Author: Olu Anisere

Crude oil extended its fall as broader market concerns have weighed on the complex, while a stronger dollar has also added further pressure.

Togo has unlocked access to a $58.7 million loan from the International Monetary Fund, IMF….

Nasarawa Assembly Passes N402.5bn 2025 Budget The Nasarawa State House of Assembly on Friday passed the 2025 Appropriation Bill of N402.5 billion. Gov. Abdulahi Sule had on Nov. 29, presented a budget of N382.5 billion to the assembly for consideration. The assembly, however, increased the budget, christened “Budget of Economic Growth and Stability” by N20 billion. Mr Danladi Jatau, Speaker of the assembly attributed the increase in the budget to the current economic situation and inflation in the country. “This House approved the upward review of the budget size by N20 billion to enable government meet with the current economic…

FG Partners NACCIMA for Business Growth, Economic Reforms The Federal Government is partnering with the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) to address key economic challenges and foster business growth. The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said this during an interactive session with members of the organised private sector on Friday in Lagos. Oduwole outlined her vision for supporting businesses through consistent policies, enhanced access to credit, and actionable measures aimed at reducing economic constraints. “We have discussed critical issues such as inflation, high interest rates, and the urgent need for…

$20bn Extra Required Yearly to Achieve 2027 Economy Target – Edun The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the country needs to invest 20 billion dollars to achieve the economic targets by 2027. Edun said this during the citizens and stakeholders engagement on the implementation of presidential priorities and ministerial deliverables for the fourth quarter of 2024, in Abuja on Friday. He said that the additional 20 billion dollars per year was required to grow the economy by an average of 6.3 per cent in the medium term. “We need significantly more growth,…

FG Commences Wheat Cultivation in Adamawa The Federal Government has commenced wheat cultivation in Adamawa, targeting 12,000 farmers under its National Agricultural Growth Scheme and Agro-Pocket (NAGS-AP) programme this dry season. Mr Salihu Jenenso, the NAGS-AP’s state Coordinator, made this known during a media tour at Kapo, one of the farming communities in Fufore Local Government Area of Yola. Jenenso said the NAGS-AP programme was a federal government initiative, designed to boost agricultural production, enhance food security, and empower farmers nationwide. “The implementation of the NAGS-AP programme has begun with land preparation and the distribution of subsidised farm inputs to…

AfDB Approves €139m Loan to Boost Youth Employment in Côte d’Ivoire The African Development Bank Group has approved loans totaling €139.68 million to support youth employment and entrepreneurship in Côte d’Ivoire, targeting key sectors with high job creation potential. The loan comprised of €126.32 million from the Bank Group’s commercial African Development Bank window and €13.36 million from its concessional lending arm, the African Development Fund, will help bolster the socio-professional integration of young Ivorians by developing their skills and supporting micro, small and medium-sized enterprises. A key component of the project is establishing the Youth Entrepreneurship Investment Bank (YEIB)…

Nigeria Loses $19m Yearly to Motorcycle Spare Parts Imports– NADDC The Director-General of the National Automotive Design and Development Council (NADDC), Mr Joseph Osanipin, says Nigeria spends approximately 19 million dollars annually on the importation of motorcycle spare parts. Osanipin said this at NADDC’s 2024 end-of-year media briefing on Friday in Abuja. He emphasised the urgent need to reduce the country’s dependence on imported parts by bolstering local manufacturing. “Our investigation shows that the value of motorcycle spare parts imported into the country annually is close to 19 million dollars. “This figure excludes tricycles and vehicles. If we can produce…

FCT-IRS Pledges Aggressive Enforcement Against Tax Defaulters in 2025 The Federal Capital Territory Internal Revenue Service (FCT-IRS) says it will carry out aggressive enforcement against tax defaulters in 2025. The acting Executive Chairman of the service, Mr Michael Ango disclosed this at the 2024 end of year media briefing, in Abuja on Thursday. Ango explained that the enforcement would be carried out after massive public enlightenment on residents’ tax obligations and opportunity to voluntarily comply. He said that the service would extend the enforcement to all taxpayers, adding that the FCT-IRS would not hesitate to impose the necessary sanctions and…

Alleged N110bn Fraud : Court Admits Yahaya Bello to N500m bail A Federal Capital Territory High Court on Thursday, admitted the immediate past Governor of Kogi, Yahaya Bello, to bail in the sum of N500 million with three sureties in like sum. Justice Maryann Anenih had, on Dec. 10, refused the ex-governor’s bail application, saying it was filed prematurely. While delivering the initial ruling, she said, having been filed when the 1st defendant was neither in custody nor before the court, the instant application was incompetent. There was, however room for the governor’s lawyers to file a fresh application for…