Economy
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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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Nigeria to host inaugural Foods & Culture Festival in December
The Ministry of Art, Culture, Tourism and the Creative Economy has announced that the maiden edition of the Nigerian Foods and Culture Festival will hold from 16 to 17 December, 2025, at the Cricket Pitch of the Tafawa Balewa Square, Lagos. Minister of Art, Culture, Tourism and the Creative Economy, Hannatu Musa Musawa, disclosed this on Tuesday while briefing journalists…
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Nigeria’s public debt jumps to N152.39trn in Q2 2025, says NBS
Nigeria’s total public debt climbed to N152.39 trillion in the second quarter of 2025, up from N149.38 trillion recorded in the first quarter, according to new data released on Monday by the National Bureau of Statistics (NBS). The 2.01per cent quarter-on-quarter increase reflects the country’s rising domestic and external borrowing obligations. The NBS report shows that Nigeria’s external debt stood…
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Nigeria’s creative sector contributes only 1.2% to GDP — Expert
By Tosin Brown – Marketing and advertising expert Steve Babaeko has revealed that the creative sector contributed just 1.2% to Nigeria’s Gross Domestic Product. Babaeko made this known during the 2025 edition of the Nigerian Entertainment Conference. “Nigeria’s creative sector contributed only 1.2% to the country’s GDP,” he said. Babaeko also noted that the South African creative industry contributed 3%…
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CPPE calls on Senate to withdraw proposed excise hike on soft drinks
The Centre for the Promotion of Private Enterprise (CPPE) has urged the Senate Committee on Finance to withdraw its proposal to amend the Customs and Excise Act to increase excise duty on non-alcoholic beverages, warning that the measure is ill-timed and potentially harmful to Nigeria’s fragile economy. In a statement issued on Monday by its CEO, Dr. Muda Yusuf, CPPE…
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UPDATED: Nigeria’s GDP grew by 3.98% in Q3 2025, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that Nigeria’s Gross Domestic Product (GDP) grew by 3.98per cent (year-on-year) in real terms in the third (Q3) quarter of 2025. According to the latest NBS report, the growth rate is higher than the 3.86per cent recorded in the third quarter of 2024. “During the quarter under review, agriculture grew by…
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BREAKING: Nigeria’s GDP grew by 3.98% in Q3 2025
The National Bureau of Statistic (NBS) on Monday disclosed that Nigeria’s Gross Domestic Product (GDP) grew by 3.98per cent (YoY) in real terms in the third quarter (Q3) 2025. According to the latest GDP report by NBS, the growth rate is higher than the 3.86per cent recorded in Q3 2024. The report revealed that, Agriculture sector grew by 3.79per cent…
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Nigerian equities market drops by N6.54trn in November 2925
The equities market section of the Nigerian Exchange Limited (NGX) dropped by N6.54 trillion by market capitalization in November 2025 amid massive profit-taking by investors. This represents the steepest loss ever recorded since January 2013, when the NGX first crossed the N10 trillion mark. The sharp selloff was largely driven by intensified profit-taking triggered by mounting investor apprehension over the…
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Eno makes key agric-business appointments to drive ARISE agenda
By Folashade Olorunfemi Akwa Ibom State Governor, Pastor Umo Bassey Eno, has approved the appointment of two officials into key positions within his administration, including the roles of Senior Special Assistant and Director of Agric-Business. A statement signed by the Secretary to the State Government, Prince Enobong Uwah, said the appointments are aimed at strengthening service delivery and advancing the…
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