Economy
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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…
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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…
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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…
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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.…
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Agricultural sector has benefited N1.42trn since inception of Tinubu’s administration, says Bagudu
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, on Tuesday revealed that Agricultural sector has benefited N1.42trn from budgetary allocation since inception of President Bola Tinubu’s administration. Specifically, he pointed out that the sector benefited from increased budgetary allocations since the inception of Tinubu’s administration, rising from N228.4 billion (1.05per cent of the 2023 budget) to N362.94 billion…
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USA slams Nigeria’s import bans on 25 products
The United States Trade Representative (USTR) has berated Nigeria for imposing an import ban on 25 different product categories, which is impacting American exporters. Coming at a time tensions are rising over the sweeping tariffs imposed on several countries by the U.S., the trade body described the import ban by Nigeria as one of the 10 unfair trade practices perpetrated…
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FG unveils governance scorecard to drive Tinubu’s $1trn economy
The Federal Government, on Monday unveiled governance scorecard to drive President Bola Tinubu’s $1 trillion economy drive. Backed by the World Bank, the initiative marks a shift in how Nigeria manages public wealth—with governance now central to growth, resilience, and investor confidence. The Coordinating Minister of the Economy, Mr. Wale Edun has spotlighted corporate governance as a key lever in…
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DisCos reports 94.61% energy offtake in Q4 2024
The Nigerian Electricity Regulatory Commission (NERC) has disclosed that electricity distribution companies (DisCos) recorded a cumulative energy offtake performance of 94.61per cent in the fourth quarter (Q4) of 2024. This was revealed in the recently released NERC 2024/Q4 Report, which also noted a 4.14 percentage point increase in energy offtake compared to Q3 2024. According to the report, five DisCos…
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Equities market stumbles by 0.01% WoW
The Nigerian equities market closed the week on a bearish note as the Nigerian Exchange Limited All-Share Index (NGX ASI) edged down by 0.01per cent W/Week (W/W) to 105,511.89 basis points, tempering the year-to-date return to 2.51 per cent. Market capitalization mirrored the decline, shedding N6.38 billion to settle at N66.15 trillion, underscoring tepid investor confidence. The weeklong downturn was…
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Nigeria’s total public debt rises to N144.7trn in 2024, says DMO
The Debt Management Office (DMO) has disclosed that Nigeria’s total public debt rose to N144.7 trillion ($94.23 billion) as of December 31, 2024, reflecting a significant increase of 48.58per cent compared to N97.34 trillion ($108.23 billion) recorded at the end of December 2023. The latest figure by DMO also indicated a quarter-on-quarter rise of 1.65per cent from the N142.32 trillion…
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