Nigeria’s Gross Domestic Product (GDP) grew by 3.4 per cent in 2024 representing a 0.66 percentage point year-on-year( YoY) growth when compared to 2.74 per cent recorded in 2023. The improvement in GDP growth in 2024, followed the 3.84 per cent growth recorded in the fourth quarter, Q4’24, which represents 0.38 percentage points higher than the 3.46 per cent growth …

The Federal Executive Council (FEC), on Monday, approved the establishment of the Creative and Tourism Infrastructure Corporation (CTIC). This entity will operate under a public-private partnership model to develop its creative and tourism industries and add $100 b to the country’s Gross Domestic Product (GDP) by 2030. The Minister of Art, Culture, Tourism, and Creative Economy, Hannatu Musawa, disclosed this …

The Independent Media and Policy Initiative (IMPI) has justified two recently released reports by the National Bureau of Statistics (NBS) on Nigeria’s latest Gross Domestic Product (GDP) figure and the unemployment rate. This is against the backdrop of claims by some critics who had sought to discredit the reports that were largely positive a few weeks after they had hailed …

President Bola Tinubu has assured Nigerians of better economic output as the economy continues to expand following the newly released third quarter Gross Domestic Product report by the National Bureau of Statistics. According to the NBS, Nigeria’s GDP grew by 3.46%, compared to the 3.19% growth recorded in the second quarter. The growth in GDP shows that President Tinubu’s quest …

Lagos Governor attends AfriCaribbean business forum, makes case for sub-national inclusion Economic prosperity recorded by Lagos State over the last two decades has shown the strength and potential which any sub-national government can offer in shaping the African growth narrative, Governor Babajide Sanwo-Olu told a transatlantic forum in Bahamas on Wednesday. Sanwo-Olu said with a strong focus on internal revenue …

Lagos State contributes N41 trillion (20 per cent) to the country’s Gross Domestic Product (GDP), Commissioner for Economic Planning and Budget, Ope George, has said. According to him, despite many challenges, such as COVID-19 and Endsars protest, the state has devised strategies to keep its economy afloat and boost investor confidence. He said the state would continue to move based on world …

By Elvis Eromosele  Transportation, the movement of people and goods from one place to another, is a significant driver of human progress. In Nigeria, the three key means of transportation are road, air and water. Road transport however dominates the means of transportation, especially in urban and suburban areas. Reports indicate that road transport makes up about 90 per cent …