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The Federal Government, through the Debt Management Office, has announced plans to reopen two tranches of its savings bonds worth a combined N350 billion for public subscription.
Business

FG to offer N80bn bonds in July 2025 auction

The Debt Management Office has announced that the Federal Government of Nigeria will offer N80 billion in bonds for subscription via auction on July 28, 2025, with settlement scheduled for July 30, 2025. According to a circular posted on the DMO’s website, the offer includes two re-openings of existing FGN bonds: N20 billion of the […]

Business

FG eyes 460,000 metric tonnes of soybeans production in two years

The Federal Government has announced plans to cultivate one million hectares of farmland and produce 460,000 metric tonnes of soybeans over the next two years, as part of efforts to strengthen food security, cut import dependence, and elevate Nigeria’s role in the global soybean market. Minister of Agriculture and Food Security, Abubakar Kyari, revealed this […]

FG considers removal of 7% import surcharge
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FG considers removal of 7% import surcharge

The Federal Government is considering scrapping the 7 per cent import surcharge, a move aimed at reducing import costs and boosting trade activity across Nigeria. This proposal, currently undergoing legislative review, is expected to ease the financial burden on importers and enhance the competitiveness of Nigerian ports. The development was disclosed at a stakeholder town […]

Business

FG reaffirms commitment to launch National Single Widow initiative

The Federal Government has reiterated its resolve to swiftly implement the National Single Window initiative—one of the key policies of President Bola Tinubu’s administration. This was disclosed on Monday by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, during a session with the National Assembly Joint Committee on Customs and […]

Business

FG eyes 30% GDP via raw material value-added bill

The Federal Government is targeting a 17 per cent year-on-year growth in real output, aiming to raise real Gross Domestic Product to ₦23.2 trillion through a new bill that mandates 30 per cent value addition to raw materials before export. Speaking on phone, the Director-General and CEO of the Raw Materials Research and Development Council, […]

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FG targets 8,500MW power supply in 18 months

The Federal Government has set an ambitious goal to boost the nation’s electricity supply from around 5,500 megawatts to 8,500 megawatts within the next 12 to 18 months, as part of broader efforts to stabilise and expand Nigeria’s power infrastructure. Director-General of the Bureau of Public Enterprises, Ayodeji Gbeleyi, announced the target on Wednesday in […]

Business

FG unveils locally-made machines to cut housing costs

The Federal Ministry of Housing and Urban Development has unveiled a set of locally-developed machines aimed at reducing housing construction costs and enhancing local innovation in Nigeria’s building sector. The initiative, led by the Director and Head of Department of Federal Public Assets Maintenance, Ibechile Egwudale, was presented in Abuja with the Minister of Housing, […]

Business

NDPHC to restart Alaoji power plant in August 2025

SoThe Niger Delta Power Holding Company has announced plans to resume operations at the Alaoji Power Plant by August 2025, nearly two years after it went offline. The move is part of a broader strategy to revive dormant power generation assets and boost electricity supply to the national grid. Managing Director of NDPHC, Jennifer Adighije, […]

Business

FG grants 448 oil sector expat slots amid local content drive

The Nigerian Content Development and Monitoring Board approved 448 expatriate quota requests for foreign professionals in the oil and gas sector during the first half of 2025, signaling a continued reliance on foreign expertise even as the federal government intensifies efforts to boost local participation. In the official data, the NCDMB granted 246 EQ slots […]

Business

BRICS alliance to unlocks opportunities for Nigerian innovators — NBTI DG

Nigeria’s recent entry into the BRICS alliance is creating new global pathways for local innovators, according to the Director-General of the National Board for Technology Incubation, Kazeem Raji. Speaking on Wednesday at the National Showcase: NextGen Innovation Challenge 2025 in Abuja, Raji said the country’s engagement with BRICS — a bloc representing Brazil, Russia, India, […]

Business

FG urges US to reconsider ‘unfair’ visa restrictions on Nigerians

The federal government has condemned the United States’ recent decision to tighten visa restrictions on Nigerian citizens, labeling it “unfair and disproportionate.” In a statement on Wednesday, Ministry of Foreign Affairs spokesperson Kimiebi Ebienfa said the government was observing the development with “concern and keen interest,” particularly given the historically friendly relations between the two […]

FG begins compensation for demolished properties along Lagos-Calabar coastal highway
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Nigeria secures $747m loan for Lagos-Calabar coastal project

Nigeria has obtained a $747 million syndicated loan to support the construction of Phase 1, Section 1 of the Lagos-Calabar Coastal Highway. In a statement on Wednesday, the Director of Information and Public Relations at the Ministry of Finance, Mohammed Manga, said the loan will finance the 47.47-kilometre segment between Victoria Island and Eleko Village […]

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