Nigeria’s GDP Rebased to ₦205 Trillion, Grows 3.13% in Q1 2025

Nigeria’s Gross Domestic Product (GDP) grew by 3.13% year-on-year in real terms in the first quarter of 2025, according to new data released by the National Bureau of Statistics (NBS) on Monday. This marks a significant improvement over the 2.27% growth recorded in Q1 2024, driven mainly by robust activity in the services and industry sectors. In a related development, the NBS announced that Nigeria’s GDP has been rebased to ₦205 trillion using 2019 as the new base year, replacing the previous 2010 benchmark. Statistician General of the Federation, Adeyemi Adeniran, disclosed that the revised GDP at current prices stood at ₦372.8 trillion (approximately $243 billion) in 2024, reflecting a 41.7% increase from the last rebasing in 2014. Key Highlights of the New GDP Data: Top Sectors by Contribution: The rebased data shows real estate surpassing crude oil and gas due to improved coverage of informal sector activities. Services remain the largest classification, contributing 53.09% of GDP in 2019, followed by agriculture (25.83%) and industries (21.08%). Adeniran also highlighted the growing impact of the informal economy, which accounted for ₦86.85 trillion or 42.5% of GDP in 2019, up from ₦39 trillion in 2015. Read Full Report: News360 Nigeria

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President Tinubu Returns to Abuja After Successful State Visit to Brazil, Secures Key Bilateral Deals

President Bola Ahmed Tinubu arrived back in Abuja at approximately 1:20 a.m. on Thursday following a productive three-day state visit to Brazil. The visit resulted in several significant agreements aimed at deepening Nigeria’s economic and diplomatic ties with South America’s largest economy. The President was welcomed at the Presidential Wing of the Nnamdi Azikiwe International Airport by a high-profile delegation, including Plateau State Governor Caleb Mutfwang, Kaduna State Governor Uba Sani, Imo State Governor Hope Uzodinma, and Kwara State Governor AbdulRahman AbdulRazaq. Also present were top officials such as Speaker of the House of Representatives Tajudeen Abbas, Deputy Senate President Barau Jibrin, Chief of Staff Femi Gbajabiamila, National Security Adviser Nuhu Ribadu, and several ministers, including Nyesom Wike (FCT), Abubakar Atiku Bagudu (Budget and Economic Planning), and Bello Matawalle (Defence, State). During the visit, Nigeria and Brazil signed five key Memoranda of Understanding (MoUs), covering aviation, trade, diplomacy, science, and finance. One notable development was the signing of a Bilateral Air Services Agreement that will enable direct flights between Lagos and São Paulo, to be operated by Air Peace. Additionally, President Tinubu announced the return of Petrobras, Brazil’s state-owned oil giant, to Nigeria, marking a significant shift after the company’s exit from joint ventures five years ago. “We have the largest gas repository in the world. So I don’t see why Petrobras doesn’t rejoin Nigeria as a partner as soon as possible,” Tinubu stated during a joint press conference with Brazilian President Luiz Inácio Lula da Silva in Brasília. Other key agreements included political consultations, scientific collaboration, and agricultural financing, with Nigeria’s Bank of Agriculture and Brazil’s National Bank for Economic and Social Development playing pivotal roles in these efforts. While in Brazil, President Tinubu also courted Brazilian investors, highlighting Nigeria’s stable and transparent economic environment. He pointed to recent growth in Nigeria’s capital markets as evidence of renewed investor confidence and committed to implementing reforms aimed at unlocking capital, protecting investments, and fostering innovation. In a meeting with Nigerians living in Brazil, the President encouraged the diaspora to take a more active role in Nigeria’s development, particularly in driving technology-driven growth and food security. “We must bring Nigeria to the forefront of Africa’s progress, driven by technology, food sovereignty, and the courage to change our destiny,” Tinubu emphasized. The visit also featured red-carpet honors, cultural exchanges, and productive bilateral talks, which both leaders hailed as the beginning of a new era in Nigeria-Brazil relations.

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Tinubu Reconstitutes Boards of NCC and USPF

President Bola Ahmed Tinubu has approved the reconstitution of the boards of the Nigerian Communications Commission (NCC) and the Universal Service Provision Fund (USPF), both under the Ministry of Communications, Innovation and Digital Economy. According to News360 Nigeria, Idris Olorunnimbe has been appointed Chairman of the NCC, while Dr. Aminu Maida retains his position as Executive Vice Chairman and Chief Executive Officer. Other NCC board members include Abraham Oshidami, Rimini Makama, Hajia Maryam Bayi, Col. Abdulwahab Lawal (Rtd), Senator Lekan Mustafa, Chris Okorie, Princess Oforitsenere Emiko, and the Board Secretary. For the USPF, Communications Minister Dr. Bosun Tijani will serve as Chairman, with Olorunnimbe as Vice Chairman. Members include Oshidami, Makama, Aliyu Edogi Aliyu, Joseph B. Faluyi, Auwal Mohammed, Uzoma Dozie, Peter Bankole, Abayomi Anthony Okanlawon, Gafar Oluwasegun Quadri, and the Fund’s Secretary. The USPF is tasked with expanding ICT access to rural, unserved, and underserved communities across Nigeria.

