Economy
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Nigeria’s exports to ECOWAS countries stood at N1.18trn in Q4 2024, says NBS
The National Bureau of Statistics (NBS) has disclosed that Nigeria exports to Economic Community of West African States (ECOWAS) member states totalled N1.18 trillion while imports amounted to N77.10 billion. According to NBS report Nigeria’s main trading export partner in Q4, 2024 was Ivory Coast with N756.37 billion worth of goods, followed by exports to Senegal Republic (N236.87 billion), Togo…
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Nigeria signs 3 million tonnes per annum Kebbi cement plant deal, boosts jobs, export
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has described MSM Cement Ltd’s new Kebbi Cement Plant as a significant boost to Nigeria’s industrialization and job creation agenda. Speaking at the signing ceremony for the 3-million-tonne-per-annum facility, Edun emphasized the project’s alignment with President Bola Ahmed Tinubu’s economic vision, highlighting its role in driving private-sector investment,…
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Nigeria’s import grew by 83.24% to N16.59trn in Q4 2024, says NBS
The National Bureau of Statistics (NBS) on Friday disclosed that value of total imports stood at N16.59 trillion in the fourth quarter of 2024, representing a rise of 83.24per cent from N9.05 trillion recorded in the corresponding quarter of 2023. The NBS in its “Foreign Trade in Goods Statistics” (Q4 2024) report noted that China remains Nigeria’s highest trading partner…
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Africa’s economic trajectory in 2025 will depend on strategic policy decisions, says Afreximbank
With global trade tensions, shifting commodity prices, and inflationary dynamics, Afreximbank in a report said Africa’s economic trajectory in 2025 would depend on strategic policy decisions. Afreximbank in its latest research, however, called on governments to focus on stabilizing inflation, ensuring exchange rate stability, and fostering investment-friendly environments to navigate economic uncertainties. The key insights from the February 2025 Afreximbank…
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Nigeria joins European Bank for Reconstruction & Development as 77th member
Nigeria has officially become the 77th member of the European Bank for Reconstruction and Development (EBRD), marking a significant step toward fostering economic growth and attracting foreign investments. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, received Nigeria’s membership certificate from a delegation of the EBRD led by Heike Harmgart, in Abuja. According to the…
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Standard Chartered Bank lauds Tinubu’s economic reforms, explores investment opportunities
A delegation from Standard Chartered Bank has commended President Bola Tinubu led administration bold economic reforms, describing them as “extraordinary”. They stated this during a meeting with Minister of Finance and Coordinating Minister of the Economy, Wale Edun in Abuja. The delegation acknowledged key measures such as the removal of fuel subsidies and market liberalization—once deemed unlikely—while expressing keen interest…
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FG reiterates commitment to climate action, urges global support
The Federal Government has reiterated its commitment to addressing climate change and enhancing climate action for sustainable development. Minister of Budget and Economic Planning, Senator Abubakar Bagudu, disclosed this during the courtesy visit of the United Nations Executive Secretary on Climate Change, Mr Simon Stiell, to the ministry on Wednesday. Bagudu thanked the UNFCCC and other development partners for their…
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TCN expands transmission capacity, targets 10,000MW evacuation
By Kunle Sanni The Transmission Company of Nigeria (TCN) has announced a significant boost in its transmission capacity, with plans to efficiently evacuate 10,000 megawatts (MW) of electricity within the next two years. Speaking at the State House Weekly Briefing, TCN’s Managing Director, Sule Abdulaziz, attributed the progress to sustained government support through the Ministry of Power and the Renewed…
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Nigeria’s power generation crosses 5,800 MW, says TCN
The Transmission Company of Nigeria (TCN) has confirmed that Nigeria’s electricity sector has recorded a new milestone, reaching a peak power generation of 5,801.84 megawatts (MW) and a maximum daily energy generation of 128,370.75 megawatt-hours (MWh)—the highest ever attained in the country’s history. TCN stated that this feat was achieved on March 4, 2025, at 21:15 hours, with a stable…
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Foreign investors participation lifts Nigerian Eurobonds’ February rally
Nigeria’s Eurobond market closed the month of February 2025 in positive territory, signalling sustained foreign investor confidence. According to data from the Debt Management Office (DMO), the average yield on Nigeria’s Eurobonds closed at 8.80 per cent, 41 basis points down from 9.21 per cent at the beginning of February, a signal of strong investor appetite. In the Sub-Saharan African…
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