Economy
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AAM2025 to drive discussions on trade financing, investment opportunities across Africa, says Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, stated that hosting the 2025 Afreximbank Annual Meetings (AAM2025) in Abuja will serve as a critical platform to drive discussions on trade financing, economic growth, and investment opportunities across Africa.. He added that the event *is a testament to our commitment to strengthening Africa’s financial sector and…
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VP Shettima inaugurates presidential committee to bridge financial gaps, drive trillion-dollar economy
By Kunle Sanni Vice President Kashim Shettima has reaffirmed President Bola Tinubu’s commitment to economic reforms aimed at fostering inclusive growth and bridging financial gaps nationwide. Speaking at the State House Banquet Hall on Monday, Shettima inaugurated the Presidential Committee on Economic and Financial Inclusion (PreCEFI) as part of the federal government’s strategy to achieve a trillion-dollar economy by 2030.…
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FG unveils 2025 roadmap to accelerate Nigeria’s economic diversification, global competitiveness
The Federal Ministry of Industry, Trade, and Investment (FMITI) on Monday in Abuja has set a bold course for 2025, unveiling a strategic roadmap to accelerate Nigeria’s economic diversification, industrialization, and global competitiveness. At a high-level retreat in Abuja, the Honourable Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, emphasized the Ministry’s commitment to building a dynamic, resilient, and…
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FG reaffirms commitment to youth empowerment, economic growth
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reiterated the Federal Government’s dedication to economic stability, investment, and youth empowerment. He stated this on Monday during a courtesy visit by the Arewa Youth Forum (AYF). Leading the delegation, National President Ahmed Mohammed Zagi commended the Ministry’s achievements under President Bola Tinubu’s administration, particularly in job…
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FG mulls plan to utilise capital market to fund infrastructure
The Federal Government is considering alternative funding for infrastructure through the capital market by use of Public-Private Partnerships (PPP). The government is making the arrangement in collaboration with the International Finance Corporation (IFC), a subsidiary of the World Bank. Projects being targeted are roads, rails, ports and Information Technology (IT). Others are in the health, education, transport and agriculture sectors.…
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Wale Edun reaffirms FG’s commitment to private sector-led economic growth
The Minister of Finance & Coordinating Minister of the Economy, Wale Edun recently reaffirmed the Federal Government commitment to private sector-led economic growth. Speaking at a World Bank event, Edun praised the International Finance Corporation’s (IFC) role in supporting agriculture, infrastructure, and energy, stressing that such partnerships are vital for economic stability and job creation. He noted that recent reforms,…
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Saraki raises concerns over Customs moves to implement 4% FOB levy
Former senate president, Bukola Saraki has raised concerns over the implementation of the per cent free-on-board (FOB) levy introduced by the Nigeria Customs Service (NCS). The national public relations officer, NCS, Abdullahi Maiwada, had revealed in a statement that the government agency has begun implementing a four per cent charge on the FOB value of imports. He explained that the…
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IFC signs $50m deal with LFZ to drive economic diversification, industrial growth
The International Finance Corporation (IFC) on Friday signed an equity investment deal of $50 million with the Lagos Free Zone Company (LFZ) to support Nigeria’s industrial growth and economic diversification. The IFC regional director, Central Africa and Anglophone West Africa, Dahlia Khalifa spoke during the official signing in Lagos, said the investment was to support the development and expansion of…
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Despite challenges, Nigeria remains Africa’s largest economy by GDP, says World Bank
The World Bank’s Country Director for Nigeria, Dr. Ndiame Diop, has confirmed that Nigeria remains the largest economy in Africa by Gross Domestic Product (GDP) despite the challenges faced by its private sector. Speaking at the Country Private Sector Diagnostic (CPSD) and Stakeholder Engagement in Abuja on Thursday, Dr. Diop stated that while Nigeria receives far less Foreign Direct Investment…
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Power sector privatisation in 2013 has not yielded expected results, says MAN DG
The Director-general of the Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi-Kadir, says the Generating companies (GenCos) and Distribution firms (DisCos) privatisation in 2013 has not yielded the expected results. He, however, called for an audit of investment in the industry. Ajayi-Kadir spoke in a statement said the “frequent” increase in electricity tariffs, which he said is hindering the performance…
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