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African startups raise $102m in lowest month since

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Naira appreciates to ₦1,408/$ in parallel FX market

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NEC approves $4.5bn project Gazelle 2 refinancing deal

Finance

Why ‘Who Wants To Be A Millionaire’ ended —

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Workers union demands meeting with Oyedele over unpaid wage

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Tag: NEC

Finance

NEC approves $4.5bn project Gazelle 2 refinancing deal

The National Economic Council has approved the refinancing of the $3.3 billion Project Gazelle Pre-Export Finance Facility through a new US$4.5 billion facility, named Project Gazelle 2. The approval allows NNPC Limited to refinance the outstanding balance of approximately $1.5 billion under the original 2023 facility. It also unlocks an additional $3 billion in liquidity […]

Nigeria to phase out diesel, embrace hybrid energy — Shettima
Economy

NEC unveils framework to achieve $1trn economy by 2030

The National Economic Council on Thursday unveiled the framework for the Renewed Hope Development Plan (2026–2030) aimed at consolidating Nigeria’s reform agenda and actualising the $1tn economy target of the administration of President Bola Tinubu. This was part of the resolutions reached at the 151st meeting of the council, which commended the Ministry of Budget […]

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NEC urges states to utilize NASENI innovation for industrialization

The National Economic Council has urged state governments to adopt and support technological innovations developed by the National Agency for Science and Engineering Infrastructure. The Council emphasized that patronizing local technology is crucial to accelerating Nigeria’s industrialization. NASENI’s Director of Information, Olusegun Ayeoyenikan, in a statement on Monday said that Vice President Kashim Shettima made […]

Equity investors lose N1.5tn as bond yield rises
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CBN to stabilise economy with $3bn – NEC

The National Economic Council stated on Thursday that the $3 billion emergency loan-for-crude oil that the Federal Government obtained in August would be used to stabilise the naira. The Punch reported that the value of the naira has been fluctuating in the Investors & Exporters window and getting worse in the parallel market, reaching N1000/$ earlier […]

NEC discards Buhari’s social register, embraces new cash transfer method
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NEC discards Buhari’s social register, embraces new cash transfer method

The National Economic Council, chaired by Vice President Kashim Shettima, has decided to scrap the national social register due to credibility concerns during Muhammadu Buhari’s government. Instead, the council recommended a social register-based cash transfer program for states and a six-month cash incentive program for public employees. The Vice-President, 36 state governors, a representative of […]

How VIN affected vehicle importation - Customs
Transportation

NEC backs NADDC on mass production of electric vehicles

The National Economic Council has backed the move by the National Automotive Design and Development Council, to begin mass production of Electric Vehicles and Compressed Natural Gas-powered vehicles in the country.   Addressing the inaugural NEC meeting presided over by the Vice President, Kashim Shettima, on Thursday in Abuja, the NADDC Director-General, Jelani Aliyu, said […]

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