The International Monetary Fund (IMF) has projected a 23 per cent inflation rate for Nigeria in 2025 and a further drop to 18 per cent in 2026. In its Global Economic Outlook released yesterday at the ongoing IMF/World Bank Spring Meetings in Washington D.C, Division Chief, IMF Research Department, Daniel Leigh, said Nigeria is moving in the right direction with economic reforms …

President Bola Tinubu on Tuesday launched the National Single Window initiative, a transformative project that will propel the nation’s economy to new heights. According to his spokesperson, Chief Ajuri Ngelale, the initiative is another bold testament to the President’s commitment to breaking long-standing developmental barriers in advancing the progress, prosperity, and well-being of every Nigerian. At the launch of the …

FG SUSPENDS MINING ACTIVITIES WITHIN OAU AND ITS ENVIRONS Pending the conclusion of investigations into suspected illegal mining around the Obafemi Awolowo University (OAU) and Obafemi Awolowo University Teaching Hospitals Complex (OAUTHC) Ile-Ife, Osun State, the Federal Government has announced the indefinite suspension of mining activities within the academic institutions, and their environs. After a meeting with OAU Vice-Chancellor, Prof. …

The Naira, on Friday, appreciated to N1,150 per US dollar at the parallel section of the foreign exchange market. Bureau de Change (BDCs) operators, quoted the buying rate of the greenback at N1,110 and the selling price at N1,150 — leaving a profit margin of N40. The Naira appreciated by 0.86 percent from the N1,160 recorded on 11th April. “The …

Popular search engine platform, Google has listed the Naira/US dollar rate as ₦1,247 to $1. This is the first time the platform has listed the Naira/Dollar rate below 1,250 in 2024. One of the reactions to this has come from social commentator, Reno Omokri, who took to his X account to announce the development. He wrote: “Happening Right Now: Google lists Dollar …

The Minister of Solid Minerals Development, Dr. Dele Alake has advised mining companies to emulate the international best practices of the Segilola gold project to develop the sector. He expressed the commitment of the Federal Government to support mining companies that place a premium on local content in their operations. During a site tour of the Segilola Resources Operating Limited …

“With an estimated reserve of 42 billion barrels of bitumen and the second largest deposit in the world, Nigeria has no business importing bitumen. We should be a major net exporter to the rest of the world and we have no choice but to make this a reality”. With those words, the Minister of Solid Minerals Development, Dr. Dele Alake …

President Bola Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET). According to the Presidency, this is a strategic move to bolster the nation’s economic governance frameworks and ensure robust and coordinated economic planning and implementation. The PECC comprises distinguished leaders and key government officials, including: …

The Minister of Solid Minerals Development, Dr. Dele Alake has declared value addition as the irreducible standard for mining operations in the country. During an inspection tour of the gigantic $600 million African Natural Resources and Mines Limited (ANRML) facility, in Kaduna State, that hosts the mining and processing of magnetite iron-ore, the Minister hailed the tenacity and foresight of …

The Office of the National Security Adviser (ONSA) has confirmed that a suspect in the ongoing criminal probe into the activities of Binance in Nigeria, Nadeem Anjarwalla escaped from lawful custody last Friday. In a statement on Monday, the Head of Strategic Communication in the Office of the National Security Adviser, Zakari U. Mijinyawa said: “Upon receiving this report, this …