Economy

  • Edun

    FG’s ongoing reforms address fundamental pillars for sustainable development, says Edun

    The economy is growing faster and government’s financial position becoming better as ongoing reforms continue to address fundamental pillars for sustainable development. Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun on Wednesday gave a full overview of the national economic data, with significant improvements in fiscal and monetary positions. Speaking at the newly introduced quarterly media…

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  • okok

    Lagos, Ondo lead other South West states as most expensive journey by motorcycle

    A report by National Bureau of Statistic (NBS) has revealed that Lagos and Ondo led other South West states as the most expensive journey by motorcycle or Okada per drop. According to the report, the average highest price for motorcycle in Lagos stood at N855.67 per drop in June 2024, while in Ondo, N708.33 per drop.  The bureau “transport fare…

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  • Aliko Dangote and Brice Oligui Nguema 667x400 1

    Gabon’s President invites Dangote to invest in cement, fertiliser production 

    President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote, to invest in Cement and Fertiliser production in Gabon. The President urged Dangote to explore potential investment opportunities in the country’s cement and fertilizer sectors, specifically urea and phosphate production. During the visit, Dangote engaged in discussions with President…

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  • Uche Uwaleke

    26.75% MPR to further squeeze liquidity from banking system, says Prof. Uwaleke

    The Special Adviser to the Chairman Senate Committee on Banking, Insurance and other Financial Institutions., Prof. Uche Uwaleke has said the hike in Monetary Policy Rate (MPR) to 26.75 per cent is targeted at further reducing liquidity from the banking system and jerk up cost of credit with adverse consequences on output. The Monetary Policy Committee (MPC) on Tuesday increased…

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    Reps pass amended 2024 budget at N35.5trn

    The House of Representatives has passed the amended 2024 budget at ₦35.5tn, showing an increase from the ₦28.7tn initial budget. The amendment sought by President Bola Tinubu in his letter last week was ₦6.2tn. The ₦35.5tn passed shows an increase of ₦600bn. The House has also passed the minimum wage bill and the police act amendment bill, just like the Senate. Tinubu had…

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  • Akinwumi Adesina

    Build refineries to compete with Dangote, says Adeshina to petrol importers

    President of the African Development Bank, Akinwumi Adesina, has challenged those accusing Aliko Dangote of trying to monopolize the oil industry to establish their own refineries in Nigeria instead of importing petrol and diesel from abroad. Adesina made this statement on Monday, addressing the conflict between federal oil regulators and Aliko Dangote, CEO of Dangote Group. The regulators recently accused…

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  • Peter Obi

    Nigeria economy has witnessed nine years of retrogression, says Peter Obi

    The Labour Party Presidential Candidate in the 2023 poll, Peter Obi has taken a hard look at the Nigeria economy in the last nine years of All Progressive Congress (APC) administration and laments that it has been retrogression all through. Writing on his X handle on Monday with statistics, Obi said that no effort is being made to address the…

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    Nigeria, Afreximbank strengthen ties to boost financial integration

    On the sidelines of the 6th AU Mid-Year Coordination Meeting of the African Union, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun held bilateral talks with Dr. Benedict Okey Oramah, President of Afreximbank. The Director, Information and Public Relations, Federal Ministry of Finance, Mohammed Manga stated that the meeting was held in Accra, Ghana during…

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  • Port Harcourt

    Shell supplies 475,000 barrels crude oil to Port Harcourt refinery

    The Shell Petroleum Development Company of Nigeria Limited (SPDC) has completed the supply of over 475,000 barrels of crude oil to the Port Harcourt Refining Company Limited (PHRC) from the Bonny Oil and Gas Terminal, a joint venture asset operated by SPDC. The crude supply resumed early in the year after a prolonged outage of over five years, during which…

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  • WhatsApp Image 2024 07 20 at 9.11.18 PM 2

    President Tinubu launches agricultural empowerment programme in Yobe

    …Restates firm resolve to create jobs, diversify Nigeria’s economy By Kunle Sanni As part of efforts to ensure food security and stimulate economic growth across Nigeria, President Bola Ahmed Tinubu on Saturday launched the Yobe State Agricultural Empowerment Programme in Damaturu, the state capital. The initiative, which includes the provision of agricultural machinery and implements, is part of a broader…

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