Economy
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Dangote declares fuel queues ‘gone forever’ as refinery ramps up supply
By Kunle Sanni – The President of Dangote Group, Aliko Dangote, has declared that Nigerians will no longer experience fuel queues, describing the era of scarcity as “gone forever” as the Dangote Refinery ramps up its supply capacity. Speaking on Friday after a meeting with President Bola Tinubu at the State House, Abuja, Dangote said the refinery is now capable…
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Somolu LG urges rate payers to clear outstanding levies ahead of enforcement drive
The Chairman of Somolu Local Government, Lateef Ashimi, has appealed to rate payers to settle their outstanding levies before enforcement teams begin compliance visits. Ashimi made the appeal during the council’s 2026 Budget Retreat, stressing that improved revenue collection is essential for delivering on his administration’s promises to residents. “I have no doubt that the only way we can fulfill…
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Lagos, Kaduna, Oyo lead Nigeria’s most competitive business environments in 2025
The Presidential Enabling Business Environment Council (PEBEC) has released its 2025 Subnational Ease of Doing Business (EoDB) Report and Business Facilitation Act (BFA) Performance Report, providing a detailed snapshot of how Nigerian states and federal agencies are shaping the country’s business climate. According to the Subnational EoDB Report, Lagos State tops the ranking with a score of 85.6 per cent,…
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Supporting farmers, researchers key to food security – Expert
An agricultural expert, Dr. Adeola Odedina, has urged the government and corporate organisations to support farmers and researchers, stressing that research is vital for food security and economic growth. Odedina, former Commissioner for Agriculture in Ogun State, made the call during a media chat with journalists on Thursday in Akure. He said agricultural yields could be significantly improved if farmers…
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DMO allots N709.62bn as yield surges to 17.5%
The Debt Management Office (DMO) has concluded its Nigerian Treasury Bills (NT-Bills) auction for December 3, 2025, raising a total of N709.621 billion across the three tenors on offer, with the 364-day bill emerging as the investor favourite. The auction, conducted on Wednesday, featured the sale of 91-day, 182-day, and 364-day Treasury Bills, with a total offer of N700 billion.…
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Nigeria recorded $10bn trade surplus with EU in 2025 — Envoy
By Kunle Sanni – Nigeria posted a trade surplus of about $10 billion with the European Union (EU) in 2025, driven largely by rising agricultural exports that significantly outpaced imports, according to the EU ambassador to Nigeria and ECOWAS, Gautier Mignot. Mignot disclosed the figures on Wednesday in Abuja during an end-of-year briefing on the bloc’s activities. He said the…
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FEC approves $100m AfDB loan for Youth Investment Fund
By Kunle Sanni – The Federal Executive Council (FEC) on Wednesday approved a $100 million loan from the African Development Bank (AfDB) to boost the Nigeria Youth Investment Fund, a flagship programme aimed at supporting entrepreneurs aged 18 to 35 across micro, small and medium-scale enterprises. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced the approval…
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Obasanjo decries “Economy of Dependency” at G20 event in Johannesburg
By Kunle Sanni – Former Nigerian President Olusegun Obasanjo has warned that decades of foreign aid and loans have entrenched a damaging pattern of dependency across African economies. He made the remarks while speaking at a G20 event in Johannesburg, South Africa, where leaders from across the Global South gathered to discuss development reforms. Obasanjo, delivering a message published on…
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FG approves N54tn medium-term expenditure framework for 2026–2028
By Kunle Sanni – The Federal Executive Council (FEC) has approved the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper, projecting a federal spending envelope of about N54.43tn for the 2026 fiscal year. The framework, which sets key budgetary assumptions, adopts an oil benchmark price of $64.85 per barrel and a budget exchange rate of N1,512 to the dollar.…
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FG, World Bank commit to expanding social protection, economic opportunities
The Federal Government and the World Bank have reiterated their commitment to expanding social protection systems and economic opportunities for the poor and vulnerable citizens. The assurance was given during the visit of the World Bank Regional Manager for Social Protection and Labour for West and Central Africa, Mr Robert Chase, to the Minister of Budget and Economic Planning, Senator…
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