FAAC allocation rises 43% to record N15.26trn in 2024
Post AMUGE
March 19, 2025
Onome Amuge The Federation Accounts Allocation Committee (FAAC) set a new benchmark for revenue distribution in 2024, disbursing a total of N15.26 trillion to the federal, state, and local governments. The figure stands as the highest revenue allocation figure in the history of Nigeria, representing a 43 percent increase compared to previous years, as highlighted […]
Economy takes backstage as Tinubu slams emergency rule on Rivers
Post AMUGEMarch 19, 2025
Suspends Gov Fubara, deputy, assembly for 6-mnths 2025 budget permanently stalled Ben Eguzozie, in Port Harcourt The economy of oil-rich Rivers State, with a GDP size of more than $28.4bn, has taken a disreputable backstage as President Bola Tinubu finally weighed in over several months of escalating political tensions in the state, appointing a sole […]
Reps to CBN: suspend ATM fee hike, stop squeezing Nigerians
Post AMUGEMarch 12, 2025
Joy Agwunobi The House of Representatives has called for an immediate suspension of the recent increase in ATM transaction charges and the discontinuation of free ATM withdrawals for customers using other banks’ machines, as directed by the Central Bank of Nigeria (CBN). The lawmakers argued that the CBN’s decision to raise ATM withdrawal fees and […]
Rivers $28.4bn economy back on edge over Supreme Court’s verdict
Post AMUGEMarch 10, 2025
Investors leaving in droves State lost N2trn public sector investment in 12 yrs Ben Eguzozie, in Port Harcourt Governor Siminalayi Fubara Rivers State’s $28.4 billion economy is back on edge following the unsettling Supreme Court judgement on 28 February. It was hardly out of politically-instigated ruffles since Governor Siminalayi Fubara came into office in May […]
Nigeria’s February PMI shows strongest productivity growth in 14 months
Post AMUGEMarch 10, 2025
Onome Amuge The Nigerian economy experienced its fastest growth in productivity since January 2024 in February 2025, according to the recent Purchasing Manager’s Index (PMI) report from Stanbic IBTC Bank. This is as the headline figure jumped from 52.0 in January 2025 to 53.7 in February 2025. February 2025’s upturn in the PMI score not […]
Educational reforms: Key to unlocking billions in Nigeria’s economic growth
Post AMUGEMarch 7, 2025
By Alex Oware, Regional Director, YP4T “Education is the most powerful weapon which you can use to change the world.” — Nelson Mandela Few statements capture the transformative power of education as succinctly as this one. Across history, nations that have placed education at the core of their development strategies have reaped immense rewards, fostering […]
Analysts show cautious optimism as Nigeria sees 3.84% GDP growth in Q4 2024
Post AMUGEMarch 3, 2025
Over reliance on services sector is detrimental to sustainable growth- LCCI Onome Amuge Nigeria’s economic stakeholders have greeted the latest GDP data released by the National Bureau of Statistics (NBS) with a mix of enthusiasm and pragmatism. The optimistic implications of the data have not gone unnoticed, while stakeholders have remained grounded in the potential […]
Olugbuyiro Akinola assumes office as TAT commissioner amid FG’s fiscal justice reforms
Post AMUGEFebruary 26, 2025
Onome Amuge Wale Edun, minister of finance and coordinating minister of the economy, in a handshake with Olugbuyiro Akinola, newly appointed Federal Commissioner, Tax Appeal Tribunal, flanked by staff of Ministry of Finance in Abuja, recently Olugbuyiro Akinola, a distinguished legal practice, specializing in tax law, litigation, and public policy has been sworn in as […]
Services sector fuels Nigeria’s 3.84% GDP expansion in Q4 2024
Post AMUGEFebruary 25, 2025
Onome Amuge Nigeria’s Gross Domestic Product (GDP) expanded 3.84 percent in the fourth quarter of 2024, a 3.46 percent increase from the corresponding quarter in 2023, driven yet again by the services sector. The figure also marked a slight increase from the previous quarter, which recorded an identical 3.46 per cent growth rate. The latest […]
Rebased inflation rate raises concerns over true cost of living
Post AMUGEFebruary 24, 2025
Onome Amuge Nigeria’s inflation rate, which had been experiencing a sustained upward trajectory in recent months, witnessed a dip in January. The decline, revealed in the latest Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS), is primarily attributed to the agency’s decision to re-base the index. The NBS rebasing initiative, a […]