Economy
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Sigh of relief as Dangote Refinery launches Euro-V petrol
…Promises no more importation of polypropylene as from October For the first time, Nigerians will gain a clear understanding of the country’s actual fuel consumption, according to Aliko Dangote, President of Dangote Group. This announcement comes as Dangote officially confirmed the rollout of Premium Motor Spirit (PMS), commonly known as petrol, from the world’s largest single-train refinery with a capacity…
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Dangote refinery has liberated Nigeria from chains of economic dependence, says Femi Otedola
Billionaire business mogul, Mr. Femi Otedola has lauded his friend and business partner, Aliko Dangote, for the full-scale operation of his refinery with a capacity of 650,000 barrels per day, stating that the refinery has liberated Nigeria from chains of economic dependence. Otedola congratulated Dangote on Tuesday on his X handle, shortly after Dangote spoke in a broadcast to unveil…
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Otedola lauds Dangote over actualisation of $20bn refinery
Billionaire businessman Femi Otedola has congratulated his friend, Aliko Dangote, on the actualisation of his $20bn refinery in Lagos. Otedola said with petrol now rolled out by the Dangote Refinery, the days of Nigeria bowing to foreign powers for our fuel needs are over. “You have not just built a refinery; you have liberated us from the chains of economic…
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Wale Edun commends Chief of Defence Staff for fostering nation’s economy to flourish
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Friday paid a courtesy visit to the Chief of Defence Staff (CDS), General Christopher Musa, at the Defence Headquarters in Abuja, commending the Military for their tireless efforts in fostering a secure environment that enables the nation’s economy to flourish. Minister of Finance and Coordinating Minister of…
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Windfall tax policy to entrench equitable distribution of resources for Nigerians, says Rewane
The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane, has thrown his weight behind the Windfall Tax on financial institutions by the Federal Government, stressing that the aimed at fostering social good and entrenching equitable distribution of resources for Nigerians. The renowned economist stated this during an on-air interview on the topic: ‘Understanding the Workings…
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Edun inaugurates former Airtel Africa CEO, Segun Ogunsanya as Chairman of Nigeria Sovereign Fund
The Minister of Finance & Coordinating Minister of the Economy, Mr. Wale Edun Wale has officially inaugurated the new Board of the Nigeria Sovereign Investment Authority (NSIA) at the Ministry of Finance Headquarters. This newly appointed Board comprises distinguished professionals from various sectors, carefully selected through deliberations and recommendations made by the Executive Nominations Committee. The final approval was given…
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BREAKING: President Tinubu to meet top Chinese CEOs, seeks economic recovery
By Kunle Sanni President Bola Tinubu’s upcoming trip to the People’s Republic of China, scheduled for September, is expected to include meetings with selected chief executive officers of 10 major Chinese corporations with assets worth over $3 trillion across multiple sectors of the economy, the presidency has said. Ajuri Ngelale disclosed this on Tuesday while briefing State House reporters at…
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President Tinubu welcomes NBS Report showing continued economic growth – Presidency
KUNLE SANNI President Tinubu has welcomed the latest report by the National Bureau of Statistics (NBS) on the state of the economy, as the country’s Gross National Product (GDP) posted another growth, the Presidency has said. According to a statement Monday, issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, President Tinubu expressed his approval of the…
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BREAKING: Nigeria’s Real GDP grew by 3.19% YoY in Q2 2024
The National Bureau of Statistics (NBS) on Monday disclosed that Nigeria’s real Gross Domestic Product (GDP) grew by 3.19 per cent in second quarter of 2024 as against 2.98 per cent in first quarter of 2024. The report disclosed further that the growth rate is higher than the 2.51per cent recorded in the second quarter of 2023. The “Nigerian GDP…
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Nigeria: Okonjo-Iweala advocates policy consistency for economic development
The Director General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, has advocated policy consistency in Nigeria regardless of change from one administration to another. Okonjo-Iweala told a room filled with lawyers at the Eko Hotel & Suites in Lagos on Sunday. She added “Maintaining good economic and social policies; maintaining policy consistency and adding more reforms on top of…
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