Tinubu Tells IMF That Nigerians Are Happy With His Economic Reforms
President Bola Tinubu has said Nigerians are now seeing the positive results of his administration’s reforms. Since he assumed office in May 2023, Tinubu has scrapped subsidy on petroleum products and floated the naira, the result of which worsened inflation and subjected the masses to hardship. But receiving the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, on the...
Tinubu Piloting Nigeria To Economic Recovery — Shettima
Vice President Kashim Shettima says Nigeria is currently on the path of economic recovery. Shettima stated that the country’s Gross Domestic Product (GDP) grew by 2.98 percent year-on-year in real terms in the first quarter of 2024. According to him, the performance of the GDP in the first quarter of 2024 was driven mainly by the services sector, which recorded a...
FG Secures Fresh $134m Loan From AfDB To Boost Dry Season Farming
The Federal Government has secured a loan facility of $134million from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country. This is contained in a statement issued by Anthonia Eremah, Chief Information Officer, Ministry of Agriculture and Food Security, on Thursday, in Abuja. Minister of Agriculture and Food Security, Sen. Abubakar Kyari, made this...
IMF Says Naira Showing Signs Of Stability
The International Monetary Fund (IMF) has said Nigeria’s currency, the naira, is showing signs of stability. This, it said, is due to recent interest rate hikes and the clearing of foreign exchange backlogs by the Central Bank of Nigeria (CBN). The IMF made this known during a press briefing in Washington DC on Tuesday. “In Nigeria, rate hikes and the clearing of...
Senator Kalu’s Ambitious Plan To Make Abia North The Food Basket Of Nigeria Amidst Economic Hardships
As Abia North, like other regions in Nigeria, faces a severe economic crisis marked by hunger and unemployment, Senator Orji Uzor Kalu is spearheading an initiative to transform the region into the nation's food basket. This visionary plan aims to address the immediate hardships of the populace while laying the foundation for long-term economic stability and growth. THE CURRENT SITUATION Like many...
Tinubu Writes National Assembly, Wants 2024 Budget Increased By ₦6.2tn
President Bola Tinubu, on Wednesday, requested the Senate to amend the 2024 Appropriation Act and the 2023 Finance Act by increasing the budget with ₦6.2tn. Tinubu’s request was contained in a letter addressed to the President of the Senate, Godswill Akpabio, and read at plenary on Wednesday. The President in the letter, said the move was pursuant to Section 58, sub-section...
Budget Office: Ben Akabueze Out, Tanimu Yakubu Kurfi In
President Bola Ahmed Tinubu has approved the appointment of Mr. Tanimu Yakubu Kurfi as the Director-General of the Budget Office of the Federation, following the expiration of the tenure of Mr. Ben Akabueze. Ajuri Ngelale, Special Adviser to the President on Media and Publicity, in a statement said Yabuku is an accomplished economist and was Chief Economic Adviser to late...
FG Has Secured $30bn Investment In Last One Year, Says Minister Of Trade And Investment
Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite said Nigeria had secured an investment commitment of over $ 30 billion in the last one year. She spoke on plans to establish commercial courts across the country to adjudicate business cases. She said the government had approved N430 million to fix the Lagos International Trade Fair Complex, adding that the complex...
Tinubu’s Implementation Of Fuel Subsidy Removal, Coup In Niger Was Poor — Obasanjo
Former President Olusegun Obasanjo has knocked the administration of President Bola Tinubu over poor implementation of the removal of subsidy from petroleum products as well as the floating naira. Obasanjo said though the policies were necessary, they were wrongly implemented. According to a statement made available to journalists on Sunday by his Special Assistant on Media, Kehinde Akinyemi, Obasanjo also condemned...
Nigeria’s Ten Years Economic Mismanagement Cannot Be Reversed In One Year — Sanusi
A former Central Bank of Nigeria governor and the 14th Emir of Kano, Muhammadu Sanusi, says it will take a while to for the Nigerian economy to bounce back from 10 years of mismanagement. He said that realistically, it requires more than six months or one year for the economic mismanagement of the last 10 years to be undone. The former...
