economy
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 […]
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 World Bank has called on the federal government to implement targeted reforms to protect Nigeria’s poorest citizens from surging inflation and to promote more productive work opportunities to reduce poverty. In its April 2025 Poverty and Equity Brief for Nigeria, the Bank warned that inflation, driven by economic reforms such as fuel subsidy removal and […]
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 […]
The World Bank has projected a grim outlook for Nigeria’s poverty rate, warning that more Nigerians are expected to fall into extreme poverty by 2027 despite the country’s abundance of natural resources. This projection was revealed in the World Bank’s Africa Pulse report, released during the IMF/World Bank Spring Meetings in Washington, D.C. The report highlights […]
Nigeria will not be drawn into the internal affairs of China, the Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, Hon. Jaafaru Yakubu, has said. In a statement issued on Tuesday, Yakubu reaffirmed Nigeria’s firm commitment to the One-China Policy, which recognises Taiwan as an integral part of the People’s Republic of […]
The federal government has moved to calm concerns surrounding the recent 14 per cent trade tariff imposed by the United States on Nigerian imports. In response, a multi-sectoral economic management team is reassessing the nation’s economic strategies to mitigate potential negative impacts on trade and fiscal performance. The U.S. tariff, announced last week by President […]
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