Economy

Kogi State Government says it is accelerating reforms under the $750 million World Bank-supported, State Action on Business Enabling Reforms (SABER) programme aimed at improving ease of doing business across the 36 states of the federation.   Governor Alhaji Ahmed Usman Ododo stated this while playing host to a one-day strategic technical…

Transactions on the floor of Nigerian Exchange NGX on Thursday returned to negative performance, declining by N308 billion as bears dominate market activities during the day. Market Capitalization of listed equities declined by 0.40 per cent to N76.453 trillion from N76.761 trillion reported the previous day. The NGX also depreciated…

Africa received over $95 billion in remittances in 2024, with Nigeria, Egypt, and Morocco emerging as the top beneficiaries, according to the State of Africa’s Infrastructure Report 2025 released by the Africa Finance Corporation (AFC). The figure nearly matched the total foreign direct investment (FDI) inflow into the continent for…

The Federal Government is making concrete efforts to clear the outstanding payments to genuine contractors for contracts executed by Federal Ministries, Department and Agencies (MDAs). The Office of the Accountant General of the Federation (OAGF) made this known in a statement issued Wednesday in Abuja. The OAGF explained that the…

The Securities and Exchange Commission (SEC)  has stressed the need for Nigeria to harness its demographic dividend to advance financial inclusion through investments by 2030 for national survival or face deepening inequality. The Director-General of the SEC, Dr Emomotimi Agama, said this at the United Capital Asset Management Investment forum…

The Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), has announced a public offering of N100 billion worth of sovereign green bonds, as part of its ongoing strategy to deepen climate finance, support environmentally sustainable projects, and strengthen Nigeria’s fixed-income market. According to a statement issued by…

Nigeria’s Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, said Federal Government revenue rose to N6.9 trillion in the first quarter a 40 per cent increase  from the N5.2 trillion recorded in the previous quarter. Edun who made this known on Monday during the Citizens and…

A Qatari-based dairy industry, Baladna, is set to establish a multi-million dollar food factory in Ogun State. Baladna is an agricultural company that raises livestock and produces dairy products. It is Qatar’s largest locally-owned food and dairy producer that supplies over 95 percent of the country’s fresh dairy products. The…

Unemployment rate among young people in West Africa currently stands at 24.95 per cent, while at the continental level it is 30.43 per cent, ECOWAS Parliamentarian, Sen. Amara Konneh, has said. The Chairman of the Parliament’s Public Accounts Committee and lawmaker from Liberia, disclosed this while making a presentation at…

Bank of New York Mellon Corp., in collaboration with Standard Bank Group Ltd., is launching global depositary notes backed by Nigerian sovereign debt denominated in naira, Bloomberg reported Wednesday. The initiative is designed to give international investors streamlined access to the elevated yields available in Nigeria, Africa’s most populous nation.…