THE World Bank’s Country Director for Nigeria, Dr. Ndiame Diop, has confirmed that Nigeria remains the largest economy in Africa by Gross Domestic Product (GDP) despite the challenges faced by its private sector. Speaking at the Country Private Sector Diagnostic (CPSD) and Stakeholder Engagement in Abuja on Thursday, Dr. Diop stated that while Nigeria receives far less Foreign Direct Investment (FDI) than its potential warrants—especially in comparison to countries like Indonesia and South Africa—it continues to hold its position as Africa’s biggest economy. He stated that the CPSD report, set to be released in the coming weeks, will reveal the…
Author: Abdullahi Maitama Sani
Read More
PRESIDENT Bola Tinubu on Wednesday condoled with parents, guardians, and families who lost their loved ones in a fire incident that engulfed an Islamic school in Kaura Namoda, Zamfara State. Tinubu conveyed his condolences in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, titled, ‘President Tinubu mourns Zamfara Islamic School pupils, says safety should be uppermost to proprietors.’ The fire at the Tsangaya school (Almajiri school) claimed the lives of 17 children and injured 15 other pupils. The statement read, “President Tinubu commiserates with the state government and owners of the school and prays for…
PRESIDENT Bola Tinubu has raised the proposed 2025 budget from ₦49.7 trillion to ₦54.2 trillion, citing additional revenues generated by key government agencies. The President conveyed the budget adjustment in separate letters sent to both the Senate and the House of Representatives, which were read during plenary today by the Senate President, Godswill Akpabio. According to President Tinubu, the increase was driven by ₦1.4 trillion in additional revenue from the Federal Inland Revenue Service (FIRS), ₦1.2 trillion from the Nigeria Customs Service (NCS), and ₦1.8 trillion generated by other government-owned agencies. Following the announcement, the Senate President has referred the…
AS the legal fireworks over the Peoples Democratic Party National Secretary seat continue, Samuel Anyanwu, an ally of Minister of the Federal Capital Territory Nyesom Wike, has written to the Supreme Court demanding an accelerated hearing on the issue. In a letter dated January 29 and sent to the Supreme Court in Abuja, which was obtained by our correspondent on Tuesday, Anyanwu formally requested an expedited hearing, emphasising that the role of National Secretary was crucial for the PDP, which had been enmeshed in crisis in recent times. The main opposition party’s leadership crisis intensified in 2023 when the PDP…
THE federal government has approved the creation of the Creative and Tourism Infrastructure Corporation, a key initiative designed to unlock the immense economic potential of Nigeria’s creative and tourism industries through a public-private partnership (PPP) framework. Minister of Art, Culture, Tourism, and the Creative Economy, Hannatu Musawa, announced the development on Monday after the Federal Executive Council (FEC) meeting, presided over by President Bola Tinubu at the Presidential Villa, Abuja. She described it as a major step toward transforming the nation’s creative landscape. “This initiative aims to propel Nigeria’s creative and tourism industries to new heights by developing critical infrastructure…
PRESIDENT Bola Tinubu has sworn in eight Federal Permanent Secretaries. The eight permanent secretaries took the oath of office just before the commencement of the year’s first Federal Executive Council meeting at the State House, Abuja. This followed introductory remarks by the State House Director of Media and Publicity, Mr Abiodun Oladunjoye. They are Onwusoro Ihemelandu (Abia State), Ndiomu Philip (Bayelsa State), Anuma Nlia (Ebonyi State) and Ogbodo Nnam (Enugu State). Others are Usman Aminu (Kebbi State), Oyekunle Nwakuso (Rivers State), Nadungu Gagare (Kaduna State) and Kalba Usman (Gombe State). The President also swore in 18 Federal Commissioners of the…
ANOTHER round of violence may soon be unleashed on the headquarters of the main opposition Peoples Democratic Party (PDP) as the embattled National Secretary of the party, Senator Samuel Anyanwu has vowed to resist any move to remove him from office. On January 29, efforts by Anyanwu and Sunday Ude-Okoye, both claiming to be the secretary of the party, to attend a meeting of the Board of Trustees led to violence before the intervention of security operatives. But on Friday governors elected on the platform of the party declared support for Ude-Okoye as the authentic National Secretary following the verdict…
