Economy
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Tinubu urges ECOWAS to prioritise production over consumption
President Bola Tinubu on Thursday reaffirmed Nigeria’s commitment to regional integration, peace and economic cooperation as the Economic Community of West African States (ECOWAS) inaugurated its new headquarters in Abuja. Represented by Vice President Kashim Shettima at the commissioning ceremony, Tinubu described the new ECOWAS complex as a symbol of the bloc’s renewed commitment to unity, resilience and shared prosperity…
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NASENI calls for stronger research to accelerate innovation, economic growth
The National Agency for Science and Engineering Infrastructure (NASENI) has called for stronger research efforts to accelerate innovation and drive economic growth, urging researchers to intensify work that will deliver technological breakthroughs and support Nigeria’s industrial development. The Director of the Nano Science Department, Dr. Chika Ezeanyanaso, made the call while declaring open the NASENI Hybrid Scientific Engagement Programme: Science…
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In Hamburg, Bagudu promotes Nigeria as Africa’s most attractive investment destination
President Bola Tinubu’s economic reforms have positioned Nigeria as Africa’s most attractive investment destination, according to Minister of Budget and Economic Planning Senator Abubakar Bagudu. The minister responsible for the nation’s bilateral relations spoke at the Third Hamburg Sustainability Conference in Hamburg, Germany, explaining that the macroeconomic stability achieved through the reforms has made Nigeria attractive for long-term investment across…
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FG appoints Kuramo Capital to manage $170m startup investment fund
The federal government has appointed Kuramo Capital Management as fund manager for the $170 million DICE Fund of Funds under the Investment in Digital and Creative Enterprises (iDICE) Programme, in what the Presidency describes as Africa’s largest government-backed investment in technology and creative startups. The agreement was signed in Abuja on Tuesday between the Managing Director of the Bank of…
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PHOTO NEWS: Shettima inaugurates Jigawa Investment Summit 2026, woos investors
Vice President Kashim Shettima on Wednesday declared the Jigawa Investment Summit 2026 open, urging local and foreign investors to take advantage of the state’s vast economic potential and the Federal Government’s ongoing reforms to improve the ease of doing business in Nigeria. The summit, held at the Government House Banquet Hall in Dutse, brought together top government officials, captains of…
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NCX, Jigawa govt, REA sign MoU to drive agro-industrial development
The Nigeria Commodity Exchange (NCX), the Jigawa State Government and the Rural Electrification Agency (REA) have signed a tripartite Memorandum of Understanding (MoU) aimed at accelerating agricultural industrialisation, improving food security and modernising Nigeria’s commodity trading ecosystem. The agreement was signed at the Jigawa Investment Summit held at the Government House Banquet Hall in Dutse. The Chairman of the Nigeria…
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FG slashes Customs duty on imported vehicles, reduces levies by 67%
The Federal Government has implemented a new tariff regime that significantly reduces Customs levies on imported vehicles, cutting import charges on new vehicles by 50 per cent and on used vehicles by about 67 per cent. The revised tariff structure, which took effect on July 1, forms part of the Federal Government’s 2026 fiscal policy measures aimed at lowering the…
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Nigeria has moved from economic decline to stability, focus now on accelerating inclusive growth, says Oyedele
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has said Nigeria has successfully navigated the most difficult phase of its economic reforms and is now focused on accelerating broad-based and inclusive growth that delivers tangible benefits to citizens and businesses. Speaking at the Nigeria Employers’ Summit 2026 organised by the Nigeria Employers’ Consultative Association (NECA)…
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At 55th globally rating, Nigeria tops Africa in IMD economic performance
Nigeria emerged as the highest-performing African economy on the economic performance pillar of the International Institute for Management Development (IMD) World Competitiveness Ranking 2026, outperforming five other African countries assessed in the report. The IMD report, which evaluated 70 economies across economic performance, government efficiency, business efficiency and infrastructure, ranked Nigeria 55th globally on economic performance with a score of…
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World Bank approves $1.25bn loan to Nigeria
The World Bank has approved a $1.25 billion Development Policy Financing loan for Nigeria despite widespread public criticism over the country’s rising debt profile, as it unveiled a new six-year partnership strategy aimed at accelerating private sector-led growth and job creation. The lender announced on Wednesday that its Board had approved the Nigeria Actions for Investment and Jobs Acceleration Development…
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