NBS to Include Illicit Drugs Trade, Others in GDP Metrics
The National Bureau of Statistics (NBS) has unveiled plans to incorporate proceeds from illicit activities, including drug trafficking, prostitution, and other illegal ventures, into the calculation of the country’s Gross Domestic Product, GDP.
The announcement was...
2025 Budget: Regional Development Commissions to Receive N2.49trn
The Federal Government has allocated a total of N2,493,138,248,477 to regional development commissions in the proposed 2025 budget.
The Bola Tinubu-led Federal Executive Council (FEC) established the Ministry of Regional Development in October 2024 to oversee all regional...
Fuel Prices may Soar as Crude Oil Nears $80/barrel
The prices of refined petroleum products may rise in the coming days following the increase in the cost of Brent, the global benchmark for crude.
Crude oil is a major commodity that determines the prices of refined...
NUPRC Begins Oil Export Tracking to Enhance Transparency
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is set to enhance transparency and accountability in Nigeria’s oil and gas sector through the implementation of the Advance Cargo Declaration Solution and the Engineering Audit of Upstream...
Real Estate Now Third Largest Sector Surpassing Oil, Gas
In a major shift in Nigeria’s economic landscape, real estate has now surpassed oil and gas to become the country’s third-largest sector, according to the latest data from the ongoing GDP and CPI rebasing process.
This re-basing...
Experts Project 3.5% Growth for Nigeria Economy in 2025
The Nigerian economy has been projected to grow by 3.5% year-on-year (Y/Y) in 2025, an improvement from an estimated 3.2% year-on-year in 2024.
This is according to the most recent NESG-Stanbic IBTC Business Confidence Monitor report, written...