PRESIDENT Bola Ahmed Tinubu has appointed Abba Abubakar Aliyu as the substantive Managing Director of the Rural Electrification Agency (REA). Bayo Onanuga, Special Adviser to the President on Information and Strategy, in a statement said, “The appointment which is effective from January 23, 2025, is for an initial term of four years.” Aliyu has been acting as the agency’s managing director since March 2024. Onanuga said Aliyu has over 20 years of experience in energy and organisational development in the private and public sectors. He has also played key leadership roles in the on-grid and off-grid power sectors, as well…
PRESIDENT Bola Tinubu has returned to Abuja after Tanzania. He had left Nigeria for the East African country to participate in the Africa Heads of State Energy Summit in Dar es Salaam, Tanzania. Two days later, the presidential aircraft touched down at the Nnamdi Azikiwe International Airport at approximately 7:40 PM. He was received by top government officials including the Minister of State for Defence, Bello Matawalle; National Security Adviser, Nuhu Ribadu; Chief of Staff to the President, Femi Gbajabiamila among others. The two-day summit is being hosted by the government of Tanzania, the African Union, the African Development Bank…
FINALLY, the federal government has declared the Nigeria’s electricity sector open for investment at the ongoing #Mission300 African Energy Summit in Dar es Salaam, Tanzania. Minister of Finance and Coordinating Minister of the Economy, Wale Edun discloased this while Addressing selected investors and development partners on Monday evening. Edun highlighted Nigeria’s electricity sector as a prime opportunity for investment. He emphasised the nation’s commitment to macroeconomic stability, clean energy goals, and achieving universal energy access. This was disclosed in an official statement made available on the Ministry of Finance X (formerly Twitter) account on Monday. Approximately 80 per cent of…
PRESIDENT Bola Tinubu will depart Abuja on Sunday for Dar es Salaam, Tanzania, to participate in the Africa Heads of State Energy Summit scheduled to hold between January 27 and 28, 2025. The Summit, hosted by the government of Tanzania in collaboration with the African Development Bank Group and the World Bank, aims to advance ‘‘Mission 300,’’ an initiative to provide electricity access to 300 million people in Africa by 2030. According to a statement by presidential spokesman, Bayo Onanuga, in Dar es Salaam, African leaders, private sector leaders, development partners, and civil society groups will strategise to accelerate energy…
PRESIDENT Bola Ahmed Tinubu has appointed the National Chairman of the All Progressives Congress (APC), Dr. Abdulahi Ganduje and the 2023 governorship candidate of the APC in Kano State, Dr Nasiru Yusuf Gawuna as board chairmen of Federal Airport Authority Of Nigeria and Federal Mortgage Bank Of Nigeria respectively. According to a statement by the Presidential spokesman, Bayo Onanuga, made available to News Point Nigeria on Friday, Senator Magnus Abe was also appointed as board chairman of National Agency For Great Green Wall and Professor Bolaji Akinyemi as board chairman of Nigerian Institute of International Affairs. The statement read in…
PRESIDENT Bola Tinubu on Tuesday directed the National Security Adviser (NSA), Nuhu Ribadu, to coordinate negotiations with various parties within Ogoniland in the oil-rich Niger Delta area to resume oil production in the area. The President, who gave the directive in Abuja when he received Ogoni leaders including Governor Siminalayi Fubara at the Aso Villa, said his administration would prioritise peace, justice, and sustainable development in the area. The Minister of the Federal Capital Territory (FCT), Nyesom Wike, was also at the meeting. Tinubu called for unity and reconciliation, urging the Ogoni people to set aside historical grievances and work…
