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Tag: FG

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FG, Japan partner to foster entrepreneurial growth, innovation

The Federal Government of Nigeria has signed a Memorandum of Understanding with the Government of Japan to support business start-ups and promote innovation across the country. As part of the agreement, groundbreaking projects valued at $30.9 million will be implemented, including a key initiative—the Development of the Start-up Hub—spearheaded by the National Information Technology Development […]

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FG inaugurates new Galaxy Backbone board to accelerate digital transformation

The Federal Government has inaugurated a new Board of Directors for Galaxy Backbone Limited, Nigeria’s ICT infrastructure provider, to advance the country’s digital economy agenda. The inauguration ceremony was held at the Office of the Secretary to the Government of the Federation (SGF) in Abuja and was presided over by Senator Dr. George Akume, who […]

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FG commits to enhancing investment climate

The Minister of Information and National Orientation, Mohammed Idris, assured that the Federal Government will create a favorable environment for foreign investment. He urged investors to remain engaged with Nigeria’s economy, especially amid the country’s ongoing reforms. The minister emphasized that Nigeria provides dynamic market potential and an investor-friendly environment, essential for successful business operations. […]

PETROAN dismisses fuel scarcity fears amid naira-for-crude controversy
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Fuel price-cut in view as FG renews naira-for-crude deal

Oil marketers have said that Nigerians may soon experience significant relief as the pump price of Premium Motor Spirit is expected to drop sharply. This follows the Federal Government’s continued implementation of the crude oil and refined product sales in naira initiative. They also revealed that the Dangote Refinery, a key player in the downstream […]

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FG to begin automation of landing, exit cards for foreigners on May 1

The Federal Government of Nigeria has announced significant changes to its immigration procedures, set to take effect on May 1, 2025. These reforms aim to enhance border security and streamline the entry and exit processes for foreign travelers. Through automation, foreigners will now need to complete forms online before boarding flights to or from Nigeria. […]

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Naira-for-crude policy still in effect, FG tells Dangote, others

The Federal Government has emphasized that its naira-for-crude initiative with local refineries is not a temporary solution but a strategic policy aimed at promoting sustainable domestic refining. The Nigerian government has confirmed that the naira-for-crude initiative remains in effect, overriding the decision made by the NNPC under former CEO Mele Kyari to terminate it. During […]

AfDB President Adesina criticizes border opening for food imports
News

FG, AfDB partner to launch agro-industrial zones programme

The Federal Government of Nigeria, in collaboration with the African Development Bank, will officially launch Phase One of the Special Agro-Industrial Processing Zones programme, supported by a $538 million investment. According to a statement from the AfDB on Sunday, groundbreaking ceremonies for the first phase will take place on April 8 in Kaduna State and […]

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FG raises alarm over impact of Trump’s tariffs on Nigerian exports

The Federal Government has expressed concern over the negative impact of newly imposed United States tariffs on Nigeria’s oil and non-oil exports. It warned that the measures could strain trade relations and reduce the competitiveness of Nigerian products in the American market. In a statement issued on Sunday, Minister of Industry, Trade, and Investment, Dr. […]

Business

Revenue agencies owe FG N9.3tn unremitted funds – FG

The Nigeria Extractive Industries Transparency Initiative has disclosed that revenue-generating agencies owe the government N9.3 trillion in unremitted liabilities. According to NEITI’s 2023 industry report, this amount could cover approximately 72% of the Federal Government’s projected N13 trillion budget deficit for 2025. NEITI Executive Secretary, Orji Ogbonnaya Orji, disclosed this during a briefing on the […]

President Tinubu to reduce inflation to 15% by 2025
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Tinubu approves Investment and Securities Act 2024

President Bola Ahmed Tinubu has enacted the Investment and Securities Act 2024, a significant advancement in Nigeria’s capital market reforms. This new legislation repeals the Investments and Securities Act No. 29 of 2007, aiming to fortify the legal and regulatory framework governing investments and capital market operations in the country. In a statement on Friday, […]

News

FG unveils initiative for major highway concessions

The Federal Government has announced that the Highways Management and Development Initiative will drive the concession of major highways to enhance road infrastructure. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known during a Zoom dialogue meeting in Abuja on Thursday. “The Highways Management and Development Initiative would facilitate […]