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Nigeria Needs 21.9% Growth And N1,500/$ To Hit $1 Trillion Dream — Report

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Nigeria would need to maintain a minimum annual growth rate of 21.9 percent at an exchange rate of N1,500 to the dollar, or achieve a stronger exchange rate at a lower growth rate, to reach a $1 trillion economy by 2031, according to Nivo News. The projection was detailed in Afrinvest West Africa Limited’s 20th Nigeria Banking Sector Report 2025, titled “ACT-BOLD: Beyond a Trillion Dollar Economy.”....KINDLY READ THE FULL STORY HERE▶

The report explained that following the rebased GDP, Nigeria’s nominal output in 2024 stood at N372.8 trillion, equivalent to $251 billion at an average exchange rate of N1,484.99 per dollar, compared to N277.5 trillion under the old base year — a 34.4 percent increase. It stated that to attain the $1 trillion milestone by 2031, Nigeria must sustain rapid economic growth or rely on significant currency stability.

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Afrinvest recommended that the government adopt its “ACT-BOLD” framework, described as a strategy for reengineering the economy through decisive, transparent, and reform-driven policies. The report cautioned that while the Tinubu administration has expressed confidence in the banking sector’s role in achieving the $1 trillion target, longstanding structural barriers must be addressed to unlock broad-based growth.

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The unveiling of the report also coincided with Afrinvest’s 30th anniversary. Group Managing Director, Dr. Ike Chioke, described the firm’s three-decade journey as one of resilience, innovation, and leadership in shaping Nigeria’s financial markets. He added that the Banking Sector Report, first published in 2006, continues to serve as a trusted guide for policymakers, investors, and financial institutions navigating the nation’s economic landscape.

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Nigeria Cleric Egbaji Regains Freedom After Two Years in Detention, FG Commended.

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Bamidele Kehinde, Director of Dynamic Ambassadors for Social Orientation Initiatives and the City Transformation Project, has expressed appreciation to the Federal Government of Nigeria for its efforts in securing the release of Pastor Benjamin Egbaji, who was reportedly held in detention in the Republic of Benin for over two years under difficult conditions.....KINDLY READ THE FULL STORY HERE▶

Pastor Egbaji, a Nigerian cleric, was said to have endured harsh treatment during his detention, including prolonged confinement. His release followed a presidential pardon granted by the authorities in Benin Republic under President Patrice Talon.

Speaking on News Central TV, Dr. Kehinde praised the diplomatic efforts that led to the cleric’s freedom, describing the process as lengthy and challenging. He noted that significant progress was achieved after Bianca Odumegwu-Ojukwu was appointed Minister of State for Foreign Affairs.

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He stated that although there was no personal connection or financial influence involved, the minister actively engaged Benin Republic authorities through diplomatic channels. According to him, her visit and negotiations played a key role in securing Pastor Egbaji’s release.

Dr. Kehinde also commended all individuals and institutions that contributed to the advocacy efforts, including Moses Eyo, Dickson Umu Unung, the Cross River State Government, CP Alobi Lawrence (rtd), Joseph Bisong Ayi, Blessing Harrison, Eze Sampson, and Rt. Hon. Legor Idagbo.

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He said their combined efforts were instrumental in achieving the cleric’s freedom.

He added that while Egbaji’s release is a major relief, the cleric now faces the task of recovering and rebuilding his life after years of hardship. He called for continued support to help him reintegrate into society.

Dr. Kehinde also urged stronger government commitment to protecting Nigerian citizens abroad and enhancing diplomatic engagement across West Africa to prevent similar cases in the future.

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Recruitment Drama: 360,923 Candidates Fail Paramilitary Selection Process.

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The Civil Defence, Correctional, Fire, and Immigration Services Board (CDCFIB) has provided an update on its ongoing nationwide recruitment exercise.....KINDLY READ THE FULL STORY HERE▶

The board stated that 1,120,491 applications were successfully completed and processed, allowing candidates to proceed to the computer-based test (CBT) stage.

It also disclosed that 432,935 applications were left incomplete, while 360,923 applicants were disqualified during screening and shortlisting for failing to meet the required criteria.

In total, the recruitment exercise recorded over 1.8 million applications across the country.

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The exercise covers agencies under the board, including the Nigeria Immigration Service, Nigeria Security and Civil Defence Corps, Federal Fire Service, and the Nigeria Correctional Service.

CDCFIB also released a breakdown of CBT performance, showing that 221,996 candidates scored between 0–40, 229,155 scored between 41–60, 278,543 scored between 61–80, while 142,697 scored between 81–100.

The recruitment process is now expected to move to the next stage, which includes physical screening and document verification. Shortlisted candidates will be contacted with details of their screening venues, dates, and required documents.

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The board reiterated that the entire process is free of charge and advised applicants to rely only on official communication channels for updates, warning against misinformation and unauthorized messages circulating online.

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NAF Addresses Sambisa Strike, Insists Mission Was Carefully Targeted.

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The Nigerian Air Force (NAF) has confirmed that its Air Component of Operation HADIN KAI conducted precise airstrikes in the Yuwe axis of the Sambisa Forest, resulting in the elimination of several terrorist elements on Monday.....KINDLY READ THE FULL STORY HERE▶

This was contained in a statement issued on Tuesday in Abuja by the Director of Public Relations and Information, Air Commodore Ehimen Ejodame, who noted that military operations in the North-East continue to maintain strong pressure on insurgent groups.

He explained that the operation was based on credible intelligence, supported by Intelligence, Surveillance, and Reconnaissance (ISR) activities, which identified active terrorist presence within fortified positions and underground hideouts.

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According to him, NAF air platforms successfully engaged the targets using precision-guided munitions, destroying the structures, neutralising multiple terrorists, and dismantling key logistics facilities. This was later confirmed through battle damage assessments.

The statement added that sustained air operations have continued to weaken terrorist networks, disrupting their activities and forcing them into more defensive and unstable responses.

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The Chief of the Air Staff, Air Marshal Sunday Aneke, also reiterated the Air Force’s commitment to maintaining continuous, intelligence-driven operations aimed at completely neutralising terrorist threats.

He further assured that the NAF remains focused on protecting its personnel, safeguarding national security, and ensuring the safety of citizens, while continuing precision operations in line with strict rules of engagement to minimise civilian impact.

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