By Ismaeel Aleem  Nigeria has achieved unprecedented growth in non-oil revenue collections for January–August 2025, reaching ₦20.59 trillion, a 40.5% increase from ₦14.6 trillion in 2024, according to a State House press release issued on Wednesday. This milestone, driven by reforms in tax administration, compliance, and digitisation, marks the country’s strongest fiscal performance in recent history. President Bola Tinubu highlighted this achievement during a meeting with the Buhari Organisation, led…

Nigeria and Colombia have signed a landmark Memorandum of Understanding (MoU) on political consultations, signalling a new chapter in diplomatic and economic relations between the two countries. The agreement was signed on Monday at the Presidential Villa in Abuja during the Nigeria-Colombia Bilateral Meeting and Business Forum. The MoU was signed by Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, and Colombia’s Deputy Minister of Multilateral Affairs, Mauricio Jaramillo Jassir.…

The Manufacturers Association of Nigeria (MAN) has said that although President Bola Tinubu’s economic reforms have ushered in tough times for citizens and businesses, they remain necessary to reposition the country’s economy. Chairman of MAN in Cross River and Akwa Ibom States, Dr Adoga Inalegwu, made this known at the weekend during a familiarisation visit to member companies in Calabar. According to him, Tinubu has taken bold steps that many…

By Ismaeel Aleem  Vice President Kashim Shettima has hailed the ongoing three-day official visit of Colombian Vice President Francia Márquez as a pivotal moment for Nigeria-Colombia relations, describing it as a gateway to a new era of diplomatic and economic collaboration. Speaking at a Gala Dinner held in honour of Márquez at the Presidential Villa on Sunday night, Shettima emphasised that the visit signifies a “fraternal union” poised to foster…

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has revealed a significant surge in diaspora remittance inflows, which have risen from $200 million to $600 million per month. Cardoso made the disclosure on Thursday during the Delta State–Brazil Business and Investment Roundtable in São Paulo, Brazil. He attributed the sharp increase to the apex bank’s recent policy reforms aimed at enhancing confidence in foreign exchange (FX) remittance channels.…

The National Economic Council (NEC) has endorsed the framework for the “Renewed Hope Development Plan (2026-2030)”, a new medium-term strategy designed to consolidate economic reforms and propel Nigeria toward a $1 trillion economy by 2030. The plan will serve as a successor to the country’s expiring National Development Plan (2021-2025). READ ALSO: Nigerians fume as FG hikes passport charges again Speaking at the 151st meeting of the council, Vice President Kashim…

Governor Lucky Aiyedatiwa of Ondo State visited the U.S. Embassy in Abuja to attract American investors to key economic sectors in his state, including a proposed deep-sea port, petrochemical hub, and refinery. The governor assured officials that his administration is committed to creating a favorable environment for foreign investment. During his meeting, Aiyedatiwa presented a range of investment opportunities, emphasising that the proposed deep-sea port could help alleviate congestion at…

Africa’s richest man, Aliko Dangote, has signed a $2.5 billion agreement with the Ethiopian Government to construct one of the world’s largest single-site fertiliser plants in Gode, located in the Somali Regional State of Ethiopia. The agreement, formalised on Thursday, is between Dangote Group and Ethiopian Investment Holdings (EIH), the government’s strategic investment arm. Under the deal, Dangote Group will hold a 60% equity stake, while EIH will retain 40%.…

The Nigerian stock market sustained its bullish momentum on Tuesday, recording a significant N203 billion increase in market capitalisation as investors showed renewed confidence in key sectors. Data from the Nigerian Exchange Limited (NGX) revealed that the market capitalisation rose from N89.493 trillion on Monday to N89.696 trillion by the close of Tuesday’s trading session, representing a 0.23 percent growth. Similarly, the All-Share Index (ASI) advanced by 321.59 points, or…

President Bola Tinubu has praised the significant growth of Nigeria’s capital market since his administration took office. He said this while meeting with the leadership of the Nigerian Exchange Group (NGX) and the Securities and Exchange Commission (SEC) during his state visit to Brazil. He attributed the increase in market capitalisation and trading activity to the confidence investors have in his economic reforms. READ ALSO: SERAP urges Tinubu to halt pay…

By Ismaeel Aleem  President Bola Tinubu has approved a six-month ban on the export of raw shea nuts, effective immediately, to strengthen Nigeria’s shea industry and curb informal cross-border trade. The directive, announced by Vice President Kashim Shettima during a multi-stakeholder meeting at the Presidential Villa, aims to transform Nigeria into a global supplier of refined shea products, with projections to generate $300 million annually in the short term. Shettima…

President Bola Tinubu has announced a new era of economic cooperation between Nigeria and Brazil during a state visit, welcoming the imminent return of Brazil’s state-owned oil company, Petrobras, to Nigeria. The visit culminated in the signing of five strategic Memoranda of Understanding (MoUs) designed to strengthen diplomatic and economic relations. At a joint press conference with Brazilian President Luiz Inácio Lula da Silva, Tinubu emphasised the potential for collaboration,…