Economy
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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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‘Collaboration, not antagonism, is how we win’ — NNPC GCEO Ojulari
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr. Bashir Bayo Ojulari, has reaffirmed his commitment to building strong partnerships with key stakeholders to deliver on the strategic mandate entrusted to him by President Bola Ahmed Tinubu. Ojulari made this known during a courtesy visit to the Minister of Petroleum Resources (Oil), Senator…
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FG reaffirms commitment to food security, launches ASWG
The Federal Government has reiterated its commitment to ensuring food security across the nation, with a renewed focus on strengthening agricultural planning and coordination. The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made this known at the inaugural meeting of the Agricultural Sector Working Group (ASWG) held in Abuja. Speaking at the event, Minister…
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Revamped cooperative sector key to economic empowerment – Sen. Abdullahi
By Kunle Sanni The Minister of State for Agriculture and Food Security, Senator Aliyu Abdullahi, has declared that a revitalized cooperative sector holds the key to economic empowerment and national prosperity, positioning Nigerian cooperators as active contributors to a $1 trillion economy within the decade. He made this statement during the flag-off ceremony of a national training and workshop for…
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IMPI slams Senator Ndume over World Bank loan claims
The Independent Media and Policy Initiative (IMPI) has faulted former Senate Chief Whip, Mohammed Ali Ndume, over his recent comments on World Bank loans secured by the Bola Tinubu administration, describing them as a deliberate misrepresentation of facts and a narrow understanding of Nigeria’s development needs. In a statement signed by its Chairman, Dr. Omoniyi Akinsiju, the policy think tank…
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Wale Edun reiterates Tinubu’s commitment to food security
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Tuesday reaffirmed the Federal Government’s commitment to food security, urging a more agile and resilient approach to agricultural planning. Speaking at the inaugural meeting of the Agricultural Sector Working Group (ASWG) in Abuja, he stressed the need to align Nigeria’s agricultural roadmap with the post-Malabo agenda,…
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Oyetola directs NIMASA to disburse $350m cabotage fund to local shipping firms
The Minister of Marine and Blue Economy, Adegboyega Oyetola on Tuesday directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to commence the process for the disbursement of $350 million Cabotage Vessel Financing Fund (CVFF) to indigenous ship owners. NIMASA, in alignment with the minister’s directive, has immediately issued a Marine Notice inviting eligible Nigerian shipping companies to apply. Qualified…
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FAAC allocation down by N100bn in March despite revenue rise
The Federation Account Allocation Committee (FAAC) has reported a total revenue distribution of N1.57 trillion to the federal, state, and local governments for March 2025—reflecting a drop of N100 billion compared to the N1.67 trillion shared in February. This was disclosed in a communiqué issued after FAAC’s monthly meeting chaired by the Minister of Finance and Coordinating Minister of the…
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FG orders immediate disbursement of CVFF to encourage indigenous shipping
By Kunle Sanni After more than two decades of anticipation, the Federal Government has finally unlocked the Cabotage Vessel Financing Fund (CVFF), following a directive by the Minister of Marine and Blue Economy, Adegboyega Oyetola, to the Nigerian Maritime Administration and Safety Agency (NIMASA) to begin immediate disbursement. The fund, created under the Coastal and Inland Shipping (Cabotage) Act of…
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Petrol prices in Nigeria cheap despite subsidy removal – NMDPRA
By Kunle Sanni Despite the removal of the fuel subsidy in May 2023, petrol prices in Nigeria remain cheaper than those in several West African countries, according to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). NMDPRA’s Chief Executive Officer, Farouk Ahmed, disclosed this on Tuesday during a briefing with State House correspondents. He explained that the…
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