Tatan Syuflana/Pool via REUTERS
Business Economy Top Story

U.N. Sec Gen warns of global economic fragmentation at ASEAN summit

During a summit involving Southeast Asia’s ASEAN bloc, China, the United States, and other nations in Indonesia, U.N. Secretary-General António Guterres issued a warning on Thursday about the world facing a potential “great fracture” in its economic and financial systems. Guterres, in a comprehensive address that touched on geopolitical tensions, multilateral development finance, and climate Read More…

Business Economy Top Story

Wale Edun unveils Tinubu Government’s bold economic vision

In a significant development, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has unveiled a comprehensive agenda aimed at transforming the nation’s challenging economic landscape. Speaking during his inaugural press briefing in Abuja, Edun shed light on President Bola Tinubu’s visionary approach and strategies for revitalizing the economy. Edun outlined several Read More…

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World Bank Applauds President Tinubu’s Reforms, Urges Swift Palliative Rollout

Shubham Chaudhuri, the World Bank Country Director for Nigeria, has praised President Bola Tinubu’s reform policies. Speaking at a symposium in Ibadan, Chaudhuri commended the policies while urging the prompt implementation of palliative measures to mitigate their impact on Nigerians. The symposium’s theme was “Economic Opportunity Pathways to Navigating Post-Reform Challenges in Nigeria,” which the Read More…

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Economy Nigeria Top Story

Nigeria’s economic growth slows to 2.4% in Q1 2023

Nigeria’s economic growth slowed to 2.4% in the first quarter of 2023, from 3.6% in the fourth quarter of 2022, according to the Organisation of the Petroleum Exporting Countries (OPEC). The slowdown is expected to continue in 2023, with OPEC forecasting growth of 3.3% for the year. The slowdown is being driven by a number Read More…

Economy Nigeria Top Story

Tinubu Promises Palliatives After Fuel Subsidy Removal

President Bola Tinubu assured Nigerians on Wednesday in Abuja that the government was working on a framework for palliatives to address the consequences of fuel subsidy removal. He emphasized that the decision to phase out the subsidy was made in the country’s best interest and to secure future prosperity. During a courtesy visit by members Read More…

Business Economy Environment Top Story

Africa most exposed to climate risks – AfDB

The African Development Bank (AfDB) Group warns again that Africa is extremely vulnerable to climate hazards. The bank claimed in a statement published on its website on Tuesday that Africa contributed the least to global pollution. It was acknowledged in the declaration that African countries generally were experiencing difficulties in obtaining sufficient funding. “Thus, resources Read More…

Business Economy Top Story

Managing multiple shocks will boost Africa’s economy—ECA

If the continent’s numerous shocks are appropriately addressed, the Economic Commission for Africa (ECA) suggests that its economy might grow positively. This is contained in a press release by Mr. Adam Elhiraika, Director of the Macroeconomics and Governance Division of the ECA, during the experts meeting currently taking place in Ethiopia. Elhiraika stated that a Read More…

REUTERS/Temilade Adelaja
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NBS: Nigeria’s Q4 2022 trade totalled N11.722bn

Nigeria’s overall goods trade, according to the National Bureau of Statistics (NBS), was worth N11,722.44 billion in the fourth quarter of 2022. The NBS Foreign Trade in Goods Statistics Report for Q4 2022, which was released on Friday in Abuja, supports this. According to the NBS, overall exports were N6,359.61 billion while total imports were Read More…

Business Economy Top Story

Elumelu: Population census vital to economic growth

A thorough understanding of Nigeria’s population, according to United Bank for Africa (UBA) Plc Chairman Mr. Tony Elumelu, will aid in accelerating economic growth and development. Elumelu, who is also the Chairman of Heirs Holdings Group and Transnational Corporation (Transcorp) Plc, was speaking on Monday in Abuja during a donor engagement over Nigeria’s 2023 Housing Read More…