The insurance industry has recorded 61 per cent year-on-year increase in third quarter (Q3) of 2024, reaching N1.2 trillion. Mr Kunle Ahmed, Chairman of Nigerian Insurance Association (NIA) disclosed this during a quarterly news conference on the performance of the industry by the association in Lagos. Ahmed said this growth was largly driven by the…
The International Monetary Fund (IMF) has projected that global growth will decline to 2.8 per cent in 2025, as significant policy shifts continue to unfold across the world. This projection is contained in the IMF’s latest World Economic Outlook (WEO) Update for April 2025, titled “A Critical Juncture Amid Policy Shifts”, released on Tuesday. According…
The International Monetary Fund (IMF) on Tuesday lowered its global economic growth forecast for 2025 to 2.8 per cent. Predicting the wave of tariffs and uncertainty unleashed by U.S. President Donald Trump will lead to a worldwide economic slowdown. The IMF revised its projection of 3.3 per cent forecast in January. Global growth for 2026…
An entrepreneur, Mr Nerus Ekezie, has urged the Federal Government to accelerate and enact the tax reform bill to spur economic growth. Ekezie, former Director of the National Association of Small and Medium Enterprises (NASME), made the call in an interview with the News Agency of Nigeria (NAN) in Lagos on Sunday. He stressed that…
Ghanaian President John Dramani Mahama has launched a national economic dialogue to navigate the country’s economic growth path. Addressing participants in Accra, Ghana’s capital, Mahama stressed the importance of the meeting that would seek solutions to Ghana’s recurring economic challenges. He said that formulated strategies to put the country back on a sustainable growth path…
Transcorp Power Plc has declared a revenue growth of 115 per cent in 2024, amounting to N305.9 billion and an operating profit after tax of N80.01 billion. Mr Emmanuel Nnorom, Chairman, Board of Directors, Transcorp Power Plc disclosed this on Tuesday in Abuja, at the companies’ Annual General Meeting (AGM). Nnorom said that the financial…
The Nigerian Export Promotion Council (NEPC) has announced that the country’s trade volume in 2024 reached 7.2 metric tons, with a 20.7 per cent increase in value, totaling 5.45 billion dollars. Dr Nonye Ayeni, Executive Director of NEPC, made this statement during the Ministry of Industry, Trade, and Investment’s retreat for the presentation of the…
By Abubakar Yunusa Nigeria is once again at a political crossroads as lawmakers consider a proposal to create 31 additional states. If implemented, this would be the most significant restructuring of Nigeria’s governance system since the country transitioned to 36 states in 1996. Proponents believe the move could bring governance closer to the people, but…
Members of the Parliament of the Economic Community of West African States (ECOWAS Parliament) have restated the importance of affordable healthcare for the citizens of the sub-region, stressing that it is critical for overall development. This was part of the deliberations to provide more access to healthcare for the citizens at the closing parts of…
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…
