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IMF’s Report On Nigeria’ll Reassure Investors – Don

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9 years ago

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A university teacher, Prof.
Badayi Sani, has said that the International Monetary Fund’s (IMF) latest report, which rated Nigeria as Africa’s largest economy, would boost investors confidence in the country.
The IMF in its World Economic Outlook for October projected Nigeria as the biggest economy in Africa ahead of South Africa and Egypt.
Sani told newsmen in Abuja that the rating had the potential to not only increase Foreign Direct Investments (FDIs) but also bring back lost investments.
According to the economics teacher at Bayero University, Kano, it is also a signal to domestic entrepreneurs and indigenous industries to change their decisions of relocating their investments outside the country.
He added that the rating would make potential non-indigenous investors to come to the country “and also enable those with investments in the country already to increase it”.
He said that agriculture and the mineral sector held huge potential for attracting FDIs to the country due to the endowments that had remained untapped.
An analyst, Mr Jude Ndukwe, who also spoke, however, said that there was need to know the parameters used by IMF to arrive at the rating.
“I am interested in knowing the parameters that IMF used to reach that conclusion in spite of the obvious sufferings and recession in the country.
“However, if in this kind of suffering, IMF says we are still the largest in Africa, it simply means that if this administration concentrates on resuscitating the economy instead of propaganda, things will be better.
“I want to advise the government to take advantage of this good news in the midst of the bad news going all over Nigeria to concentrate on working on the economy,” he said.
Ndukwe added that it would be only when the economy “stops biting hard on the citizens and the prices of goods and services begin to go down that Nigerians will believe the report’’.
In August, 2016, Nigeria was reported to have lost its spot as Africa’s biggest economy to South Africa, following the recalculation of South Africa’s Gross Domestic Product (GDP).
But, current estimates from IMF, however, put Nigeria’s GDP at 415.08 billion dollars for 2016, from 493.83 billion dollars at the end of 2015.

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Kenyan Runners Dominate Berlin Marathons

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4 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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4 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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4 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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