Economy
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FG confirms Saudi Arabia’s additional $1.2bn investment in livestock sector
The Federal Government has confirmed Saudi Arabia’s SALIC International Investment Company’s acquisition of a 35.43per cent stake in Olam Agri Holdings for a substantial $1.24 billion, marking a significant boost to Nigeria’s agricultural and livestock sector. Minister of Finance Wale Edun made this announcement following a meeting with President Bola Tinubu in Lagos, emphasizing the administration’s commitment to fostering a…
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President Tinubu’s economic diplomacy delivering results – Finance Minister
By Kunle Sanni Nigeria’s economic diplomacy under President Bola Tinubu is yielding tangible results, according to Wale Edun, Minister of Finance and Coordinating Minister of the Economy. Speaking to journalists in Lagos on Sunday after a meeting with the President, Edun highlighted Tinubu’s proactive engagements with global leaders and institutions as instrumental in driving foreign investments and fostering economic partnerships.…
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Debt to IMF : Nigeria missing among top African countries in 2024
As several African nations continue to grapple with economic instability, many have turned to the International Monetary Fund (IMF) for financial assistance, resulting in significant debt obligations. These loans, while intended to stabilize economies, often come with stringent conditions that can hinder long-term development. The latest data, updated on December 23, 2024, reveals the African countries with the highest outstanding…
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Waziri Adio questions FG over 2025 proposed budget provisions
A respected public policy analyst, Waziri Adio has questioned a number of provisions in the proposed 2025 budget of the federal government. Writing in his weekly column in THISDAY on Sunday, Adio, who is the founder and executive director of Agora Policy think tank, described some budgetary provisions as “curious”. “One glaring example is the plan to transfer N146.14 billion…
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Tinubu’s economic policies will yield positive results in 2025, says Oyintiloye
By Deborah Oladejo, Osogbo A chieftain of the All Progressives Congress (APC) in Osun State, Hon. Olatunbosun Oyintiloye, has expressed optimism about President Bola Tinubu’s economic policies, predicting they will yield significant positive results in 2025. Speaking with journalists on Sunday in Osogbo, Oyintiloye, a member of the defunct APC Presidential Campaign Council, acknowledged the temporary hardships brought about by…
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FG’s 52% non-debt expenditure in 2025 budget to boost economic growth, says Adelabu
Minister of Power, Mr. Bayo Adelabu has expressed that the Federal Government is determined to boost economic growth in 2025, with 52per cent of non-debt expenditure devoted to capital projects. He noted that the FG’s approval of a 2025 budget totaling N47 trillion, with N16 trillion allocated to capital expenditure, is a significant economic policy decision. The Former Deputy Governor,…
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Nigeria, China renew N3.28trn currency swap agreement
China’s central bank on Friday revealed that it has renewed a bilateral currency swap agreement with the Central Bank of Nigeria (CBN) as part of efforts to boost trade between both countries. The total value of the agreement was N3.28 trillion (15 billion yuan or about $2.09 billion), China’s Xinhua News quoted the People’s Bank of China to have revealed…
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Nigeria, Saudi Arabia to explore opportunities in infrastructure, economic development
The Nigeria government has deepened economic ties with Saudi Arabia targeted at boosting infrastructure and economic development The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun representing President Bola Tinubu and the Presidential Economic Coordination Council, led a delegation to Riyadh to strengthen economic cooperation between Nigeria and Saudi Arabia. During the visit, the delegation engaged…
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FG approves posting of Treasury officers
The Federal Government has approved the posting of directorate level treasury officers with immediate effect towards enhancing effective service delivery. A total of 21 officers were approved for posting, according to memo obtained by WESTERN POST. The Accountant-General of the federation, Dr. Oluwatoyin Madein in a signed statement, said “II want to further reiterate that all officers are to note…
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Edun unveils N50trn budget plan for 2025, as Nigeria focuses on strategic investments
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has unveiled a comprehensive plan to drive Nigeria’s economic growth and poverty reduction. The plan includes a N50 trillion budget for 2025, with a focus on strategic investments and robust reforms. The Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga in a statement stated…
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