Economy
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IMF projects 3% economic growth for Nigeria above global average
The International Monetary Fund (IMF) has projected that Nigeria’s economy will grow by 3.0 percent in 2025, outperforming the global average growth forecast of 2.5 percent. This is according to the IMF’s April 2025 World Economic Outlook (WEO) report, launched during the ongoing Spring Meetings of the IMF and World Bank in Washington, D.C. While the new projection marks a…
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Nigeria’s economy on steady growth path despite global headwinds, says IMF
Despite global economic headwinds and a downward revision in growth, Nigeria remains on a stable path, buoyed by sound economic policies and international support, according to the latest IMF World Economic Outlook and remarks by top Nigerian officials at the Spring Meetings in Washington DC. Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, speaking at the…
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Wale Edun seeks safety net, development finance as uncertainty heightens
… IMF projects 2.8% global decline in GDP growth 2025 Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun has commended World Bank and the International Monetary Fund (IMF) for providing safety nets and development finance to needy countries. Edun who also serves as the G-24 First Vice-Chair, made the remarks at the ongoing Sprimg Meetings of…
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Advisory committee to ensure adequate funding, planning for census, Bagudu clarifies
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, said on Tuesday in Abuja that the Presidential Committee on Population and Housing Census is an ad hoc technical body established to identify funding sources for the upcoming enumeration of Nigerians. He spoke at the committee’s inaugural meeting, which was inaugurated by President Bola Tinubu last week, to provide informed guidance…
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FG to boost grid capacity by additional 4,000 megawatts
…..Engages companies to expedite process The Federal Government is set to boost Nigeria’s grid capacity by an additional 4,000 megawatts (MW) by the end of 2026. A statement by Bolaji Tunji, Special Adviser on Strategic Communications and Media Relations to the Minister of Power, Adebayo Adelabu, disclosed that the FG has engaged reputable Engineering, Procurement and Construction (EPC) companies to…
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FG unveils BisonFly system to reduce air travel expenses for MDAs
The Federal Government has launched the BisonFly Project, a digital system designed to drive cost savings by reducing air travel expenses across its Ministries, Departments, and Agencies (MDAs), while promoting fiscal discipline and transparency. The initiative was unveiled in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in a statement shared via the Ministry’s…
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FG, Chocolate City partner to boost creative economy
The Federal Ministry of Arts, Culture, Tourism, and the Creative Economy (FMACTCE) has signed a groundbreaking three-year partnership with Chocolate City Group to transform Nigeria’s creative sector. The agreement, formalized on Thursday in Abuja, aims to drive growth through live venue development, talent discovery, global content distribution, and stronger intellectual property protections. The collaboration merges public policy with private sector…
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Nigeria’s IMF loan obligations down to $800.23m, says Presidential aide
An aide to President Bola Tinubu has disclosed that Nigeria’s International Monetary Fund (IMF) loan obligations have been significantly paid down from $2.47 billion as of 2023 to $800.23 million at the end of 2024. A senior aide to the President, Mr. O’tega Ogra in a tweet on Friday stated that Nigeria, under Tinubu, is paying back its IMF loans,…
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Shettima inaugurates innovation committee, eyes $1trillion economy
By Kunle Sanni Vice President Kashim Shettima on Thursday inaugurated the Interministerial Committee on Research and Innovation, tasking it with driving Nigeria towards becoming an innovation-driven, trillion-dollar economy within the next decade. The inauguration, held at the Presidential Villa in Abuja, marks a key step in President Bola Tinubu’s administration’s efforts to coordinate research and innovation across strategic sectors of…
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Nigeria, South Africa sign MoU to enhance mining sector operations
Nigeria and South Africa have signed a Memorandum of Understanding (MoU) to enhance collaboration in the mining sector. The agreement was formalized during a bilateral meeting in Abuja between Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, and South Africa’s Minister of Mineral Resources and Energy, H.E. Gwede Mantashe. The MoU, signed under the framework of the recently inaugurated…
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