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Tinubu Replaces Muheeba Dankaka as Federal Character Commission Chair Appoints Ayo Omidiran

President Bola Ahmed Tinubu has withdrawn the reappointment of Dr. Muheeba Dankaka as Chairperson of the Federal Character Commission (FCC) and named Hon. Ayo Omidiran, a former member of the House of Representatives, as her replacement. News360 Nigeria reports that the change followed an earlier statement from Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, announcing Dankaka’s nomination. A subsequent release revealed the decision was reversed due to controversies surrounding her tenure. The President also appointed Mohammed Musa as the FCC Secretary and retained Kayode Oladele, the commissioner from Ogun State, who has been serving as Acting Chairman since 2024. Other reappointments include Lawal Ya’u Roni (Jigawa), Abubakar Atiku Bunu (Kebbi), Eludayo Eluyemi (Osun), and Abdulwasiu Kayode Bawalla (Lagos). The newly appointed commissioners are: Hon. Obina Oriaku (Abia), Mrs. Bema Olvadi Madayi (Adamawa), Obongawan Dora Ebong (Akwa Ibom), Hon. Nnoli Nkechi Gloria (Anambra), Babangida Adamu Gwana (Bauchi), Sir Tonye Okio (Bayelsa), Aligba Eugene Tarkende (Benue), Engr. Modu Mustapha (Borno), Dr. Stella Odey Ekpo (Cross River), and Ederin Lovette Idisi (Delta). Others include Barr. Nwokpor Vincent Nduka (Ebonyi), Hon. Chief Victor Sabor Edoror (Edo), Hon. Sola Fokanle (Ekiti), Peter Eze (Enugu), Ibrahim Baba Mairiga (Gombe), Hon. Jerry Alagbaoso (Imo), Ruth Jumai Ango (Kaduna), Muhammad Awwal Nayya (Kano), Hon. Anas Isah (Katsina), Bello Idris Eneye (Kogi), Dr. Ibrahim Abdullahi (Kwara), Alh. Isah Jibrin (Niger), Comrade Ajimudu Bola (Ondo), Prince Ayodeji Abas Aleshinloye (Oyo), Hon. Pam Bolman (Plateau), Aaron Chukwuemeka (Rivers), Alh. Aminu Tambar (Sokoto), Comrade Bobboi Bala Kaigama (Taraba), Hon. Jibir Maigari (Yobe), Sani Garba (Zamfara), and Solomon Ayuba Dagami (FCT).

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Babachir Lawal Slams Tinubu Administration, Alleges Nepotism and Policy Failures

Former Secretary to the Government of the Federation (SGF), Babachir Lawal, has criticised President Bola Tinubu’s administration, saying he would not have survived in the current cabinet and would have resigned if appointed. Speaking on Channels Television’s Politics Today on Monday, Lawal said, “I thank God that I didn’t make the mistake of being in this government ab initio. If I were in this government, I probably would have been sacked a long time ago, killed or resigned.” Lawal accused the Tinubu government of nepotism, alleging that most key positions were dominated by individuals from the Yoruba ethnic group. “I cannot go to a meeting in which 99 per cent of the participants are Yoruba. The tendency is that they finish the meeting in their language, and I am just sitting there,” he said. He recalled incidents during the 2023 campaign in which northern supporters of Tinubu were allegedly insulted, adding: “The problem with the Yoruba is that when you support them and they win, they behave as if they have subdued you.” The former APC member also faulted Tinubu’s economic policies, citing the removal of fuel subsidy in May 2023. He claimed Nigerians had yet to see any benefits and alleged that the government was still secretly paying subsidy. On the 2023 presidential election, Lawal accused the APC of rigging the polls and insisted that Labour Party’s Peter Obi was the rightful winner.

