Economy
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FG working with World Bank to digitally empower Nigerian youths, drive job creation, says Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has affirmed that President Bola Tinubu’s administration is working closely with the World Bank to advance a shared agenda focused on creating high-quality jobs for young Nigerians. The Minister disclosed this in a statement by Director, Information and Public Relations, federal ministry of finance, Mr. Mohammed Manga.…
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FG unveils new agribusiness plan to curb food inflation
By Kunle Sanni The federal government is set to launch a National Agribusiness Policy Mechanism (NAPM) to boost agricultural productivity, stabilise food prices, and address rising food inflation. Vice President Kashim Shettima announced the initiative on Friday during a meeting of the Presidential Food Systems Coordinating Unit (PFSCU) Steering Committee at the Presidential Villa, Abuja. He described it as a…
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IMF to Nigeria: Clean up oil sector, cut debt smartly
The International Monetary Fund (IMF) has urged Nigeria to ramp up transparency in its oil sector and tighten its borrowing strategy to fully reap the benefits of its ongoing economic reforms. Speaking at the IMF and World Bank Spring Meetings in Washington, D.C., Abebe Selassie, Director of the IMF’s African Department, praised Nigeria’s recent steps—particularly the removal of fuel subsidies—but…
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FG to prioritise spending in 2025 budget in response to global crude oil price volatility – Wale Edun
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has revealed that the Federal Government will focus only on priority projects in the 2025 budget in response to global crude oil price volatility. Edun, who spoke in Washington at an investors’ forum on the sidelines of the ongoing World Bank/IMF Spring Meetings, noted that the 2025 budget was…
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Cardoso insists on orthodox monetary policy, says investors’ interest in Nigeria is huge
Central Bank Governor Yemi Cardoso has said that he will continue to pursue orthodox monetary policy to steer the economy out of the woods. The Governor spoke in Washington at an investors’ forum on the sidelines of the ongoing World Bank/IMF Spring Meetings, where he assured the global investment community that the Federal Government, led by President Bola Tinubu, has…
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IMF urges African unity to tackle global economic pressures
The International Monetary Fund (IMF) has called on African leaders to strengthen intra-regional trade and cooperation as a strategy to cushion the continent against mounting global economic pressures. Kristalina Georgieva, IMF Managing Director, made this appeal during a press briefing on the global policy agenda at the joint spring meetings of the IMF and World Bank in Washington, D.C., on…
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World Bank lauds Nigeria’s economy, Naira stability under CBN reforms
The World Bank has credited recent reforms by the Central Bank of Nigeria (CBN) for bringing greater stability to the naira and improving liquidity in the foreign exchange (FX) market. In its latest Africa’s Pulse regional economic outlook, the Bank noted that while the naira was one of the continent’s worst-performing currencies over the past year—alongside the South Sudanese pound…
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ECA balance stands at $473,754.57 – Accountant-General tells NEC
By Kunle Sanni The Accountant-General of the Federation, Shamsudeen Ogunjimi, has disclosed that Nigeria’s Excess Crude Account (ECA) balance stood at $473,754.57 as of April 2025. Ogunjimi made the disclosure during the 149th meeting of the National Economic Council (NEC), held on Thursday at the Presidential Villa, Abuja, and chaired by Vice-President Kashim Shettima. The ECA, established in 2004 under…
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Nigeria, Ireland to collaborate in revolutionizing livestock industry
The Honourable Minister of Livestock Development, Idi Mukhtar Maiha, on Thursday, received the Ambassador of Ireland to Nigeria, Mr. Peter Ryan, at the Ministry’s headquarters in Abuja to discuss strengthening bilateral ties in agriculture and livestock development. During the courtesy visit, both parties explored avenues for deepening collaboration between Nigeria and Ireland, particularly in the areas of livestock genetics, sustainable…
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NEC approves Textile Board, $90bn agribusiness plan to drive economic growth
By Kunle Sanni The National Economic Council (NEC) has approved the establishment of a Cotton, Textile and Garment Development Board, alongside a transformative livestock and agribusiness strategy projected to unlock $90 billion in economic value by 2035. These were among the key resolutions from the council’s 149th meeting held Thursday at the Presidential Villa, Abuja, and chaired by Vice President…
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