Business
The federal government and the World Bank have disagreed over the assumptions underpinning Nigeria’s 2025 national budget, with the global financial institution describing key projections as overly optimistic. The disagreement came to the fore on Wednesday during the presentation of the World Bank’s May 2025 Nigeria Development Update (NDU) in Abuja. While the federal government […]
President of the Dangote Group, Alhaji Aliko Dangote, has affirmed that his $20 billion refinery project is not in competition with the Nigerian National Petroleum Company Limited (NNPC), but rather seeks collaboration to enhance Nigeria’s energy security. Dangote made the statement during a courtesy visit to the newly appointed Group Chief Executive Officer of NNPC, […]
President Bola Tinubu has said the ongoing economic reforms introduced by his administration are designed to prevent the collapse of Nigeria’s economy, not to inflict hardship on the people. The president made this known on Thursday while addressing participants at the 55th Annual Conference of the Nigerian Institute of Estate Surveyors and Valuers (NIESV), held […]
A member of the House of Representatives, Hon. Oluwole Oke, representing Oriade/Obokun Federal Constituency of Osun State, has said his admiration for President Bola Tinubu’s leadership style contributed significantly to his recent defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC). Oke said the Asiwaju mentees over the years have done […]
President Bola Tinubu is set to meet with electricity generation company (GenCos) leaders to address the ₦4 trillion debt threatening the stability of Nigeria’s power sector. The move follows a high-level meeting between the Minister of Power, Adebayo Adelabu, and the leadership of GenCos in Abuja last week. In a statement issued by the minister’s […]
The federal government has unveiled a new loan initiative aimed at boosting Nigeria’s creative sector through the Creative Economy Development Fund (CEDF). The fund, announced by the Ministry of Art, Culture, Tourism, and Creative Economy, will offer financial support to creatives, entrepreneurs, and cultural organisations. According to a statement from Nneka Anibueze, Special Adviser to […]
Alphabet Inc., the parent company of Google, posted strong first-quarter results for 2025, reporting a 12% year-over-year increase in revenue to $90.2 billion. The surge was fuelled by robust growth across Google’s core businesses, especially in search, YouTube ads, subscriptions, and cloud computing. Net income rose sharply by 46% to $23.66 billion, while earnings per […]
The concession of Nigeria’s major roads will play a crucial role in reducing inflation, increasing productivity, and strengthening the country’s currency, according to the Managing Director of Financial Derivatives Company Limited, Bismarck Rewane. Speaking on Channels Television’s Business Morning show on Monday, Rewane, who is also a member of the Federal Government’s Highway Development and Management […]
Nigeria’s oil sector faces growing uncertainty following two major pipeline explosions, sparking concerns over the country’s vital energy exports. The latest explosion occurred at a facility supplying petroleum products from Seplat, Agip, and Shell, affecting ONELGA, parts of Imo State, and extending to Brass in Bayelsa State. Fortunately, the site is far This incident follows […]
Nigeria’s headline inflation rate dropped to 23.18% relative to the January 2025 headline inflation rate of 24.48%. This was disclosed by the Nigeria Bureau of Statistics (NBS) in its February 2025 consumer price index (CPI) on Monday. According to NBS, the headline inflation rate showed a decrease of 1.30% compared to the January 2025 headline […]
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