Found 93 results for “Economy”
Aliko Dangote emphasizes that the upcoming IPO for the Dangote Petroleum Refinery aims to democratize ownership among Nigerians, making the investment process accessible for all income levels. With a focus on transparency and simplicity, the initiative seeks to empower citizens in wealth creation through participation in a pivotal industrial asset.
As the economy struggles, the canoe business at Ose-Okwodu market in Onitsha has become a lifeline for many youths, providing an alternative mode of transport that is perceived as safer and more affordable than road travel. Young paddlers assert that their choice to engage in this trade is driven by opportunity rather than desperation.
President Bola Ahmed Tinubu has called on Nigeria's banking sector to expand its role beyond mere financial intermediation, emphasizing the need for banks to actively contribute to job creation and production. He highlighted that achieving macroeconomic stability should result in widespread prosperity for the nation.
Governor Dapo Abiodun of Ogun State has announced that approximately 100,000 women have been empowered through the World Bank-supported Nigeria for Women Programme, emphasizing the crucial role of women's economic empowerment in combating poverty and fostering stronger family units.
As Uber exits the Nigerian market, experts highlight the need for Nigeria to bridge the gap between digital connectivity and organizational infrastructure. The country's potential remains untapped due to inadequate physical and institutional frameworks, despite existing plans for growth.
An Abia State director has formally petitioned Governor Otti regarding unpaid salaries spanning 20 months, a situation that has left him struggling to meet basic needs. The dire financial circumstances have escalated to the point where he faces potential eviction from his residence due to his inability to pay rent.
With the elimination of an unsustainable subsidy, Nigeria faces the challenge of ensuring that the resulting fiscal space leads to tangible benefits such as reduced transport costs and improved public services. The National Economic Council stands as a vital platform for comprehensive discussion and planning regarding future investments and economic strategies.
The Nigerian equities market has witnessed a staggering 1,073% increase in net capital outflow, totaling N266.07 billion over the past three years, as foreign investors increasingly withdraw their funds. Analysts highlight the ongoing pressure on foreign portfolio investments, raising concerns about the implications for the nation’s economy.
Experts argue that reintroducing fuel subsidies in Nigeria would exacerbate existing economic challenges rather than alleviate them. The call for sustainable economic reform emphasizes the importance of domestic refining and reducing fiscal burdens.
The Nigerian economy's annualized growth rate of 4.43% in the second quarter of 2026 highlights a significant gap between governmental ambitions and economic reality. Analysts argue that this growth is insufficient for the high-productivity trajectory needed for sustainable development.
In a bid to enhance transparency in public finances, Nigeria's finance ministry has unveiled new accounting measures regarding fuel subsidies. However, these efforts have been met with criticism as discrepancies in financial records continue to persist.
The Alliance for Economic Research and Ethics highlights the Tinubu administration's efforts in stabilizing Nigeria's economy through significant reforms, including the removal of the petrol subsidy. While these measures have caused temporary hardship, they are seen as necessary steps towards a more resilient economic framework.
The federal government's domestic borrowings have skyrocketed by 90.5% to N24.7 trillion in just eight months, raising concerns about the impact on businesses and the economy. This surge reflects a troubling trend of increased government credit at the expense of private sector growth.
