Britain’s economy grew more than expected in the first quarter, official data showed Thursday, covering the period before business tax hikes and US President Donald Trump’s tariffs blitz took effect. The UK’s gross domestic product (GDP) grew by 0.7% between January and March, according to a statement from the Office for National Statistics (ONS). This…
The African Export-Import Bank has launched a $1 billion Africa Film Fund to revolutionise the film and creative industry in the continent. The development comes after the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, disclosed that the bank has already raised $19bn for the take-off of the Africa Energy Bank in Abuja. The…
.The Lagos State Governor ,Babajide Sanwo-Olu’s said his administration is actively working to elevate Lagos’s cultural economy. He gave the assurance during his visit to the QDance Center, a new creative hub in Lagos Island designed to nurture talent,enable performances, promote unique cultural expressions on a global stage. He said his administration’s efforts is committed…
A high-level delegation from the World Bank, led by Ousmane Diagana, Vice President for Western and Central Africa, met on Monday with the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to reaffirm support for President Bola Tinubu’s economic reform agenda and development priorities. Diagana lauded Nigeria’s recent GDP growth of…
Nigeria has officially joined the European Bank for Reconstruction and Development (EBRD). This addition increases the total number of EBRD shareholders to 77, including 75 national shareholders, the European Union, and the European Investment Bank. Nigeria applied to join the bank in April 2024, and the EBRD’s Board of Governors approved its membership in May…
Nigeria’s Gross Domestic Product (GDP) grew by 3.84% in the fourth quarter of 2024, according to a report from the National Bureau of Statistics (NBS) released on Tuesday. This marks an improvement over the 3.46% growth rate recorded in the third quarter of 2024 and is also higher than the 3.46% growth seen in the…
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says the apex bank is determined to curb inflation and stabilise the nation’s economy. He stated this in Abuja during the Monetary Policy Forum 2025, featuring fiscal authorities, legislative, private sector, development partners, subject-matter experts, and scholars. Speaking on the theme, ‘Managing the Disinflation…
On Friday, the Chief Economist at SPM Professionals, Paul Alaje, called on the federal government to exercise caution when interpreting advice from global financial institutions like the World Bank and the International Monetary Fund (IMF). The exchange rate is “the elephant in the room.” Everything this administration has accomplished will be lost if the value…
According to Wale Edun, Minister of Finance and Coordinating Minister of the Economy, Nigeria’s increased revenue in the 2024 fiscal year is being strategically distributed to several social intervention programs meant to raise citizens’ standards of living and meet urgent societal demands. According to the minister, the social investment initiative aims to reach 20 million…
After declining steadily in July and August, Nigeria’s headline inflation rate increased to 32.70 percent in September 2024. This was in accordance with the National Bureau of Statistics’ most recent Consumer Price Index data. In September 2024, the World Bank predicted that Nigeria’s inflation rates would continue to grow, primarily due to a notable increase…
