Nigeria’s widely reported improving Gross Domestic Product (GDP) growth is coming under increasing scrutiny as businesses and households continue to contend with high production costs, weak purchasing power and structural constraints that limit the extent to which headline economic growth is felt across the wider economy. The National Bureau...
gdp
Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, has called for stronger support for Nigeria’s manufacturing sector, saying the country must deliberately move from a consumption-driven economy to one built on production, job creation and exports. Obi made the call on Thursday in a post on X after attending...
President Bola Ahmed Tinubu has welcomed the encouraging news on Monday from the National Bureau of Statistics, which shows that Gross Domestic Product (GDP) for the second quarter of 2026 grew by 4.43 per cent, up from 4.23 per cent in the second quarter of 2025. The report also...
Nigeria’s economy maintained a strong growth trajectory in the second quarter of 2026, with real Gross Domestic Product (GDP) expanding by 4.43 per cent year-on-year, according to the Federal Ministry of Finance. The latest economic performance represents an improvement over the 4.23 per cent recorded in the second quarter...
Nigeria has been ranked among the world’s 60 poorest countries by GDP per capita at purchasing power parity, according to a 2026 ranking by Global Finance magazine, with African nations accounting for the overwhelming majority of countries at the bottom of the list. Nigeria placed 56th on the list, with...
Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musawa, has disclosed that the Creative sector of the Economy is roughly contributing 2.3% of the GDP, against an official target of N100 billion GDP contribution and 2 million jobs by 2030, under the Renewed Hope Agenda of President Bola...
Assistant Comptroller General of Customs, Nsikan Umoh, has stressed that integrity and compliance remain critical to Nigeria’s economic growth and national development. Speaking during a working visit to the Nigeria Customs Service Sokoto/Zamfara Area Command, she said, “National development requires all hands on deck. When stakeholders comply with trade...
President Bola Tinubu has met with global investors in Paris, France, emphasising transparency and fiscal discipline, and explaining the rationale for the swift implementation of bold reforms. At the meeting, the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, highlighted Nigeria’s strong GDP growth in dollar...
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has welcomed new data from the National Bureau of Statistics (NBS) showing that Nigeria’s real GDP grew by 4.07% in the fourth quarter of 2025 (Q4 2025). Edun said this marks the second time in a decade—excluding the...
The Nigerian Communications Commission (NCC), has commenced a comprehensive study on competition in the telecommunications sector to address concerns around market dominance and ensure fair, effective and sustainable competition. NCC said this during a stakeholders’ forum on the Study of Competition in the Nigerian Telecommunications Industry in collaboration with...
There are hardly any economic indices in Nigeria today that have not improved since President Tinubu assumed office on Monday, May 29, 2023. Below, I have listed ten, just in case you are misled by disgruntled politicians into thinking you are worse off today than you were in 2023....
Nigeria’s trade surplus has risen to six percent of the country’s Gross Domestic Product (GDP), according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso. Cardoso disclosed this while speaking at the ongoing IMF/World Bank Group Annual Meetings in Washington, D.C., where he is leading Nigeria’s...
Rhetoric vs. Reality: A minister disconnected from mining economics Nigeria’s Minister of Solid Minerals Development, Dr. Dele Alake, has made bold promises about transforming the country’s mining sector. His stated aspiration for mining to contribute “around 50 percent of GDP” has captured headlines and generated excitement about Nigeria’s mineral...
Director-General of the National Information Technology Development Agency (NITDA), Dr. Kashifu Inuwa, has declared that leveraging Artificial Intelligence (AI) within the digital economy could propel Nigeria’s Gross Domestic Product (GDP) growth by up to 20%. Speaking at the 3rd Economic Confidential Lecture in Abuja on Wednesday, Inuwa emphasized AI’s...
Nigeria’s real Gross Domestic Product (GDP) expanded by 3.13% year-on-year in the first quarter of 2025, according to a Monday report from the National Bureau of Statistics (NBS). This growth reflects a notable improvement over the 2.27% recorded in Q1 2024, propelled primarily by the services and industry sectors....
The Federal Airports Authority of Nigeria (FAAN) on Friday said that aviation now contributes 1.7 billion dollars to Nigeria’s Gross Domestic Products (GDP). The Managing Director of FAAN, Mrs Olubunmi Kuku, said that the huge contribution was a testament to the efficacy of market-driven solutions in Nigeria’s aviation industry....
The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, has said President Bola Tinubu is making significant efforts to raise Nigeria’s Gross Domestic Product (GDP) through increased contributions from the digital economy. Tijani made the disclosure on Thursday during a visit to his alma mater, Anglican Grammar...
By DAVID IORJA, Abuja- The Nigerian government has sharply refuted claims by African Development Bank (AfDB) President Akinwumi Adesina that Nigerians are economically worse off today than in 1960, calling his GDP per capita figures inaccurate and his conclusions flawed. In a detailed statement shared on X on Monday,...
Group Managing Director, United Bank for Africa (UBA), Mr Oliver Alawuba, has said Nigeria requires a double-digit Gross Domestic Product (GDP) growth to achieve the projected one-trillion dollar economy target by 2030. Alawuba made this remark on Monday in Abuja, at the ongoing 36th Edition of the Finance Correspondents...
Africa’s real Gross Domestic Product (GDP) is projected to grow by 4.0 per cent in 2025, in spite global economic fragility, says Afreximbank Research Report. The 2025 African Trade and Economic Outlook (ATEO) Report, a research by Afreximbank, said Africa’s real GDP is projected to reach 4.1 per cent...