economy
News on the global economies
Nigeria’s Public Debt Hits N142.3 Trillion in Q3 2024
The sharp increase in Nigeria’s public debt, coupled with the naira’s continued depreciation and growing reliance on domestic borrowing, has raised questions about Nigeria’s debt sustainability.
Abuja – Nigeria’s total public debt rose to N142.3 trillion as of September 30, … Continue Reading
PalmPay Boosts Financial Growth with N4bn Payout in 2024
Speaking on the achievement, PalmPay’s Head of Marketing and Communications, Femi Hanson, said, “Our mission with our Wealth products is to make saving simple, rewarding, and accessible for every Nigerian.
Lagos, Nigeria – PalmPay has announced the disbursement of N4 … Continue Reading
Governor Alex Otti Secures $2B Investment To Propel Digital Economy And Create 200,000 Jobs In Abia
Alex Otti Secures $2 Billion ICT Investment: A Transformative Leap Toward Becoming Nigeria’s Leading Digital Hub, with 200,000 Jobs Set to Revolutionize Abia State And Nigeria’s Economy
In a significant boost to Abia State’s economic development, Governor Dr. Alex Otti … Continue Reading
Aviation Minister announces plans for aircraft manufacturing firm
Minister of Aviation Unveils Advanced Maintenance Facility and Upcoming Aircraft Manufacturing Company
Festus Keyamo, the Minister of Aviation and Aerospace Development, has launched a cutting-edge maintenance, repair, and overhaul (MRO) facility led by XEJet. During the groundbreaking event for … Continue Reading
JUST IN: Oando Shares Surge Over 14% Following Strong Earnings Report
LAGOS, NIGERIA – Oando shares has experienced a significant boost in … Continue Reading
Fintech Transactions Boost FG’s EMTL Revenue to Record N31.2b in December 2024
Abuja, Nigeria – The Federal Government’s revenue from the Electronic Money Transfer Levy (EMTL) reached an all-time high of N31.2 billion in December 2024, following the extension of the levy to fintech transactions.
This represents a 107% increase compared to … Continue Reading
Donald Trump’s Day One Plans: An Agenda To Shake Up America As US President
Donald Trump’s Return to the White House: Bold Executive Orders Poised to Overhaul Immigration, Economy, Climate Policies, and Social Issues from Day One
Donald Trump has promised to “make heads spin” as he takes office again on Monday, with a … Continue Reading
LGAs Move to Open CBN Accounts for Direct Federal Allocations
Speaking to newsmen, the National Publicity Secretary of the Association of Local Governments of Nigeria (ALGON), Hamisu Anani, confirmed the steps being taken by LGAs to open CBN accounts. He noted that while progress was being made, logistical challenges persist,
… Continue Reading
FG, States, LGs Share N1.424trn Revenue for December 2024 – FAAC
Abuja, Nigeria – The Federal Government, States, and Local Government Councils distributed a total revenue of N1.424 trillion for December 2024, marking a 17.54% decline compared to the N1.727 trillion shared in November 2024. This represents a reduction of N303 … Continue Reading
$52.88M Recovered From Diezani Alison-Madueke’s Loot To Fund Nigeria’s Electrification And Counter-terrorism Projects
Recovered Funds to Drive Renewable Energy Expansion, Counterterrorism Initiatives, and Justice Sector Reforms in Nigeria
In a landmark agreement, the United States has pledged to transfer $52.88 million forfeited from corruption in Nigeria’s oil industry to Nigeria. These funds, recovered … Continue Reading