By the AFREEQUE newsroom, based on P.M. News
Nigerian President Bola Tinubu said the non-oil sector now accounts for about 96% of Nigeria’s gross domestic product, with foreign exchange reserves reaching $55 billion, equivalent to more than 14 months of imports. Speaking on Thursday in Abuja at the presentation of a book on economic diversification, he reaffirmed the goal of a $1 trillion economy by 2030, according to P.M. News.
Nigerian President Bola Tinubu is asking the House of Representatives to authorise 10.79 trillion naira in new external borrowing. The amount, equivalent to $7.71 billion at the budget rate of 1,400 naira per dollar, completes a 29.22 trillion-naira programme to finance the federal deficit, according to Punch.
🇳🇬 Nigeria · Source: Punch ·
Ghana is targeting real GDP growth of about 8% and unemployment below 8% by 2030, Finance Minister Cassiel Ato Forson announced. The government also wants a path towards an investment-grade sovereign rating, according to MyJoyOnline.
🇬🇭 Ghana · Source: MyJoyOnline ·
The Nigerian Senate warns oil regulatory agencies against administrative blockages, inefficiency and a lack of transparency that could hinder Bola Tinubu’s reforms. The Senate committee overseeing the downstream oil sector examined the nominations of seven NMDPRA executive directors on Thursday, according to Punch.
🇳🇬 Nigeria · Source: Punch ·
The Nigerian Institute of Quantity Surveyors (NIQS) warns that delayed payments to public works contractors could trigger a wave of construction-sector bankruptcies. Its president, Aminu Muhammad Bashir, called on President Bola Tinubu to examine contractors’ situation at a press conference in Abuja.
🇳🇬 Nigeria · Source: Leadership ·
Sanwo-Olu calls for investment across the food chainLagos Governor Babajide Sanwo-Olu calls for stronger investment across the food chain to improve food security. He also backs implementation of Lagos’s five-year agricultural and food systems roadmap with the private sector and other levels of government.
Ghana allocates 685 million cedis to Kejetia MarketGhana’s government plans 685 million cedis to complete the second phase of Kejetia Market in Kumasi in the 2027 budget. The funding is part of 17.6 billion cedis for local government, traditional authorities and religious affairs, according to Minister Cassiel Ato Forson.The week in Africa
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