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Oil sector reforms attract $24bn new capital –

  • 10th April 2026

Reforms attract over $10bn investment in upstream oil

  • 10th April 2026

FG begins assessment of $200bn integrated infrastructure proposal

  • 10th April 2026
CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown

CBN warns banks against excessive risk-taking after recapitalisation

  • 10th April 2026

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FG to invest in local companies for energy security

The Federal Government of Nigeria has announced its imminent selection of additional beneficiaries for its initiative aimed at investing in indigenous companies specializing in energy security and gas infrastructure development. It stated that this initiative is poised to mark a significant milestone in the country’s efforts to enhance energy security and improve gas infrastructure, signaling […]

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FG launches distribution of 2,000 CNG-powered tricycles to empower youth

The Federal Government of Nigeria, in collaboration with the Presidential Compressed Natural Gas Initiative and the Federal Ministry of Youth Development, has launched a program to distribute 2,000 CNG-powered tricycles. The flag-off event for the distribution of 2,000 CNG-powered tricycles took place on Tuesday at the Old Parade Ground in Abuja, coinciding with the celebration […]

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FG’s debt to CBN increases by over N11tn

The Central Bank of Nigeria announced that credit to the Federal Government rose by N11.33 trillion, or 57.11%, reaching N31.15 trillion in August, up from N19.83 trillion in July. The latest Money and Credit Statistics from the CBN revealed a trend of fluctuating borrowing by the three tiers of government from commercial lenders in recent […]

Minister threatens to revoke Kogi-Benin Road contracts
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FG allocates over N29bn in September for infrastructure development

The Federal Government disbursed over N29 billion in September aimed at enhancing road networks and improving water resources, as facilitated by the Federal Ministry of Works. This information was sourced from GovSpend, a platform tracking government expenditures developed by the accountability firm BudgIT. Notably, N5.88 billion was allocated to Reinforced Global Resources Ltd. for the […]

News

FAAC deducts N622.75m over 15 months for anchor borrowers

The Federation Allocation Accounts Committee has deducted a total of N622.75 million over the past 15 months to repay loans disbursed to farmers under the Anchor Borrowers Programme. The CBN established the Anchor Borrowers Programme in November 2015 to foster economic linkages between smallholder farmers and anchor companies, according to The Punch. This initiative aims […]

Emirates to resume Nigerian flights Sept 11
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Nigeria, UAE agree on reciprocal flight rights

Nigeria’s federal government and the United Arab Emirates have reached an agreement on reciprocal flight rights, paving the way for Emirates Airlines to resume its Dubai-Lagos flight service on Tuesday, October 1, 2024. This development also opens the door for Nigerian carrier Air Peace to reinstate its operations to the UAE, following its previous service […]

News

FG to boost CNG infrastructure, slash transport fare by 40%

The Federal Government of Nigeria has announced plans to enhance compressed natural gas infrastructure and reduce transportation fares by over 40%. This initiative was formalized during a Memorandum of Understanding signing ceremony in Abuja, which included key stakeholders such as representatives from the National Union of Road Transport Workers from Itakpe, Adavi, and Ajaokuta train […]

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FG secures $600,000 relief fund from Gates foundation

The Nigerian government has secured a $600,000 relief fund along with commitments from the Bill and Melinda Gates Foundation. This announcement came during a meeting between Vice President Kashim Shettima and the head of the Global Development Programme at the foundation, Dr. Christopher Elias on the sidelines of the 79th United Nations General Assembly in […]

90% of Nigeria's tax revenue comes from nine sources – Wale Edun
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FG disburses N24.78bn to 991,261 households via cash transfer program

The Federal Government has allocated N24.78 billion through the National Cash Transfer program to assist 991,261 impoverished households in Nigeria. This initiative, managed by the National Social Investment Programme Agency, has reached beneficiaries across all 36 states and the Federal Capital Territory, according to the statement on Thursday. NSIPA National Coordinator and CEO, Badamasi Lawal […]

90% of Nigeria's tax revenue comes from nine sources – Wale Edun
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How Nigeria can stop importing food – Wale Edun

Nigeria is poised to significantly reduce its reliance on food imports, as announced by Minister of Finance and Coordinating Minister of the Economy, Wale Edun. He outlined an ambitious strategy aimed at enhancing domestic agricultural production and improving food security. Edun made this disclosure at a press conference in Abuja on Thursday, marking Nigeria’s 64th […]

FG loses N335m to oil spillage - Report
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FG partners firm to develop satellite-based oil spill tracker

The Federal Government, through the National Oil Spill Detection and Response Agency has partnered with the Stakeholder Democracy Network to develop a satellite-based methane tracker aimed at addressing oil spills in Nigeria. This was disclosed by the Team Lead for SDN, Adam Heal during a visit to NOSDRA’s headquarters in Abuja on Wednesday, according to […]

EXXONMOBIL-REFINERY
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FG backs ExxonMobil’s $10bn Investment in offshore oil operations 

The Federal Government has expressed its support for ExxonMobil’s announcement of a $10 billion investment in Nigeria’s deep-water offshore oil operations This was disclosed in a statement by Nigeria’s Vice President, Kashim Shettima, during a meeting with ExxonMobil executives at the ongoing 79th Session of the United Nations General Assembly in New York, United States. […]

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