Economy
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Bagudu harps on increasing investment in agriculture
…praises collaboration between fiscal, monetary policy authorities in the last 18 months The Minister of Budget and Economic Planning, Senator Abubakar Bagudu on Thursday called on the need to invest more in agriculture, noting of its incremental security gains, which had enhanced production in challenged farming areas in the Northwest and Northeast. The Minister, who disclosed this at Central Bank…
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FG committed to market-driven reforms, says Edun to JP Morgan delegation
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun on Wednesday said to a high-level delegation from JP Morgan that the Federal Government under President Bola Tinubu leadership is committed to market-driven reforms. The JP Morgan delegation who was led by Dapo Olagunju, Head of West Africa, met with the Minster at Finance HQ to explore investment…
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Nigeria seeks $15bn investment to revive moribund power sector
The Federal Government has announced an ambitious plan to revamp the country’s struggling power sector, targeting $15 billion in private investments to bridge a $23 billion funding gap, according to Bloomberg. The initiative revealed at the ongoing World Bank Energy Summit in Tanzania, aims to tackle the country’s electricity crisis and provide power to 86 million Nigerians currently living without…
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Trade Ministry to conduct census for MSMEs nationwide
The Ministry of Industry, Trade and Investment is planning to conduct a census for Micro, Small and Medium Enterprises (MSMEs) nationwide in 2025. In a bid to improve the country’s economic growth, the Ministry under the leadership of Dr. Jumoke Oduwole is intensifying efforts to boost productivity in the industrial sub-sector of the economy. According to the Ministry’s economic outlook…
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NMDPRA commences rollout of gas licenses to offtakers
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has commenced the rollout of gas licenses to qualified players in the sector, following frequent collapse of the national grid. A statement on Monday by NMDPRA’s media unit and signed by Jemilah Adama, said the development is in line with President Bola Tinubu’s directive to ensure all power generation assets receive the gas…
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Nigeria Solid Minerals Corporation to significantly transform mining sector, Alake assures
The Minister of Solid Minerals Development, Dr. Dele Alake has assured Nigerians that the establishment of the Nigeria Solid Minerals Corporation will significantly transform the mining sector and lay the foundation for its sustainable development. Speaking on Monday while receiving the British Deputy High Commissioner to Nigeria, Jonny Baxter, in his office, Alake disclosed that initial set up of the…
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GDP rebasing, CPI reports to ensure clear indicators of Nigeria’s economy, says NBS
The rebasing of Nigeria’s Gross Domestic Product (GDP) and Consumer Price Index (CPI) will ensure that economic indicators accurately reflect the country’s current realities. This assurance was given by Semiu Adeniran, the Statistician General of the Federation and head of the National Bureau of Statistics (NBS), during a special session with the Civil Society Organization (CSO) community in Abuja on…
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Wale Edun announces Nigeria’s electricity sector open for investment
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has declared the country’s electricity sector open for investment at the ongoing #Mission300 African Energy Summit in Dar es Salaam, Tanzania. Addressing selected investors and development partners on Sunday evening, Edun highlighted Nigeria’s electricity sector as a prime opportunity for investment. He emphasised the nation’s commitment to macroeconomic…
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Nigeria Customs Service destroys illicit Pharmaceuticals nationwide
In collaboration with other regulatory agencies, the Nigeria Customs Service (NCS) has commenced the nationwide destruction of expired and fake pharmaceutical products, a concerted effort to combat the proliferation of unapproved and harmful substances. Assistant Comptroller General of Customs, (ACG) Timi Bomodi, from the Enforcement, Inspection, and Investigation Department, led the initial phase of the operation on Thursday at the…
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DAVOS 2025: Nigeria, DP World explore infrastructure investment opportunities
On the side-line of the ongoing World Economic Forum (WEF) 2025, the Federal government of Nigeria disclosed a partnership with DP World to explore infrastructure investment opportunities. The Nigeria Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun met with Group Chairman and CEO of DP World, Sultan Ahmed Bin Sulayem to discuss infrastructure investment opportunities that…
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