Tag: #EconomicGrowth
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CBN CUTS MONETARY POLICY RATE TO 26.5% TO BOOST ECONOMY
Nigeria’s central bank trims key interest rate by 50 basis points, signaling a push to support growth while keeping liquidity stable. The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) from 27% to 26.5%, CBN Governor Yemi Cardoso announced after the 304th Monetary Policy Committee (MPC) meeting in Abuja. The committee…
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DIGITAL PAYMENTS LIGHT UP NIGERIA’S NIGHTLIFE
Moniepoint study reveals cash is fading as bars, clubs embrace digital transactions. A recent study by Nigerian fintech Moniepoint shows digital payments are now driving Nigeria’s nightlife economy, with bank transfers and card payments topping transactions at bars, clubs, and informal community venues. Cash is on the decline, largely due to security concerns. The report,…
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NIGERIA URGES ECOWAS LAWMAKERS TO FAST-TRACK AfCFTA LAWS FOR REGIONAL TRADE BOOST
With Africa’s $3.4 trillion free trade market now active, Nigeria is pushing ECOWAS lawmakers to enact strong laws that will unlock massive trade, investment, and job opportunities across West Africa. Nigeria has called on parliamentarians in the Economic Community of West African States (ECOWAS) to accelerate legislation that will drive the full implementation of the…
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FG DEPLOYS 2,000+ TRACTORS TO SUPERCHARGE FARMING, BOOST FOOD SECURITY
Major mechanisation push aims to empower farmers, increase yields, and strengthen Nigeria’s food independence. The Bank of Agriculture and the Federal Ministry of Agriculture and Food Security have rolled out more than 2,000 tractors and heavy-duty machines to mechanised farmers under the Renewed Hope National Agricultural Mechanisation Programme (NAMP). Backed by Heifer International and Heifer…
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NCS TO BREAK EXPORT BARRIERS FOR ONION FARMERS
Nigeria’s onion exporters get a boost! The Nigeria Customs Service (NCS) has pledged to remove non-tariff barriers and streamline operations to make exports easier for onion farmers and other traders. Comptroller-General Bashir Adeniyi assured stakeholders that customs will work with relevant agencies to create a facilitating trade environment. The move follows a visit by the…
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INDIGENOUS SUPERMARKETS POWER NIGERIA’S ECONOMIC INDEPENDENCE – LCCI
As Nigerian-owned retail chains expand, business leaders say local investment is reclaiming the market, creating jobs and boosting inclusive growth. President of the Lagos Chamber of Commerce and Industry (LCCI), Leye Kupoluyi, says the rise of indigenous supermarkets is key to Nigeria’s economic independence. Speaking at the opening of The Mart Supermarket, Isheri branch, he…
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CUSTOMS, KEBBI SEAL DEAL AS FG OPENS NIGER–BENIN TRADE CORRIDOR
48-hour cargo clearance, tighter security, smoother cross-border trade Nigeria’s trade routes just got a major boost as the Nigeria Customs Service (NCS) and the Kebbi State Government team up to roll out President Bola Tinubu’s approved transit corridor for goods heading to Niger Republic via Benin. The Customs boss, Bashir Adewale-Adeniyi, announced the partnership during…
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MASSIVE ROAD PROJECTS TO REV UP FCT SATELLITE TOWN ECONOMY – WIKE
FCT minister says new roads will boost trade, ease traffic, and improve living standards The FCT Minister, Nyesom Wike, has assured that ongoing major infrastructural developments in satellite towns like Karu, Bwari, Kubwa, and Apo-Karshi will significantly stimulate local economies and enhance residents’ quality of life. Speaking after inspecting road projects, Wike highlighted that roads…
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HOUSE LAUNCHES PROBE INTO AIRPORT, SEAPORT CONCESSIONS
Are Nigeria’s ports and airports delivering value? The House wants answers! Speaker of the House of Representatives, Rep. Abbas Tajudeen, has inaugurated an ad hoc committee to investigate the performance of concessionaires managing federal airports and seaports from 2006 to 2025. Speaking through Rep. Loari Kwamoti, Tajudeen said the review is part of the House’s…
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KANO’S AUDU BAKO ZOO SET FOR MAJOR REVAMP
From declining visits to a must-see attraction—Kano plans to turn its historic zoo into a model wildlife park. The Audu Bako Zoological Garden in Kano is set for a comprehensive, multi-phase transformation as the state moves to reposition it as a modern wildlife park and tourism hub. The newly appointed Managing Director of the Kano…
