Economy
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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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FG to establish more gemstone, jewellery centres nationwide
The Federal Government has reaffirmed its commitment to establishing more gemstone and jewellery-making centres across the country to enhance entrepreneurship in the mining industry and promote local value addition. Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this during a tour of the Laurel School of Mining in Abuja. He commended the centre for its leadership in training jewellery…
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WTO warns of global trade impact, economic growth prospects from US tariffs
The World Trade Organisation (WTO) has said the measures announced by the United States will have substantial implications for world trade and economic growth prospects. WTO also noted that the new policy could lead to an overall contraction of around one per cent in global merchandise trade volumes in 2025. This was according to a statement by Director-General of the…
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NFIU puts mechanisms in place to monitor LGAs fund disbursement, says Bakari
The Director/CEO of Nigerian Financial Intelligence Unit (NFIU), Hafsat Bakari, on Thursday expressed that the government agency has put in place mechanisms to monitor funds disbursement to local government areas (LGAs) following the Supreme court judgement affirming direct allocation to the council areas. In a landmark ruling aimed at promoting transparency and accountability in the administration of public funds, the…
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Nigeria’s domestic $917m bond issue wins 2024 West Africa deal award
Nigeria’s first-ever domestic US dollar bond has been named West Africa Deal of the Year at the 2025 Global Banking & Markets Africa Awards, following a highly successful issuance that raised $917 million. Announced by the Debt Management Office (DMO) on August 19, 2024, the bond initially targeted $500 million but was oversubscribed by 180%. With a five-year tenor, it…
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