BossuTv Logo
trending_flat
N’Assembly backs Tinubu’s borrowing policy – Speaker Abbas

The Speaker of the House of Representatives, Abbas Tajudeen, has clarified that the National Assembly is not opposed to President Bola Tinubu’s borrowing policy, affirming that lawmakers support borrowing as a legitimate fiscal tool to fund infrastructure and stimulate sustainable growth. Abbas made this known in Abuja on Monday while delivering the keynote address at the 8th Annual African Network of Parliamentary Budget Offices (AN-PBO) Conference, organised by the National Assembly in collaboration with the National Assembly Budget and Research Office. The conference, themed “The Role of PBOs in African Parliaments’ Fiscal Oversight: Contribution to the African 2063 Development Agenda,” brought together African parliamentarians and fiscal experts. His remarks followed media reports suggesting legislative unease with the administration’s debt strategy, particularly after concerns were raised at the 11th Annual Conference of the West Africa Association of Public Accounts Committees. At […]

trending_flat
Inflation will soon hit single digit, Presidency assures Nigerians

The Presidency has assured Nigerians that inflation will fall to a single digit soon, a development it says will make life easier for citizens. Special Adviser to the President on Economic Matters, Tope Fasua, gave the assurance on Tuesday during an interview on Channels Television’s The Morning Brief. Fasua said food prices are already beginning to stabilize as inflation eases, citing new figures from the National Bureau of Statistics (NBS). According to the NBS, headline inflation dropped to 20.12% in August 2025, down from 21.88% in July. On a monthly basis, headline inflation stood at 0.74%, while food inflation was 1.65%. Year-on-year, the figure was 12.03% lower than the 32.15% recorded in August 2024. “A 20.12 inflation is still large in many quarters because what it says is that prices are still increasing, but not as they used to be. […]

trending_flat
Nigeria’s Infrastructure Gap May Reach $2.3trn by 2043

Nigeria’s infrastructure deficit could rise to $2.3 trillion by 2043 if urgent action is not taken, experts warned on Tuesday. The revelation came during a pre-summit dialogue in Abuja ahead of the 31st Nigerian Economic Summit (NES #31). The session, themed “Catalysing Bankable PPPs through the Infrastructure Project Preparation Facility,” was convened by the Nigerian Economic Summit Group (NESG) in partnership with the UK Nigeria Infrastructure Advisory Facility (UKNIAF). Policymakers, financiers, development partners, and private sector leaders highlighted the challenges under the National Integrated Infrastructure Master Plan (NIIMP) and stressed the importance of Public-Private Partnerships (PPPs) in bridging the huge gap. Nnanna Ude, NESG Board Director, said unlocking private capital through properly prepared projects is key to inclusive and sustainable growth. He reaffirmed NESG’s commitment to driving reforms that strengthen Nigeria’s infrastructure competitiveness. Delivering the keynote, UKNIAF’s Abdul Oladapo identified […]

trending_flat
Nigeria’s Social Welfare in Poor State – Economists

The Nigerian Economic Society (NES) has raised concern over the country’s worsening social welfare, describing it as “ignominious” with over 133 million Nigerians facing deprivations in education, health, and living standards. Speaking in Abuja ahead of the NES 66th Annual Conference, the society’s president, Prof. Adeola Adenikinju, stressed that while Nigeria has recorded some progress in macroeconomic reforms, these gains have not translated into meaningful improvements for households and businesses. He noted that reforms introduced by the Federal Government had shown encouraging signs, such as a slight easing of inflation in July 2025. However, he maintained that inflation remains high and its impact on households uneven. “The reforms must be sustained, broadened, and translated into real economic benefits for micro, small, and medium enterprises (MSMEs) and households,” Adenikinju said. The NES president highlighted that Nigeria’s Multidimensional Poverty Index, last measured […]

trending_flat
DMO Cautions States on Rising Debt, Urges Focus on Tax Reforms and PPPs

