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Showing posts with the label economic policy

How BUA Group Is Cutting Costs on Food and Cement in Nigeria

Abdul Samad Rabiu In a nation where countless families grapple with escalating food costs each day, and where economic strategies frequently seem out of touch with the everyday person’s experiences, a ray of optimism surfaced via a practical partnership between the private industry and the administration. Abdul Samad Isyaku Rabiu, the billionaire industrialist and chairman of BUA Group, has proposed what many are calling a masterful move by taking advantage of the federal government's duty waiver to substantially lower the price of crucial food items in Nigeria. After a private meeting with President Bola Ahmed Tinubu, Rabiu informed reporters about how his firm took advantage of the six-month tax exemption on essential food products to bring in significant amounts of wheat, corn, and rice. The outcome, evident on store shelves and in daily discussions among ordinary Nigerians, has been a noticeable decrease in food prices, providing an unusual respite amidst Nigeria’s i...

UN Predicts Global Economic Growth Slowing to 2.4%, While China's Economy Expected to Reach 4.6% in 2025

New York [ US On May 16 (ANI): The global economy is facing increasing pressure, as growth is anticipated to decelerate to 2.4 percent in 2025, down from 2.9 percent in 2024, according to the UN 's Global Economic Conditions and Outlook report. The report further points out decelerations in key economic powerhouses, including China , where the economy is expected to expand by 4.6 percent, hindered by sluggish consumer spending and ongoing issues within the real estate sector. India The projected economic growth for 2025 has been adjusted downwards to 6.3 percent, yet it continues to be among the quickest expanding major economies. On Thursday, a press release was distributed stating the following: United Nations stated, "The global economy finds itself in a critical situation, characterized by increased trade conflicts and raised policy unpredictability, as stated by the Global Economic Conditions a...