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UK economy hits unexpected growth

Reforms position Nigeria as emerging investment hub –

  • 15th May 2025
Ogun cargo airport to employ 25000 youths on completion - Dapo Abiodun

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  • 14th May 2025

Nigeria ships first Obodo crude blend, says NUPRC

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UK expands work visa sponsors for Nigerians

UK unveils major visa overhaul to cut legal

  • 11th May 2025

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Category: News

Crypto giant Tether boosts stake in Juventus to over 10%

Crypto giant Tether boosts stake in Juventus to over 10%

Cryptocurrency giant Tether has increased its ownership stake in Juventus Football Club to more than...

  • 24th April 2025
IBM shares slide nearly 7% after federal contract suspensions

IBM shares slide nearly 7% after federal contract suspensions

Shares of International Business Machines Corp. tumbled nearly 7% in early trading on Thursday after...

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Air Peace resumes operations after NiMet strike suspension

Air Peace resumes operations after NiMet strike suspension

Air Peace has announced the full resumption of its flight operations effective Friday, April 25,...

  • 24th April 2025
Meta lays off staff in Reality Labs division amid ongoing restructuring

Meta lays off staff in Reality Labs division amid ongoing restructuring

Meta, the parent company of Facebook, has begun another round of layoffs within its Reality...

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Cybercriminals stole $16.6b from Americans in 2024 – FBI

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Nigeria remains safe investment destination, says finance minister Edun Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reaffirmed the country’s position as a secure and promising destination for investment, citing ongoing reforms and renewed economic momentum. Speaking at the Nigeria Investment Forum on the sidelines of the World Bank/IMF Spring Meetings in Washington, D.C., Edun highlighted the government’s commitment to fiscal stability and structural reforms aimed at revitalising the economy. “One of the reasons for the new leadership at the Nigerian National Petroleum Company Limited (NNPCL) is to increase production and reduce costs,” Edun said, adding that the administration is also intensifying efforts to diversify the economy and attract private sector participation. According to the minister, the government is focused on optimising state-owned assets to close budgetary gaps and remains committed to upholding the sanctity of contracts — a principle key to building investor trust. “We are committed to stabilising the economy so the private sector will find it attractive to invest,” he said. “Our goal is to ensure fiscal congruence and support sustainable growth.” Edun outlined President Bola Tinubu’s reform agenda, which he said is already producing positive signs of recovery. These include narrowing budget deficits, a stabilising exchange rate, and an improved trade balance. “The economy is showing signs of growth. We are targeting seven per cent annual growth, and the policies we’ve implemented have laid the groundwork to achieve this,” he stated. He identified agriculture as a top priority, emphasizing the importance of boosting local production across the entire value chain to enhance food security. “We aim to close the food supply gap not through imports, but by enabling domestic producers to scale and innovate,” Edun said. Highlighting digital infrastructure as another cornerstone of economic growth, the minister revealed that 90,000 kilometres of fibre optic cable have been deployed nationwide to strengthen connectivity and support Nigeria’s growing tech ecosystem. In addition, 4,000 kilometres of roads have been put forward for private sector participation, with 1,000 kilometres already approved for delivery. Meanwhile, Central Bank Governor Yemi Cardoso echoed Edun’s optimism, noting that the government's tough economic decisions are starting to yield results. “The difficult reforms undertaken have begun to bear fruit,” Cardoso said. “We’ve managed to stabilise the macroeconomy. Fitch’s recent upgrade of Nigeria’s credit rating reflects the progress we’re making.” He acknowledged the challenges of the past 18 months but stressed the administration’s resolve to build a stronger, more resilient economy. “This is about building trust and moving forward with confidence. If we stay the course, we will achieve our goals,” he concluded.

Nigeria remains safe investment destination, says finance minister Edun

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has reaffirmed...

  • 24th April 2025
Nigeria in talks to rejoin JP Morgan bond index

Nigeria in talks to rejoin JP Morgan bond index

Nigeria is in advanced discussions with JP Morgan to re-enter its Government Bond Index, a...

  • 24th April 2025
The Federal Government, through the Debt Management Office, has announced plans to reopen two tranches of its savings bonds worth a combined N350 billion for public subscription.

FG to auction N350bn bonds at N1,000 per unit on April 28

The Federal Government, through the Debt Management Office, has announced plans to reopen two tranches...

  • 24th April 2025
FG signs €995m deal to boost Nigerian agriculture sector

FG unveils green money project to empower youth in agriculture

The Federal Government has launched the Green Money Project, a presidential initiative aimed at empowering...

  • 24th April 2025
Air Peace suspends flights over NiMet strike, cites safety concerns

Air Peace suspends flights over NiMet strike, cites safety concerns

Domestic airline Air Peace has suspended all flight operations across Nigeria, citing serious safety concerns...

  • 23rd April 2025
Ghana partners Zipline to deliver medical Supplies amid USAID disruptions

Ghana partners Zipline to deliver medical Supplies amid USAID disruptions

In the wake of ongoing disruptions to United States Agency for International Development-funded supply chains,...

  • 23rd April 2025
Chinese automaker Chery to launch hybrid vehicles in S'Africa

Chinese automaker Chery to launch hybrid vehicles in S’Africa

Chinese automaker Chery is accelerating its efforts to capture the South African market with the...

  • 23rd April 2025

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