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Tinubu administration inherited near-collapsed economy – Edun

The Finance Minister and Coordinating Minister of the Economy, Mr. Wale Edun, revealed that the Bola Tinubu administration inherited a near-collapsed economy but is making steady progress through bold, targeted reforms. During a briefing with the Senate Committee on Appropriations about the 2025 Appropriation Bill, Edun said that the administration’s economic stabilization strategy, emphasizing progress […]

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Tinubu’s subsidy removal saved 19 states from bankruptcy – Presidency

The Presidency has attributed the success of President Bola Ahmed Tinubu’s subsidy removal policy to rescuing over 19 states from the verge of bankruptcy. The policy, part of wider economic reforms, has helped channel funds previously spent on fuel subsidies toward stabilizing state finances and fostering long-term economic growth. The Special Adviser to the President […]

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FG sets aside N175.13m for NELFUND in 2025 budget

The Federal Government, in its proposed N49.74 trillion 2025 budget, has earmarked N175.13 million for the Nigerian Education Loan Fund. Established under the Student Loan Act, 2024, NELFUND aims to provide financial assistance to eligible Nigerian students pursuing higher education. This N175.13 million allocation to the NELFUND is part of the 2025 Federal Government’s final […]

FG adds E-Gates to Nnamdi Azikiwe airport
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FG budgets N2.5bn for Lagos airport boarding bridges

The Federal Government has allocated N2.5 billion in the proposed 2025 budget, for installing passenger boarding bridges at Lagos airport. This is part of the N105.95 billion set aside for the Federal Ministry of Aviation and Aerospace Development, with N93.03 billion dedicated to capital projects. The project is designed to improve passenger convenience and boost […]

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FG hit 1.8mbpd oil production via foreign investments – Minister

The Minister of State for Petroleum Resources, Heineken Lokpobiri, revealed that the Federal Government attracted foreign investors to increase oil production to 1.8 million barrels per day. This marks a rise from one million barrels per day in 2023, including condensates. This was disclosed by Lokpobiri in a statement by on Monday. The oil minister […]

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FG borrowings may exceed N13tn target – Report

Borrowings by the federal government in 2025 could exceed the planned N13 trillion to address the budget deficit. According to Afrinvest Research’s 2025 Outlook Report, net issuances of at least N13.7 trillion may be required to close the gap between projected expenditure and revenue, with a potential Eurobond issuance also on the table. The 2025 […]

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FG can keep current VAT formula 100% – Oyedele

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has suggested that the current Value Added Tax structure might remain unchanged due to the controversies it has generated. Oyedele disclosed this on Sunday during an interview on Arise TV while discussing the tax reforms proposed by President Bola Tinubu. In […]

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FG allocates N105bn to aviation, plans Kebbi refund

The Federal Government has allocated N105,953,496,365 to the aviation industry in the 2025 budget, marking an increase from N63,317,450,275 in 2024. The FG’s budget also includes a plan to refund N4bn to the Kebbi State Government for the construction of Sir Ahmadu Bello International Airport, Birnin Kebbi. This, however, contradicts advice from stakeholders urging the […]

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Finance ministry launches N250bn housing fund

The Federal Government of Nigeria has launched a N250 billion Real Estate Investment Fund through the Ministry of Finance Incorporated. This was disclosed in a statement signed by the Director of Information and Public Relations at the Ministry of Finance, Mohammed Manga on Tuesday. According to the statement, The initiative, announced on December 31, 2024, […]

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FG sees economic gains from Saudi Arabia diplomatic efforts – Edun

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun announced on Sunday that the country’s recent economic diplomacy with Saudi Arabia had started to deliver positive outcomes, including investments, foreign exchange inflows, and job creation. Edun had led a high-level delegation to Saudi Arabia to follow up on President Buhari’s prior […]

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Vandalism derails FG’s 6,000MW power generation goal, says minister 

The Minister of Power, Adebayo Adelabu, has identified vandalism of critical power transmission infrastructure as a significant barrier to achieving the target of 6,000 megawatts of electricity generation by December 2024. He noted that while the government had taken steps to meet this goal, repeated attacks on electricity towers have derailed progress. The was disclosed […]

News

FG assures manufacturers free trade zones will boost exports

The Federal Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, has reassured manufacturers that Nigeria’s free trade zones are aimed at boosting exports and will not undermine local industries. Speaking at a press briefing in Lagos, she emphasized that the zones are designed to operate within guidelines that promote economic growth and address stakeholders’ […]

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