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Nigeria Economy

Senate Spokesman Denies Paying Ransom For Schoolchildren

Senate spokesman Yemi Adaramodu rejects claims of ransom payments in recent school abductions as lawmakers launch a probe into security lapses.

EFCC Summons Former Justice Minister Malami

EFCC invites former Justice Minister Abubakar Malami for renewed questioning as investigators expand their probe and revisit decisions from his time in office

Food Imports Surge 45% as Local Production Struggles to Keep Up

Nigeria’s food imports jumped 45% in H1 2025 as insecurity and weak agricultural output hurt local production capacity.

Lekki Zone MD: Nigeria Remains Investor-Friendly

Lekki Free Zone MD Val Attah insists Nigeria remains viable investment destination, backed by reforms and strong investor confidence.

Fuel Tax Won’t Begin Until Naira Strengthens or Oil Price Falls — Oyedele

Oyedele says Nigeria will delay 5% fuel surcharge until naira appreciates or oil prices drop to avoid price hikes.

Otedola Celebrates Dangote’s $20 Billion Refinery

Femi Otedola praises Aliko Dangote’s $20 billion refinery expansion as a generational legacy reshaping Nigeria’s oil and energy landscape.

Dangote To Double Refinery Output To 1.4 Million Barrels Daily

Dangote plans to double his Lagos refinery output to 1.4 million barrels daily to boost Africa’s energy supply.

IMF Warns Nigeria on Rising Debt, Oil Risks Despite Reform Progress

IMF praises Nigeria’s economic reforms but warns that debt costs, fiscal pressures, and oil volatility could threaten recent recovery gains.

Presco Profit Doubles on Strong Palm Oil Demand

Presco Plc reported over 100 percent profit growth in nine months, driven by strong palm oil demand, higher output, and improved efficiency.

Nigeria’s Raw Material Imports Hit N3.53trn in First Half of 2025

Nigeria’s raw material imports rose by 19.7% to N3.53 trillion in H1 2025, highlighting structural weaknesses and the failure of the country’s import substitution policy, according to industry experts.

Nigeria Losing Billions to Illicit Financial Flows, Says IMF

The IMF says illicit financial flows are worsening Nigeria’s revenue crisis as it pledges renewed support to track illegal fund movements.

IMF Lifts Nigeria’s 2025 Growth Outlook to 3.9%

IMF raises Nigeria economic growth forecast 2025 to 3.9 percent, driven by stronger fundamentals, investor confidence, and fiscal reforms.

Peter Obi Slams “Inhumane” Demolitions, Urges Government

Peter Obi condemns inhumane demolitions across Nigeria, warning they worsen poverty and threaten the economic stability of millions.

Foreign Firms Corner Nigeria’s N4.8trn Non-Oil Export Boom

Local exporters lament losing out in Nigeria’s non-oil export boom as foreign investors dominate the sector amid weak funding and policy hurdles.

Latest articles

Senate Spokesman Denies Paying Ransom For Schoolchildren

Senate spokesman Yemi Adaramodu rejects claims of ransom payments in recent school abductions as lawmakers launch a probe into security lapses.

EFCC Summons Former Justice Minister Malami

EFCC invites former Justice Minister Abubakar Malami for renewed questioning as investigators expand their probe and revisit decisions from his time in office

Dangote Signs New Deals to Advance Fertilizer Expansion Plans

Dangote accelerates fertilizer growth with new deals to expand urea capacity in Nigeria and build a major new plant in Ethiopia.

Kaduna Widows Receive Free Homes from Adashe Initiative

Kaduna widows and orphans receive 100 free homes through the Adashe housing project, combining shelter, training, and empowerment for long-term self-reliance