Economy
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Nigeria’s economy has achieved stability, says Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has disclosed that Nigeria’s economy has achieved relative stability over the past 18 to 20 months. He spoke in Abuja during a Zoom dialogue meeting, according to a report by News Agency of Nigeria (NAN). The Minister also hinted that personal income tax (PIT) payments by wealthy…
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AfDB, Nigeria strengthen ties to drive growth in critical sectors
Nigeria and African Development Bank Group (AfDB) have strengthened ties to further boost economic growth in critical areas such as agriculture, infrastructure, and youth development. A delegation from the AfDB, led by Dr Abdul Kamara, Director General, Nigeria Country Department, met with Coordinating Minister for Finance, Mr. Wale Edun. Dr Kamara announced the launch of a new Country Strategy Paper…
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FG partners with stakeholders to reduce poverty, says Bagudu
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has said that all government agencies, particularly the Ministry of Humanitarian Affairs and Poverty Reduction are working to reduce poverty in Nigeria. He noted that these stakeholders will be mobilised to develop poverty reduction programmes that attract private money and investment. He spoke on Tuesday during the Humanitarian Roundtable in…
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Naira-for-crude oil policy may jeopardise Nigeria’s FX stability, discourage FDI inflows, says DAPPMAN
Oil marketers under the aegis of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) have raised alarm about potential risks linked to the naira-for-crude oil policy of the Federal Government. In a statement, executive secretary of DAPPMAN, Mr. Olufemi Adewole disclosed that the initiative between Nigerian National Petroleum Company Limited (NNPC) and local refineries may jeopardise Nigeria’s foreign…
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MOFI, three other FG’s institutions to fund consumer credit
The Ministry of Finance Incorporated (MOFI), Bank of Industry (BOI), and two other Federal Government-owned institutions are to fund the proposed National Credit Guarantee Company (NCGC). The other two organisations are: Nigeria Sovereign Investment Authority (NSIA) and Nigerian Consumer Credit Corporation(CREDICORP). NCGC, which will be a joint venture by the four institutions, private sector players and multilateral institutions, is expected…
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Finance Minister, CBN Governor brainstorm on implementing Tinubu’s economic reforms
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso held a high-level meeting to brainstorm on the economic reforms being implemented by the administration of President Bola Tinubu. The objective of the meeting is to advance ongoing efforts at strengthening coordination between fiscal and…
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NDPC lunches application, implementation directive on data protection act
In a move to safeguarde the fundamental rights and freedoms of Nigerians in the context of data privacy and protection., the Nigerian Data Protection Commission (NDPC), yesterday in Abuja launched the Nigerian Data Protection Act General Application and Implementation Directive (NDP ACT-GAID), NDPC unveiled NDP ACT-GAID in order to push the country to the frontiers of the 4th Industrial Revolution…
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House of Representatives passes tax reform bill
The House of Representatives on Tuesday passed the four tax reform bills transmitted to the National Assembly in October 2024 by President Bola Tinubu. The House had considered and approved the report of the House Committee on Finance which made some recommendations, particularly in controversial areas such as the Value Added Tax and inheritance tax. While awaiting the Senate to…
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Finance Minister hosts Dangote to enhance private sector drive for economic growth
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun recently hosted the President of the Dangote Group, Alhaji Aliko Dangote, for discussions on enhancing private sector participation as a key driver of economic growth. The Minister reaffirmed President Bola Tinubu’s commitment to creating a business-friendly environment that fosters enterprise growth, attracts investments, and generates jobs. He emphasised…
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Nigeria, Brazil launch $1.1bn Green Imperative Project to improve agriculture
By Kunle Sanni Six years after its initial agreement, the Nigeria-Brazil $1.1 billion Green Imperative Project (GIP) has officially commenced, marking a significant step toward enhancing food security and boosting agricultural productivity in Nigeria. The commercial phase of the project was signed on Monday at the Presidential Villa, Abuja, with Vice President Kashim Shettima affirming that the initiative aligns with…
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