The Federal Executive Council (FEC) has approved Nigeria’s formal accession to the Asian Infrastructure Investment Bank (AIIB), following the presentation of a memorandum by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun. Mr. Edun, while addressing members of the Council during its meeting held on Monday in Abuja, confirmed
Nigeria has deepened its development cooperation with Norway following high-level bilateral talks held on the sidelines of the 2025 United Nations meetings in New York. Dr. Doris Uzoka-Anite, Nigeria’s Minister of State for Finance, led the country’s delegation in a strategic meeting with Ms. Stine Renate Håheim, Norway’s Deputy Minister of International Development. The meeting
On the sidelines of the 2025 United Nations meetings in New York, Nigeria and Sweden have reinforced their commitment to collaborative development efforts. Dr. Doris Uzoka-Anite, Nigeria’s Minister of State for Finance, engaged in bilateral discussions with Ms. Diana Janse, Sweden’s State Secretary for International Development Cooperation. The talks centered on enhancing partnerships in technology
The Presidency has issued a strong rebuttal to recent comments made by the President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, regarding Nigeria’s economic standing, particularly the claim that the country’s GDP per capita has significantly declined since independence in 1960. Dr. Adesina, a former Nigerian Minister of Agriculture, had stated during a
ABUJA – Nigeria can no longer afford to sustain electricity subsidies, according to the Minister of Power, Adebayo Adelabu, who warned that citizens should brace for increased and cost-reflective tariffs across all consumption categories. Speaking in Abuja during a crucial meeting with the leadership of electricity generating companies (GenCos), Adelabu stated that the existing subsidy
VFD Group Plc has reported a 27 percent increase in gross earnings, reaching N19.8 billion for the first quarter ending March 31, 2025, compared to N15.3 billion in the same period of 2024. The unaudited financial statement, which was filed with the Nigerian Exchange, reveals strong performance, particularly in investment and similar income, which surged
The Nigerian Exchange (NGX) recorded a significant increase in trading activity last week, as the total value of transactions surged by 34.6% compared to the previous week. This comes despite a marginal rise in market capitalization, reflecting cautious optimism among investors. According to data released by the NGX, a total of 2.22 billion shares valued
Nigeria’s major telecom operators have announced a combined $1 billion investment into upgrading their network infrastructure, a move they say will not only improve service quality but also significantly enhance the country’s economic output and digital inclusion efforts. With over 160 million subscribers across the nation, the telecom giants believe the substantial capital injection will
In a concerted effort to bolster professional development within the public sector, the Lagos State Lands Bureau has called on its staff to actively seek higher education and relevant certifications to enhance their career trajectories. The Permanent Secretary of the Bureau, Mr. Kamar Olowoshago, made this appeal during a recent staff engagement session. He emphasized
The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has sounded a grave warning over the state of Nigeria’s economy, declaring that the country is experiencing a deeper regression than many citizens and policymakers realise. Speaking during the 20th anniversary dinner of investment firm Chapel Hill Denham in Lagos, Dr. Adesina revealed that
