Tag: #Economy
-
NIGERIA EXCEEDS OPEC QUOTA AS PRODUCTION HITS 11-MONTH HIGH
Nigeria’s crude oil production has surged to an 11-month high in May, 2026, with the country exceeding its Organisation of the Petroleum Exporting Countries (OPEC) production quota. The average crude oil production recorded during the month of May represents 102 per cent of Nigeria’s 1.5 mbpd of production quota allocated by the OPEC. The production…
-
JIGAWA RESIDENTS RESORT TO CHARCOAL AMID SOARING COOKING GAS PRICES
Some residents of Dutse in Jigawa have resorted to charcoal for cooking and domestic purposes amid cooking gas price hike. At some of the available gas stations, many consumers joined long queues to refill their cylinders, while some other gas stations had run out of stock. The acute scarcity of the product pushed prices up…
-
AFDB COMMITS 86 MILLION DOLLARS TO AFRO-PROCESSING ZONES PROJECT
The African Development Bank (AfDB) says it has committed 86 million dollars to the implementation of the Special Agro-Industrial Processing Zones (SAPZ) Programme in Nigeria as of March 31. Dr Orison Amu, Implementation Support Manager, Nigeria Country Department, AfDB, who was represented, disclosed this on Wednesday June 10 in Abuja at the Mid-Term Review Meeting…
-
INVEST LAGOS SUMMIT: SANWO-OLU WOOS INVESTORS
The Governor of Lagos State, Babajide Sanwo-Olu, says Lagos is Africa’s foremost investment gateway, offering unparalleled opportunities for trade, innovation, infrastructure development, and economic expansion across the continent. Sanwo-Olu said this at the opening of the third edition of Invest Lagos Summit 3.0, where investment stakeholders gathered to explore opportunities across strategic sectors of the…
-
ISRAEL PLEDGES TO DEEPEN PARTNERSHIP WITH NIGERIA TO BOLSTER A.I
The Israeli Ambassador to Nigeria, Michael Freeman, has declared the country’s readiness to strengthen partnership with Nigeria in bolstering Artificial Intelligence (AI) applications globally. Freeman disclosed this on Thursday June 4 in Abuja, during the closing ceremony of the maiden Innovation Week organised by the Embassy for the Innovation Fellowship for Aspiring Inventors and Researchers…
-
THE HIGH COST OF CHAOS: INSECURITY IS HOLLOWING OUT NIGERIA’S ECONOMY AND STEALING ITS FUTURE
It is no longer alarmist to say that Nigeria is bleeding out. Not from a single wound, but from a thousand deep cuts inflicted by a metastasizing insecurity complex that has overwhelmed the state’s capacity to guarantee the most fundamental promise of any government: the protection of life and property. As of mid-2026, the daily…
-
NIGERIA PARTNERS AFDB ON AVIATION INFRASTRUCTURE, FLEET MODERNISATION
Nigeria has signed a partnership agreement with the African Development Bank (AfDB) to modernise aviation infrastructure, improve regional connectivity and strengthen airline competitiveness across Africa. The agreement was signed on the side-lines of the 2026 Annual Meetings of the African Development Bank( AfDB) Group in Brazzaville on Thursday May 28. Speaking at the ceremony, Mike…
-
MIYETTI ALLAH SEEKS FG LOAN SUPPORT FOR BUTCHERS TO REDUCE BEEF PRICES
The Miyetti-Allah Fulaku Yeso Yeso Development Association (MAFYDA) has appealed to the Federal Government to provide loan support for butchers nationwide to help reduce the rising cost of beef. The association said many butchers are unable to buy cows directly from livestock farmers because of limited funds, forcing them to depend on middlemen who resell…
-
CUSTOMS BOSS PUSHES FOR WIDER USE OF AI TO STRENGTHEN NIGERIA’S ECONOMY
The Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi, has urged Nigeria to embrace disruptive technologies and artificial intelligence to improve governance, trade administration and revenue generation across the country. Adeniyi made the call while delivering the keynote address at the 4th Biennial International Conference organised by the Faculty of Communication and Information Sciences…
-
NSDC SAYS NIGERIA’S SUGAR SECTOR COULD CREATE ABOUT 1 MILLION JOBS
The National Sugar Development Council (NSDC) says Nigeria’s sugar sector has the potential to generate about one million jobs if fully developed. The Executive Secretary/CEO of NSDC, Mr Kamar Bakrin, made this known during a strategic meeting with the Nigeria Customs Service in Abuja. He said the sector could create both direct and indirect jobs,…
