Economy
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FG approves 50% telecom tariff hike to prevent job losses, industry collapse
By Kunle Sanni The federal government has approved a 50% increase in telecom tariffs to prevent job losses and ensure the sustainability of the sector, Minister of Communications and Digital Economy, Bosun Tijjani, announced on Tuesday. Speaking at a press briefing at the State House, Abuja, Tijjani explained that without the tariff adjustment, some telecom companies risked shutting down, leading…
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Tinubu pledges pro-business policies, seeks stronger telecom investments
By Kunle Sanni President Bola Tinubu has reaffirmed his commitment to fostering a pro-business environment in Nigeria, emphasizing the need for policies that attract and protect investors in the telecom sector. Speaking at a meeting with an Airtel delegation led by Chairman Sunil Bharti Mittal at the State House in Abuja on Thursday, Tinubu assured that Nigeria’s telecom regulatory framework…
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NDPC boss reiterates importance of safeguarding digital footprints for Nigerians
The National Commissioner/CEO of the Nigeria Data Protection Commission (NDPC), Dr Vincent Olatunji, on Thursday stressed the importance of safeguarding digital footprints in Nigerian’s daily activities. He stated this when he led a delegation on a strategic visit to the Director General, National Youth Service Corps (NYSC) , Brigadier General YD Ahmed. He provided an overview of Nigeria’s data protection…
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FG’s subsidy removal, other reforms lift Nigeria’s 3.84% economic growth in 2024, says NESG
The Nigerian Economic Summit Group (NESG) has attributed Nigeria’s 3.8 per cent growth in Gross Domestic Product (GDP) in the fourth quarter of (Q4) 2024 to the gains from the Federal Government’s subsidy removal, among other reforms. The latest GDP data released by the National Bureau of Statistics (NBS) shows a 3.84per cent year-on-year GDP growth in Q4 2024. The…
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Komolafe: Nigeria’s crude oil production potential now 2.24m barrels per day
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says the country’s technical potential for crude oil production stands at 2.24 million barrels per day. Gbenga Komolafe, chief executive officer (CEO) of NUPRC, spoke on Wednesday in Abuja at the ongoing 2025 Nigeria International Energy Summit (NIES). Speaking on optimizing production and bridging the gap, the NUPRC boss said Nigeria’s vast oil…
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Customs, stakeholders strategise to combat money laundering
The Federal Capital Territory (FCT) Command of the Nigeria Customs Service has intensified efforts to tackle money laundering at Nnamdi Azikiwe International Airport, Abuja, by bringing together key government agencies in a high-level stakeholders’ meeting. The meeting, chaired by the Customs Area Controller, Comptroller Olumide Adebisi, recently aimed at developing a coordinated approach to mitigate illicit financial flows through the…
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MAN’s confidence index reflects a steadily recovering economy – TSF
The Tinubu Stakeholders Forum (TSF) welcomes the recent release of the Manufacturers Association of Nigeria (MAN) Confidence Index for Q4 2024, which rose to 50.7 points, reflecting a moderate improvement in the confidence of CEOs in the manufacturing sector. In a statement signed by its Chairman Ahmad Sajoh and Secretary Afolabi Josiah, it argued that this signifies the resilience of…
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3.84% GDP growth in Q4 2024 is a testament to Nigeria’s economy resilience, says Wale Edun
The Minister of finance and coordinating minister of the economy, Mr. Wale Edun stated that Nigeria’s latest gross domestic product (GDP) growth figures are a testament to the resilience of the economy and the success of President Bola Tinubu’s Renewed Hope Agenda. The National Bureau of Statistics (NBS) said Nigeria’s GDP rate expanded by 3.84 per cent in the fourth…
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OPEC chief urges Africa to unlock 120 billion barrels of oil reserves and disregard ‘misguided policies’
The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, has urged African countries to unlock the continent’s oil reserves of over 120 billion barrels through increased investment. Al-Ghais made the call on Tuesday while speaking at the ongoing Nigeria International Energy Summit (NIES) 2025 in Abuja, where he delivered a keynote address and participated in a…
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BREAKING: Nigeria’s real GDP grew by 3.84% in Q4 2024, says NBS
The National Bureau of Statistics (NBS) on Tuesday disclosed that Nigeria’s economy maintained its growth momentum in Q42024, with real Gross Domestic Product (GDP) growing by 3.84 per cent from 3.46 per cent in Q3 2024. According to NBS, based on the GDP breakdown provided, the oil sector grew by 1.48per cent in Q4 2024 (Q3 2024: +5.17per cent). According…
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