Economy
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BUA Cement to build $240m 3m-tonne cement line in Sokoto
BUA Cement Plc has signed an agreement with China-based CBMI to construct a new ultra-modern 3-million-tonnes-per-annum cement production line at its Sokoto plant, in a move aimed at expanding capacity and meeting Nigeria’s growing infrastructure demand. The US$240 million project covers the new cement line, a dedicated power plant and other supporting facilities. Upon completion, the investment will raise BUA…
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Nigeria’s non-oil exports hit record $6.1bn in 2025 — NEPC
By Kunle Sanni – Nigeria’s non-oil exports rose to an all-time high of $6.1 billion in 2025, representing an 11.5 per cent increase from the $5.4 billion recorded in 2024, the Nigeria Export Promotion Council (NEPC) has said. The Executive Director and Chief Executive Officer of the NEPC, Mrs Nonye Ayeni, disclosed this on Monday in Abuja during the council’s…
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WEF 2026: Shettima commissions Nigeria’s first pavilion in Davos
By Kunle Sanni – Vice President Kashim Shettima on Monday commissioned Nigeria’s first-ever sovereign pavilion at the World Economic Forum (WEF) in Davos, describing the Nigeria House as a symbol of the country’s renewed resolve to actively shape global economic conversations. Speaking at the formal opening of Nigeria House during WEF 2026, Shettima said Nigeria’s future growth depends on deliberate…
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IMF reviews Nigeria’s growth rate forecast to 4.4% in 2026
The International Monetary Fund (IMF) has reviewed its forecast for Nigeria’s economic growth rate upward to 4.4 per cent in 2026. The Bretton Wood organisation upgraded the rate from an initial estimate of 4.2 percent, according to the World Economic Outlook (WEO) released on Monday. IMF said Nigeria’s economic growth is expected to slowdown to 4.1 percent in 2027. The…
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Sanwo-Olu signs ₦4.44trn 2026 budget into law, promises responsible implementation
By Adeola Ogunrinde Lagos State Governor, Mr Babajide Sanwo-Olu, on Monday signed into law the 2026 Appropriation Bill, approving a total budget estimate of ₦4,444,509,776,438 for the fiscal year. The signing ceremony took place at the State House, Alausa, Ikeja, with the Deputy Governor, Dr Obafemi Hamzat, members of the State Executive Council and the Lagos State House of Assembly…
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Shettima arrives in Davos for 56th World Economic Forum, to unveil Nigeria House
By Kunle Sanni – Vice President Kashim Shettima has arrived in Davos, Switzerland, to lead Nigeria’s delegation to the 56th Annual Meeting of the World Economic Forum (WEF), scheduled to hold from January 19 to 23, 2026. Shettima arrived in the Swiss alpine town from Conakry, Guinea, where he represented President Bola Tinubu at the presidential inauguration of Guinea’s President,…
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Dele Alake re-elected Chairman of Africa Minerals Strategy Group
The Minister of Solid Minerals Development, Dr Dele Alake, has been re-elected Chairman of the Africa Minerals Strategy Group (AMSG), a continental forum of African ministers responsible for minerals and mining. Alake was re-elected at the 2026 Annual General Meeting of the group, held on the sidelines of the Future Minerals Forum in Riyadh, Saudi Arabia. He was first unanimously…
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Shettima departs Abuja for Guinea inauguration, Davos economic forum
By Kunle Sanni – Vice President Kashim Shettima has departed Abuja to represent President Bola Tinubu at the presidential inauguration of Guinea-Conakry’s leader, Mamadi Doumbouya, and to attend the 56th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland. Shettima is scheduled to attend President Doumbouya’s inauguration on Saturday, January 17, at the GLC Stadium, Nongo, Conakry, following…
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NEC sets up committee to drive Tinubu’s legacy projects
By Kunle Sanni – The National Economic Council (NEC) has approved the constitution of a high-level, bipartisan committee to drive the implementation of President Bola Tinubu’s legacy infrastructure projects, with the Governor of Cross River State, Prince Bassey Edet appointed as chairman. The decision was taken on Thursday during the 156th meeting of NEC, which was also its first meeting…
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Nigeria’s forex market stabilises below N1,500 amid reforms — Finance minister
By Kunle Sanni – Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has said Nigeria’s external reserves rose to $45.5 billion, the exchange rate stabilised below N1,500 to the dollar, and the country recorded a trade surplus of N19.33 trillion in the first nine months of 2025. Edun made the remarks while delivering the keynote address…
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