Nigeria’s Non-Oil Exports climb to N12.36 trillion in 2025 – NBS
A breakdown of export categories reveals that mineral products generated the highest earnings among non-oil exports during the year. Other major contributors included prepared food products, beverages, spirits and tobacco, as well as chemical and allied industry products. Agricultural exports also played a role, with vegetable products valued at N1.54 trillion, while live animals and […]
Nigeria Inks $1.3 Billion AFC Pact For New Alumina Refinery
Nigeria’s federal government has partnered with the Africa Finance Corporation (AFC) to invest $1.3 billion in a new alumina refinery and two strategic mining projects aimed at expanding the country’s solid minerals sector. The announcement was made in Abuja by the Minister of Solid Minerals Development, Dele Alake. The alumina refinery will process 1 million […]
Botswana Appoints Farouk Gumel As Chairman Of Sovereign Wealth Fund
Botswana’s President, Advocate Duma Gideon Boko, has appointed Nigerian businessman Farouk Gumel as the Chairman of the Board of Directors for the newly created Botswana Sovereign Wealth Fund Limited (BSWF). Gumel is currently the Vice Chairman of Tropical General Investment (TGI) Group and was previously the Chairman of the Nigerian Sovereign Investment Authority (NSIA). Launch […]
Nigeria will become steel powerhouse by 2030 – Tinubu
President Bola Tinubu has announced that Nigeria aims to become a major steel producer by 2030, with a goal of producing 10 million tonnes of liquid steel each year. Speaking in Abuja on August 13 at the first steel sector stakeholders’ summit, Tinubu, through Vice-President Kashim Shettima, emphasized that his government is determined to make […]
Over-dependence on oil will make Nigeria vulnerable — Speaker, Abbas
Nigeria’s over-reliance on oil is putting its future at risk, according to Tajudeen Abbas, the Speaker of the House of Representatives. In a speech at the 14th convocation of Al-Hikmah University in Ilorin, Abbas warned that depending too much on oil would only lead to more poverty, inequality, and joblessness in the country. He stressed […]
Lawmakers Approve Bill for Military Participation in Food Production
The Nigerian House of Representatives has taken an important step toward enhancing food security by passing a bill that allows the military to participate in food production. This initiative, led by Representative Babajimi Benson from Lagos, aims to improve agricultural output, create jobs, and reduce reliance on oil revenues. The new program, called Armed Forces […]
President Tinubu Receives Symbolic Gold Bar to Boost Naira Value
On Sunday, June 24, the Minister of Solid Minerals Development, Dele Alake, gave a symbolic gold bar to President Bola Ahmed Tinubu. Alake said this will help increase the value of the naira and improve the country’s foreign reserves. He thanked President Tinubu for supporting changes in the solid minerals sector, explaining that the National […]