It was just a harmless one-liner, but it became the most memorable part of that historic speech. ‘Subsidy is gone and gone for good’. That was President Bola Tinubu, on his inauguration at the iconic Eagle Square, Abuja on 29 May 2023. Besides being the most memorable part of that speech, the phrase became a vivid metaphor for all the …

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 …

Hon. Donald Ojogo, the federal lawmaker representing Ilaje/Ese-Odo Federal Constituency of Ondo State in the House of Representatives, has described President Bola Ahmed Tinubu’s economic reforms as essential steps toward Nigeria’s prosperity. Ojogo commended President Tinubu’s courage in initiating the reforms, stating that only a leader with boldness and vision could embark on such ambitious measures. He noted that while …

If the candidate of the Peoples Democratic Party in last year’s presidential election, Alhaji Atiku Abubakar had won, his administration would have tackled corruption in the oil sector by repositioning the NNPC Limited (NNPCL), which he described as a “huge beneficiary of the status quo”. In  statement on Sunday, Atiku, who was Nigeria’s Vice President between 1999 and 2007, said …

The Independent Media and Policy Initiative (IMPI) has said that, contrary to suggestions in a section of the media, the economic reforms of the Bola Tinubu administration are based on a clear plan to steer the country away from the tragic path of another oil-rich country, Venezuela. In a statement on Sunday, IMPI’s Chairman, Dr. Niyi Akinsiju said that the …

The Minister of Women Affairs, Barrister Uju Kennedy-Ohanenye has called on Nigerians to be patient and support President Bola Tinubu’s administration as it tackled the nation’s economic challenges. Mrs. Kennedy-Ohanenye made this appeal on Wednesday, while distributing rice to Anambra State, a gesture by the Bola Tinubu administration aimed at alleviating the current hardship faced by Nigerians. The relief package, …

The Federal Ministry of Budget and Economic Planning, in collaboration with the Nigerian Economic Summit Group (NESG), has designed the 30th edition of the summit (NES-30), to address the current economic headwinds facing the country with a view to creating a pathway to stability. Themed, ‘Collaborative Action for Growth, Competitiveness and Stability’, the summit will hold from 14-16 October 2024 …

The World Bank projects that the value of Nigeria’s Gross Domestic Product in 2024 will reduce to $394.94 billion at current prices, that is, a decline of $82.44 from the 2022 size when it was stated to be $477.38 billion. This projected shrinking of the size of the Nigerian economy will reflect in further reduction of the nation’s per capita …

To understand the nation’s current economic milieu, we have to go back to 15th June 2016. Nigeria’s central bank, on that day, announced it would abandon its currency’s dollar peg in preference for a free float of the Naira in an effort to alleviate the chronic foreign currency shortages choking growth in Africa’s biggest economy. Under one week after the …

Nigerians are buffeted from all corners. Inflation is at an all-time high, even as the value of the naira has sharply plummeted, heralding what is probably the worst economic crisis the country has seen. Coupled with the rising wave of crime in the form of kidnapping, armed robbery, and banditry, the general outlook of things is bleak. Now, with the …