Economy
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Tinubu’s economic reforms are making significant progress, says Bagudu to World Bank
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, on Monday said President Bola Tinubu’s fuel subsidy removal, among other economic reforms are making significant progress and the country is on the right track to achieve the $1 trillion economy. He spoke during a courtesy visit from the World Bank’s new Country Director for Nigeria, Mr. Mathew Verghis, and stated…
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Nigeria’s digital sector draws $191m in Q1 – Bosun Tijani
…$2bn fibre project set for Q4 By Kunle Sanni Nigeria’s digital economy recorded a sharp rise in foreign direct investment (FDI) in the first quarter of 2024, growing from $22 million in Q1 2023 to $191 million, according to the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani. In an interview for a forthcoming State House documentary marking…
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Nigeria’s capital market key to achieving $1trn economy, says Wale Edun
… unveils ISA 2025 and launch of new SEC website Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun , has emphasized the crucial role of the capital market in achieving the nation’s ambitious goal of becoming a $1 trillion economy. Speaking at the Capital Market Committee (CMC) meeting, Edun who was represented by Minister of State…
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55 MDAs fail to answer public phone calls, reveals PEBEC report
A report by Presidential Enabling Business Environment Council (PEBEC) has revealed that 55 Ministries, Department and Agencies (MDAs) failed to pick up telephone calls from the public, while six rated “Excellent” with a prompt and clear in their responses. The mystery exercise was structured into four distinct segments, each designed to evaluate different aspects of service quality. The four segments…
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China deepens mining ties, sets to establish electric vehicle plants in Nigeria
The Chinese Ambassador to Nigeria, His Excellency Yu Dunhai, has called for stronger collaboration between Nigeria and China to unlock the potential of Nigeria’s solid minerals sector through the establishment of electric vehicle factories. During a courtesy visit to the Minister of Solid Minerals Development, Dr. Dele Alake, in Abuja over the weekend, Ambassador Dunhai described Nigeria as a country…
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Federal, state, and LGs share N1.681trn FAAC allocation for April
The Federation Account Allocation Committee (FAAC) has shared a total of N1.681 trillion among the federal, state, and local governments as federation allocation for April 2025. The disbursement was made during FAAC’s May 2025 meeting chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. The allocation came from a gross revenue of N2.848 trillion, comprising…
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Foreign oil giants eye return to Nigeria’s oil market, target deepwater prospects
Petrobras, Brazil’s state-controlled oil company, is actively pursuing a return to Nigeria’s oil market, focusing on frontier deepwater exploration opportunities. This marks a reversal from its previous strategy of exiting Nigerian investments in 2020. Petrobras aims to acquire frontier deepwater acreage as part of its diversification strategy. Petrobras’ re-entry into Nigeria’s oil market marks a significant shift from its previous…
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Ekiti, Osun emerge most expensive States in Southwest, NBS reveals
A report by the National Bureau of Statistics (NBS) has revealed Ekiti and Osun as the most expensive states, while Ondo is the least expansive state in the Southwestern region of Nigeria. The NBS in its rebased Consumer Price Index (CPI) report on inflation rate announced 23.71 per cent inflation rate for April 2025, a 9.99 per cent Year-on-Year (YoY…
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Nigeria joins European Bank for reconstruction, development
Nigeria has officially been admitted as a member of the European Bank for Reconstruction and Development (EBRD), marking a major step toward enhancing private sector access to international capital and supporting the country’s long-term economic reform agenda. The Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, led a high-level Nigerian delegation to the EBRD 2025 Annual…
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Sahara Group GMD hails Tinubu’s energy reforms, predicts sectoral growth
By Kunle Sanni The Group Managing Director of Sahara Group, Kola Adesina, has expressed strong confidence in President Bola Ahmed Tinubu’s sweeping energy reforms, describing them as courageous, transparent, and vital for long-term sustainability. Speaking in an interview for an upcoming State House TV documentary commemorating the second anniversary of the Tinubu administration, Adesina praised the removal of the fuel…
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