ECONOMY

The World Bank has maintained its forecast for Nigeria’s economic growth at 3.6 per cent in 2025, even as it slashed the global growth outlook due to escalating trade tensions and heightened uncertainty in the global economy. In its latest Global Economic Prospects report released on Tuesday, it noted that...

The Minister of Budget and Economic Planning, Atiku Bagudu has said President Bola Tinunu administration has implemented bold reforms that have positioned the nation's economy for sustained recovery and growth, despite short-term pain. The minister said this while addressing State House Correspondents after a courtesy call on Tinubu in his...

THE Central Bank of Nigeria (CBN) report has indicated that economic activities expanded for the sixth consecutive month at 52.1 index points in May 2025. Disclosing this in its Purchasing Managers Index (PMI) Report for May 2025, CBN also noted that the industry (51.6 index points), service (51.7 index points)...

President Bola Tinubu has written to the National Assembly requesting legislative approval for several fresh loans totalling N40.5 trillion amidst a worsening economic climate for the coy.  In three separate letters transmitted to the National Assembly on Tuesday and read by Senate President Godswill Akpabio, Mr Tinubu requested the National...

Finance Minister and coordinating Minister of the Economy, Mr. Olawale Edun, has charged the New Board of Directors of the Asset Management Corporation of Nigeria (AMCON) to speed up debt recoveries. The minister gave the charge on Wednesday in Abuja during the Inauguration of the New Board of AMCON. The...

BudgIT , a prominent civic tech organisation promoting transparency and accountability in Nigeria’s public finance ,has uncovered 11,122 projects valued at N6.93 trillion inserted by the National Assembly into the 2025 Federal Government Budget. According to the body, "What began as isolated irregularities has,over the years, evolved into a deeply...

BudgIT, a prominent civic-tech organisation promoting transparency and accountability in Nigeria’s public finance, has raised significant concerns over the Federal Government’s 2025 Budget, describing its formulation as legally questionable and lacking adequate disclosure, particularly regarding its revenue framework. Recall that the Presidency initially submitted a proposed expenditure of N47.9 trillion,...

Tajudeen Abbas, Speaker of the House of repResentatives, has said that over 75 percent of goods offloaded in the Benin Republic are bound for Nigeria, blaming inefficiencies and high costs at Nigerian ports. Abbas spoke on Wednesday when he received a delegation from the Presidential Enabling Business Environment Council (PEBEC),...

PwC Nigeria has released the Nigerian findings of its 28th Annual Global CEO Survey, offering insights into business leaders' perspectives across industries. The report highlights optimism, with 61% of Nigerian CEOs expecting global economic growth to improve and 64% anticipating positive shifts in Nigeria’s economy in 2025. Reflecting a commitment...

The President of African Development Bank (AfDB), Dr, Akinwumi Adesina, has advised the Federal Government of Nigeria to prioritize fixing the country’s power challenges for development, stressing that without reliable power, Nigeria’s economy would not achieve its expected growth.. He stated this while delivering a keynote address at the 20th...