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Only 6% of Nigerians access formal credit despite

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  • 18th June 2026

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Tinubu extends Customs CG Adeniyi’s tenure by six months

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Only 18% of Nigerian retailers can access formal loans

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FG to centralise livestock data for better sector planning

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36 states shared N39.6bn as ecological funds – NBS

Nigeria’s 36 states received N39.62 billion in ecological fund allocations from June 2023 to June 2024, according to data from the Federation Account Allocation Committee published by the National Bureau of Statistics. The ecological fund is a critical component of Nigeria’s federal revenue allocation, with the goal of addressing different environmental concerns around the country, […]

150,000 Nigerians got FG's N50k grant - Minister
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700,000 manufacturers, MSMEs register for FG N150bn loan – Minister 

Minister of Industry, Trade and Investment, Doris Aniete has said that about 700,000 manufacturers and micro, small, and medium-sized firms have indicated their desire to be beneficiary of the N150 billion loan scheme of the federal government, which is aims to support Nigerian businesses. This was disclosed in a statement by the Minister, stressing that […]

150,000 Nigerians got FG's N50k grant - Minister
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Economic damage worth N500bn amid nationwide protests – Minister 

The Minister of Industry, Trade and Investment, Dr. Doris Uzoka Anite has stated that the economic damage resulting from the ongoing EndBadGovernance protest is estimated to be around N500 billion. This was disclosed by the Minister via her official X handle, lamenting the protest-related deaths as well as other damages. In her statement, she noted […]

N40,000 rice initiative targets public servants, others to follow
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FG withdraws N40,000 subsidized 50kg rice initiative 

The federal government has put an end to its proposal to sell subsidized 50-kilogram (kg) bags of rice to public servants priced at N40,000. This was disclosed in a circular titled, “Withdrawal of internal circular on sale of subsidized rice to public servants”, and signed by the permanent secretary of the Ministry of Special Duties […]

FG deducts N256.5bn for gas projects in six months
Economy News

FG launches $500m dollar-denominated bonds

The Federal Government of Nigeria has launched its Series I Domestic USD Bond with the intention of raising at least $500 million from domestic and foreign investors. According to the circular, the government aims to double its initial offer, targeting $1bn in subscriptions through this bond auction. However, this auction comes at a time when […]

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Power generation hits 5,105MW in July – Minister 

The Minister of Power, Adebayo Adelabu, has stated that Nigeria’s power sector generated 5,105 megawatts of electricity on July 27, 2024, describing it as a three-year high. Adelabu disclosed this at the inaugural meeting of the Inter-Ministerial Power Sector Working Group in Abuja on Wednesday, according to The Punch. The minister stated, “Just a few […]

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FG considers tax breaks for companies – Minister

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has stated that the federal government is considering giving companies that hire additional employees outright tax breaks Edun disclosed this during an Exclusive interview on AIT’s Money Line where he stated that the measures are part of the inflation reduction Act to […]

News

FG, US agency partner to boost local drug production capacity 

Nigeria is expected to dramatically increase its domestic drug production as part of a new collaboration between the US Pharmacopeial Convention (USP) and the Presidential Initiative for Unlocking the Healthcare Value Chain. This was disclosed by the Minister of Health and Social Welfare, Muhammad Pate in a post on X on Monday. This agreement intends […]

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Import duty suspension on food items to stop November – Minister

The Minister of Agriculture and Food Security, Abubakar Kyari, announced that the federal government’s suspension of import duties on certain food items will remain in effect only until the next harvest, expected around October or November out this year. Kyari made this statement during an interview with Channels TV in Abuja on Sunday. Kyari explained […]

News

Nigeria’s debt may hit N130tn by Dec – Report

Nigeria’s public debt stock is estimated to rise to N130 trillion this year, raising concerns about the country’s debt-to-gross domestic product ratio. This was disclosed in a report by Afrinvest, an investment management company, titled, ‘Bank Recapitalisation, Catalyst for a $1tn Economy, ‘ unveiled in Abuja recently. According to the National Bureau of Statistics, Nigeria’s […]

FG deducts N256.5bn for gas projects in six months
News

FG to build manufacturing hubs nationwide

The Federal Government has revealed plans to build manufacturing hubs in each of the country’s six geopolitical zones in order to produce necessary building materials, lower import costs, generate employment, and accelerate economic growth. This was disclosed by the Minister of Housing and Urban Development, Musa Dangiwa during a courtesy visit from the Executive Chairman, […]

AfDB President Adesina criticizes border opening for food imports
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FG to get fresh $500m loan from AfDB

The Federal Government will receive a $500 million loan from the African Development Bank Group to fund the initial phase of the Economic Governance and Energy Transition Support Program. EGET-SP is an initiative aimed at accelerating the transformation of the country’s electricity infrastructure and improving access to cleaner sources of energy. These efforts would decentralize […]

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