Economy
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Telecos 50% tariff increase must result in significant service improvements, says FCCPC
The Federal Competition and Consumer Protection Commission (FCCPC) on Wednesday stated that the Nigerian Communications Commission (NCC) 50 per cent tariff increase for telecommunications operators must result in significant service improvements. The Commission said it acknowledged the economic pressures faced by telecos operators, including increasing operational costs, and unequivocally state that consumer interests remain paramount. FCCPC in a responding to…
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FRC insists Nigeria not yet hyperinflation economy
The Financial Reporting Council of Nigeria (FRC) on Wednesday pointed out that Nigeria was not yet a hyperinflation economy. Owing to this, the Council, in a press statement signed by its Executive Secretary/Chief Executive Officer, Dr. Rabiu Olowo, noted that the International Accounting Standard (IAS) 29 which borders on Financial Reporting in Hyperinflationary Economies should not be applied in the…
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Nigeria’s public debt increases to N142.3trn in Q3 2024, says DMO
Nigeria’s total public debt rose to N142.3 trillion as of September 30, 2024, representing an increase of 5.97per cent or N8.02 trillion compared to N134.3 trillion in June 2024. This is according to the latest data released by the Debt Management Office (DMO). Data from the DMO showed that Nigeria’s external debt in dollar terms grew marginally by 0.29pe cent,…
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Shettima engages Botswana’s President, WTO DG to strengthen African cooperation
By Kunle Sanni Vice President Kashim Shettima and President Duma Boko of Botswana convened a bilateral meeting on Tuesday, focusing on areas of mutual interest and reinforcing their commitment to strengthening partnerships across Africa, the presidency has announced. According to a statement by Stanley Nkwocha, spokesperson to the Vice President, the discussion took place on the sidelines of the ongoing…
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WEF 2025: Shettima urges global leaders to discard outdated stereotype about Africa
By Kunle Sanni Vice President Kashim Shettima has urged global leaders and investors to discard outdated stereotypes about Africa and recognize the continent as a hub of limitless potential. Speaking at the ongoing 2025 World Economic Forum (WEF) in Davos, Switzerland, the Vice President declared that Africa is “waking up from its slumber” and is ready to drive global economic…
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NDPC unveils DPOs to address human capital development in Nigeria
With the motive to address human capital development, the Nigeria Data Protection Commission (NDPC) has unveiled the National Certification Program for Data Protection Officers (DPOs) in Nigeria. This milestone achievement was unveiled by the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani. The initiative aligns with NDPC’s strategic roadmap for human capital development and underscores efforts to domesticate…
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2025 budget: Reforms, fiscal gains signal Nigeria’s economic recovery, says Edun
Nigeria’s economy is making significant strides in recovery and growth, as highlighted by the Minister of Finance & Coordinating Minister of the Economy, Mr. Wale Edun, during his 2025 budget defence before the Senate Committee on Finance. The Minister was joined by the Minister of State for Finance, Dr. Doris Uzoka-Anite, the Permanent Secretary of the Federal Ministry of Finance,…
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Nigeria seeks global mining partnerships to boost economy growth, promote investment
In its avowed determination to revitalize the nation’s economy, the Federal Government has expressed its commitment to fostering strategic global mining partnerships that drive economic growth, promote investment, and encourage innovation. The Minister of State Finance, Dr. Doris Uzoka-Anite led the charge at the Future Minerals Forum (FMF) in Riyadh, Saudi Arabia, where she showcased Nigeria’s vast resource wealth and…
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Tinubunomics: Nigeria’s economic momentum in 2025 will set new record, says IMPI
The Independent Media and Policy Initiative (IMPI) stated that there are enough evidence to show that the economic policies of the President Bola Tinubu administration will set new records in 2025. In a policy statement signed by its Chairman, Dr Niyi Akinsiju, IMPI explained that it came to that conclusion after a fundamental analysis of the emerging pattern of the…
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Fuel subsidy removal drives FAAC allocation to N3.2trn, says Presidency
The removal of the fuel subsidy by President Bola Tinubu’s administration has significantly increased the revenue shared among the federal, state, and local governments, rising from N760 billion in 2023 to N3.2 trillion in 2024. This was disclosed by, Special Adviser, Media & Public Affairs to the President, Sunday Dare during an interview on Arise Television’s Prime Time on Thursday…
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