economy
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The average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (LPG), popularly known as cooking gas, surged by 44.51% year-on-year in July 2025, according to the National Bureau of Statistics (NBS). In its Liquefied Petroleum Gas (LPG) Price Watch Report for July 2025, released on Tuesday, the NBS said the cost […]
Guarantee Trust Holding Company Plc (GTCO) has injected N365.9bn into its banking subsidiary, Guarantee Trust Bank Limited (GTBank), to comply with the Central Bank of Nigeria’s (CBN) new minimum capital requirement for commercial banks with international authorisation. In a statement filed with both the Nigerian Exchange Limited and the London Stock Exchange on Friday, GTCO said the injection […]
The National Economic Council (NEC) on Thursday approved the framework for the Renewed Hope Development Plan (2026–2030), designed to consolidate ongoing reforms and steer Nigeria towards achieving a $1 trillion economy by 2030. The decision was part of the resolutions reached at the council’s 151st meeting, presided over by Vice President Kashim Shettima at the Presidential […]
The Nigeria Customs Service has called on border communities to provide credible intelligence to the Service to help in the fight against smuggling activities and related activities. Area Comptroller, Ogun 1 Area Command, Godwin Otunla, made the call in an interview with the News Agency of Nigeria on Monday in Idiroko, Ogun. Otunla said that the […]
The Nigerian National Petroleum Company Limited has recorded a substantial decline in its profit after tax, dropping from N905bn in June to N185bn in July. This represents a staggering 79.6% decrease in profit. The company, in its monthly report released late on Thursday, said it recorded N4.41tn in July, down from N4.57tn in the previous […]
Most Nigerian states failed to meet their capital expenditure targets in the first half of 2025, despite higher revenues from subsidy removal and exchange rate reforms. Budget Implementation Reports from 31 states show that a total of ₦2.75 trillion was spent on capital projects between January and June, representing only 15.7 per cent performance against the ₦17.51 […]
In a panel session on the Friday edition of Eagle 102.5FM’s Frontline, guests Dr. Adedayo Adelowokan, Honourable Adebowale Ojuri, and Comrade Bayo Ayanga dissected Nigeria’s economic reforms, the effectiveness of social safety nets, and the government’s policy implementation challenges. Recall that yesterday, World Trade Organisation (WTO) Director-General Dr. Ngozi Okonjo-Iweala met with President Bola Tinubu […]
The Minister of Housing and Urban Development, Ahmed Dangiwa, has said the Federal Government will unlock over 150 billion dollars in dormant land capital nationwide to boost economic growth. Ahmed made this known in a statement signed by the Director, Press and Public Relations, Badamasi Haiba, in Abuja on Thursday. Dangiwa made the announcement at […]
Nigerian states spent a staggering ₦235.58bn servicing external debt in the first half of 2025, representing a 68.4 per cent jump from ₦139.92bn in the same period of 2024, according to data from the National Bureau of Statistics. The sharp rise underscores the growing pressure of dollar-denominated loans on state finances amid a weakening naira. […]
The Oyo State Government, on Wednesday, received the revised compensation rates on crops and economic trees for landowners affected by projects to ensure fairness and justice. The state Commissioner for Lands, Housing, and Urban Development, Williams Akin-Funmilayo, stated this while receiving the document from the representative of the Federal Government. Akin-Funmilayo, in a statement by […]
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