Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has described Micro, Small, and Medium Enterprises (MSMEs) as the backbone of the Nigerian economy. Oduwole stated this on Wednesday in Makurdi at the opening of a 2-day Benue Inventors and Entrepreneurs Exhibition 2025. The minister stated that MSMEs contribute...
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The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has announced plans to establish a Compliance Department by February. Cardoso made the announcement on Thursday during the launch of 2025 Macroeconomic Outlook Report, titled: “Stabilisation in Transition: Rethinking Reform Strategies for 2025 and Beyond” by the...
The Central Bank of Nigeria (CBN) has announced that the 2025 economic indices indicate a positive outlook, with the nation’s GDP expected to accelerate to 4.17 per cent for faster economic growth. Deputy Governor, Economic Policy Directorate, CBN, Mr Muhammad Abdullahi, revealed this on Tuesday during the 11th edition...
The Federal Government has said the Livestock sector contributes about 30 per cent of the rural economy and 10 per cent of the country’s Gross Domestic Product (GDP) in the agricultural sector. The Minister of Livestock Development, Alhaji Idi Maiha, stated this at the closing of the technical workshop...
Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, said closing gender gaps has the potential to add N15 trillion to Nigeria’s Gross Domestic Productivity (GDP) annually by 2025. Sulaiman-Ibrahim stated this on Thursday in Abuja at the joint UN Accountability Forum and Orange/Lighting ceremony, themed: ” Towards Beijing +30: Unite...
By DAVID IORJA, Abuja- President Bola Tinubu has assured Nigerians of better economic output as the economy continues to expand following the newly released third quarter Gross Domestic Product report by the National Bureau of Statistics. According to the NBS, Nigeria’s GDP grew by 3.46%, compared to the 3.19% growth...
Nigeria Macro-Economic Outlook released by a data-driven company, Veriv Africa, has said economic growth is projected to increase to 3.64 per cent in 2025, due to government’s policies. It projects that government policies can positively impact the economy with a 3.64 per cent GDP growth rate in 2025. Mr...
By CHRISTIANA LOT, Jos – The Nigerian Veterinary Medical Association (NVMA) has emphasized its capacity to significantly enhance Nigeria’s Gross Domestic Product (GDP) through qualitative livestock production. This was revealed by the association’s National President, Dr. Moses Arokoyo, during a press briefing in Jos on Saturday ahead of NVMA’s...
The World Health Organisation (WHO) has raised concern about the potential economic toll of Antimicrobial Resistance (AMR) If left unchecked. The WHO said that the situation could cause Nigeria and low income countries a reduction in Gross Domestic Product (GDP) of up to four per cent by 2030. Dr...
Nigeria’s Gross Domestic Product (GDP) for the second quarter of 2024 grew by 3.19%, the National Bureau of Statistics (NBS) has said. In its Q2 2024 GDP Report on Monday, the Bureau said Nigeria’s GDP rose year-on-year in real terms in the second quarter of 2024. “This growth rate...
The Nigeria Union of Local Government Employees (NULGE) has called for financial, administrative and political autonomy for local governments. The NULGE National President, Mr Ambali Olatunji, said in Lagos on Saturday that the autonomy was important for Nigeria to grow its gross domestic product more and curb insecurity....
The Independent Media and Policy Initiative (IMPI), has expressed confidence that contrary to belief in certain quarters Nigeria would witness economic growth in 2024. The policy group expressed the confidence in a statement signed by its Chairman, Mr Niyi Akinsiju, in Abuja on Tuesday. Akinsiju said the group...
The real Gross Domestic Product (GDP) growth for Africa is expected to average 3.8 per cent and 4.2 per cent in 2024 and 2025. The African Development Bank (AfDB) said this in its latest Macroeconomic Performance and Outlook (MEO) report. In a statement issued on the Bank’s website,...
The Central Bank of Nigeria (CBN) Governor, Mr Yemi Cardoso, has said the economic policy proposals of President Bola Tinubu’administration can achieve a GDP of one trillion Naira in eight years. Cardoso made the declaration in Marrakesh, Western Morocco on Thursday on the side-line of the...
By CALLISTUS OFFOR, Abuja – The telecommunications sector’s contribution to the nation’s Gross Domestic Product (GDP) has increased significantly to 16 per cent in the second quarter of 2023, according to the data reported by the Nigerian Communications Commission (NCC) based on the computation by the Nigeria...
The National Information Technology Development Agency (NITDA) says that digitalisation of Micro, Small and Medium Enterprises (MSMEs) could increase Nigeria’s Gross Domestic Product (GDP) by 50 billion US dollars. The Director-General, NITDA, Mr Kashifu Inuwa Abdullahi, said this during his visit to the GIZ/Digital Transformation Centre, Nigeria office as a special guest at its Techmybiz pitch-a-thon event...
By CALLISTUS OFFOR, Abuja – Nigerian Communication Commission (NCC) says the telecommunications and ICT services have contributed about N2.508 trillion to Nigeria’s GDP in the first quarter of 2023. A statement issued on Thursday by NCC Director, Public Affairs, Mr Reuben Muoka, said the Commission quoted the figures released...
The Director-General of the World Trade Organisation ( WTO), Dr Ngozi Okonjo-Iweala, has advised state governors in Nigeria against excessive borrowing. Okonjo-Iweala said this on Monday in Abuja at the Nigeria Governors’ Forum (NGF) 2023 induction for newly elected governors with the theme “Governing for Impact (Building Sub-national Governance)....
African Development Bank (AfDB) says the African continent faces an annual GDP shortfall that could exceed 127.2 billion dollars by 2030. It stated on Friday that the shortfall would occur if current trends in climate finance flow into Africa continued. “Africa may lose as much as 12 per cent...