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Tinubu Signs Landmark Insurance Industry Reform Bill into Law

Tinubu Signs Landmark Insurance Industry Reform Bill into Law

President Bola Ahmed Tinubu has signed the Nigerian Insurance Industry Reform Bill, 2025 into law — a sweeping legislation aimed at modernising Nigeria’s insurance sector, boosting financial stability, and supporting the country’s goal of becoming a $1 trillion economy. The Nigerian Insurance Industry Reform Act (NIIRA) 2025 repeals and consolidates multiple outdated insurance laws into a single, modern framework for regulating all insurance and reinsurance operations in the country. Under the Renewed Hope Agenda for the Insurance Sector, the new Act introduces: The law mandates the National Insurance Commission (NAICOM) to enforce its provisions and drive reforms that will improve insurance penetration nationwide. According to the Presidency, the NIIRA 2025 will attract new investments, enhance transparency, spur innovation, and position Nigeria as a leading insurance hub in Africa.

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Tinubu Rewards D’Tigress With $100,000 Each, Houses, and National Honours

President Bola Ahmed Tinubu has rewarded members of Nigeria’s women’s national basketball team, D’Tigress, with national honours, one flat each, and cash prizes following their historic fifth consecutive victory at the 2025 FIBA Women’s AfroBasket Championship. At a presidential reception held Monday at the Presidential Villa, and represented by Vice President Kashim Shettima, President Tinubu conferred the Officer of the Order of the Niger (OON) title on every player and member of the technical crew. Each player will receive the naira equivalent of $100,000, while the coach and technical staff will receive $50,000 each. “You have conquered Africa and opened the door to global greatness,” Tinubu said, praising the team’s 78–64 win over Mali and their qualification for the 2026 FIBA Women’s World Cup Pre-Qualifying Tournament. The President commended Coach Rena Wakama for her leadership and praised Amy Okonkwo (tournament MVP) and Ezinne Kalu (top scorer in the final) for their individual brilliance. Tinubu also hailed Nigerian women for their consistency in sports excellence, noting recent triumphs by the Super Falcons and athletes on the global stage. The First Lady, Senator Oluremi Tinubu, described the win as a “resounding statement of hard work, excellence, and national pride,” saying it will inspire generations of Nigerian girls to pursue greatness. Captain Amy Okonkwo thanked the President and First Lady for their support, pledging that the team will continue to make the nation proud.

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Economic Growth vs. Public Welfare: Is Nigeria’s Rising GDP Helping the People?

Emi Lokan or Lagos Lakon Tinubu’s Federal Projects Spark Unease Over Regional Equity

Since the inception of President Bola Ahmed Tinubu’s administration, one state has clearly emerged as the biggest beneficiary of federal projects—Lagos. While no one disputes the strategic and economic importance of Lagos, many Nigerians are beginning to question the sheer volume—and value—of federal allocations being funneled into the state, raising serious concerns about fairness, equity, and national inclusion. For example, in just the first two years of his presidency, President Tinubu has either approved or initiated the following major infrastructure projects in Lagos: Add to these the ongoing University of Lagos Independent Power Project, the Renewed Hope Housing City, and several other smaller federal interventions, and the numbers quickly climb into the trillions. All of this within just two years. Meanwhile, in other regions—especially in the North and far East—concrete federal projects are either minimal or invisible. Kano State, for instance, has little more than an announced Renewed Hope City and some yet-to-be-executed approvals with no real groundwork on the ground. This trend raises legitimate concerns: Supporters of the president often justify these projects by pointing to Lagos’s profitability and position as the country’s economic nerve center. While that may be true, it ignores a vital principle of federalism—balanced development. No region becomes economically viable without significant investment. If the same kind of infrastructure spending were directed toward Kano, Enugu, Sokoto, or Akwa Ibom, they too would become high-yield economic zones over time. Even within the South West, there’s imbalance. Other states in the zone are not seeing the kind of aggressive development Lagos is enjoying. What is playing out appears less like “South West favoritism” and more like Lagos exceptionalism. More troubling is that appointments under Tinubu are also heavily Lagos-centric. Many key federal positions are occupied by individuals with strong political or personal ties to Lagos, sidelining not only other regions, but even Tinubu’s home region in a broader sense. Equity, fairness, and justice should guide leadership decisions—especially in a country as diverse and historically polarized as Nigeria. Preferential treatment on this scale risks deepening divisions, breeding resentment, and fueling narratives of exclusion. For Lagosians with a sense of national unity and justice, this shouldn’t be a matter of partisan defense or tribal loyalty. It’s a call to introspection: Are we witnessing a presidency for all Nigerians—or just for Lagos? As we move toward 2027, these questions will only grow louder. And if the current trend continues through to 2031, historians may one day look back and ask: Was this the most regionally skewed administration in Nigeria’s democratic history? One thing is certain—prosperity without justice is not sustainable. We must speak now, not just for today, but for the record, and for posterity.

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