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FG deducts N256.5bn for gas projects in six months
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Tinubu sacks PTAD boss

President Bola Tinubu has removed Dr. Chioma Ejikeme from her position as Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), 13 months into her reappointment. Miss Tolulope Odunaiya has been named her successor and officially assumed office on November 18, 2024, according to a statement from PTAD’s Corporate Communications Unit. This was disclosed in […]

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FG pays $1.36bn to service debt

The Federal Government spent $1.36 billion to service debts owed to 12 international and multilateral creditors in the first half of 2024. This amount reflects a significant 216.07 per cent increase compared to the $431.23 million spent during the same period in 2023, as reported by the Debt Management Office. Findings show that the increase […]

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Nigeria, India finalize key agreements to boost trade

President Bola Tinubu and India’s Prime Minister, Narendra Modi have directed their officials to finalize key trade agreements aimed at boosting economic cooperation. This was disclosed in a joint statement issued in Abuja at the end of Modi’s state visit. The leaders emphasized the importance of the Economic Cooperation Agreement, Double Taxation Avoidance Agreement, and […]

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FG to begin vehicle spare parts production

The Federal Government, through the National Automotive Design and Development Council, has announced plans to begin local manufacturing of 10 essential vehicle spare parts. It said this initiative is designed to reduce Nigeria’s reliance on spare parts imports, which currently cost the country around $1 billion annually. This was disclosed in a statement by the […]

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FG to rebase GDP, inflation data in 2025

The Nigerian government is planning to rebase its Consumer Price Index and Gross Domestic Product by 2025 to improve the accuracy of economic policies and strengthen investor confidence. This update was shared in a statement on the Ministry of Finance’s official X (formerly Twitter) account after a meeting between the Statistician General of the Federation, […]

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FG revises land compensation framework, pegs cocoa at N160,000/tree

The Federal Government, in collaboration with the World Bank, has revised its compensation framework for land acquisition, setting new compensation rates for mature trees in the North Central Zone. Under the revised framework, matured cocoa trees are valued at N160,000 per tree or N160 million per hectare, matured mango trees at N105,000 per tree or […]

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Promissory Notes debt climbs to N1.65tn in June 2024

The Federal Government’s Promissory Notes debt had risen to N1.65 trillion in June 2024, reflecting a 6.5% increase from March 2024. This marks a significant 114% rise since President Bola Tinubu took office. Promissory Notes are a form of domestic debt where the government issues a written commitment to repay a specific amount at a […]

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FG approves 2025-2027 medium-term expenditure framework

The Federal Government has proposed a budget of N47.9 trillion for the 2025 fiscal year. This was disclosed by the Minister of Budget and Economic Planning, Atiku Bagudu, after a Federal Executive Council meeting led by President Bola Tinubu on Thursday. Bagudu also revealed that the council approved the Medium-Term Expenditure Framework for the 2025-2027 […]

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FG unveil migration control centre to monitor airports

The Federal Government has officially launched the Regular Migration Control Centre at the Nigerian Immigration Service headquarters in Sauka, Abuja, to monitor all international airports in Nigeria in real-time. Interior Minister, Mr. Olubunmi Tunji-Ojo revealed that the centre began 24-hour operations on Monday, following an induction program held two weeks ago. He made this disclosure […]

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3MTT: FG to train another 90,000 youths in tech skills

The Federal Government of Nigeria has announced the selection of 90,000 new fellows for the third cohort of the 3 Million Technical Talent initiative. This program, aimed at developing in-demand tech skills, will help participants become part of a growing pool of technical talent within Nigeria’s digital economy and on the global stage. The Minister […]

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FG releases 25% of pension arrears allocation

The Federal Government has released about 25 per cent of the total amount allocated for pension arrears this year, with a commitment to settle the full N88 billion earmarked for pension arrears in the 2024 budget. The pledge was made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Tuesday […]

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FG eyes domestic, foreign investments to boost economy

The Minister of Industry, Trade, and Investment, Jumoke Oduwole, has stated that the ministry will focus on retaining domestic investment while also attracting foreign direct investment to enhance Nigeria’s economic competitiveness. She noted that this dual approach would create a stronger business environment and elevate Nigeria’s global appeal. Oduwole made this disclosure in an interview […]

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