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Finance ministry launches N250bn housing fund

The Federal Government of Nigeria has launched a N250 billion Real Estate Investment Fund through the Ministry of Finance Incorporated. This was disclosed in a statement signed by the Director of Information and Public Relations at the Ministry of Finance, Mohammed Manga on Tuesday. According to the statement, The initiative, announced on December 31, 2024, […]

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FG sees economic gains from Saudi Arabia diplomatic efforts – Edun

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun announced on Sunday that the country’s recent economic diplomacy with Saudi Arabia had started to deliver positive outcomes, including investments, foreign exchange inflows, and job creation. Edun had led a high-level delegation to Saudi Arabia to follow up on President Buhari’s prior […]

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Vandalism derails FG’s 6,000MW power generation goal, says minister 

The Minister of Power, Adebayo Adelabu, has identified vandalism of critical power transmission infrastructure as a significant barrier to achieving the target of 6,000 megawatts of electricity generation by December 2024. He noted that while the government had taken steps to meet this goal, repeated attacks on electricity towers have derailed progress. The was disclosed […]

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FG assures manufacturers free trade zones will boost exports

The Federal Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, has reassured manufacturers that Nigeria’s free trade zones are aimed at boosting exports and will not undermine local industries. Speaking at a press briefing in Lagos, she emphasized that the zones are designed to operate within guidelines that promote economic growth and address stakeholders’ […]

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FG, Bloomberg partner to attract foreign investment

The Federal Government has entered a two-year partnership with Bloomberg to promote foreign investment and highlight Nigeria’s economic opportunities. This collaboration was announced following a meeting between the Finance Minister and Coordinating Minister of the Economy, Wale Edun, and Bloomberg’s Global Director, Nicole Keefe, held in Abuja. The initiative aims to leverage Bloomberg’s global reach […]

FG deducts N256.5bn for gas projects in six months
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FG allocates N180bn to agric versities, research institutes in 2025

The Federal Ministry of Agriculture and Food Security has allocated N180 billion for Federal Universities of Agriculture and research institutes in its proposed 2025 budget. Out of the ministry’s total budget of N636 billion, N54.38 billion is dedicated to Federal Universities of Agriculture, emphasizing the importance of education and research in agriculture. The allocations were […]

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FG disburses ₦16.1bn to 22 manufacturing firms

The Federal Government has allocated ₦16.1 billion to 22 manufacturing companies as part of the ₦75 billion earmarked to boost the real sector. Additionally, ₦3.5 billion was distributed to 11,000 individuals within five days through the Consumer Credit Scheme, aimed at benefiting over 80 million Nigerians. Furthermore, 25 million people have reportedly received assistance under […]

News

FG lifts five-year mining ban in Zamfara

The Federal Government has lifted the five-year ban on mining activities in Zamfara State, aiming to boost the local economy and tackle security challenges. The was disclosed in a statement by the Minister of Solid Minerals Development, Dele Alake, via X (formerly Twitter) on Sunday. Imposed in 2021, the mining ban sought to curb the […]

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FG’ll fund 50% of $2bn fibre project with loans – Bosun Tijani

Alex Omenye The Federal Government will provide 50% of the $2 billion needed to implement Nigeria’s 90,000-kilometer fibre optic project, according to Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy. Speaking on Arise TV on Friday, Tijani revealed that the government’s contribution will be secured through loans as part of its borrowing […]

Minister threatens to revoke Kogi-Benin Road contracts
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FG to review Lagos-Calabar coastal road to six lanes

Alex Omenye The Federal Government has announced a cost-saving review of the Lagos-Calabar Coastal Road project, reducing the number of lanes from 10 to six. Minister of Works, David Umahi, disclosed this on Friday during a tour of the project, citing the need to address design variations and unforeseen challenges, including the evacuation of up […]

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FG achieves 256% increase in meter installations in Q3

The Federal Government’s efforts in Nigeria’s electricity sector have led to substantial progress, with the installation of 184,507 new meters in Q3 2024, marking a 256.01% increase from the previous quarter. The Nigerian Electricity Regulatory Commission also reported the issuance of 50 new licenses, permits, and certifications. The was disclosed by NERC in its Q3 […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
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Nigeria secures $1.7b from W’Bank, AfDB for renewable energy

Nigeria is set to deploy renewable energy with a $1.7 billion investment from the World Bank, African Development Bank, and a new $250 million facility from the International Finance Corporation. The Rural Electrification Agency announced in Abuja on Wednesday that over 3,700 primary healthcare and agricultural facilities will be electrified under the new e-H.E.A.R.T. project. […]

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