August 26, 2025 — Nigerians have paid at least N2.56 billion in ransoms to kidnappers between July 2024 and June 2025, underscoring the alarming rise of the country’s kidnap-for-ransom industry. According to recent security data, the figure represents a staggering 144 percent increase compared to the N1.05 billion ransom payments recorded in the corresponding period
President Bola Ahmed Tinubu has reaffirmed that the decision to remove fuel subsidy on the very day of his inauguration was a painful but necessary action aimed at steering the Nigerian economy away from the brink of collapse. The president, through the Minister of Information and National Orientation, Mohammed Idris Malagi, emphasized the rationale behind
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
Abuja, Nigeria – June 14, 2025 Anambra State Governor, Prof. Chukwuma Charles Soludo, has praised President Bola Ahmed Tinubu for what he described as decisive economic leadership that rescued Nigeria’s economy from near collapse and restored public finances to a sustainable path. Speaking during a panel session at the 2025 Democracy Day Public Lecture in
The Minister of Solid Minerals Development, Dr. Dele Alake, has disclosed that President Bola Ahmed Tinubu’s sweeping reforms in Nigeria’s mining sector have resulted in a sixfold increase in government revenue, along with over $800 million in foreign direct investment within a year. Speaking during a feature interview for an upcoming State House documentary to
In a significant development aimed at easing the economic burden on Nigerians, the Dangote Petroleum Refinery has announced a nationwide reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. The new pricing takes effect immediately and cuts fuel prices by ₦15 per litre across all distribution zones in the country.
The 42nd edition of Nigeria’s national economic brief has spotlighted a significant shift in the country’s fiscal trajectory, with debt repayment emerging as a central focus for both federal and state governments. The development comes in the wake of key policy reforms introduced by President Bola Ahmed Tinubu aimed at restructuring the economy and enhancing
President Bola Ahmed Tinubu has taken a major step toward overhauling Nigeria’s tax system with the introduction of sweeping reforms aimed at improving fiscal efficiency, strengthening revenue generation, and promoting equitable development across the country. The reform initiative, which includes four crucial tax-related bills, has received backing from the National Assembly and is expected to
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
In a pivotal move aimed at fostering Nigeria’s digital transformation, Honourable Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, held a crucial discussion with Interswitch, a leading Nigerian digital payments platform, to explore how the private sector can play a central role in advancing the nation’s economic reforms and digital infrastructure.
