Economy
-
PHOTO NEWS: African statesmen, business leaders converge on Abuja for 32nd Afreximbank AGM
Statesmen and business leaders from across Africa and the Caribbean converged on the Transcorp Hilton, Abuja, for the 32nd Annual General Meeting of the African Export-Import Bank (Afreximbank). Prominent leaders in attendance included former Presidents Olusegun Obasanjo (Nigeria), Macky Sall (Senegal), Mahamadou Issoufou (Niger), and Nana Akufo-Addo (Ghana). Africa’s richest man, Aliko Dangote, UBA Chairman Tony Elumelu, and former Senate…
Read More » -
BREAKING: Nigeria’s public debt grows by 22.8% YoY N149.39trn in Q1 2025, says DMO
Debt Management Office (DMO) has revealed that Nigeria’s total public debt rose to N149.39 trillion as of March 31, 2025, marking a year-on-year increase of N27.72 trillion or 22.8per cent when compared to the N121.67 trillion recorded in the corresponding period of 2024. The latest figures from the DMO also indicate a quarter-on-quarter increase of N4.72 trillion or 3.3 per…
Read More » -
Nigeria secures over $52bn support from Afreximbank — Tinubu
By Kunle Sanni – President Bola Tinubu on Friday announced that Nigeria has secured over $52 billion in support from the African Export-Import Bank (Afreximbank), describing the partnership as a cornerstone of the country’s economic progress and a symbol of renewed confidence in Nigeria’s future. Delivering his keynote address at the 32nd Afreximbank Annual Meetings in Abuja, the President highlighted…
Read More » -
New tax reforms will ease inflation, spur investments — Otedola, LCCI
Billionaire businessman Femi Otedola has expressed renewed confidence in Nigeria’s economy, declaring his intention to increase investments following the signing of the new Tax Reform Act by President Bola Tinubu. Otedola described the new laws as a bold and necessary step toward creating a more transparent, efficient, and investor-friendly economy. He said the reforms would simplify taxation, promote fairness, and…
Read More » -
Tinubu confers GCON on Afreximbank President Oramah
…lauds $52bn investment in Nigeria By Kunle Sanni – President Bola Tinubu has conferred the national honour of Grand Commander of the Order of the Niger (GCON) on Professor Benedict Oramah, outgoing President and Chairman of the African Export-Import Bank (Afreximbank), in recognition of his contributions to Africa’s development and Nigeria’s economic growth. The announcement was made on Friday at…
Read More » -
PHOTO NEWS: Cardoso hosts counterpart from Malawi
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Friday, hosted as delegation from the Central Bank of Malawi (CBM), led by the Governor, Dr. MacDonald Mwale, at the CBN Head Office in Abuja. The apex Nigeria bank on X said the visit provided an opportunity for strategic dialogue on monetary policy coordination, knowledge exchange, and…
Read More » -
Nigeria, Rwanda sign double taxation treaty to spur cross-border integration
Nigeria and the Republic of Rwanda on Friday signed a landmark agreement on the Avoidance of double taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, reinforcing their shared commitment to deepening economic cooperation and facilitating private sector-led growth across Africa. The high-level signing ceremony, held in Abuja, was presided over by the Minister of Finance…
Read More » -
PHOTO NEWS: Wale Edun hosts executive secretary of UN economic commission for Africa
On the sidelines of #AAM, Finance and Coordinating Minister for the Economy, Mr. Wale Edun on Friday hosted the USG and Executive Secretary of the UN Economic Commission for Africa Mr. Claver Gatete. According to a tweet on X, their discussions focused on: effective policy implementation, tax rationalization for DRM, digitizing revenue/expenditure, derisking investment, macroeconomic modeling & knowledge sharing. The…
Read More » -
Nigeria, Saudi Arabia Customs sign joint efforts agreement in investigations, others
In a major diplomatic stride in alignment with Customs-to-Customs cooperation, the Nigeria Customs Service (NCS) and the Zakat, Tax and Customs Authority of the Kingdom of Saudi Arabia have signed a bilateral agreement on cooperation and mutual assistance in customs matters. Under the terms of the agreement, both parties will support each other through joint efforts in investigations, data exchange,…
Read More » -
Extreme poverty is rising fast in economies hit by conflict, instability, says World Bank
The World Bank has said conflict and instability are taking a devastating toll on the 39 economies afflicted by them, driving up extreme poverty faster than anywhere else, intensifying acute hunger, and pushing several key development goals farther out of reach. The World Bank said it is the first comprehensive assessment of their plight in the aftermath of COVID-19. The report stated…
Read More »