The Debt Management Office (DMO) has advised state governments to reduce reliance on borrowing for infrastructure projects and instead prioritise Public-Private Partnerships (PPPs) and stronger tax revenue mobilisation. Speaking at a World Bank-supported workshop under the States Action on Business Enabling Reforms Programme in Lagos, DMO Director-General Patience Oniha warned that Nigeria must avoid slipping back into a debt crisis similar to what it faced before its 2005 debt relief programme. She stressed that borrowing should only be a last resort, adding that governments at all levels must ensure that any loans taken are prudently utilised and sustainable. “Borrowing should not be the major source of funding. Revenues, especially tax revenues, must be significantly improved. Efficient tax collection ensures more resources for health, education, and infrastructure without raising tax rates,” Oniha said. According to her, PPPs present a more viable […]

trending_flat
Nigeria’s Economy Gets a Major Boost: GDP Rebases to ₦205 Trillion, Grows 3.46% in Q1 2025

Nigeria’s Economy Expands to ₦205 Trillion After Rebasing The National Bureau of Statistics (NBS) has announced a major recalibration of Nigeria’s economic size, rebasing GDP from ₦80 trillion to ₦205 trillion—a 41.7% increase from the previous 2014 benchmark. Alongside this revision, the economy grew by 3.46% year-on-year in Q1 2025, showing:📈 Improvement from Q4 2024 (2.98%)📉 Slight dip from Q1 2024 (3.61%) Key Highlights from the NBS Report 🔹 New GDP Base Year: 2019 (replacing the old benchmark)🔹 Top Performing Sectors: Crop Production (Agriculture) Trade Real Estate Telecommunications Oil & Gas 🔹 Rebasing Impact: Better captures Nigeria’s evolving digital economy, services, and informal sector contributions. What Does GDP Rebasing Mean? ✅ Updated Economic Snapshot: Reflects current industries like tech and fintech.✅ More Accurate Growth Measurement: Aligns with modern consumption patterns.⚠️ Not a Growth Miracle: Doesn’t mean Nigerians are suddenly richer—just better counted. Economic Growth in Context ✔ Positive: Economy still expanding despite inflation and FX pressures.✔ Concern: Growth rate remains below population increase (3.5%), meaning per capita income isn’t […]

trending_flat
Nigeria’s GDP Rebasing: N372 Trillion Economy Still 4th in Africa

Nigeria’s Economy Just Got Bigger—But Not Big Enough Nigeria’s Gross Domestic Product (GDP) has officially been rebased from ₦80 trillion to ₦372 trillion, following a recalculation by the National Bureau of Statistics (NBS). Yet, despite this massive upward revision, the country still ranks as Africa’s 4th largest economy, trailing South Africa, Egypt, and Algeria. What Does GDP Rebasing Mean? 📊 Definition: Updating the base year (now 2019) to reflect current economic realities.🔍 Why It Matters: Captures growth in sectors like tech, entertainment, and services that weren’t fully accounted for before.💰 New Numbers: 2024 GDP: ₦372.82 trillion (up from ₦80 trillion) Dollar Value: $242.64 billion (using CBN’s 2024 exchange rate of ₦1,536.50/$) Africa’s Top 5 Economies (2024) 1️⃣ South Africa – $400.26 billion2️⃣ Egypt – $389.05 billion3️⃣ Algeria – $263.61 billion4️⃣ Nigeria – $242.64 billion (after rebasing)5️⃣ Morocco – $154.43 billion Before rebasing, Nigeria’s GDP was just $187.75 billion—now it’s closer but still behind. Why Nigeria Still Lags 🔹 Exchange Rate Woes: Naira depreciation erodes dollar-value gains.🔹 Structural Weaknesses: Over-reliance on oil, weak […]

trending_flat
NECA Warns: Forex Crisis, 30% Interest Rates Pushing MSMEs to Brink

