Governor of Enugu State, Peter Mbah, has called on African nations to leverage intra-Africa trade and opportunities within the African Continental Free Trade Area (AfCFTA) to drive the continent’s economic growth. Speaking at the 2025 Commonwealth Enterprises and Investment Council summit in London, Mbah emphasised that Africa possesses the necessary resources, including a large population,
In what appears to be a bold defense of the nation’s economic situation, a senior aide to President Bola Tinubu has stirred public discourse with claims that one dollar can purchase a complete meal in Nigeria, drawing stark comparisons with food costs in the United States. Speaking yesterday during an impromptu media briefing at the
Chief Osita Chidoka, the former Minister of Aviation, has praised Sterling Bank for its bold move to eliminate local transfer charges, even expressing his intention to reward the bank for setting an example that other major banks in Nigeria have yet to follow. On Friday, Chidoka opened a personal account with the bank in a
Nigerians are set to enjoy a reduction in petrol prices following a drop in global oil prices. The price of Brent crude oil has decreased to $65 per barrel from $69.90, which is expected to lead to lower costs for Premium Motor Spirit (PMS), commonly known as petrol. This development is partly attributed to the
The Italian Ambassador to Nigeria, H.E. Lacopo Foti, has reaffirmed Italy’s commitment to supporting Kaduna State’s investment initiatives by encouraging Italian businesses to explore opportunities in the region. Ambassador Foti made the declaration during a courtesy visit to Kaduna’s Deputy Governor, Dr. Hadiza Balarabe, at the Sir Kashim Ibrahim House in the state capital on
As Nigeria grapples with persistent economic challenges, citizens across the country are expressing frustration over the toll these issues are taking on their daily lives. Rising inflation, high unemployment rates, and the removal of petrol subsidies have compounded financial hardships, leaving many struggling to make ends meet. For many Nigerians, the skyrocketing cost of living
The Central Bank of Nigeria (CBN) has attributed the decline in the country’s foreign exchange reserves by $2.57 billion in the first quarter of 2025 to the financial strain of servicing foreign debts. This decrease represents a 6.29% drop from January to March 2025, with reserves falling from $40.88 billion to $38.31 billion over the
The Nigerian Diaspora Network UK organized an ambitious investment summit yesterday at the prestigious Royal Institute of International Affairs in London, bringing together business leaders, government officials, and diaspora professionals determined to reshape Nigeria’s economic landscape.The high-profile gathering, themed “Bridging Worlds: Diaspora Investment as Catalyst for Nigerian Economic Renaissance,” attracted over 300 participants, including potential
Retired employees of the Nigerian Airspace Management Agency (NAMA) are intensifying their demands for unpaid pension increments, which have remained unfulfilled since 2007. Despite multiple directives from regulatory bodies, including the Pension Commission (PENCOM), NAMA has failed to implement the required adjustments, leaving many retirees in severe financial distress. The pensioners, who played critical roles
Nigeria’s total public debt has reached a staggering N144.67 trillion as of December 31, 2024, reflecting a significant year-on-year increase of 48.58% compared to N97.34 trillion recorded at the end of December 2023. This substantial rise is attributed to both external and domestic borrowings, with external debt experiencing an 83.89% increase from N38.22 trillion to
