Author: Adekunle

In just the fourth quarter of 2024, Nigeria spent over ₦237 billion importing solar panels. This is more than a staggering figure—it is a clear indication of the urgent need for local manufacturing capacity in the renewable energy sector. This moneys can do better if kept in Nigeria—whether to be invested in manufacturing business or to spur innovation in the technology sector. Mr. Khalil Suleiman Halilu, Executive Vice Chairman/CEO of the National Agency for Science and Engineering Infrastructure (NASENI), captured the gravity of the situation best: “Nigeria’s overdependence on imported solar panels is not sustainable. Local manufacturing is the…

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced a significant revenue breakthrough for the Federal Government, revealing that N6.9 trillion was generated between January and April 2025 — a 40% increase from the N5.2 trillion recorded in the same period last year. Speaking during the Q2 2025 Citizens and Stakeholders’ Engagement Session on fiscal performance and reform outlook held in Abuja, Edun attributed the improvement to a combination of strong fiscal discipline and key monetary policy reforms under the Tinubu administration. “There is a commitment to diligently go after all that should…

The Federal Government’s commitment to economic reform and development took center stage today as the Federal Ministry of Finance held its Citizens and Stakeholders Engagement on the Implementation of Presidential Priorities and Ministerial Deliverables for second quarter of 2025 in Abuja. This quarterly engagement is designed to foster transparency, accountability, and inclusive growth, providing a platform for stakeholders to engage with the Ministry on its progress and challenges. The Ministry’s efforts were highlighted in the keynote address by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who provided a comprehensive update…

The Honourable Minister of State for Defence, Dr. Bello Muhammad Matawalle, MON, has announced the establishment of the International Centre for Electronic Navigational Charts (ENC) – West Africa Regional Office and Training Centre – to be hosted by Nigeria’s National Hydrographic Agency (NHA). The announcement was made during his keynote address as Special Guest of Honour at the 2025 World Hydrography Day Conference, held at the Ladi Kwali Conference Hall, Abuja Continental Hotel. Hosted by the Hydrographer of the Federation and CEO of the NHA, Rear Admiral Ayo Olugbode, the conference convened regional and international stakeholders to spotlight…

The Honourable Minister of State for Defence, Dr. Bello Muhammad Matawalle, MON, has reaffirmed the Federal Government’s commitment to restoring peace and security in Benue State, following a brutal attack that claimed the lives of over 150 civilians in Yelewata community, Guma Local Government Area. Dr. Matawalle was among top dignitaries who accompanied the Commander-in-Chief of the Armed Forces, President Bola Ahmed Tinubu, GCFR, on a high-level security assessment visit to the affected area on Tuesday. The delegation also included the service chiefs, senior intelligence officers, and other federal officials. The visit came in the wake of what…

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has welcomed Shell’s renewed commitment to Nigeria’s energy sector, expressing strong optimism about the company’s ongoing and future investments in the country. Mr. Edun gave the assurance on Tuesday during a meeting with a senior delegation from Shell Petroleum Development Company (SPDC) Nigeria Limited, led by the Managing Director and Country Chair, Mr. Osagie Okunbor, at his office in Abuja. The Minister applauded Shell’s continued contributions to Nigeria’s economic development and reaffirmed the administration of President Bola Ahmed Tinubu’s commitment to sustaining macroeconomic reforms, attracting long-term capital,…

In a move aimed at reinforcing macroeconomic stability, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Friday met with the Governor of the Central Bank of Nigeria (CBN), Dr. Yemi Cardoso, to strengthen coordination between fiscal and monetary policies. The meeting comes as Nigeria records a further decline in inflation, which eased to 22.97% in May 2025 — a development officials are keen to consolidate. Discussions between the two top economic managers centred on strategies to sustain this downward trend, stabilize prices, and support investor confidence. Both officials acknowledged that closer alignment…

For years, Nigeria’s economy staggered under the weight of distortions that rewarded insiders and punished the wider population. Billions of dollars were drained each year to sustain fuel subsidies—a scheme that, while politically popular, served more as a sluice gate for corruption than a safety net for the poor. It is estimated that over a quarter of subsidized petroleum products were siphoned off and resold across neighbouring countries, like Niger, Cameroun and Benin Republci. The system not only bled government coffers dry but also stifled private investment in refining, leaving Africa’s largest crude producer paradoxically dependent on imports for its…

By Taye Paul Olubayo Let us speak plainly. Nigeria has always been generous in producing men who speak thunder but deliver drizzle. The country has no shortage of promises, nor of those who make them in designer agbada and sanctimonious tones. Yet now and then, out of the smoke and noise, someone steps forward who does not seek applause, who does not dance for cameras, who simply works. Nuhu Ribadu is one such man. He is remembered still, perhaps with a mix of reverence and fear, as the relentless enforcer who once held the Economic and Financial Crimes…

As Nigeria celebrates Democracy Day 2025, the Honourable Minister of State for Defence, Dr. Bello Muhammad Matawalle, MON, has extended warm greetings to Nigerians, while paying special tribute to the nation’s Armed Forces for their unwavering dedication to safeguarding the country’s territorial integrity and preserving democratic governance. In a statement issued to mark the occasion, Dr. Matawalle described June 12 as a symbol of Nigeria’s national resolve and collective aspiration. According to him, the democracy being celebrated today was not handed down lightly, but earned through heroic struggles and the supreme sacrifices of patriots who dared to envision a…