Economy
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Budget Office refutes report of NEDC’s N246bn allocation as “salaries budget”
The Budget Office of the Federation has rejected recent claims, alleging that the Northeast Development Commission (NEDC) operates a N246 billion “salaries budget.” Director General, Budget Office of the Federation, Tanimu Yakubu in a statement noted that the assertion is misleading, inaccurate, and rooted in a fundamental misunderstanding of the Federal Government’s budgeting framework. According to him, contrary to…
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Shettima hails MIT’s role in global innovation, urges African entrepreneurs to collaborate
By Kunle Sanni – Vice President Kashim Shettima has commended the Massachusetts Institute of Technology (MIT) for its significant contributions to the global entrepreneurship and innovation ecosystem, noting that its initiatives have helped raise more than $1.5 billion and created over 30,000 direct jobs over the last 20 years. The Vice President also called on African entrepreneurs to strengthen collaboration…
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Nigeria, UAE to co-host ‘Investopia Lagos’ as Tinubu signs major trade pact in Abu Dhabi
By Kunle Sanni – President Bola Tinubu has announced that Nigeria will co-host the Investopia global investment forum with the United Arab Emirates (UAE) in Lagos this February, in a move aimed at attracting international investors and boosting sustainable investment inflows into the country. The announcement was made on Tuesday at the Abu Dhabi Sustainability Week (ADSW) 2026, where Nigeria…
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Nigeria to unlock $3bn annually from carbon market — Tinubu
By Kunle Sanni – President Bola Tinubu has announced that Nigeria is positioning itself to unlock between $2.5 billion and $3 billion annually from the global carbon market over the next decade, as the country advances a self-driven emissions trading system. The president made this known on Tuesday while addressing world leaders at the 2026 Abu Dhabi Sustainability Week, themed…
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‘Nigeria is becoming Africa’s minerals hub with new gold, lithium plants – Alake
The Minister of Solid Minerals Development, Dr. Dele Alake, has said that the establishment of lithium processing and gold refining plants across Nigeria is positioning the country as Africa’s leading minerals hub and a key global partner in minerals critical for the transition to green energy. Dr. Alake made the remarks during a meeting with the Saudi Arabian Minister of…
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NBS rebases CPI to reflect modern consumption, addresses December inflation spike
The National Bureau of Statistics (NBS) has overhauled Nigeria’s Consumer Price Index (CPI) to better capture contemporary household spending patterns, while also announcing measures to adjust December 2025 inflation figures that were projected to spike artificially. Speaking at a stakeholder engagement with the Nigerian Economic Summit Group (NESG) on Monday, Statistician-General and NBS Chief Executive Officer, Adeyemi Adeniran, said the…
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Tuggar says Abu Dhabi Sustainability Week will drive climate funding, trade ties
By Kunle Sanni – The Minister of Foreign Affairs, Yusuf Tuggar, has said the Abu Dhabi Sustainability Week provides a crucial opportunity to turn global climate commitments into concrete projects and funding, following the recent UN climate conference held in Brazil. Speaking to journalists, Tuggar said the forum helps move climate discussions beyond rhetoric by translating agreements reached at COP…
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Analysts project 400bps MPR cut in 2026
A group of analysts at CardinalStone have projected a 300–400basis points Monetary Policy Rate (MPR) cut in 2026 as macro stability improves, supporting manufacturing output and broader economic growth. Nigeria’s MPR has remained elevated as the Central Bank focuses on curbing inflation and stabilising the macroeconomic environment. At its last MPC meeting, CBN voted to hold the policy rate at…
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NBS to normalise December 2025 inflation data amid projected CPI hike
The National Bureau of Statistics (NBS) has announced plans to normalise Nigeria’s inflation figures for December 2025 following projections of a sharp spike in the Consumer Price Index (CPI), which it says is driven largely by technical base effects rather than underlying economic conditions. The disclosure was made on Monday during a virtual stakeholders’ engagement jointly convened by the NBS…
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Heritage Bank: NDIC declares N24.3bn second liquidation dividend to depositors
Following the revocation of the banking license of Heritage Bank Limited by the Central Bank of Nigeria (CBN) on June 3, 2024, the Nigeria Deposit Insurance Corporation (NDIC) has declared N24.3 billion second liquidation dividend to depositors with balances above the statutory insured limit of N5 million at date of closure Before now, NDIC was appointed as liquidator in accordance…
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