Tag: #EconomicGrowth
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SUGAR INDUSTRY GETS N10BN BOOST: NEW FUND TO POWER GREENFIELD INVESTMENTS
Nigeria’s sugar sector is getting a major push as the National Sugar Development Council (NSDC) and Bank of Industry (BOI) launch a N10 billion Sugar Project Acceleration Fund (SPAF) to support greenfield sugar projects. The fund aims to turn early-stage sugar project ideas into bankable investments by providing technical, financial, and advisory support to viable…
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AFREXIMBANK TOPS AFRICA’S LOAN MARKET WITH 23% SHARE IN 2025
Bank consolidates leadership, driving capital flows to fuel the continent’s growth. African Export-Import Bank has emerged as the No. 1 Mandated Lead Arranger and Bookrunner in Africa’s 2025 Bloomberg Africa Borrower Loans League Tables, commanding a 23.65% market share across 20 transactions. According to the bank, it also holds a 21.66% share as Bookrunner, completing…
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BAUCHI EYES $200M AGRO-INDUSTRIAL BOOST
Governor Bala Mohammed says the state is ready to tick every global box to unlock a massive agriculture investment. Bala Mohammed has reaffirmed Bauchi’s commitment to meeting all international standards required to secure a proposed $200 million agro-industrial investment backed by the Islamic Development Bank and other partners. Speaking while receiving the Special Agro-Industrial Processing…
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FG PUSHES TO COMPLETE ABUJA–KADUNA ROAD WITH NEW CONCRETE DESIGN
The Federal Government is doubling down on finishing the Abuja–Kaduna Road, a key link connecting the North Central region, the FCT, and major trade routes to Lagos. Mohammed Ahmed, Director of Information at the Ministry of Works, said the road has been redesigned from asphalt to Continuous Reinforced Concrete Pavement (CRCP) for durability and long-term…
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JIGAWA GOVT ALLOCATES N1.6B FOR DRY SEASON AGRICULTURE SUPPORT
Jigawa State is boosting its farmers ahead of the dry season with N1.6 billion earmarked for agricultural support. The initiative will provide workers with essential inputs, irrigation, mechanization, and extension services to maximize crop productivity. Commissioner for Information, Youth, Sport and Culture, Sagir Musa, said the program aims to increase yields, stabilize food supply, and…
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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…
