Economy
-
Fitch upgrades Nigeria’s credit rating, cites growth in Tinubu’s economic reforms
Fitch Ratings has upgraded Nigeria’s credit rating to ‘B’, reflecting growing confidence in the country’s economic direction under President Bola Tinubu’s administration. The global credit rating agency attributed the upgrade to a series of policy reforms initiated since June 2023. These include exchange rate liberalisation, tightening of monetary policy, halting of deficit financing through the Central Bank, and the removal…
Read More » -
FG sets up committee to assess impact of U.S. tariffs
The Federal Government has established a sub-committee under the Economic Management Team (EMT) to assess the impact of new U.S. tariffs on Nigerian exports and fluctuations in global commodity prices. The committee, chaired by Finance Minister and Coordinating Minister of the Economy, Wale Edun, aims to develop strategies that will cushion the country against potential economic shocks arising from these…
Read More » -
Nigeria launches AATC to enhance intra-African trade, economic integration
Nigeria on Thursday hosted the official launch of the African Trade Centre (AATC) in Abuja, marking a major step toward deepening intra-African trade and economic integration across the continent. The event, held under the auspices of the Federal Ministry of Finance, brought together key stakeholders and development partners in a show of commitment to economic diversification, regional collaboration, and sustainable…
Read More » -
Nigeria, China ink deal to drive renewable energy growth, power sector overhaul
The Energy Commission of Nigeria (ECN) has signed a Memorandum of Understanding (MoU) with China Energy Engineering Corporation Ltd (Energy China) and the Nigerian Governors’ Forum (NGF). The agreement which was formalized on Thursday in Abuja, is aimed at accelerating renewable energy development and implementing critical power sector reforms. Director-General of the ECN, Dr. Mustafa Abdullahi, described the partnership as…
Read More » -
BUA Group partners Sweden’s Alfa Laval to build new palm oil refinery in Nigeria
BUA Group, one of Africa’s leading industrial conglomerates, has signed a strategic partnership with Sweden’s Alfa Laval to construct a state-of-the-art palm oil refinery and fractionation plant in Nigeria. The agreement was signed in Dubai by BUA’s Founder and Executive Chairman, Abdul Samad Rabiu, and Panjak Maheshwari, Vice President of the Food & Water Division at Alfa Laval. The new…
Read More » -
Nigeria courts French investors, showcases economic reforms
The Minister of Information and National Orientation, Mohammed Idris, has called on French investors to take advantage of Nigeria’s sweeping economic reforms and vast market potential. Speaking at the Nigeria Business Forum in Paris on Thursday, he emphasized the country’s commitment to attracting long-term foreign direct investment. Organized by Business France, the event drew participation from over 200 French companies.…
Read More » -
Sweden expands investment frontier in Nigeria, opens trade office in Lagos
The Swedish government opened a trade office in Lagos to serve as a bridge for Swedish companies to invest in Nigeria and build relationships between the two countries. In his remarks, Minister of Budget and Economic Planning, Senator Abubakar Bagudu, highlighted Nigeria’s absorptive capacity and impressive returns on investment in various sectors and welcomed the Swedish Government’s initiative to advance…
Read More » -
Wale Edun challenges NCS on reforms to unlock regional trade potential
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called for accelerated Nigerian Customs Service (NCS) reforms across West and Central Africa to strengthen intra-African trade and enhance economic resilience. He made the remarks at the opening of the Fourth Conference of Development Partners of the World Customs Organization for West and Central Africa (WCO-WCA) in…
Read More » -
FG to explore AfCFTA, women-led MSME amid Trump’s trade policies
The Federal Government on Tuesday said it will respond to the new tariffs policies by United States (U.S) President Donald Trump by advancing a fresh export drive targeting the African Continental Free Trade Area (AfCFTA) and women-led MSME of some of the strategies. Highlighting on National television how the FG plans to cushion the effects of the trade policies being introduced…
Read More » -
Nigeria can drive global economic growth — World Bank Director
The World Bank Country Director for Nigeria, Dr. Ndiame Diop, has said that Nigeria’s rapidly growing working-age population presents a unique opportunity for the country to become a key driver of global economic growth. Dr. Diop stated this while delivering a lecture at the Distinguished Personality Lecture Series organized by the Department of Agricultural Economics, University of Ibadan, on Tuesday.…
Read More »
Follow our WhatsApp Channel