Economy
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FG, Meta initiate AI-powered solutions to tackle Nigeria’s critical challenges
Mark Zuckerberg’s Meta has partnered with the Federal government to launch the Llama Impact Accelerator, a new initiative designed to drive AI-powered solutions for Nigeria’s critical challenges. Meta will be driving the initiative with the Federal Ministry of Communications, Innovation & Digital Economy (FMCIDE), the National Centre for Artificial Intelligence and Robotics (NCAIR), and the National Information Technology Development Agency…
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Nigeria rises to second-largest U.S. trade partner in Africa with $13bn exchange
The United States is intensifying efforts to deepen commercial ties with Nigeria, with Ambassador Richard Mills revealing that bilateral trade between the two nations reached approximately $13 billion in 2024, making Nigeria the second-largest U.S. trade partner in Africa. Speaking at the Lagos Business School during a policy dialogue titled “Toward a Robust U.S.-Nigeria Commercial and Investment Partnership,” Ambassador Mills…
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Tinubu’s reforms gaining ground, economy recovering – Bagudu
By Kunle Sanni As Nigeria marks two years under President Bola Tinubu’s leadership, key government figures have praised the administration’s economic reforms and developmental strides, calling for patience and continued support from Nigerians. Speaking in Lagos after a Sallah homage to the President, Minister of Budget and Economic Planning, Senator Atiku Bagudu, said the nation’s economy—though not yet where it…
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BREAKING: ‘Infrastructure key to Nigeria’s future’ – Tinubu vows increased funding
By Kunle Sanni President Bola Tinubu has reaffirmed his administration’s commitment to delivering world-class infrastructure across Nigeria. The president declared that his government would “find more money” to fund infrastructure projects, which he described as the backbone of industrialisation, job creation, and economic growth. Speaking during the inauguration of the Lekki Deep Sea Port access roads—designed to unlock vital routes…
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FG deepens engagement with strategic indigenous player in energy sector
The Federal government on Tuesday said it continue to deepen engagement with Renaissance Africa Energy Company Limited (RAEC), a strategic indigenous player in energy sector with the aim to increase participation of Nigerian-owned companies in key sectors. Specifically, a delegation from RAEC paid a courtesy visit to the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun,…
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Tinubu’s foreign trips attract over $50 billion in investments — Presidency
By Kunle Sanni The Presidency says President Bola Tinubu’s international engagements over the past two years have attracted more than $50 billion in Foreign Direct Investment (FDI) commitments to Nigeria. The disclosure was made on Monday by Ambassador Sola Enikanolaye, Senior Special Assistant to the President on Foreign Affairs and International Relations, during a mid-term review of the administration’s foreign…
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Nigeria eyes cocoa processing boost, $25bn gas pipeline investment to Europe
By Kunle Sanni Vice President Kashim Shettima has reaffirmed the federal government’s commitment to transforming Nigeria’s cocoa industry from raw commodity production to full-scale processing, as part of efforts to boost value addition and create jobs across the agricultural sector. Speaking during a meeting with the World Cocoa Foundation (WCF) at the Presidential Villa on Monday, the Vice President said…
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Average retail price for 5kg Gas rose by 7.69% to N7,885.60, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that the average retail price for refilling a 5kg Cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 7.69 per cent on a month-on-month basis from N7,322.49 recorded in March 2025 to N7,885.60 in April 2025. The latest report by NBS revealed that on a year-on-year basis, this increased by 20.92per cent…
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Local refining slashes petrol prices by nearly half in Nigeria – Dangote
Aliko Dangote, president of the Dangote Group, says Nigerians are paying only 55 percent of what citizens in other West African countries spend on petrol, thanks to local refining. Dangote made the statement during a visit to his refinery by Omar Touray, president of the Economic Community of West African States (ECOWAS) Commission. “In neighbouring countries, the average price of…
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Nigeria prepared to tackle illegal migration, says Bagudu
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has stated that Nigeria is keen to collaborate with any country and tackle the issue of illegal migration “We, more than anyone else, wish to halt illegal migration because it distorts legal migration,” he told the Austrian Ambassador to Nigeria, Mr Peter Guschelbauer, during a high-level meeting during the weekend…
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