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Key Business Stories to Watch This Week

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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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