Abuja, Nigeria | July 31, 2025 — The African Development Bank (AfDB) has approved a grant of $1.2 million to fund a comprehensive feasibility study on battery energy storage systems (BESS) in Nigeria, as part of ongoing efforts to strengthen the nation’s energy transition and grid reliability. The funding, provided through AfDB’s Sustainable Energy Fund
Abuja, July 27, 2025 Nigeria’s booming scrap and waste recycling industry is setting its sights on generating an additional five million jobs before the end of 2025, as the sector continues to expand across urban and rural communities. The National Environmental Standards and Regulations Enforcement Agency (NESREA), in collaboration with stakeholders in the circular economy,
Lagos, Nigeria, July 25, 2025 – The National Bureau of Statistics (NBS) has released the Gross Domestic Product (GDP) data for the first quarter of 2025, highlighting the major sectors driving Nigeria’s economy amid ongoing fiscal reforms and policy adjustments under President Bola Ahmed Tinubu’s administration. According to the report, the agricultural sector maintained its
The Federal Government of Nigeria has restated its strong commitment to forging closer economic ties with the Arab Republic of Egypt, with plans underway to establish a Nigeria-Egypt Joint Investment Council aimed at deepening strategic collaboration between both nations. This was made known by the Honourable Minister of Finance and Coordinating Minister of the Economy,
The recently concluded local government elections in Nigeria are emerging as more than just a political event, they represent a critical turning point with far-reaching implications for the country’s economic trajectory. While local polls often attract less public attention than state or federal contests, their outcomes play a central role in determining the pace and
A new survey of top business executives has revealed growing optimism about Nigeria’s economic outlook, though many remain cautious about key challenges that could hamper progress. The survey, which gauged the sentiments of Chief Executive Officers (CEOs) across diverse sectors, indicated a general belief in the country’s economic potential, citing recent policy reforms, improved infrastructure
July 11, 2025 | Abuja, Nigeria – Despite mounting global uncertainties, including intensifying trade tensions and the ongoing conflict between Israel and Iran, Nigeria’s economy has shown notable resilience in the first half of 2025, according to a new macroeconomic report by FSDH Merchant Bank. The report highlights that Nigeria has managed to sustain economic
Abuja | July 10, 2025 — The Nigerian Senate has called on the Federal Government to end the continuous use of public funds to subsidize power distribution companies (DISCOs), warning that the current arrangement is economically unsustainable and counterproductive. During plenary on Tuesday, lawmakers decried the heavy financial burden placed on the federal budget through
Abuja, July 9, 2025 The Federal Government has said that Nigeria’s economy is on the path to recovery, crediting the steady improvement to the bold and far-reaching reforms of President Bola Ahmed Tinubu’s administration. Speaking on Wednesday in Abuja during a courtesy visit by the newly elected executives of the Nigerian Guild of Editors, the
Lagos, Nigeria – July 7, 2025 The Lagos State Government, in a bold move to strengthen its fiscal position and enhance accountability, has hosted a Groundbreaking Revenue Recovery Summit, bringing together key stakeholders across public and private sectors to address revenue leakages and improve internal generation. Held at the Adeyemi Bero Auditorium in Alausa, Ikeja,
