Inflation reduced to 24.48 per cent in January 2025, according to the National Bureau of Statistics (NBS). The Statistician of the Federation, Prince Adeyemi Adeniran, who is also NBS CEO, said at a briefing in Abuja on Tuesday that food inflation was 26.08 per cent year-on-year. According to him, the new figure was as result of the rebasing of Nigeria’s inflation …

Taiwan’s Head of Mission in Nigeria and Chief of Taiwan’s Mission at the Taipei Trade Office, Andy Liu, has called on President Bola Tinubu to ensure the relocation of Taiwan’s Mission in Nigeria from Lagos to Abuja. Speaking to journalists in Abuja on Sunday, Liu also urged the Federal Government to sign the Investment Promotion and Protection Agreement which has …

A video of the former presidential candidate, Dr. Gbenga Olawepo-Hashim discussing his ambitious economic plan for Nigeria in 2018 has resurfaced online, six years after it was initially projected. Olawepo-Hashim was then campaigning for the 2019 presidential election as candidate of the party, Peoples Trust. The resurfaced video has attracted widespread admiration for his deep understanding of the country’s economic …

Nigeria must transform its public debts into strategic assets for economic growth and poverty reduction, rather than viewing it as a financial burden, Vice President Kashim Shettima said yesterday. Shettima spoke while inaugurating the Supervisory Board of the Debt Management Office (DMO) at the State House, Abuja. The board is part of the Federal Government’s efforts to strengthen fiscal and …

A study facility to develop a roadmap on Nigeria’s critical value chain from extraction to beneficiation to be funded by the Global Council for Critical Minerals is one of the low hanging fruits secured by Solid Minerals Development Minister Dr. Dele Alake on the sidelines of the ongoing annual Mining Indaba holding in Cape Town, South Africa. The Global Council …

President Bola Tinubu has asked the National Assembly to increase the proposed 2025 budget from N49.7 trillion to N54.2 trillion, an increase of N4.5 trillion over that present the President last December. President Tinubu’s request was contained in a letter read by Senate President Godswill Akpabio on the floor of the red chamber on Wednesday. Last year, the Senate and …

Local government councils across the country are facing a fresh hurdle in their bid to receive their monthly allocations directly from the Federation Accounts. Each of the 774 Local Government Areas is now required to furnish the Central Bank of Nigeria (CBN) with a comprehensive audit of its finances for two years as a prerequisite for direct remittance of their …

After years of failed attempts to implement the international trade’s Single Window in Nigeria, the Comptroller-General General of the Nigeria Customs Service (NCS), Bashir Adewale Adeniyi has identified factors that undermine every effort put into the project, while suggesting preferred ways to make it work. According to the World Customs Organisation (WCO), a Single Window is a trade facilitation concept …

Ogun State Chamber of Commerce, Industry, Mines and Agriculture (OGUNCCIMA), in collaboration with state government, has concluded plans for the 14th edition of the Gateway International Trade Fair scheduled to hold between 7 and 17 February. During a media briefing held at the chambers headquarters in Abeokuta, the state capital, OGUNCCIMA President, Mr. Niyi Oshiyemi disclosed that the theme for this …

Last Wednesday in Saudi Arabia, Nigeria and France drilled down the Memorandum of Understanding (MoU) signed last month in Paris, with concrete commitments by France to upgrade the laboratory, provide advanced technological equipment, and fund the exploration of geological data of the Nigerian Geological Survey Agency (NGSA). Meeting on the sidelines of the ongoing Future Minerals Forum in Riyadh, capital …