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Hormuz vessel traffic slumps after brief weekend surge

  • 19th April 2026

FG borrows N100bn from unclaimed dividends

  • 19th April 2026

New mini-grid rules will unlock renewable energy expansion

  • 19th April 2026
Anthropic counters OpenAI with $1 AI offer to government branches

UK banks to access guarded Anthropic AI model

  • 18th April 2026

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Hormuz vessel traffic slumps after brief weekend surge

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Tag: GDP

Economy

Lagos GDP to hit ₦73.15trn in 2026 — Report

The Lagos Development Update 2026 report has projected significant expansion in the state’s economy, with nominal Gross Domestic Product expected to rise to N73.15 trillion this year from N62.66 trillion in 2025, supported by easing inflation, stronger consumption, and improved revenue mobilisation. Speaking at the presentation of the report, Commissioner, Ministry of Economic Planning and […]

Economy

Why Nigeria targets 7% annual GDP growth — Edun

The Minister of Finance and Coordinating Minister of the Economy, Mr Olawale Edun, has said the nation is targeting an annual seven per cent growth in its Gross Domestic Product, GDP, so as to take as many Nigerians as possible out of poverty. He noted that since the economy of the country has stabilised after […]

[ICYMI] Lagos-Calabar highway: Telcos express concerns over threats to cables
Economy featured

Lagos-Calabar coastal road to boost Nigeria’s GDP to $14trn — Experts

Experts have projected that the 750-kilometre Lagos-Calabar Coastal Road could transform Nigeria into a multi-trillion-dollar economy, raising the nation’s Gross Domestic Product from the current under $400 billion to between $1.4 trillion and $14 trillion over the next 50 years. The Development Agenda for Western Nigeria and the BRACED Commission, comprising Bayelsa, Rivers, Akwa Ibom, […]

Business featured

Textile sector GDP falls to ₦4.384trn in 2025

Nigeria’s cotton, textile, and garment industry experienced a continued downward trend in 2025. The sector’s contribution to the nation’s Gross Domestic Product declined to N4.384 trillion. This reflects ongoing structural challenges facing the industry. Data from the National Bureau of Statistics indicates a steady decline in the sector’s output over the past three years. The […]

Economy

Capital market contribution to GDP jumps to 33%

The Nigerian capital market’s contribution to the nation’s Gross Domestic Product has increased to 33 per cent from 13 per cent. This rise follows a N68.93 trillion growth in market capitalisation since April 2024. The Director-General of the Securities and Exchange Commission, Dr Emomotimi Agama, made this disclosure during his inaugural address to the newly […]

Finance

FG pledges 5% of GDP for industrial financing push

The Federal Government has announced plans to allocate up to five per cent of Nigeria’s Gross Domestic Product annually for industrial development financing. This move aims to significantly increase the manufacturing sector’s contribution to the economy. The initiative forms part of the newly launched Nigeria Industrial Plan, which was unveiled in Abuja by the Federal […]

NESG condemns FG's N3.5tn budget for education, health
Opinion

GDP under Obasanjo, Jonathan better than Tinubu’s govt — PDP chieftain

A Peoples Democratic Party presidential hopeful, Dr. Gbenga Olawepo-Hashim, has criticised the economic performance of President Bola Ahmed Tinubu’s administration. He said Nigeria’s economy is significantly weaker than it was under previous governments and challenged top economic officials to publicly defend their record. Olawepo-Hashim spoke during an interview on Channels Television, where he addressed the […]

Finance

Nigeria’s GDP to grow above 4% in 2026 – Analysts

Nigeria’s economy is projected to record stronger growth this year, with analysts forecasting real Gross Domestic Product expansion of about 4.4 per cent as the impact of ongoing reforms continues to shape economic performance. According to BusinessDay, the growth projection is supported by assessments from the Central Bank of Nigeria, leading economists and reputable investment […]

Finance

Financial sector GDP contribution drops 15% in nine months

Banks, insurance, and other financial institutions’ contribution to the economy fell by 15 per cent to N1.512 trillion in the third quarter, from N1.778 trillion in the first quarter of the year. This followed the second consecutive decline in the sector’s quarterly contribution to the nation’s Gross Domestic Product in the Q3’25. Vanguard reported that […]

Nigeria is finished if manufacturing sector dies, MAN warns
Economy

MAN projects 3.1% industry growth, 10.2% GDP contribution by 2026

The Manufacturers Association of Nigeria has projected a much improved performance of the sector in 2026, with an expectation of 3.1 per cent real growth and a contribution of 10.2 per cent to the real gross domestic product in the coming year. MAN’s Director of Research and Economic Policy Division, Dr. Oluwasegun Osidipe, who made […]

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