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Nigeria is facing shortage of investment-ready startups, not

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FG commits ₦200bn to strengthen food production nationwide 

The Federal Government has invested over ₦200 billion in the agricultural sector to boost food production and strengthen national food security. This was disclosed in a statement on Sunday by the Minister of Agriculture and Food Security, Abubakar Kyari. Kyari said “The ministry has invested over N200bn in terms of intervention and has also given […]

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FG launches REV-OP to reform public financial management

The Federal Government of Nigeria has introduced the Revenue Optimization and Assurance Project, a transformative initiative aimed at strengthening public financial management. Through a technology-driven approach, the project seeks to curb revenue leakages, enhance transparency, and promote sustainable economic development. The project was unveiled at a high-level session held at the Ministry of Finance headquarters […]

Business

FG delays sale of power plants over low investor bids

The Federal Government has delayed plans to sell five National Integrated Power Projects after receiving undervalued bids from interested investors. Meanwhile, the Transmission Company of Nigeria is contending with a growing debt of ₦457 billion. TCN’s Executive Director of Transmission Service Provider, Oluwagbenga Ajiboye, revealed this at a capacity-building workshop for journalists in Nasarawa State. […]

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FG to track unpaid loans with NIN, restrict passport renewal

The Federal Government has announced plans to use the National Identification Number to track all unpaid loans across the country. The move is aimed at strengthening Nigeria’s credit infrastructure and curbing corruption. Managing Director of the Nigerian Consumer Credit Corporation, Uzoma Nwagba, disclosed this during a “Meet the Press” briefing organized by the Presidential Media […]

FG secures $163m AfDB loan for wheat production
Business

ASIF: FG launches platform to boost investments across Africa

The Federal Government of Nigeria has introduced the ASIF Investment Platform, a flagship initiative aimed at catalyzing high-impact investments in infrastructure, renewable energy, manufacturing, and healthcare across Africa. Launched at the 4th Annual Meeting of the Africa Sovereign Investors Forum in Abuja, the platform is designed to mobilize local capital and attract global funding for […]

Business

FG seeks technical, financial help to revive Ajaokuta steel

The Federal Government on Friday announced new efforts to revive the long-dormant Ajaokuta Steel Company—an asset seen as central to Nigeria’s industrial development and job creation plans. As part of the renewed push, the government has opened high-level negotiations with major Chinese steel conglomerates to secure technical expertise, financial support, and strategic partnerships aimed at […]

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FG moves to revoke dormant oil licences

The Nigerian Upstream Petroleum Regulatory Commission has announced plans to enforce the ‘drill or drop’ policy, which requires oil producers to either begin developing allocated oil blocks or relinquish them. NUPRC Chief Executive, Gbenga Komolafe, made this known during a recent meeting with representatives of the Independent Petroleum Producers Group at the commission’s headquarters in […]

Business

FG invests $50m in impact investment fund

The Federal Government has reaffirmed its dedication to sustainable economic growth with a $50 million investment in the Nigeria Wholesale Impact Investment Fund, bringing the fund’s first close to $100 million. This was disclosed by the Federal Ministry of Finance of account on Tuesday via it’s official X handle. According to the post, the Minister […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
Business

W’Bank loan at risk as FG fails audit revenue reform

The Federal Government risks losing $4 million from a World Bank loan after failing to meet auditing standards tied to a major revenue reform initiative involving the Federal Inland Revenue Service and the Nigeria Customs Service. The forfeited amount is part of the $103 million Fiscal Governance and Institutions Project, a public financial management programme […]

Over 160,000 benefited from Tinubu's transport subsidy - Alake
Business

Nigeria partners Australia to promote research, capacity building in mining 

The Ministry of Solid Minerals Development has launched a capacity-building programme for Nigerian mining professionals at Murdoch University in Australia. The two-week training, which began on June 8, 2024, is part of a bilateral agreement between Nigeria and Australia, with support from the Commonwealth of Nations. The initiative aims to bridge skill gaps in Nigeria’s […]

Cut corporate tax to 7.5%, NACCIMA urges Tinubu
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Presidency spends over ₦23b on FX for foreign trips 

The Presidency spent more than ₦23 billion in 2024 on the purchase of foreign currencies to cover the costs of international trips by top government officials, including President Bola Tinubu, Vice President Kashim Shettima, and First Lady Oluremi Tinubu. This amount represents a significant increase from the ₦18.63 billion spent in 2023 — a rise […]

News

FG to train 100,000 artisans in 2025

The Federal Government has unveiled plans to train 100,000 artisans across Nigeria in 2025 as part of efforts to stimulate economic growth through skill development. This was revealed by the Director-General of the Industrial Training Fund, Dr. Oluwatoyin Ogun, on Tuesday in Akure during the inauguration of the Association of Nigerian Artisans and Technicians Secretariat […]

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