Economy
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Economic reforms positioning Nigeria for long-term growth, says Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said Nigeria’s economic reforms are positioning the country for long-term growth under President Bola Tinubu. Edun made this known during a press briefing at the Spring Meetings of the World Bank and the International Monetary Fund (IMF) in Washington D.C., where he outlined the impact of recent…
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FG denies claims of hidden spending, says World Bank report misrepresented
The ministry of finance has dismissed allegations that a significant portion of Nigeria’s federation revenue is being diverted or hidden, describing recent reports as a distortion of the World Bank’s latest Nigeria Development Update. The statement on Sunday by the Minister of State for Finance, Taiwo Oyedele, said claims suggesting FAAC deductions amount to “hidden spending” or missing funds were…
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CBN targets diaspora remittance inflows of $1bn monthly in 2026, says Cardoso
The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has revealed that the apex bank is targeting diaspora remittance inflows of $1 billion monthly by the end of 2026. He stated that the current inflows stand at about $600 million per month. Cardoso, who spoke on Friday during a joint press briefing with Wale Edun, the minister of…
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NMDPRA insists aviation fuel supply stable, dismisses airlines’ price claims
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said there is sufficient aviation fuel supply in the country amid concerns over rising prices. The clarification comes as domestic airlines threatened to suspend operations from April 20 over the increasing cost of aviation fuel, also known as Jet A1. The Airline Operators of Nigeria (AON) had earlier stated that…
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FCCPC denies banning airtime borrowing, blames operators for service disruptions
The Federal Competition and Consumer Protection Commission (FCCPC) has dismissed reports claiming it banned or shut down airtime borrowing and data advance services in Nigeria, describing the reports as false and misleading. In a statement signed by Ondaje Ijagwu, Director of Corporate Affairs, the Commission said it never issued any directive stopping consumers from accessing lawful telecom value-added services. According…
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JUST IN: Tinubu signs ₦68.32tn 2026 budget into law
….Extends 2025 capital spending deadline President Bola Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion for the fiscal year, the presidency has announced. He also assented to an amendment extending the implementation period of the capital component of the 2025 budget from March 31, 2026, to June 30, 2026. According to a…
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Oando JV announces gas agreement to power Bayelsa’s 60mw independent power supply
Oando Plc has announced that its upstream Joint Venture (JV) with NNPC E&P Limited (NEPL), the NEPL/Oando JV, has enabled the delivery of a 60-megawatt (MW) Independent Power Plant (IPP) in Yenagoa, Bayelsa State. The project, commissioned by President Bola Ahmed Tinubu, April 10, 2026, forms part of the State’s broader infrastructure development programme. The NEPL/Oando JV is the sole gas…
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Nigeria has no plans to seek IMF loans, says Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said the country has no plans to approach the International Monetary Fund for loans, despite growing fiscal pressures. Edun made this known on Thursday during a minister’s press briefing at the ongoing IMF-World Bank Spring Meetings in Washington DC. His comments come amid broader concerns about rising…
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Nigeria strengthens push to host AU Monetary Institute
Nigeria has intensified its bid to host the African Union’s African Monetary Institute (AMI), with the Federal Ministry of Finance leading coordinated efforts to secure the institution ahead of its planned 2026 operationalisation. Head Information and Public Relations Unit, federal ministry of finance, Efe Ovuakporie in a statement obtained by WESTERNPOST on Friday stated that the renewed push was articulated…
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Economic reform: ‘I took over from myself,’ Tinubu says, cites Buhari era as continuity
President Bola Tinubu has defended his administration’s economic policies, insisting he bears full responsibility for ongoing reforms while urging Nigerians to remain patient amid current challenges. Speaking on Thursday during an engagement with party stakeholders with the Renewed Hope Ambassadors led by Governor Hope Uzodima of Imo State at the Presidential Villa in Abuja, the president said he had listened…
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