Economy
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World Bank projects 3.5% GDP growth for Nigeria in 2025
The World Bank has forecasted that Nigeria’s economy will grow by 3.5 per cent in 2025 and rise slightly to 3.7 per cent in 2026. This projection, contained in the latest Global Economic Prospects report, reflects a modest recovery for the nation amidst persistent economic challenges and global uncertainties. According to the report, Nigeria’s economic growth improved to an estimated…
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FG moves to address food export irregularities, to unlock healthcare value chain
The Federal Ministry of Industry, Trade, and Investment (FMITI) and the Ministry of Health and Social Welfare have collaborated to tackle irregularities in the food export system and unlock the healthcare value chain for effective transformation. Director, Press & Public Relations, Federal Ministry of Industry Trade and Investment, Dr Adebayo Thomas in a statement stated that this development was announced…
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Nigeria’s headline inflation increases to 34.80% in December 2024, says NBS
Nigeria’s headline inflation rate jumped to 34.80per cent in December 2024 from 34.60per cent in November 2024, the National Bureau of Statistics (NBS) said Wednesday. The apex government data agency made this known in its latest Consumer Price Index (CPI) report which measures the rate of change in prices of goods and services. The December 2024 headline inflation rate showed…
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Tax reform: FG intensifies community engagement to drive acceptance
The Federal Government has unveiled plans to embark on a nationwide community engagement campaign to foster understanding and acceptance of the tax reform bills currently before the National Assembly. Chief of Staff to the Executive Chairman of the Federal Inland Revenue Service, Tayo Koleosho disclosed this during a media roundtable discussion in Abuja on Tuesday. Koleosho explained that the initiative…
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Uzoka-Anite lauds retirees at Finance Ministry for contributing to Nigeria’s economic growth, development
In a heartfelt ceremony that bids farewell to a number of workers, the Federal Ministry of Finance on Tuesday gathered to pay tribute to its retirees, celebrating their years of dedicated service and invaluable contributions to Nigeria’s economic growth and development. The Director, Information and Public Relations, Ministry of finance, Mohammed Manga in a signed statement quoted the Minister of…
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FIRS Boss expresses confidence in National Assembly passing tax reform bills
The Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has expressed confidence that the National Assembly will pass thee tax reform bills into law this year, stressing that the ongoing consultations with critical stakeholders on the tax reform bills were yielding positive results. He stated this while speaking with journalists after the Federal Government delegation on the tax…
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How we’ll achieve 2025 revenue targets – Bagudu
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has explained how the current administration plans to realise its projected income, expressing confidence that the Federal Government will achieve its N36.35 trillion 2025 revenue target. The minister spoke at the National Assembly Joint Committees on Finance hearing on the 2025 Appropriation Bill and expressed confidence in the anticipated gains…
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Edun pushes for bold reforms, smarter investments
Minister of finance, Mr. Wale Edun has pushed for bold reforms and smarter investments at the Islamic Development Bank (IsDB) Governors’ Retreat Edun decisive call for action IsDB Governors’ Retreat in Al-Madinah on Sunday, was part of the bank’s ongoing efforts to gather input and build consensus on its upcoming 10-year strategy to achieve greater developmental impact. The Minister emphasized…
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Nigeria secured $7.6bn investment commitments, says Adesina
President of the African Development Bank (AfDB), Akinwumi Adesina stated Nigeria secured $7.6 billion in investment pledges during the 2024 Africa Investment Forum held in Morocco. Speaking in a post on his X, Adesina expressed excitement about the investment commitments to Nigeria, commending the active participation of several Nigerian state governors at the forum. “I am delighted the Africa Investment…
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Nigeria GDP plummets by $300bn in value over last decade, says report
A report by CFG Advisory has revealed that Nigeria Gross Domestic Product (GDP) at $195 billion has declined over the last decade losing over $300 billion in value due to devaluation, low productivity and stagflation. The report titled, ‘Nigeria’s 2025 Economic Forecast from Reform Fatigue Quagmire to Sustainable Growth’ stated that the country is no longer the largest Economy in…
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