Economy
-
Nigeria’s GDP grew by 3.13% in Q1 2025, says NBS
National Bureau of Statistics (NBS) on Monday disclosed that Nigeria’s Gross Domestic Product (GDP) increased to 3.13 per cent in(year-on-year) in real terms of first quarter (Q1) of 2025. The latest report by NBS stated that the growth rate is higher than the 2.27 per cent recorded in the first quarter of 2024. According to the report, the performance of…
Read More » -
FG launches inter-ministerial committee on HOPE programme
The Federal Government, yesterday launched an Inter-Ministerial Committee for the Human Capital Opportunities for Prosperity and Equity (HOPE) programme to ensure better service delivery in education, healthcare, and good governance, benefiting Nigerians. Director Information & PR, Mrs. Osagie Jacobs in a statement said the Inter-Ministerial Committee, chaired by the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, and…
Read More » -
States reduce debt exposure amid rising FG’s allocation
Data by Debt Management Office (DMO) has showed that majority of states in Nigeria have drastically reduced their debt exposure in the last two years. The data by DMO revealed that more than three-quarters of the states reduced their loans over the past 15 months and it is on the backdrop of President Bola Tinubu increasing allocation to state amid …
Read More » -
SEC to introduce USSD codes for verifying capital market operators
In its commitment to combat unregistered operators and stem the tide of Ponzi scheme activities in Nigeria, the Securities and Exchange Commission (SEC) is set to introduce an Unstructured Supplementary Service Data (USSD) code for verification of capital market operators. Director General of the SEC, Dr. Emomotimi Agama who stated this in an interview in Abuja weekend, said the code…
Read More » -
Nigeria’s economic growth depends on digital literacy drive – NITDA DG
The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has reaffirmed Nigeria’s commitment to digital literacy as a key driver of economic growth, social inclusion, and national prosperity, saying that no meaningful digital economy can thrive without it. Inuwa reiterated this while delivering a presentation titled “Nigeria’s Journey to a Digital Economy” at the BusinessDay CEO…
Read More » -
FAAC shares N1.82trn to FG, States, LGs for June 2025
The Federation Account Allocation Committee (FAAC) has distributed a total sum of N1.82 trillion to the Federal Government, State Governments, and Local Government Councils as Federation Account revenue for the month of June 2025. This represents a 9.6per cent increase—equivalent to N159 billion—when compared to the N1.659 trillion shared in May 2025. This was disclosed in a press statement issued…
Read More » -
Nigeria-China partnership secure over $20bn in investment commitments, says DG Tegbe
The Director General of the Nigeria-China Strategic Partnership (NCSP), Joseph Tegbe, on Friday disclosed that the engagements between the two countries have secured over $20 billion in investment commitments across key sectors of Nigeria. Tegbe in a statement issued by the NCSP stressed on the need to strengthen bilateral collaboration between Nigeria and China as part of ongoing efforts to…
Read More » -
Nigeria Customs intercepts trailers of rice, other contrabands
The Nigeria Customs Service, Federal Operations Unit Zone A, Ikeja said it intercepted 3,500 bags of foreign parboiled rice equivalent to six trailer loads and other contrabands worth N1.7bn in the last four weeks. The Comptroller General of Customs, Adewale Adeniyi, disclosed this while showcasing some of the seized contrabands at Ikeja on Friday. He stressed that within the period…
Read More » -
UPDATED: First Holdco refutes FG, Otedola’s involvement in N312.25bn shares acquisition on NGX
First HoldCo Plc on Friday evening has denied reports linking its chairman, Mr. Femi Otedola, and the Federal government to the acquisition of N312.25 billion block sale of its shares on the Nigerian Exchange Limited (NGX). However, a report has revealed that a Lagos-based RC Investment Management Limited, primarily controlled by Sule Samuel Babatunde, acquired 10.43 billion shares in First Holdco (parent…
Read More » -
Otudeko exit: AGF denies involvement in shares acquisition, admits trustee set up by First Holdco
The Attorney General of the Federation (AGF) on Friday denied involvement in the acquisition of First Holdco Plc shares from the former its Chairman, Mr. Oba Otudeko on the Nigerian Exchange Limited (NGX). The S A to the President on Communication and Publicity, Office of the Attorney General of the Federation and Minister of Justice, Kamarudeen Ogundele, in a statement…
Read More »
Follow our WhatsApp Channel