Nigeria’s economy grew by 3.46% in the third quarter of 2024, with total output reaching ₦20.115 trillion, up from ₦18.285 trillion in Q2 2024, according to the Central Bank of Nigeria (CBN). This marks the third consecutive quarterly expansion, driven largely by growth
Dangote Petroleum Refinery has announced a new reduction in the ex-depot price of premium motor spirit (PMS), bringing the cost down to ₦899.50 per litre. This adjustment, aimed at easing transportation expenses during the festive season, was confirmed by Anthony Chiejina, Group Chief
President Bola Tinubu on Wednesday presented a N47.96 trillion national budget for 2025 to a joint session of the National Assembly, emphasizing its potential to trigger prosperity if implemented effectively. The President described the budget as a consolidation of key federal policies aimed
Nigeria’s inflation rate surged to 34.60% in November 2024, up from 33.88% in October, signaling heightened economic hardship for millions of citizens. The National Bureau of Statistics (NBS) disclosed this in its latest Consumer Price Index report, which revealed a 0.72% increase in
Segun Sowunmi, a chieftain of the Peoples Democratic Party (PDP), has criticized President Bola Tinubu’s administration for the widespread opposition to its newly introduced tax reform bills. Speaking on Channels Television’s Sunday Politics, Sowunmi argued that Tinubu’s appointment of key economic and financial
The Centre for Promotion of Private Enterprise (CPPE) has attributed the recent massive appreciation of the Naira against the US Dollar to a surge in Nigeria’s external reserves and strategic interventions by the Central Bank of Nigeria (CBN). According to CPPE Director Muda
Former Senator Shehu Sani has lauded President Bola Tinubu’s international trips, describing them as impactful and economically beneficial compared to the often-criticized foreign travels of previous administrations. Highlighting the President’s visits to Saudi Arabia, Brazil, France, China, and South Africa, Sani noted that
The Federal Government of Nigeria has commenced the deduction of a N50 levy on electronic money transfers of ₦10,000 and above conducted via financial technology (fintech) platforms, including Opay, Moniepoint, Kuda, and others. This levy, known as the Electronic Money Transfer Levy (EMTL),
The Nigerian government has set an ambitious goal to attract $100 billion in annual investments as part of its strategy to address the country’s ongoing economic challenges. This was revealed by the Minister of Budget and National Planning, Atiku Bagudu, on Wednesday during
The national average retail price of petrol skyrocketed to N770.54 per litre in July 2024, marking a significant 28.35% increase from N600.35 per litre recorded in July 2023, according to the latest data from the National Bureau of Statistics (NBS). The month-on-month comparison