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Nigeria Needs 21.9% Growth And N1,500/$ To Hit $1 Trillion Dream — Report
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.
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.
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.
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▶
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Recruitment Drama: 360,923 Candidates Fail Paramilitary Selection Process.
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▶
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NAF Addresses Sambisa Strike, Insists Mission Was Carefully Targeted.
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▶
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