Economy
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Wale Edun reaffirms Tinubu’s economic growth, development through private sector
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun on Friday reaffirmed the President Bola Tinubu-led Administration’s commitment to leveraging the private sector as a key driver of Nigeria’s economic growth and development. The Director, Information and Public Relations, Federal Ministry Of Finance, Mr. Mohammed Manga in a statement stated that Edun gave the assurance in…
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₦156.9bn approved for airport rehabilitation in Kano, Lagos, PH, Enugu – Keyamo
By Kunle Sanni – The Federal Government has approved a total of ₦156.9 billion for major upgrades at key airports across the country, including Malam Aminu Kano International Airport in Kano, as part of efforts to enhance aviation safety, operational efficiency, and infrastructure nationwide. Minister of Aviation and Aerospace Development, Festus Keyamo, announced the approvals on Thursday while briefing State…
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Average petrol prices surge to N1,037/litre in June 2025, says NBS
National Bureau of Statistics (NBS) on Thursday said the average retail price of Premium Motor Spirit (PMS), commonly known as petrol, rose to N1,037.66 in June 2025, marking a 38.32per cent year-on-year increase from N750.17 recorded in June 2024. On a month-on-month basis, the price rose by 0.96per cent from N1,027.76 in May 2025. NBS in its “Premium Motor Spirit…
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NNPCL reaffirms commitment to rehabilitate Port Harcourt refinery, rules out sale
In a decisive move, the Nigerian National Petroleum Company Limited (NNPCL) on Wednesday announced it will not sell the Port Harcourt Refining Company, opting instead for a comprehensive rehabilitation to ensure its sustained operation. Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, made the announcement during a company-wide town hall meeting at the NNPC Towers in Abuja, ending weeks…
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North’s fiscal position stronger under Tinubu – Bagudu
-Says president, fair to all Assessed by the quantum leap in revenue and massive debt reduction of the states, the North has made more significant economic progress under President Bola Tinubu, according to the Minister of Budget and Economic Planning, Senator Abubakar Bagudu. Bagudu spoke on Wednesday in Kaduna during a presentation to the Sir Amadu Bello Memorial Foundation, which…
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FG’s N21trn borrowing tied to critical infrastructure, social project, says aide
The Special Adviser, Media & Public Communication/Spokesperson to President Bola Tinubu, Mr. Sunday Dare on Tuesday hinted that the N21 trillion Senate approved medium-term borrowing plan by the federal government is tied to critical infrastructure and social projects such as railway, power, Health, education among others. Dare in a post on X titled, “setting thr record straight on Nigeria’s borrowing plan,” breaking down the loan said, the…
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Nigeria unveils 10-year youth-led agricultural transformation plan at UN Food Summit
By Kunle Sanni – Nigeria has unveiled a comprehensive 10-year plan aimed at transforming its agricultural sector through youth-led innovation, as part of efforts to strengthen food security and drive sustainable development. Vice President Kashim Shettima made the announcement at the United Nations Food Systems Summit Stocktake (UNFSS+4), where African leaders and youth entrepreneurs gathered to chart the future of…
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FG directs banks to flag ₦25m+ individual, ₦100m+ corporate transactions monthly
The federal government has directed banks and financial institutions to begin submitting monthly reports of high-value transactions to tax authorities. Under the new tax regulations, individuals whose transactions exceed ₦25 million and companies whose transactions exceed ₦100 million in a month must be flagged and reported. This directive is part of changes introduced in the amended Nigerian Tax Act, set…
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Nigeria secures climate, tech partnerships at UN Summit in Addis Ababa
By Kunle Sanni – Nigeria has secured two major international partnerships aimed at bolstering its climate action and technological development goals during the ongoing United Nations Food Systems Summit in Addis Ababa, Ethiopia. Vice President Kashim Shettima announced on Monday that the Federal Government is set to sign a Memorandum of Understanding (MoU) with a global consortium comprising the Dalberg…
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FG plans $1.23bn external borrowing plan for 2025
The Federal Government (FG) on Monday said the external borrowing component of the 2025 budget, valued at $1.23 billion, has not yet been accessed and is scheduled for disbursement in the second half (H2) of 2025. The Director, Information and Public Relations, Federal Ministry of Financez, Mohammed Manga discloseed this in response to the formal request submitted by President Bola…
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