Tag: GROWTH
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World Bank has emphasized that affordable and reliable electricity is crucial for Africa’s economic growth, job creation, and poverty reduction. Despite global progress over 150 years, about 600 million Africans lack access to power, with unreliable supply causing business disruptions and reducing employment by up to 14%. They explained Improved energy access can boost…
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Presidency has praised the International Monetary Funds IMF’s recent upward revision of Nigeria’s economic growth forecasts to 3.9% in 2025 and 4.2% in 2026, attributing this positive outlook to President Bola Tinubu’s bold reforms in fiscal management, energy, trade, and investment, as well as the competence of his economic team. The IMF’s update…
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President Bola Tinubu has compared Nigerians’ economic hardships to the “pain of a painful surgery,” assuring that growth and prosperity are near. Speaking at the coronation of the 44th Olubadan of Ibadanland, Oba Rashidi Ladoja, Tinubu said reforms since he assumed office were tough but necessary to stabilize the economy. He thanked citizens for their…
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Nigeria’s manufacturing sector has continued to decline into the second quarter of 2025, primarily due to inefficient port operations. According to reports, Its contribution to GDP dropped to 7.81% in Q2 2025 from 9.62% in Q1 2025 and 8.01% in Q2 2024. Also, The sector grew 1.60% year-on-year, higher than in 2024, but experienced…
