Economy
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CBN revokes licences of 46 microfinance banks
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 Microfinance Banks (MfBs), citing their failure to meet the regulatory requirements for continued operation. The apex bank disclosed this in a statement on Tuesday, saying the revocation took effect from July 1, 2026, in line with its powers under Sections 12 and 13 of the Banks and…
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NCC emerges third in 2026 public service rankings
The Nigerian Communications Commission (NCC) has emerged third among Federal Government Ministries, Departments, and Agencies (MDAs) in the Bureau of Public Service Reforms’ (BPSR) 2026 Public Service Reforms Performance Assessment. The ranking followed a thorough evaluation using key reform indicators such as the Self‑Assessment Tool (SAT), Freedom of Information (FOI) compliance, the Fiscal Transparency and Integrity Index, and official website…
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Africa must move from trade agreements to action, Tinubu says
…..Says digital trade is the future President Bola Tinubu says Africa must move beyond trade agreements and focus on implementing policies that drive economic growth. In a post shared via his X account on Wednesday, Tinubu welcomed African policymakers, innovators, investors, entrepreneurs and private sector leaders to Lagos for the AfCFTA Digital Trade Forum 2026, themed “Digital Trade for a…
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Finance Minister advocates commercial dispute tribunal to unlock capital
…Agama calls for research-driven policies to strengthen capital market The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has proposed the establishment of a specialised Commercial Dispute Resolution Tribunal to fast-track the resolution of business disputes, arguing that faster justice delivery is critical to attracting long-term investment and deepening Nigeria’s capital market. The minister made the proposal…
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World Bank approves $27m for states’ reforms
The World Bank-supported HOPE Governance Programme has approved the disbursement of $27 million in performance-based incentives to states that met the Year Zero Disbursement-Linked Results (DLRs) under the programme. The National Coordinator of the HOPE Governance Programme, Dr Assad Hassan, disclosed this on Tuesday during a retreat for Commissioners, Permanent Secretaries and Directors of Budget and Planning from the 36…
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FEC approves ₦34.4bn Benue airstrip, ₦286bn maritime projects – Keyamo, Lawal
The Federal Executive Council (FEC) has approved the construction of a ₦34.398 billion airstrip in Gboko, Benue State, and maritime projects worth about ₦286 billion aimed at improving aviation infrastructure, maritime safety and unlocking Nigeria’s blue economy. The approvals were announced on Monday by the Minister of Aviation and Aerospace Development, Festus Keyamo, and the Minister of Marine and Blue…
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Umahi: FEC approves 23 road projects worth ₦2.08tn across 10 states
The Minister of Works, David Umahi, has announced that the Federal Executive Council (FEC) approved 23 road projects valued at about ₦2.078 trillion across 10 states as part of efforts to improve road infrastructure and boost economic activities nationwide. Umahi disclosed this while briefing State House correspondents after Monday’s FEC meeting presided over by President Bola Tinubu at the Presidential…
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FG moves to address delayed fuel price cuts amid falling crude oil prices
The Federal Government on Monday said it is engaging petroleum marketers and regulators to ensure Nigerians benefit more quickly from declines in global crude oil prices, amid concerns that pump prices are not falling in line with international market trends. The move comes a day after the Federal Competition and Consumer Protection Commission (FCCPC) warned marketers against exploiting consumers by…
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FEC approves $2.96bn, €200m, ₦215bn financing for transport, agriculture, power, MSMEs
The Federal Executive Council (FEC), chaired by President Bola Tinubu, on Monday approved financing arrangements worth approximately $2.96 billion, €200 million and ₦215 billion to drive investments in transportation, agriculture, power, infrastructure and micro, small and medium enterprises (MSMEs). Briefing State House Correspondents after the council meeting, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said…
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British International Investment announces over £1bn for African businesses in 2025
British International Investment (BII), the UK’s impact investor and development finance institution, on Monday announced that it had made £1.07 billion of investments in Africa in 2025. The figure represented 59 per cent of BII’s total investments over the year – underlining its enduring commitment to the African continent. BII also announced that its climate commitments have exceeded $1 billion…
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