The International Monetary Fund has predicted that Nigeria’s economy will reach $1.85tn by 2029, in Purchasing Power Parity terms. This forecast suggests a significant growth trajectory for the country’s economy over the next five years. According to the IMF data, Nigeria’s Gross Domestic Product in PPP terms has been steadily increasing, from $1.36tn in 2023 […]
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The Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar has met with Nigerian professionals in the Netherlands ahead of President Bola Ahmed Tinubu’s participation at the Nigeria-Dutch Business and Investment Forum. According to a statement by Alkasim Abdulkadir Special Assistant on Media and Communications Strategy to the Minister of Foreign Affairs, the event, which […]
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THE Central Bank of Nigeria (CBN) governor Yemi Cardoso says the apex bank’s FX reforms have made the naira the best-performing currency globally. Nigeria’s currency lost massively against major currencies in the past few months. But Cardoso who spoke on Saturday in a briefing on the sidelines of the just-ended World Bank/IMF Spring Meetings […]
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Diplomat Nigeria can report that Nigeria and the Kingdom of Morocco are working towards the realization of gas pipeline project. In 2017, the Morocco-Nigeria gas pipeline agreement was signed. Once completed. the project is expected to supply about three billion standard cubic feet of gas per day (3bscf/d) from Nigeria to the Kingdom of […]
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UAE Air carrier, Emirates, is slated to restart its flights to Nigeria in mid-year, the Nigerian government has announced. The airline suspended flights operations to Nigeria two years ago over issues bothering on trapped funds. Emirates had stop flights from Nigeria with effect from September 1, 2022 over inability to repatriate funds. “Emirates has tried […]
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Zimbabwe has introduced a new gold-backed currency called ZiG – the name stands for “Zimbabwe Gold”. It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for the past 25 years. Unveiling the new notes, central bank governor John Mushayavanhu said the ZiG would be structured, and set […]
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It added that there are now more billionaires than ever before across the world with 2,781aking the list. This is 141 more than 2023. They are richer than ever and are worth $14.2 trillion. The world recorded an upsurge in billionaires, a report by Forbes Magazine has said. In Africa, Aliko Dangote remains the riches, […]
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THE Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorization at N500 billion. A circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, to all commercial, merchant, and non-interest banks and promoters of proposed banks emphasized that […]
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Nigeria’s Federal Capital Territory (FCT) minister, Nyesom Wike, has wooed Indian businessmen to increase their presence in the nation’s capital. The Minister made this observation on Tuesday in Abuja, when he received, in courtesy, the Indian High Commissioner to Nigeria, His Excellency, Balasubramanian Shri. Wike said that Indians’ commitment to keeping their cordial relationship with […]
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The Consul-General, Consulate General of People’s Republic of China, Ms. Yan Yuqing, has described Nigeria as a pilot country for China-Africa cooperation in building the BRI and revealed that the trade volume between Nigeria and China was $22.6 billion in 2023. He also said Nigeria’s export to China increased by 50 percent during the year. […]
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