The International Monetary Fund (IMF) has approved the disbursement of 10 million dollars to Somalia to boost the country’s economic reforms. IMF in a statement said that the latest funding “brings Somalia’s total disbursement under the current programme, originally approved in Dec. 2023, to 60 million dollars.’’ Bo Li, the IMF’s Deputy Managing Director, said…
The African Development Bank (AfDB), has called for urgent structural reforms to tackle Africa’s deepening economic challenges that include currency depreciation, rising inflation and an escalating import bill. Its Vice-President for Economic Governance and Knowledge Management, Prof. Kevin Urama, told the News Agency of Nigeria (NAN) that global and local factors contribute to the continent’s…
The Federal Government of Nigeria and the People’s Republic of China have reaffirmed their commitment to deepening bilateral relations, with a focus on driving economic development, infrastructure growth, and technological innovation. The Minister of Foreign Affairs, Amb. Yusuf Tuggar, said this at the Nigeria-China Economic and Trade Partnership Forum Roundtable in Abuja on Monday. Tuggar,…
Nigeria and India have reaffirmed their commitment to a robust strategic partnership. The News Agency of Nigeria (NAN) reports that both countries also pledged to strengthen ties in key areas including economic development, defence, healthcare and food security, among others. This is contained in a joint statement issued on Sunday in Abuja at the conclusion…
Saudi Arabia Government says the forthcoming Global Artificial Intelligent (AI) Summit (GAIN) in Riyadh aims to promote economic diversification of vision 2030. Mohammed Alsahabi, the Press Attaché’, Saudi Arabia Embassy, Abuja, in a statement on Wednesday, said the summit would foster global collaboration to explore transformative potential of AI across industries. The News Agency of…
President Bola Tinubu and Chinese President Xi Jinping, on Tuesday in Beijing, China, pledged to further strengthen the relationship between the two countries to advance trade and economic development programmes. The two leaders also promised to elevate the Nigeria-China ties to that of a comprehensive strategic partnership, by building a high-level Nigeria-China community with a…
President Bola Tinubu on Tuesday said his administration remained committed to sustainable growth through the effective implementation of ongoing economic reforms. The President made the remark at a meeting with Chinese President, Xi Jinping, in Beijing, China, said his spokesman, Ajuri Ngelale, in a statement. “We believe that President Xi has demonstrably reformed the Chinese…
The U.S. African Development Foundation (USADF) has reiterated its commitment to supporting African-led solutions needed to create pathways for prosperity across Nigeria and the continent. Travis Adkins, President and Chief Executive Officer (CEO), USADF, made the reaffirmation during his visit to Nigeria from August 18 to August 21 to expand partnerships. This is contained in…
