Economy
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FG to lunch N1trn low-interest mortgage fund
The Federal Government on Saturday disclosed a plan to lunch a N1 trillion low-interest mortgage fund that is backed by both public and private financing to stimulate the housing sector. This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun The minister emphasised that the next phase of economic growth will be driven…
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Saint Kitts and Nevis PM seeks stronger economic ties with Nigeria
By Kunle Sanni Prime Minister of Saint Kitts and Nevis, Dr. Terrance Michael Drew, has expressed a strong interest in fostering investments in agriculture and energy as part of efforts to strengthen economic ties between his country and Nigeria. During a courtesy visit to President Bola Ahmed Tinubu at the Presidential Villa on Saturday, Dr. Drew emphasized the need for…
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Japan invests 15billion Yen to boost food security in Nigeria
The Minister of Agriculture and Food Security, Senator Abubakar Kyari, hosted Mr. Takao Shimokawa, Director General of the Economic Development Department at the Japan International Cooperation Agency (JICA), to reaffirm Nigeria’s partnership with Japan in advancing agricultural transformation and food security initiatives. During the meeting, held at the ministry’s conference room, Senator Kyari commended JICA for over four decades of…
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Nigeria’s economy has achieved stability, says Wale Edun
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has disclosed that Nigeria’s economy has achieved relative stability over the past 18 to 20 months. He spoke in Abuja during a Zoom dialogue meeting, according to a report by News Agency of Nigeria (NAN). The Minister also hinted that personal income tax (PIT) payments by wealthy…
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AfDB, Nigeria strengthen ties to drive growth in critical sectors
Nigeria and African Development Bank Group (AfDB) have strengthened ties to further boost economic growth in critical areas such as agriculture, infrastructure, and youth development. A delegation from the AfDB, led by Dr Abdul Kamara, Director General, Nigeria Country Department, met with Coordinating Minister for Finance, Mr. Wale Edun. Dr Kamara announced the launch of a new Country Strategy Paper…
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FG partners with stakeholders to reduce poverty, says Bagudu
The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has said that all government agencies, particularly the Ministry of Humanitarian Affairs and Poverty Reduction are working to reduce poverty in Nigeria. He noted that these stakeholders will be mobilised to develop poverty reduction programmes that attract private money and investment. He spoke on Tuesday during the Humanitarian Roundtable in…
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Naira-for-crude oil policy may jeopardise Nigeria’s FX stability, discourage FDI inflows, says DAPPMAN
Oil marketers under the aegis of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) have raised alarm about potential risks linked to the naira-for-crude oil policy of the Federal Government. In a statement, executive secretary of DAPPMAN, Mr. Olufemi Adewole disclosed that the initiative between Nigerian National Petroleum Company Limited (NNPC) and local refineries may jeopardise Nigeria’s foreign…
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MOFI, three other FG’s institutions to fund consumer credit
The Ministry of Finance Incorporated (MOFI), Bank of Industry (BOI), and two other Federal Government-owned institutions are to fund the proposed National Credit Guarantee Company (NCGC). The other two organisations are: Nigeria Sovereign Investment Authority (NSIA) and Nigerian Consumer Credit Corporation(CREDICORP). NCGC, which will be a joint venture by the four institutions, private sector players and multilateral institutions, is expected…
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Finance Minister, CBN Governor brainstorm on implementing Tinubu’s economic reforms
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso held a high-level meeting to brainstorm on the economic reforms being implemented by the administration of President Bola Tinubu. The objective of the meeting is to advance ongoing efforts at strengthening coordination between fiscal and…
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NDPC lunches application, implementation directive on data protection act
In a move to safeguarde the fundamental rights and freedoms of Nigerians in the context of data privacy and protection., the Nigerian Data Protection Commission (NDPC), yesterday in Abuja launched the Nigerian Data Protection Act General Application and Implementation Directive (NDP ACT-GAID), NDPC unveiled NDP ACT-GAID in order to push the country to the frontiers of the 4th Industrial Revolution…
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