Economy
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Lagos targets N16.14trn food economy via mega infrastructure push, reforms
By Adeola Ogunrinde Lagos State Government has intensified efforts to transform agriculture into a multi-trillion-naira economic sector through major infrastructure projects and market reforms aimed at strengthening the state’s estimated N16.14 trillion food economy. The Commissioner for Agriculture and Food Systems, Abisola Olusanya, disclosed this on Friday during the 2026 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre…
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Nigeria’s economy is now stable despite painful reforms — Tinubu tells Africa CEO Forum
President Bola Tinubu has defended his administration’s economic reforms, insisting that Nigeria’s economy is now stable and predictable despite the hardship experienced by citizens. In his inaugural speech on May 29, 2023, President Tinubu declared the withdrawal of subsidies, citing the absence of any such provisions in the 2023 appropriation act. As a result, the price of petrol skyrocketed by…
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Julius Omodayo-Owotuga steps in as First Bank’s Executive Director, set to become next CEO
First Bank of Nigeria Limited, a subsidiary of First HoldCo Plc, has appointed Dr. Julius Omodayo-Owotuga as Executive Director effective May 13, 2026. As gathered by WESTERNPOST, the new appointment has paved way for him to become the next Chief Executive Officer after the tenure of the current CEO, Mr. Olusegun Adebiosu that was appointed June 2024. His appointment to…
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NITDA, IDCA seal strategic digital economy partnership
The National Information Technology Development Agency (NITDA) and the International Data Center Authority (IDCA) have signed a strategic partnership to collaborate with local and international stakeholders on a large-scale national digital infrastructure programme aimed at transforming Nigeria into a fully integrated digital economy ecosystem. Director General of NITDA, Kashifu Inuwa, described the initiative as a defining moment in Nigeria’s economic…
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S’Africa once denied me entry over expired visa, says Rabiu
The founder of BUA Group, Abdul Samad Rabiu has revealed that South Africa once denied him entry because his visa expired a day before he arrived, but Europeans were allowed to enter without it. Rabiu shared the experience during his presentation on ‘Africa at scale: Capital, policy, and the architecture of growth’ on Thursday at the Africa CEO Forum, held…
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SAPZ programme will drive agro-industrial growth, strengthen food security — Ogunbiyi
The Permanent Secretary of the Federal Ministry of Agriculture and Food Security, Dr Marcus Olaniyi Ogunbiyi, has said the Special Agro-Industrial Processing Zones (SAPZ) Programme will drive agro-industrial growth and strengthen food security in Nigeria. Ogunbiyi stated this during the meeting of the Federal Inter-Agency Technical Committee for the SAPZ Programme held on Thursday in Abuja. He described the initiative…
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Nigeria, Germany sign €65m development cooperation agreement
On Thursday, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, and the Minister of State, Dr Doris Uzoka-Anite, joined senior officials of the German Government, development institutions, and members of the diplomatic corps to sign the Summary Record of the Nigeria-German Government Negotiations at the German Embassy in Abuja, marking a major milestone in the strengthening of bilateral…
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IFC to deploy team to Nigeria to explore investment in livestock, energy, housing
The International Finance Corporation (IFC) says it will send a team to Nigeria to explore scalable investment structures aimed at unlocking private capital in livestock, energy, and housing sectors. The Managing Director of the IFC, Diop Makhtar, disclosed this on Thursday during a meeting with President Bola Tinubu on the sidelines of the 13th Africa CEO Summit in Kigali, where…
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PHOTO NEWS: Tinubu joins African leaders in Kigali push for continental economic alliances
President Bola Tinubuon Thursday joined fellow African leaders and global business executives in Kigali for a high-level CEO Presidential Panel focused on advancing continental economic integration through shared ownership and cross-border investment frameworks. The meeting, themed “The Sovereign Test: Can Africa Turn Continental Alliances into Assets?”, examined how African states can move from policy-level cooperation to practical, investment-driven partnerships capable…
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Africa must unite to attract global investment, says Oyedele
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has called for stronger unity and coordination among African countries to attract global investment and drive sustainable economic development across the continent. Speaking at the Africa CEO Forum in Kigali, Rwanda, on Thursday, Oyedele stated that Africa must present a more coordinated front to the world to unlock capital…
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