Nigeria is likely to experience a decline in its economy in 2024 as a result of its huge debt, growing inflation rate, and effects on citizen welfare, according to the United Nations (UN). The UN has made a projection in its World Economic Situation and Prospects (WESP) report for 2024 which was released on Monday, January 2024. Additionally, the UN …

The Economic and Financial Crimes Commission (EFCC) on Saturday said it visited Dangote Group headquarters with a search warrant for some vital documents on foreign exchange allocations to the company from 2014 to 2023 during the tenure of former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele. It said it decided to search the head office of  Dangote …

The Lagos Chamber of Commerce and Industry (LCCI) has identified the positives in President Bola Tinubu’s new year message, which included commitment to power projects, including the Siemens Energy initiative and efforts to enhance the reliability of transmission lines. It said that the commitment “aligns with the business community’s aspirations for a robust and diversified economy”. In a statement on …

The Minister of Solid Minerals Development, Dr. Dele Alake has declared that the mining sector would experience a major leap in 2024 towards contributing substantially to the nation’s Gross Domestic Product (GDP). In his new year goodwill message to Nigerians, Alake reiterated that President Bola Tinubu’s vision of diversifying the economy through renewed focus on solid minerals is on course, …

Lagos State Government has been commended for its thrives on the economy and appraised for the year 2023 budget performance, reaching 78 percent attainment in the third quarter. Business experts and economists at a round-table to review the Lagos Economy in year 2023 and the outlook for year 2024, held at the Protea Hotel Select, Central Business District, Ikeja, organized …

The Nigeria Customs Service (NCS) is set to flood the seaports nationwide with fresh scanners to facilitate trade. Hosting foreign diplomats to an end- of-the-year dinner at the Customs headquarters in Abuja recently, the Comptroller-General of the Nigeria Customs Service (CGC), Bashir Adewale Adeniyi, who unveiled this recently, said that it was part of his vision for comprehensive automation of …

Baring any unforseen breakdown of ongoing alliance between the Ministry of Marine and Blue Economy and that of Works, the deplorable state of ports access roads in the country may soon be over, as the ministers in charge have agreed to fix the bad roads, in order to ameliorate the pains importers under in cargo delivery in the country. During …

The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, on Monday, committed the 2024 Appropriation Bill presented last Wednesday by Governor Babajide Sanwo-Olu to a joint-committee of the House for proper scrutiny. Obasa urged the joint-committee on Economic Planning and Finance to ensure it works hard enough to produce a well-scrutinised budget in three weeks for …

President Bola Tinubu has urged Nigerians not to exploit the country’s current economic situation for abnormal profit. Over the weekend, the National Bureau of Statistics pegged the country’s inflation rate at 28.2 per cent — Nigeria’s highest since August 2005. In an interview with newsmen on Sunday, President Tinubu acknowledged the “severe impact” of some of his economic policies on …

The Minister of Finance and the Coordinating Minister for the Economy, Wale Edun, has said that the Ogun State Agro-Cargo Airport, when completed, would add value to the lives of the people and contribute to the rapid growth of the state and the nation’s economy. The minister, who stated this on Friday after being conducted around the airport by Governor …