Nigeria’s Federal Government has announced an unconditional grant of ₦250,000 for each outstanding small business showcasing at the Expanded National MSME Clinic in Katsina. Vice-President Kashim Shettima revealed the decision on Tuesday, stating that President Bola Tinubu approved the financial support to strengthen small businesses and accelerate local economic growth. “This grant is not a…
The National Bureau of Statistics (NBS) has reiterated its commitment to providing credible, high-quality, and accessible data to support evidence-based policymaking aimed at driving sustainable national development and transformational change. The Statistician-General of the Federation and Chief Executive Officer of the NBS, Adeyemi Adeniran, made this known on Monday in Abuja during an event to…
The International Monetary Fund (IMF) has commended Nigeria’s ongoing fiscal reforms and urged the country to adopt smarter spending strategies alongside stronger tax systems to sustain economic stability. Davide Furceri, Division Chief, Fiscal Affairs Department at the IMF, made this known during a news conference on the Fiscal Monitor held on Wednesday in Washington D.C.,…
The National Pension Commission (PenCom) says it is finalising arrangements to pay all outstanding pension liabilities under the Contributory Pension Scheme (CPS) before December. PenCom’s Director-General, Ms. Omolola Oloworaran, disclosed this on Wednesday in Lagos during the opening of a two-day sensitisation workshop for employees and pension desk officers. The event was organised in collaboration…
Sheikh Abdulrahman Al-Thani, Chairman of the Future Union Group and member of Qatar’s ruling family, has announced plans to invest substantially across several sectors of Nigeria’s economy in support of the country’s development agenda. Speaking at a press briefing in Abuja on Wednesday, Al-Thani described Nigeria as Africa’s “future investment destination”, expressing optimism about the…
The Benue State Council of the Nigeria Union of Journalists (NUJ) has thrown its weight behind the state government’s N100 billion infrastructure development loan, describing it as a transformative initiative with the potential to boost key sectors of the state’s economy. In a communiqué issued at the end of its congress in Makurdi, signed by…
Nigeria’s trade surplus has risen to six per cent of Gross Domestic Product (GDP), according to the Central Bank Governor, Mr Olayemi Cardoso, signalling improved trade performance amid ongoing economic reforms. Cardoso made the announcement in Washington on Wednesday in a statement released by Mr Mohammed Manga, Director of Information and Public Relations at the…
The International Monetary Fund (IMF) has warned that global public debt is on course to exceed 100 per cent of world GDP by 2029 — a level not seen since the aftermath of the Second World War. Presenting the latest Fiscal Monitor in Washington on Wednesday, IMF Fiscal Affairs Director Vitor Gaspar cautioned that debt…
The Asian Development Bank (ADB) has sanctioned a 500 million US dollar policy-based loan to advance Indonesia’s green growth agenda and reinforce its global competitiveness. The funding is part of the third phase of the Competitiveness, Industrial Modernisation, and Trade Acceleration (CITA) programme — a wide-ranging initiative aimed at boosting trade efficiency, encouraging sustainable investment,…
The International Monetary Fund (IMF) has forecast a slowdown in global economic growth from 3.3% in 2024 to 3.2% in 2025 and 3.1% in 2026, warning that rising protectionism and policy uncertainty could weigh on recovery. Presenting the IMF’s October World Economic Outlook in Washington on Tuesday, Tobias Adrian, the Fund’s Financial Counsellor, said advanced…
