 1.34 per cent decrease from the N1,813.81 per litre recorded in June 2025. This data was contained in the latest NBS’ “Automotive Gas Oil (Diesel) Price Watch” for July 2025. According…
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TICAD 9: Bagudu reaffirms Tinubu’s determination to strengthen partnerships with Japan
Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu has reaffirmed the determination of President Bola Ahmed Tinubu, to strengthen partnerships with Japan and other international stakeholders in advancing cooperation and development objectives. He stated this at the ongoing 9th Tokyo International Conference on African Development (TICAD 9). Bagudu, who participated in the second plenary session on the…
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Stockbrokers urge public-private partnership to achieve $1 trillion economy target
By Kunle Sanni – The Chartered Institute of Stockbrokers (CIS) has called for stronger collaboration between the public and private sectors to realize President Bola Ahmed Tinubu’s target of building a $1 trillion economy. In a communiqué signed by its President and Chairman of Council, Oluropo Dada, the Institute said the target is achievable but requires coordinated efforts to deepen…
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Niger secures $100m livestock export deal with Saudi Arabia
Niger State has struck a $100 million livestock offtake agreement with the Saudi Export and Import Bank, in a move Governor Mohammed Umaru Bago says will increase non-oil exports and strengthen food trade with the Middle East. The deal, announced at the FirstBank Agric and Export Expo 2025, begins with an initial $10 million tranche and positions Niger as a…
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