The Federal Government has restated its commitment to making agriculture the foundation of Nigeria’s economy, pledging continued support for farmers and sustainable food production. Minister of Agriculture and Food Security, Senator Abubakar Kyari, made the declaration in Abuja. He noted that under President Bola Ahmed Tinubu’s Renewed Hope Agenda, agriculture has been prioritised through bold…
The National Bureau of Statistics (NBS) announced on Friday that Nigeria’s inflation rate continued its downward trajectory in July 2025, falling to 21.88 per cent. The statistics agency attributed the slowdown to the recent rebasing of the Consumer Price Index (CPI). The July 2025 inflation figure marks the fifth consecutive month of decline this year,…
The challenges in the country’s economy forced unprecedented production costs on major food processing companies in Nigeria in the past year. The development also affected the prices of commodities in the market, as the affected companies passed the costs to the consumers. For instance, BUA Foods Plc and Dangote Sugar Refinery Plc reported that they…
The National Bureau of Statistics on Tuesday said the Gross Domestic Product in real terms grew by 3.84 per cent in the fourth quarter of 2024 on a year-on-year basis, which is 0.38 per cent points higher than the rate recorded in Q4 2023 (3.46 per cent). Similarly, it was higher by 0.38 per cent…
The Federal Government has given the green light for the concession of the Kashimbila Integrated Cargo and Agro-Allied Airport in Taraba State, paving the way for a Public-Private Partnership (PPP) that promises to transform the region’s economy. Jobson Ewalefoh, Director General of the Infrastructure Concession Regulatory Commission (ICRC), hailed the project as a game-changer for…
Manufacturers in Nigeria recorded a slight boost in confidence during the fourth quarter of 2024, driven by increased consumer demand in the festive season, according to the latest Manufacturers CEOs Confidence Index (MCCI) report by the Manufacturers Association of Nigeria (MAN). The aggregate MCCI rose by 0.5 points to 50.7 in Q4 2024, up from…
