Nigeria has revised the methodology for calculating its Gross Domestic Product (GDP), significantly increasing the size of the economy to ₦372.8 trillion in 2024, following a rebasing exercise by the National Bureau of Statistics (NBS). The update shifts the GDP base year from 2010 to 2019, bringing the country’s national accounting system in line with…
Nigeria’s economic indicators are showing signs of stabilisation as the country moves forward with a new sovereign green bond issue and ongoing reforms aimed at boosting investor confidence and sustainable development. Dr Patience Oniha, Director-General of the Debt Management Office (DMO), made the comments during an investor engagement session in Lagos on Monday ahead of…
The Minister of Finance, Mr Wale Edun, has emphasised the crucial role of the capital market in achieving the nation’s ambitious goal of becoming a one-trillion dollar economy. Speaking at the Capital Market Committee (CMC) meeting, the minister highlighted the market’s transformation since 2015. He said that with improvements in governance structures, new products and…
Vice-President Kashim Shettima says the difficult but very crucial decisions taken by President Bola Tinubu are targeted at engineering an economy that works for all Nigerians. Shettima said this on Wednesday during the 15th Mechanical Engineering Distinguished Lecture (MEDL), held at the Shehu Yar’Adua Centre, Abuja. The Vice-President also said that Tinubu’s administration is taking…
Initiative for Leadership Development and Change (ILDC), a Civil Society Organisation (CSO) says the Federal Government ban on foreign goods is a testament of President Bola Tinubu’s commitment to re-engineering Nigeria’s economy. Chief Ugochukwu Nnam, President ILDC said this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. The NAN…
Vice President Kashim Shettima has stated that African economies will thrive when the continent is able to lawfully share secured data. He sated this in Abuja, Tuesday at the opening ceremony of the Network of African Data Protection Authorities (NADPA), with the theme, “Balancing Innovation in Africa: Data Protection and Privacy in Emerging Technologies” and…
Nigeria, Africa and the U.S. are set to develop a strategic economic and security partnership. In line with this, President Bola Tinubu held a meeting with Mr Massad Boulos, U.S. Senior Advisor for Africa, on Thursday in Paris, France. Mr Bayo Onanuga, the President’s spokesman, said in a statement on Sunday, that the meeting focused…
Energy expert, Dr Ayodele Oni, says the removal of fuel subsidies in Nigeria has had a significant impact on the country’s economy. Oni, a partner at Bloomfield Law Firm, made the assertion in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. According to him, experts have noted both positive and…
The Tinubu Stakeholders Forum (TSF) says the Q4 2024 Confidence Index recently released by the Manufacturers Association of Nigeria (MAN), which rose to 50.7 points, reflected a moderate improvement in the confidence of CEOs in the manufacturing sector. Mr Ahmad Sajoh, Chairman of TSF, said in a statement on Wednesday that this signified the resilience…
The Chairman of the Senate Committee on Finance, Sen. Sani Musa, has assured that the Senate would produce legislation from the tax reform bills aimed at making Nigeria’s economy a trillion-dollar base. He added that President Bola Tinubu had tasked the National Assembly with this goal and that the legislature was committed to creating a…
