The Federal Government of Nigeria has announced a $500 million replenishment of the Nigeria Trust Fund (NTF), signaling a renewed commitment to advancing private sector growth and inclusive development across the African continent. The move extends the fund’s operational timeline to 2040 and is expected to catalyze targeted investments in low-income and fragile African nations.
The Lagos State Government has revealed that it invested more than ₦8.4 billion within the last year to support the growth of the creative economy, tourism, and related sectors across the state. This substantial investment is part of efforts to position Lagos as Africa’s foremost hub for culture, arts, and tourism. Speaking at the 2025
Ogun State Governor, Prince Dapo Abiodun, on Monday received the management team of Access Bank Plc at the Governor’s Office in Oke-Mosan, Abeokuta, as part of ongoing engagements to deepen economic partnerships and spotlight the far-reaching impact of the 2024 National Sports Festival hosted by the state. Speaking during the meeting, Governor Abiodun described the
The Federal Government of Nigeria has officially launched the Nigeria–East/Southern Africa Air Cargo Corridor, aimed at facilitating and expanding trade between Nigeria and key African markets. The initiative provides Nigerian exporters with discounted air freight rates of up to 50%, making it easier and more affordable to access East and Southern African countries. Unveiled at
Abuja – The Federal Government has revealed plans to install 70,000 new telecommunications towers across Nigeria, with more than 80 percent of the sites designated for the northern region. This move is part of a wider effort to bridge the digital divide and improve access to quality internet services nationwide. The announcement was made by
Abuja – The Central Bank of Nigeria (CBN) has announced that foreign trade payments through Letters of Credit (LCs) rose to $267.96 million, reflecting a 4.4 percent increase compared to the same period last year. The increase signals growing confidence in Nigeria’s external trade sector, supported by improvements in foreign reserves and ongoing economic reforms.
The Minister of Solid Minerals Development, Dr. Dele Alake, has disclosed that President Bola Ahmed Tinubu’s sweeping reforms in Nigeria’s mining sector have resulted in a sixfold increase in government revenue, along with over $800 million in foreign direct investment within a year. Speaking during a feature interview for an upcoming State House documentary to
The Federal Government has stepped up efforts to revive Nigeria’s dormant steel industry with a high-profile inspection visit to Premium Steel and Mines Limited (PSML), formerly known as Delta Steel Company, located in Ovwian-Aladja, Delta State. Leading the delegation was the Minister of Steel Development, Shuaibu Audu, who reaffirmed the administration of President Bola Tinubu’s
In a significant move to provide relief to Nigerians amid rising economic pressures, the Dangote Petroleum Refinery has once again lowered the pump price of Premium Motor Spirit (PMS), reducing it by N15 per litre. The new price takes immediate effect, with petrol now retailing at N875 per litre in Lagos, while varying slightly across
The Federal Government of Nigeria has commenced a comprehensive review of its trade and investment priorities as part of efforts to reposition the nation’s economy amid global economic shifts and emerging trade challenges. The move followed a high-level meeting of the Economic Management Team (EMT) held in Abuja and chaired by the Minister of Finance