Survival Mode: Nigeria's Business Reality At its 68th Annual General Meeting, the Nigeria Employers' Consultative Association (NECA) painted a grim picture: 📉 47% of Nigerians now live in poverty (up from 39% in 2023)💸 N1,538/$ exchange rate crippling imports🏦 30.8% interest rates freezing business expansion "MSMEs are barely surviving, not thriving," declared NECA President Ifeanyi Okoye. The Paradox of Growth While Nigeria's GDP grew to 3.4% (from 2.23%), key indicators show distress:• Inflation at 22.22%• Fuel subsidy removal aftershocks• Minimum wage policy disruptions "Growth numbers mask severe structural pains," Okoye warned. Policy Wins vs Persistent Threats ✅ Progress: Company Income Tax cut to 25% 50+ nuisance taxes abolished PEBEC's local content push ⚠️ Ongoing Challenges: Rampant smuggling/counterfeiting Regulatory harassment of CEOs AI threatening jobs (NLC warns) Stakeholder Calls to Action 🔹 NECA: "Stop summoning CEOs for trivial hearings"🔹 Labour Minister: Upskill workers for tech transition🔹 NLC's Ajaero: "AI must protect jobs, not erase them" The Way Forward 1️⃣ Consolidated anti-counterfeiting laws2️⃣ Stabilize forex […]

trending_flat
Benue’s Agro-Revolution: Juice Production Launches August 2025 in Sweeping Industrial Push

Benue’s Agro-Industrial Boom: Factories, Jobs, and Local Sourcing The Benue State Government has announced plans to commence large-scale juice production by August 2025, spearheading a transformative agro-industrial agenda. Dr. Raymond Asemakaha, Managing Director of the Benue Investment and Property Company (BIPC), revealed the timeline during an inspection tour of key infrastructure projects aimed at boosting the state’s economy and reducing dependency on informal exports. Key Projects Nearing Completion Juice Factory: Set to process Benue’s famed oranges (currently exported informally) starting August 2025. Beer Factory: 90% complete, using locally sourced rice and cassava to support farmers. Bread Factory: Operational for one year, generating ₦6 million daily and creating 474 direct jobs. Water Plant: Part of a 230,000-liter-per-day facility to improve access and industrial capacity. “We’re tired of outsiders buying our oranges. Benue will now add value,” Asemakaha declared. Economic Impact: Jobs and Local Integration Farmers Boost: Beer and […]

trending_flat
Tinubu’s 2027 Backing Driven by Performance, Not Panic – Sen. Kalu Dismisses Opposition ‘Fear’ Claims

Kalu to Opposition: ‘APC Isn’t Scared, Tinubu’s Results Speak’ Senator Orji Kalu (Abia North) has dismissed claims that President Bola Tinubu’s swelling 2027 re-election endorsements stem from ruling party jitters over opposition alliances, insisting the support is rooted in “performance, not fear.” The APC chieftain’s rebuke comes amid rising speculation about Tinubu’s vulnerability to a Peter Obi-Atiku coalition. ‘APC Delivers, Opposition Whines’ – Kalu’s Defense Addressing Senate correspondents on Tuesday, Kalu, Chairman of the Senate Committee on South-East Development Commission, declared: “The APC isn’t afraid of any coalition. We’re investing in industries to create jobs beyond government. Let the opposition fight—it’s their job. Ours is to deliver, and we are.”Key arguments: Policy Over Politics: Tinubu’s reforms, though painful, aim for long-term stability. Southeast Backing: Governors and federal lawmakers from the region endorsed Tinubu early, defying regional opposition trends. Economic Grit: Kalu praised subsidy removal and […]

Login to enjoy full advantages

Please login or subscribe to continue.

Go Premium!

Enjoy the full advantage of the premium access.

Stop following

Unfollow Cancel

Cancel subscription

Are you sure you want to cancel your subscription? You will lose your Premium access and stored playlists.

Go back Confirm cancellation