In a determined bid to transform its economic landscape, Nigeria is embarking on a comprehensive strategy aimed at achieving rapid growth and substantial job creation, even as it navigates the complexities of a volatile global economy. The administration of President Bola Tinubu has set an ambitious target: to propel the nation’s economy to a $1
The Federal Government of Nigeria, in partnership with the World Bank, has launched an initiative aimed at equipping young Nigerians with critical digital skills to boost their employability and foster job creation. The $10 million initiative is part of a broader effort to address youth unemployment and stimulate economic growth by focusing on digital empowerment.
The Federal Ministry of Arts, Culture, Tourism, and Creative Economy (FMACTCE), in collaboration with the Institute for Tourism Professionals of Nigeria (ITPN), has convened stakeholders to chart a sustainable pathway for leveraging Nigeria’s coastal resources and marine biodiversity to boost tourism and economic growth. The one-day seminar, themed “Development of National Blue Economy and Coastal
Nigeria’s Excess Crude Account (ECA) now stands at a meagre $473,754.57, according to the latest disclosure by Shamseldeen Ogunjimi, the Accountant-General of the Federation. Ogunjimi made this revelation during the 149th National Economic Council (NEC) meeting presided over by Vice President Kashim Shettima at the Presidential Villa, Abuja. This balance, unchanged for several months, marks
Nigeria is currently in advanced discussions with global financial institution JP Morgan to re-enter its Government Bond Index for Emerging Markets (GBI-EM), a move that is expected to bolster investor confidence and attract significant capital inflows into the country’s bond market. This announcement was made by the Director-General of the Debt Management Office (DMO), Patience
In a significant push to improve Nigeria’s trade facilitation and ease of doing business, the Federal Government has officially inaugurated the Ports and Customs Efficiency Committee (PCEC). The initiative, a collaborative effort between the Presidential Enabling Business Environment Council (PEBEC) and the Nigerian Ports Authority (NPA), was launched today at the NPA headquarters in Lagos,
The Attorney General of the Federation (AGF), Lateef Fagbemi (SAN), has announced the initiation of an investigation into Mele Kyari, the former Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), following serious allegations involving a $2 billion crude-for-loan deal. This investigation is in response to protests and growing public concern over a
The Federal Government has approved tax waivers for 107 companies, including major players such as Dangote Group and Mikano International Limited, under its Pioneer Status Incentive (PSI) scheme. The move, aimed at spurring investment and driving economic growth, was confirmed in the latest report by the Nigerian Investment Promotion Commission (NIPC). According to the NIPC’s
The city of Abuja is set to host key stakeholders in Africa’s data protection and economic sectors as the Nigeria Data Protection Act–Regional Africa Data Protection Platform (NADPA-RAPDP) Conference and Annual General Meeting convenes from May 6 to 8, 2025. The high-profile event, scheduled to take place at the Transcorp Hilton Hotel, will feature a
In a bid to prioritize passenger safety and adhere to international aviation standards, Air Peace, one of Nigeria’s leading airlines, has announced the temporary grounding of all its flights nationwide. The decision comes in response to the ongoing strike action by the Nigerian Meteorological Agency (NiMET) staff, which has significantly impacted the airline’s ability to
