Economy
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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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At 25.76%, Ekiti, Ogun with highest inflation rate in South West, says NBS
A report by the National Bureau of Statistics (NBS) on Monday disclosed that Ekiti and Ogun states with 25.76 per cent year-on-year (YoY) growth each in February 2025 have the highest inflation rate among other states in the South West region of Nigeria. The report by NBS disclosed that Nigeria’s inflation rate dropped to 23.18per cent in February 2025 from…
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UPDATED: Nigeria’s inflation rate drops to 23.18% in February, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that based on the rebased Consumer Price Index (CPI), Nigeria’s headline inflation rate slowed by 130 basis points to 23.18per cent in February 2025 from 24.48 per cent recorded January: 2025. The CPI report by NBS stated that on a month-on-month basis, consumer prices fell to 2.04per cent in February 2025…
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BREAKING: Nigeria’s inflation rate drops to 23.18% in February, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that based on the rebased Consumer Price Index (CPI), Nigeria’s headline inflation slowed by 130 basis points to 23.18per cent in February 2025 from 24.48 per cent recorded January: 2025. The CPI report by NBS stated that on a month-on-month basis, consumer prices fell to 2.04per cent in February 2025 from…
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Reps recover $19.2m owed to FG by two oil firms
The house of representatives, through its public accounts committee (PAC), has recovered $19.2million or approximately N28.8 billion from two oil companies indebted to the federation government. The spokesperson of the house, Mr. Akin Rotimi in a statement on Sunday described the recovery as a major breakthrough in the ongoing efforts to recover outstanding revenues accruing to the federation account. Rotimi…
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Nigeria seeks global investment to unlock energy potential – Edun
Nigeria is positioning itself as a key player in the global energy market as it seeks to harness its vast energy potential and expand access to electricity, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. Speaking at the Sustainable Energy for All (SEforALL) Forum in Bridgetown, Barbados, Edun called on global investors to partner…
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Nigeria’s economic growth to hit 3.6% in 2025, says Afreximbank
Nigeria’s economy is expected to grow at a faster pace, with real Gross Domestic Product (GDP) projected to rise from three per cent in 2024 to 3.6per cent in 2025, according to new projections by Afreximbank Trade Intelligence Solutions. The country’s economic expansion will be supported by increasing fuel production at the Dangote Petroleum & Petrochemicals refinery, declining inflation, and…
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Customs boss assures Gov. Bago of intervention on Niger’s agro programmes
The Comptroller-General of Customs (CGC), Adewale Adeniyi, has assured the Niger State Government of the Nigeria Customs Service’s (NCS) commitment to supporting agricultural development and strengthening border security. The CGC made this known recently when he received the Governor of Niger State, Umaru Bago, on a courtesy visit at the Customs Headquarters in Abuja. Welcoming the governor, CGC Adeniyi commended…
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