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Key Business Stories to Watch This Week

By  Milcah   Tanimu

  1. 2025 Budget Presentation
    President Bola Tinubu will present Nigeria’s N47.9 trillion 2025 budget to the National Assembly on December 17. Key projections include a $75 oil benchmark, 2.06 million bpd production, and a GDP growth target of 6.4%.
  2. November Inflation Report
    The National Bureau of Statistics (NBS) will release the November consumer price index (CPI) and inflation report. October’s inflation rate was 33.8%.
  3. Oil Production Milestones
    Nigeria retained its position as Africa’s largest oil producer in November, with output rising to 1.48 million bpd, surpassing Algeria and Congo.
  4. CBN Warnings and Updates
    • Banks face N150 million fines for supplying mint naira notes to hawkers.
    • Old and redesigned naira notes remain valid indefinitely, as confirmed by the Supreme Court.
  5. Energy and Power Updates
    • Vice-President Kashim Shettima inaugurated a $315 million FPSO vessel, enhancing Nigeria’s oil storage and production.
    • Nigeria plans to add 150 MW of electricity to the national grid before year-end, following progress in the Presidential Power Initiative.

Stay updated on these developments shaping Nigeria’s business landscape.

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