PRESIDENT Bola Tinubu and the Minister of the Federal Capital Territory (FCT), Nyesom Wike, on Tuesday, held a closed-door meeting with a delegation of Ogoni leaders led by Governor Siminalayi Fubara of Rivers State. Also present at the meeting was the Chief of staff to the President, Femi Gbajabiamila; the National Security Adviser, Nuhu Ribadu; the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari; the Minister of Information and National Orientation, Mohammed Idris; and other ministers and aides. The meeting came after a coalition of civil society organisations demanded an allocation of $1 trillion…
VICE President Kashim Shettima has arrived in Davos, Switzerland, where he is representing Nigeria at the 2025 annual meeting of the World Economic Forum (WEF). The WEF meeting brings together global leaders, business executives, and development partners to address pressing global and national economic challenges and identify strategies for sustainable growth. In Davos, Vice President Shettima will participate in bilateral meetings and discussions aimed at advancing the nation’s economic opportunities and addressing global risks. A notable event on the Vice President’s schedule is a workshop titled “Roadmap to Co-create Investment Opportunities for Africa’s Frontier Markets,” organised by the African Development…
PRESIDENT Bola Ahmed Tinubu has appointed Princess Zahrah Mustapha Audu as the Director-General of the Presidential Enabling Business Environment Council (PEBEC), a move aimed at improving Nigeria’s business climate and attracting foreign investments. Princess Zahrah, an entrepreneur and technology expert, is expected to bring her experience in business development, innovation, and investment promotion to her new role. She holds a background in software engineering and a business management degree from a prestigious institution in the United Kingdom. Before her appointment, she served as the Technical Adviser on Foreign Direct Investment (FDI) to the President, based in the Office of the…
FOLLOWING the tanker explosion at Dikko Junction, Gurara Local Government Area of Niger State on Saturday, the Niger State Emergency Management Agency (NSEMA) has put the number of deaths from the incident at 86. According to a press statement issued by NSEMA Director General Abdullahi Baba-Arah, the remains of the deceased were recovered and buried in a coordinated effort by NSEMA, Gurara LGA authorities, and volunteers. Of the deceased, 80 were buried in a mass grave at the Dikko Primary Healthcare (PHC) premises. Five others were handed over to their families for burial within the town, and one individual succumbed…
THE Presidency has debunked claims that President Bola Tinubu took some Nigerians to Paris France to testify in favour of the country. Bayo Onanuga, the presidential spokesman, in a statement, on Saturday, stated that the attention of the Presidency was drawn to some fake news on social media about an arbitration proceeding in Paris to which the Nigerian Government is a party. The statement described the private proceeding, as ” entirely confidential” adding that ” it should not have been reported”. It” should not have been reported in the media, is entirely confidential until the international arbitrators decide,” Onanuga said…
THE Minister of Information and National Orientation, Mohammed Idris, has said that the Abuja-Kaduna-Kano dual carriageway will be ready for use in 14 months. Idris made this known at the inauguration of the rehabilitation of section 1 of the road (Abuja to Kaduna) rigid pavement on Thursday. While Section 1 of the road is from Abuja to Kaduna, Section 2 is from Kaduna to Zaria, and Section 3 is from Zaria to Kano. The description and scope of works include scarification and pulverization of existing bituminous surface as sub-base material and filling of embankments. Others are the provision of approved…
NIGERIAN governors have thrown their weight behind the Federal Government’s tax reform bills. But they are proposing a new sharing formula for value-added tax (VAT) opposing the proposed agreement. The decision followed a meeting of the Nigeria Governors’ Forum (NGF) and the Presidential Tax Reform Committee which was held on Thursday. In a communique at the end of the meeting, the governors’ forum “reiterated its strong support for the comprehensive reform of Nigeria’s archaic tax laws. “Members acknowledged the importance of modernizing the tax system to enhance fiscal stability and align with global best practices”. The governors proposed a revised…