The Minister of Finance, Mr Wale Edun, has emphasised the crucial role of the capital market in achieving the nation’s ambitious goal of becoming a one-trillion dollar economy. Speaking at the Capital Market Committee (CMC) meeting, the minister highlighted the market’s transformation since 2015. He said that with improvements in governance structures, new READ MORE
Category: Economy
Nigeria: NIMASA unveils First Bank, Zenith Bank, UBA, 9 other banks to disburse Cabotage Fund single-digit interest
The Nigerian Maritime Administration and Safety Agency (NIMASA) has selected First Bank, Fidelity Bank, Zenith Bank, UBA, Jaiz Bank, Lottos Bank and six other Primary Lending Institutions (PLIs) that will disburse the long-awaited Cabotage Vessels Financing Fund (CVFF) at a single-digit interest rate. The Director-General of NIMASA, Dr Dayo Mobereola who disclosed this during READ MORE
FG plans to drive made-in-Nigeria products with Nigeria First Policy
The Federal Government has expressed its readiness to prioritise made-in-Nigeria products, to boost the nation’s self-reliance using the Renewed Hope Nigeria First Policy. The Secretary to the Government of the Federation (SGF), Sen. George Akume who disclosed this on Wednesday when he visited Gov. Alex Otti of Abia in Nvosi, Isiala Ngwa South Local Government READ MORE
FEC unveils Nigeria First policy to boost local industries
The Federal Executive Council (FEC) has approved the Renewed Hope Nigeria First Policy, an initiative by President Bola Tinubu aimed at placing Nigerians at the heart of all business and economic activities in the country. Minister of Information and National Orientation, Alhaji Mohammed Idris who disclosed this to State House Correspondents after the FEC READ MORE
Nigeria govt inaugurates RBDA teams, charges them to drive innovation, expand irrigation for food security
Nigeria’s Minister of Water Resources and Sanitation, Prof. Joseph Utsev, has called on the newly inaugurated board and executive management teams of the River Basin Development Authorities (RBDAs) to chart a unified, forward-thinking course for the sector. Speaking during a two-day inauguration and retreat in Abuja on Friday, Prof. Utsev urged the appointees to READ MORE
Nigeria partners World Bank to develop job-creation agenda – Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says Nigeria is working with the World Bank to develop a job-creation agenda. Edun made this known during an interview with journalists after the World Bank Development Committee plenary held on Friday in Washington D.C. He said the meeting focused READ MORE
Nigeria: NEC approves key revival initiatives
Nigeria’s National Economic Council (NEC) has approved key economic revival initiatives, including the creation of Green Imperative Project (GIP) national office in Abuja and regional offices in six geopolitical zones. The council also approved the formal launch of the National Agribusiness Policy Mechanism. During the 149th council meeting on Thursday, Vice-President Kashim Shettima READ MORE
IMF chief sees improved Nigeria’s macroeconomic outlook with FG reforms
Mr Jason Wu, Assistant Director for Global Markets, International Monetary Fund (IMF), said that the recent government reforms had improved Nigeria’s macroeconomic outlook. Wu said this at the ongoing IMF/World Bank 2025 Spring Meetings in Washington, D.C. on Tuesday, during the release of the agency’s Global Financial Stability report for April 2205. He READ MORE
Nigeria: FG gazzettes ECOWAS tarriffs, advancing AfCFTA implementation
The Federal Government has gazetted and transmitted the ECOWAS schedule of tariff offers for Trade in Goods under the African Continental Free Trade Area to its secretariat. Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said this through a statement issued in Abuja on Tuesday. Oduwole said that, the move was ahead READ MORE
AfDB wants Africa to move beyond raw mineral exports to processing and value addition
The African Development Bank (AfDB), has called on African nations to take strategic positions in the global energy transition by shifting from raw mineral exports to processing and value addition. The AfDB President, Dr Akinwumi Adesina, in a statement on Sunday, reiterated Africa’s crucial role in supplying strategic minerals needed for clean energy technologies. READ MORE
Nigeria: Minister calls on investors to take advantage of economic potential
The Federal Government of Nigeria has called on investors, both foreign and local, to take advantage of Nigeria’s economic potential to invest in the country. The Minister of Industry, Trade and Investment, Dr Jumoke Oluwole, made the call at the third edition of the Digital Innovation and Creative Excellence (DICE) gathering in Lagos. READ MORE
Nigeria govt inaugurates committee for effective implementation of AfCFTA
The Federal Government of Nigeria has inaugurated a committee to ensure strong implementation of the African Continental Free Trade Area (AfCFTA) to strengthen trade and economic growth. The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, while inaugurating the AfCFTA Central Coordination Committee, in Abuja on Tuesday, said that the committee would drive READ MORE
Africa: AfDB invests $8b in water infrastructure
The African Development Bank (AfDB) has invested over $8 billion in water infrastructure across 40 African countries since 2000, benefiting more than 92 million people. Mr Johannes Chirwa, Director, Water Development and Sanitation Department, AfDB, said this at the African Ministers’ Council on Water (AMCOW) West Africa sub-regional meeting in Abuja on Tuesday. READ MORE
Edun meets Dangote, pledges support for private sector growth
The Federal Government of Nigeria has reaffirmed its commitment to creating a business-friendly environment that encourages private-sector investment, boosts economic growth, and generates job opportunities in the country. According to a statement signed on Tuesday by Mohammed Manga, Director of Information and Public Relations, the Minister of Finance and Coordinating Minister of the Economy, READ MORE
Oyetola challenges Africa’s maritime stakeholders on renewable energy potential to become global leader in green shipping
Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola has called on Maritime stakeholders across Africa to leverage the continent’s renewable energy potential to become a global leader in green shipping. The Minister made the remark at the maiden Africa Strategic Summit on Shipping Decarbonization, held on Monday at the Congress Hall, Transcorp Hilton, READ MORE