Category: Economy
Nigeria Signs Pact with Saudi Arabia to Boost $7.7 Trillion Halal Economy
The Nigerian Government has signed a cooperation agreement with Saudi Arabia’s Halal Products Development Company (HPDC) to position Nigeria as a leading player in the global halal market, valued at $7.7 trillion. The agreement, signed at the Makkah Halal Forum in Saudi Arabia, aims to facilitate investment, technical cooperation, and market access across key…
President Tinubu Receives Delta State Senators, Led by Festus Keyamo, at State House
President Bola Ahmed Tinubu on Wednesday received in audience a delegation of Senators from Delta State, led by Festus Keyamo, SAN, the Honourable Minister of Aviation and Aerospace Development. The meeting, held at the State House in Abuja, focused on critical national issues and the development agenda for Delta State. During the meeting, the…
FG, States, LGs Share ₦1.7 Trillion January Revenue – FAAC
The Federation Account Allocation Committee (FAAC) has announced the distribution of ₦1.703 trillion in revenue generated in January 2025 to the Federal Government, states, and local government councils. The allocation was made during the February FAAC meeting held in Abuja, according to a statement by the Director of Press and Public Relations, Office of the…
Court Adjourns $6.2m Fraud Case Against CBN Staff to November 2025
The Federal High Court in Abuja has adjourned the arraignment of three Central Bank of Nigeria (CBN) staff accused of fraudulently obtaining $6.2 million from the apex bank to November 3, 2025. The adjournment followed the Federal Government’s inability to produce the accused persons, who are currently at large, for trial. The defendants—Odoh Ocheme, Adamu…
Nigeria’s GDP Grows by 3.84% in Q4 2024
Nigeria’s economy continued its upward trajectory in the fourth quarter of 2024, with the Gross Domestic Product (GDP) growing by 3.84% year-on-year in real terms, according to the latest data released by the National Bureau of Statistics (NBS). This growth rate represents an improvement over the 3.46% recorded in the fourth quarter of 2023…
Jonathan Blames ‘Ghost Voters’ for Inaccurate Election Results, Calls for INEC Officials to Resign if Pressured
Former President Goodluck Jonathan has attributed the inaccuracy of vote counts during elections in Nigeria to the prevalence of “ghost voters.” Speaking at the YIAGA Africa Reflection Conference on Democratic Elections in West Africa in Abuja on Tuesday, Jonathan emphasized the need for credible electoral officials who are willing to resign rather than succumb to…
Naira Depreciates to N1,502/$ in Parallel Market Amid Slight Gain in Official Market
The Nigerian Naira experienced a slight depreciation in the parallel market yesterday, trading at N1,502 per dollar compared to N1,500 per dollar on Monday. However, in the Nigerian Foreign Exchange Market (NFEM), the Naira showed a marginal appreciation, closing at N1,501.5 per dollar, according to data released by the Central Bank of Nigeria (CBN). The…
Kogi State Secures Major Chinese Investment for Free Trade Zone, Set to Boost Industrial Growth
The Kogi State government has announced a landmark partnership with the People’s Republic of China for the establishment of the Kogi Hunan Special Economic Zone, a Free Trade Zone poised to transform the state into a hub of industrial and economic activity. The agreement was formalized during a high-level meeting between Kogi State Governor Ahmed…
Nigeria’s GDP Grows by 3.84% in Q4 2024, Driven by Strong Services Sector Performance
Nigeria’s economy maintained its upward trajectory in the final quarter of 2024, with the Gross Domestic Product (GDP) growing by 3.84% year-on-year in real terms, according to the latest data released by the National Bureau of Statistics (NBS). This growth rate marks an improvement from the 3.46% recorded in the same period in 2023 and…
NNPC Ltd Leads Africa’s Gas Infrastructure Expansion at NIES 2025, Highlights Tinubu’s Reforms as Key Driver for Investment
The Group Chief Executive Officer of NNPC Ltd, Mele Kyari, has declared that Africa is poised to become the next frontier for global energy investment, with Nigeria at the forefront of this transformation. Speaking at the opening ceremony of the 2025 Nigeria International Energy Summit (NIES) in Abuja, Kyari emphasized Nigeria’s pivotal role as Africa’s…