economy
News on the global economies
FG, States, LGs Share ₦1.7trn FAAC Revenue for February 2025
Abuja, Nigeria – The Federal Government, states, and local governments have shared a total of ₦1.678 trillion in revenue for February 2025, according to the Federation Account Allocation Committee (FAAC).
The allocation was finalized during the FAAC meeting held in … Continue Reading
FG Launches N300 Billion Bond Re-issue for March 2025 Auction
Nigeria’s Debt Management Office to Offer N300 Billion in Re-Opened Federal Government Bonds
The Debt Management Office (DMO) of Nigeria has announced an upcoming auction for two re-opened Federal Government of Nigeria (FGN) bonds, totaling N300 billion. This initiative is … Continue Reading
Nigeria, Brazil Launch $1.1bn Green Imperative Project to Boost Agriculture
Beyond the Green Imperative Project, Brazil is planning a broader $8 billion investment in Nigeria, targeting agriculture, livestock, and job creation. Garcete revealed that Brazil’s Vice President, Geraldo Alckmin, is scheduled to visit Nigeria in June, accompanied by a business
… Continue Reading
Nigeria’s Inflation Rate Declines to 23.18% in February – NBS
On a year-on-year basis, inflation showed a significant drop of 8.52 percentage points compared to the 31.70% recorded in February 2024. The NBS clarified that while the figures were calculated using a different base year, the decline reflects a notable
… Continue Reading
Nigeria’s Foreign Trade Hits N36.6 Trillion in Q4 2024 – NBS
The Netherlands emerged as Nigeria’s top export destination, receiving N2.09 trillion worth of goods, or 10.44% of total exports. Other key trading partners included France (N1.91 trillion), Spain (N1.74 trillion), India (N1.60 trillion), and Indonesia (N1.41 trillion). These five countries
… Continue Reading
Revealed: Obasanjo Allegedly Offered N70 Million Bribe To Lawmakers In 2006 For Third-Term Bid – Senator Adeyeye
Ex-Senator Reveals How Lawmakers Were Allegedly Offered N70 Million Each to Support Obasanjo’s Third-Term Bid
Former President Olusegun Obasanjo allegedly attempted to bribe lawmakers with N70 million each in 2006 to secure support for his failed third-term agenda, according to … Continue Reading
Dangote Refinery To Refund Customers Overpriced Petrol, Absorbs N16bn Loss
Dangote Refinery Cuts Petrol Prices, Offers Refunds to Customers Charged Above New Rates, Absorbs N16bn Loss
Dangote Petroleum Refinery has announced a refund plan for customers who purchased Premium Motor Spirit (PMS), also known as petrol, at rates higher than … Continue Reading
JUST IN: NLC Vows Nationwide Strike Over Planned Electricity Tariff Hike
Labour Union Rejects “Fraudulent” Electricity Tariff Reclassification, Accuses Government of Exploitation, and Threatens Nationwide Strike
The Nigeria Labour Congress (NLC) has issued a strong warning against the Nigerian Electricity Regulatory Commission (NERC) over its ongoing reclassification of electricity consumers, describing … Continue Reading
Zelensky Stands Firm After Trump Clash: ‘I’m Not Sure We Did Something Bad’
Trump-Zelensky Showdown Sparks Global Reactions as US Pressures Ukraine to Accept Peace Deal with Russia
Ukrainian President Volodymyr Zelensky remains hopeful about restoring ties with the United States despite a dramatic fallout with President Donald Trump, who accused him of … Continue Reading
JUST IN: Tinubu Signs Record N54.99 Trillion 2025 Budget Into Law
Tinubu Approves Record-Breaking N54.99 Trillion Budget for 2025, Aiming for Economic Growth and Stability
President Bola Tinubu has officially signed the N54.99 trillion ($36.6 billion) 2025 Appropriation Bill into law, marking a significant increase from the initial proposal. The signing … Continue Reading