Economy
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15 takeaways from the 3rd edition of the 2025 Ministerial Press Briefing series with Jumoke Oduwole, Minister Of Industry, Trade and Investment
The Federal Ministry of Industry, Trade and Investment (FMITI) has signed a Memorandum of Understanding with the Aig Imoukhuede Foundation to digitize the processes and operations of the Ministry and drive effectiveness and efficiency in the delivery of Ministerial mandates and services. The Ministry is embarking on National Industrial Tours across the 6 geo-political zones, conducting on-the-ground assessments of Nigeria’s…
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Nigeria, South Africa among Africa’s top debtors, says report
A report by African Export-Import Bank (Afreximbank) has revealed that Nigeria, South Africa and eight other African countries, accounts for 69 per cent of the continent’s total external debt stock. The report, African Debt Outlook: A Ray of Optimism, highlights Nigeria’s significant debt burden, placing it among the top three most indebted countries, with eight per cent of Africa’s total…
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Nigeria, China sign 7.6b Euros deal transitioning from fossil fuels to clean energy
Nigeria and China have signed a €7.6 billion green hydrogen energy agreement aimed at gradually transitioning from fossil fuels to clean energy in line with global best practices. The landmark deal was formalized over the weekend in Uyo, Akwa Ibom State, between the Federal Government, APPL Hydrogen Limited (AHL), and LONGi Green Energy Technology Company Limited (LGETCL), a Chinese firm.…
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G20 summit: Nigeria engages global financial leaders in Cape Town
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has participated in the G20 Finance Ministers and Central Bank Governors Meeting in Cape Town, reaffirming Nigeria’s commitment to global economic stability, sustainable development, and financial resilience. During the meeting, Minister engaged in dialogue with global financial leaders, contributing to discussions on strengthening macroeconomic cooperation, mobilizing investments…
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Why Nigeria’s 2024 GDP growth outperformed global institution, experts’ projections – IMPI
The Independent Media and Policy Initiative (IMPI) has described Nigeria’s 2024 Gross Domestic Product (GDP) growth as a fair reflection of the success of President Bola Tinubu’s economic policies. In a statement signed by its Chairman, Dr. Niyi Akinsiju, IMPI noted that the 3.40% full-year growth rate was not surprising, as it exceeded the projections of global institutions and financial…
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Manufacturers laud FG’s tax reforms, urge crackdown on illegal levies
The Manufacturers Association of Nigeria (MAN) has commended the Federal Government for introducing four executive bills aimed at reforming tax administration in the country while calling for an end to the unlawful activities of non-state actors. MAN made the call on Thursday during the second day of the public hearing on the tax bills in Abuja, organised by the House…
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NNPCL remits N264b into Federation Account
Fed, States, councils share N1.7tr January allocation The Nigerian National Petroleum Company Limited (NNPCL) has remitted N264 billion to the Federation Account Allocation Committee (FAAC) to reduce its outstanding debt to the federation. Chairman of the Finance Commissioners Forum, Akin Oyebode, confirmed this in an interview yesterday. Speaking against the background of the FAAC meeting held in Abuja on Monday,…
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FG approves 50% telecom tariff hike to prevent job losses, industry collapse
By Kunle Sanni The federal government has approved a 50% increase in telecom tariffs to prevent job losses and ensure the sustainability of the sector, Minister of Communications and Digital Economy, Bosun Tijjani, announced on Tuesday. Speaking at a press briefing at the State House, Abuja, Tijjani explained that without the tariff adjustment, some telecom companies risked shutting down, leading…
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Tinubu pledges pro-business policies, seeks stronger telecom investments
By Kunle Sanni President Bola Tinubu has reaffirmed his commitment to fostering a pro-business environment in Nigeria, emphasizing the need for policies that attract and protect investors in the telecom sector. Speaking at a meeting with an Airtel delegation led by Chairman Sunil Bharti Mittal at the State House in Abuja on Thursday, Tinubu assured that Nigeria’s telecom regulatory framework…
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NDPC boss reiterates importance of safeguarding digital footprints for Nigerians
The National Commissioner/CEO of the Nigeria Data Protection Commission (NDPC), Dr Vincent Olatunji, on Thursday stressed the importance of safeguarding digital footprints in Nigerian’s daily activities. He stated this when he led a delegation on a strategic visit to the Director General, National Youth Service Corps (NYSC) , Brigadier General YD Ahmed. He provided an overview of Nigeria’s data protection…
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