Economy
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No nation immune to global economic challenges, says VP Shettima
By Kunle Sanni Vice President Kashim Shettima has reaffirmed the federal government’s commitment to addressing Nigeria’s economic challenges, emphasizing collaboration with the National Assembly as a key strategy. Speaking in Lagos after a meeting with President Bola Ahmed Tinubu, Shettima expressed optimism about the nation’s economic recovery despite global challenges. “There is no nation that is immune to the economic…
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FG launches N250bn MOFI real estate investment fund
The Federal Government has taken a significant step towards addressing Nigeria’s Housing Finance Gap with the launch of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF), a N250 billion initiative designed to provide low-cost, long-term mortgage financing and stimulate economic growth through the housing and construction sectors. The Director, Information and Public Relations, Federal Ministry Of Finance,…
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2024: The year Nigeria’s economy went on a rollercoaster
In 2024, Nigeria’s economy experienced notable developments influenced by reforms by Federal Government, external pressures, and ongoing challenges. WESTERN POST brings major development that include some big companies exiting and incoming firms that have opted to invest in the Africa’s largest economy. Firstly, President Bola Tinubu presented ‘Budget of Renewed Hope’ to joint assembly with an aggregate expenditure of N27.5…
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FG confirms Saudi Arabia’s additional $1.2bn investment in livestock sector
The Federal Government has confirmed Saudi Arabia’s SALIC International Investment Company’s acquisition of a 35.43per cent stake in Olam Agri Holdings for a substantial $1.24 billion, marking a significant boost to Nigeria’s agricultural and livestock sector. Minister of Finance Wale Edun made this announcement following a meeting with President Bola Tinubu in Lagos, emphasizing the administration’s commitment to fostering a…
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President Tinubu’s economic diplomacy delivering results – Finance Minister
By Kunle Sanni Nigeria’s economic diplomacy under President Bola Tinubu is yielding tangible results, according to Wale Edun, Minister of Finance and Coordinating Minister of the Economy. Speaking to journalists in Lagos on Sunday after a meeting with the President, Edun highlighted Tinubu’s proactive engagements with global leaders and institutions as instrumental in driving foreign investments and fostering economic partnerships.…
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Debt to IMF : Nigeria missing among top African countries in 2024
As several African nations continue to grapple with economic instability, many have turned to the International Monetary Fund (IMF) for financial assistance, resulting in significant debt obligations. These loans, while intended to stabilize economies, often come with stringent conditions that can hinder long-term development. The latest data, updated on December 23, 2024, reveals the African countries with the highest outstanding…
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Waziri Adio questions FG over 2025 proposed budget provisions
A respected public policy analyst, Waziri Adio has questioned a number of provisions in the proposed 2025 budget of the federal government. Writing in his weekly column in THISDAY on Sunday, Adio, who is the founder and executive director of Agora Policy think tank, described some budgetary provisions as “curious”. “One glaring example is the plan to transfer N146.14 billion…
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Tinubu’s economic policies will yield positive results in 2025, says Oyintiloye
By Deborah Oladejo, Osogbo A chieftain of the All Progressives Congress (APC) in Osun State, Hon. Olatunbosun Oyintiloye, has expressed optimism about President Bola Tinubu’s economic policies, predicting they will yield significant positive results in 2025. Speaking with journalists on Sunday in Osogbo, Oyintiloye, a member of the defunct APC Presidential Campaign Council, acknowledged the temporary hardships brought about by…
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FG’s 52% non-debt expenditure in 2025 budget to boost economic growth, says Adelabu
Minister of Power, Mr. Bayo Adelabu has expressed that the Federal Government is determined to boost economic growth in 2025, with 52per cent of non-debt expenditure devoted to capital projects. He noted that the FG’s approval of a 2025 budget totaling N47 trillion, with N16 trillion allocated to capital expenditure, is a significant economic policy decision. The Former Deputy Governor,…
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Nigeria, China renew N3.28trn currency swap agreement
China’s central bank on Friday revealed that it has renewed a bilateral currency swap agreement with the Central Bank of Nigeria (CBN) as part of efforts to boost trade between both countries. The total value of the agreement was N3.28 trillion (15 billion yuan or about $2.09 billion), China’s Xinhua News quoted the People’s Bank of China to have revealed…
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