Tag: #EconomicDevelopment
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FAAC SHARES N2.09 TRILLION OCTOBER REVENUE, NIGERIANS DEMAND TRANSPARENCY AND IMPACT
The Federation Account Allocation Committee (FAAC) distributed N2.094 trillion among Nigeria’s federal, state, and local governments from October 2025 revenue. The announcement by Accountant-General Shamsudeen Ogunjimi came after the November FAAC meeting, with funds from statutory revenue, VAT, and the Electronic Money Transfer Levy (EMTL). Breakdown: Federal Government received N758.405 billion, States N689.120 billion, Local…
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CRYPTO TRANSACTIONS TOP $50 BILLION WHILE NIGERIA’S CAPITAL MARKET FIGHTS LOW PARTICIPATION
The Securities and Exchange Commission (SEC) revealed that over $50 billion worth of cryptocurrency transactions flowed through Nigeria between July 2023 and June 2024, highlighting a strong appetite for digital assets. However, SEC Director-General Dr. Emomotimi Agama pointed to a paradox: while under 4% of Nigeria’s adult population actively invest in the traditional capital market,…
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NORTH KOREA VOWS NEVER TO RELINQUISH NUCLEAR WEAPONS AT UNGA
Kim Son Gyong asserts nukes as sovereignty and right to existence amid rising regional military tensions. North Korea’s Vice Foreign Minister Kim Son Gyong made a powerful declaration at the UN General Assembly that the country will never give up its nuclear weapons, calling them “state law, national policy, sovereign power, and right to existence.”…
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NIGER, RUSSIA DEEPEN AGRICULTURE AND MINING TIES WITH BUSINESS DELEGATION VISIT
Promising partnerships take root as Russian delegation explores investment opportunities in Niger State. Governor Mohammed Bago welcomed a Russian business delegation from Sber Bank and strategic partners to Minna, aiming to boost cooperation in agriculture and mining after a recent MoU. The visit underscores fruitful outcomes from Bago’s Russia trip, with plans to expand into…
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MINISTER TIJANI URGES AFRICA TO LEVERAGE AI FOR ECONOMIC GROWTH AT GITEX
AI is Africa’s bridge to global competitiveness—minister calls for urgent investment in digital infrastructure and skills. At the 2025 GITEX Africa launch, Minister Bosun Tijani emphasised that Africa must adopt AI to avoid falling behind, highlighting its potential to boost productivity, create jobs, and transform sectors like agriculture and education. He urged investments in connectivity,…
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PROF. BARTH NNAJI APPOINTED CHAIR OF EBONYI ECONOMIC COMMITTEE
Ebonyi taps power expert Nnaji to lead industrial revival amid energy challenges. Former Power Minister Prof. Barth Nnaji now chairs Ebonyi’s 15-member Economic Committee, tasked by Governor Francis Nwifuru to drive industrialization and tackle erratic power supply. The committee will focus on reviving cement factories, harnessing salt resources, and attracting investments to boost the state’s…
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ABIA GOV OTTI TO PARTNER WITH NIPSS TO SHOWCASE MADE-IN-ABA PRODUCTS
Governor Alex Otti pledged Abia’s support for a NIPSS project aimed at boosting made-in-Aba products through an international trade exhibition called “Ariaria Fest,” modeled after China’s Canton Fair. Speaking at Nvosi, Otti emphasized that building a trillion-dollar economy requires manufacturing and productivity, not just trade. NIPSS leaders praised Otti’s development efforts and revealed the plan…
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FEC APPROVES MAJOR FUNDING TO UPGRADE NATIONAL POWER INFRASTRUCTURE
The Federal Executive Council (FEC) has green lit significant funding to modernise Nigeria’s power infrastructure, aiming to boost electricity supply and fuel industrial growth. Minister of Power Adebayo Adelabu announced approval of four key projects, including a N13 billion compensation payout for the Lagos Transmission Industrial Project backed by a $238 million JICA loan. This…
