The Federal Government has mobilised first responders to the scene of a collapsed mining site in Galadima Kogo, Shiroro Local Government Area (LGA) of Niger State. The Minister of Solid Minerals Development, Dr. Dele Alake disclosed that the swift action of the Federal Government underscores its commitment to mitigating the adverse impact of the incident and rescuing those still trapped …

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has declared that Nigeria’s economy is experiencing appreciable growth that may see the high inflation in the country come down in a few months. Edun spoke on Sunday when he was featured as a guest on Channels Television’s Politics Today. The National Bureau of Statistics (NBS) had reported …

The Board of Governors of the African Development Bank (AfDB) Group has approved a capital increase of $117 billion to further support Nigeria and other countries on the continent. AfDB President, Dr Akinwumi Adesina, said this at the closing of the 2024 Annual Meetings of the bank in Nairobi. “So the Board of Governors of the AfDB approved a general …

The Managing Director/CEO of Financial Derivatives Company Limited, Mr. Bismarck Rewane has said that Nigeria has fallen from the 32nd largest economy in the world to 42nd, and that Ghana had overtaken Nigeria in Gross Domestic Product (GDP) growth. He added that in Africa, Nigeria has also descended from first to fourth in terms of wealth management and accumulation. In …

The Naira yesterday depreciated in the parallel market to N1,515 per dollar from N1,495 per dollar on Wednesday. Similarly, the Naira depreciated to N1,485.66 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,485.66 per dollar from N1,462.59 per dollar on Wednesday, indicating N23.07 depreciation for …

The Central Bank of Nigeria (CBN) released a total sum of $2.13 billion to Nigerians for importing food products in 2023, according to findings by The PUNCH. According to the quarterly statistics of the Central Bank of Nigeria, the forex release showed that there was consistent demand from foreign countries despite being touted as the food basket of Africa. This …

Cross River State government, has secured a $3.5 billion funding from the Pan-African multilateral financial institution, African Export-importbank (Afreximbank), for some of its key infrastructure projects in the state. The state governor, Senator Bassey Otu, who was in Egypt, last week for a workshop, also visited the African Export-Import Bank (Afreximbank) in Cairo to explore partnership in key infrastructure projects …

To boost the ease of doing business in the mining sector, the Federal Government has launched the Nigeria Mineral Resources Decision Support System (NMDSS). Launching the system, the Minister of Solid Minerals Development, Dr. Dele Alake said that the portal would expand access of prospective investors to critical information on Nigeria’s mineral deposits, policies guiding the mining sector and incentives …

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has hinted that the apex bank will keep interest rates high until inflation subsides by implementing orthodox policies. Inflation in Nigeria remains stubbornly high at 33.2 per cent, the highest in three decades, while food inflation is higher still at 40 per cent. In an interview with the Financial …

President Bola Tinubu has commended the inauguration of Nigeria’s largest lithium processing plant in Lafia, Nasarawa State, hailing it as a clear indication of the country’s attractiveness for foreign investment. He made the remarks on Friday in Abuja during a meeting with Governor Abdullahi Sule of Nasarawa State, who was accompanied by Mr. Hi Yongwei, Chairman of Avatar New Energy …