The Seme Area Command of the Nigeria Customs Service (NCS) has intercepted suspected explosive materials, including corrosive mercury, concealed inside five cartons of holy books. The intercepted dangerous items of six canisters of mercury suspected to be components of Improvised Explosive Devices (IEDs), signposts a major achievement of the Area Command in recent times. During a media briefing on Wednesday, …

President Bola Tinubu has sought the approval of the Senate for the Federal Capital Territory Administration’s 2025 Appropriation Bill The request was contained in a letter addressed to Senate President Godswill Akpabio, and read at plenary on Wednesday. ‘Pursuant to Section 299 of the Constitution of the Federal Republic of Nigeria, as amended, which vests legislative powers over the Federal …

The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu has said that Nigeria’s economy is witnessing a significant turnaround, driven by bold reforms, improved coordination, and a renewed focus on national priorities. In a feature interview for an upcoming TV documentary marking President Bola Tinubu’s second anniversary, the Minister declared that the government’s “Renewed Hope Agenda” is working …

Kogi State Governor, Alhaji Ahmed Ododo has ordered the reopening of the access road to the Zuma 828 coal mining site blockade in the state. This is to allow operations to resume. In a strategic move to enhance security and restore mining operations in the state, the Executive Chairman/CEO of Etazuma Mining and Industries, Dr. Innocent Ezuma held high-level meetings with …

PwC Nigeria has released the Nigerian findings of its 28th Annual Global CEO Survey, offering insights into business leaders’ perspectives across industries. The report highlights optimism, with 61% of Nigerian CEOs expecting global economic growth to improve and 64% anticipating positive shifts in Nigeria’s economy in 2025. Reflecting a commitment to strategic reinvention, 61% have expanded into new sectors over …

The Independent Media and Policy Initiative (IMPI) has questioned the rationale by the International Monetary Fund (IMF) for downgrading its economic growth projection for Nigeria in 2025 from 3.2% to 3% on the back of the global oil slump. This according to the think tank is because the Nigerian economy has not, of late, been solely about oil especially with …

The African Development Bank (AfDB) Group has approved a new five-year Country Strategy Paper for Nigeria, committing about $650 million annually between 2025 and 2030 to drive economic transformation, build resilience, and foster broad-based prosperity. The Bank disclosed this in a statement published on its website on Thursday, saying that $2.95 billion would be provided over the first four years …

The Lagos State Government, through the Ministry of Economic Planning and Budget, has released its budget performance report for the first quarter of 2025, reaffirming its commitment to transparency, fiscal discipline, and efficient public financial management. The report, released through its official website on Thursday, stated that, ‘The Lagos State generated total revenue of N582.45 billion,in Q1 2025, reflecting 79% …

Lagos has received a significant boost to its economic standing as the international ratings agency, Fitch Ratings, upgraded the state’s Long-Term Foreign- and Local-Currency Issuer Default Ratings from ‘B-’ to ‘B’. The announcement, posted on Fitch’s website on Friday, also confirmed similar upgrades for Kaduna, Kogi, and Oyo states, with the outlook for all four rated as stable. This positive …

The International Monetary Fund (IMF) has advised Nigeria to enhance transparency in the oil sector to ensure that the subsidy removal savings are transferred to the government’s budget. The director of the African department at the IMF, Abebe Selassie, gave the advice on Friday while presenting the findings of the Regional Economic Outlook for Sub-Saharan Africa report at the IMF …