Economy
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New tax laws will drive Nigeria’s economic growth — Tinubu
By Kunle Sanni – President Bola Tinubu on Thursday described the newly signed four tax reform bills as essential to Nigeria’s future prosperity. “What we did a few minutes ago is the way forward for our country’s prosperity. Leadership must help people take off, lead the way, and navigate every turn and twist,” Tinubu said shortly after signing the bills…
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Nigeria Customs driving trade transformation in Africa, says Okonjo-Iweala
The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has commended the Nigeria Customs Service (NCS) for its significant progress in customs modernisation and trade facilitation. She gave the commendation during the opening of the 145th/146th Sessions of the Customs Co-operation Council held on Thursday, June 26, 2025, at the World Customs Organisation (WCO) Headquarters in Brussels. Delivering…
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Nigeria, Egypt led other Africa countries in $95bn remittances inflows in 2024, says report
Africa Finance Corporation (AFC) has revealed that Africa received over $95 billion in remittances in 2024, with Nigeria, Egypt, and Morocco leading as top recipients. AFC in its report titled ” State of Africa’s Infrastructure Report 2025″, stated that the inflow nearly matched total foreign direct investment (FDI) into the continent that year, underscoring the rising significance of diaspora contributions…
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Nigeria, others rank top poorest African countries by GDP per capita in 2025
Nigeria, and other African countries have been ranked among the poorest countries in the world by Gross Domestic Product (GDP) per Capita in 2025. According to 2025 estimates from the International Monetary Fund, South Sudan ranks as the poorest country in the world, with a GDP per capita of just $251. GDP per capita offers more than just a snapshot…
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Tinubu hosts Danish Queen, seeks collaboration on agriculture, education
By Kunle Sanni – President Bola Tinubu on Tuesday welcomed Queen Mary Elizabeth of Denmark to the Presidential Villa in Abuja, seeking stronger ties between Nigeria and Denmark in livestock development, sustainable agriculture, and education. The Danish monarch, visiting Nigeria for the first time as a Patron of the United Nations Population Fund (UNFPA), was accompanied by Nigeria’s First Lady,…
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‘Nigeria, Brazil partnership is model for South-South economic growth’ — Shettima
By Kunle Sanni – Vice President Kashim Shettima has affirmed that Nigeria and Brazil are united by a common heritage and shared aspirations, as he declared open the second session of the Nigeria-Brazil Strategic Dialogue in Abuja on Tuesday. Welcoming Brazil’s Vice President, Geraldo Alckmin, and his delegation, Shettima described the relationship between both countries as a model for South-South…
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Nigeria, Brazil launch partnership to transform livestock sector
By Kunle Sanni – Nigeria’s livestock sector is poised for transformation under President Bola Tinubu’s Renewed Hope Agenda, with over two billion poultry birds and millions of cattle, goats, sheep, and pigs set to benefit from a new strategic partnership with Brazil. The Minister of Livestock Development, Idi Mukhtar Maiha, disclosed the plan on Tuesday during the Nigeria-Brazil Strategic Dialogue…
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BLOOMBERG: Wilmar acquires PZ’s palm oil business in Nigeria for $70m as currency crisis eases
By Emele Onu – Wilmar International plans to boost its palm oil business in Nigeria, attracted by policies that have stabilised the naira and increased dollar availability. The company has announced a $70 million acquisition of a palm oil venture and acquired 8,500 hectares of old rubber plantations to grow palm oil crops. Nigeria has a palm oil supply gap…
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Nigeria’s revenue increases by 40% to N6.9trn in Q1 2025, says Wale Edun
Minister of Finance and Coordinating Minister for the Economy, Wale Edun has said Nigeria recorded N6.9 trillion in revenue in the first quarter (Q1) of 2025. Edun spoke on Monday at the citizens and stakeholders’ engagement on the implementation of President Bola Tinubu’s priorities for the second quarter (Q2) in Abuja. He said the figure represents a 40 per cent…
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At AU MSME Forum, Shettima urges integration of Africa’s informal economy
By Kunle Sanni – Vice President Kashim Shettima has urged African countries to prioritise the integration of the continent’s vast informal sector into formal intra-African trade frameworks, describing it as critical to unlocking sustainable prosperity for millions. Speaking in Abuja on Monday at the opening of the 4th African Union Micro, Small and Medium Enterprises (MSMEs) Forum, Shettima warned that…
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