ECONOMY

Nigeri’s headline inflation rose to 34.80 per cent in December 2024, the National Bureau of Statistics (NBS) has reported. The NBS gave the latest figure in its Consumer Price Index (CPI) report released on Wednesday, January 15. The statistics office uses the CPI to measure the rate of change in prices of...

BudgIT, a leading civic-tech organisation promoting transparency, accountability, and effective service delivery in Nigeria, has observed certain legacy issues with the 2025 Federal Government Proposed Budget and calls on the National Assembly to proactively address the irregularities, exercise its “Powers of the Purse” responsibly, allow robust public participation in the...

Lagos State Governor Babajide Sanwo-Olu has signed the 2025 Appropriation Bill into law, approving a record-breaking budget of N3.366 trillion. The budget, which is geared towards advancing the Sanwo-Olu/Hamzat administration’s developmental agenda, focuses on infrastructure, education, healthcare, and economic growth. During the signing ceremony, the governor reiterated his administration’s commitment...

Governor Ademola Adeleke has assured Osun people that the newly signed budget 2025 will be rigorously implemented for the benefit of Osun people. He made the pledge while signing Budget 2025 into law, emphasizing that the signing ceremony “further demonstrates our readiness to forge ahead in the new year with...

President Bola Tinubu said, in his maiden media chat on Monday, that the tax reforms bill before the National Assembly had come to stay. The President said his administration must retool the economy and that he had the capacity to focus on what the country needed. “We cannot continue to...

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has disclosed that Nigeria needs to invest $20 billion annually to achieve its economic targets by 2027. He made this statement on Friday during the Citizens and Stakeholders Engagement on the Implementation of Presidential Priorities and Ministerial...

"Today, I presented the proposal for the ‘2025 Budget of Restoration: Securing Peace, Rebuilding Prosperity’ to the Joint Session of the National Assembly. This budget reflects our administration’s unshakable commitment to stabilising our economy, improving lives, and paving the way for a brighter future for every Nigerian. “The time for...

Nigeria’s headline inflation rate rose to 34.60% in November 2024, a 0.72% point increase from October’s 33.88%  The National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation rate rose to 34.60 per cent in November 2024, a 0.72 percentage point increase from October’s 33.88 per cent. The NBS disclosed...

A new report has said that Nigeria’s rising population, low literacy are blocking industrialization in the country. The report by Renaissance Capital reveals that Nigeria’s alarmingly low literacy rate of sixty per cent will remain a major drag against industrialization in Africa’s most populous nation. The 2025 Global and Nigeria...

Prominent legal scholar and Senior Advocate of Nigeria, Itse Sagay, has cautioned President Bola Tinubu’s administration against implementing economic policies recommended by the World Bank and International Monetary Fund (IMF), arguing that such prescriptions exacerbate hardship for Nigerians. Speaking in an interview with The PUNCH, Sagay criticised the decision to...