Economy
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Advocate for citizens’ participation in budget processes, Bagudu urges stakeholders
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has urged civil society organisations and other development partners to raise citizens’ awareness of the importance of participating in the government’s budgetary processes to promote transparency, accountability, and a deeper understanding of governance. The Minister made this call on Wednesday in Abuja when the Open Government Partnership (OGP) Global Support…
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NSIA shifts focus to Asia and Europe, scales down U.S. exposure amid market volatility
By Kunle Sanni The Nigerian Sovereign Investment Authority (NSIA) has announced a strategic pivot in its investment approach, increasing its focus on Asian and European markets while scaling back exposure to U.S. equities. Aminu Umar-Sadiq, Managing Director and Chief Executive Officer of the NSIA, revealed the development in an interview with Bloomberg on Tuesday. He said the authority’s Future Generations…
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Increased revenue, debt reduction: States laud Tinubu’s economic reforms
President Bola Tinubu’s economic reforms, which have resulted in increased revenue and reduced debt, have received praise from the Community of Practice, consisting of the commissioners for Budget and Economic Planning from the 36 states of the federation. “We note the significant increase in revenues accruing to states and local governments and debt reduction resulting from the positive impact of…
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Rewane tackles NBS on inflation data
The managing director of Financial Derivatives Company, Bismarck Rewane has tackled National Bureau of Statistics (NBS) latest report on consumer price index (CPI), stressing that some food-producing states are experiencing high inflation rates, while major consuming states have significantly lower rates. NBS had disclosed that Nigeria’s CPI report used in measuring inflation rate that dropped to 23.71 per cent in…
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Tinubu’s economic reforms are making significant progress, says Bagudu to World Bank
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, on Monday said President Bola Tinubu’s fuel subsidy removal, among other economic reforms are making significant progress and the country is on the right track to achieve the $1 trillion economy. He spoke during a courtesy visit from the World Bank’s new Country Director for Nigeria, Mr. Mathew Verghis, and stated…
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Nigeria’s digital sector draws $191m in Q1 – Bosun Tijani
…$2bn fibre project set for Q4 By Kunle Sanni Nigeria’s digital economy recorded a sharp rise in foreign direct investment (FDI) in the first quarter of 2024, growing from $22 million in Q1 2023 to $191 million, according to the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani. In an interview for a forthcoming State House documentary marking…
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Nigeria’s capital market key to achieving $1trn economy, says Wale Edun
… unveils ISA 2025 and launch of new SEC website Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun , has emphasized the crucial role of the capital market in achieving the nation’s ambitious goal of becoming a $1 trillion economy. Speaking at the Capital Market Committee (CMC) meeting, Edun who was represented by Minister of State…
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55 MDAs fail to answer public phone calls, reveals PEBEC report
A report by Presidential Enabling Business Environment Council (PEBEC) has revealed that 55 Ministries, Department and Agencies (MDAs) failed to pick up telephone calls from the public, while six rated “Excellent” with a prompt and clear in their responses. The mystery exercise was structured into four distinct segments, each designed to evaluate different aspects of service quality. The four segments…
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China deepens mining ties, sets to establish electric vehicle plants in Nigeria
The Chinese Ambassador to Nigeria, His Excellency Yu Dunhai, has called for stronger collaboration between Nigeria and China to unlock the potential of Nigeria’s solid minerals sector through the establishment of electric vehicle factories. During a courtesy visit to the Minister of Solid Minerals Development, Dr. Dele Alake, in Abuja over the weekend, Ambassador Dunhai described Nigeria as a country…
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Federal, state, and LGs share N1.681trn FAAC allocation for April
The Federation Account Allocation Committee (FAAC) has shared a total of N1.681 trillion among the federal, state, and local governments as federation allocation for April 2025. The disbursement was made during FAAC’s May 2025 meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. The allocation came from a gross revenue of N2.848 trillion, comprising…
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