Federal Government Urges Women to Explore Capital Market Opportunities for Wealth Creation
The Federal Government has called on women across Nigeria to explore investment opportunities in the capital market, describing it as a vital tool for wealth creation and economic empowerment. This appeal was made during the launch of the Securities and Exchange Commission (SEC) Podcast in Abuja, an initiative aimed at boosting financial literacy and inclusion. The government emphasised the...
Federal Government’s Fuel Subsidy Debt to NNPCL Hits N7.74tn as Exchange Rate Differentials Soar
The Federal Government’s indebtedness to the Nigerian National Petroleum Company Limited (NNPCL) for exchange rate differentials on Premium Motor Spirit (petrol) imports has risen to N7.74tn as of September 2024. This debt, accumulated during the period of fuel subsidy implementation, reflects the cost of maintaining a specific retail price range despite higher importation costs. The government is now working...
Federal Government Announces N220m Prizes for Outstanding Entrepreneurs at National MSMEs Award
The Federal Government has unveiled plans to reward innovative and resilient entrepreneurs with prizes worth over N220m at the eighth edition of the National MSMEs Award. The awards, which include houses, shops, cars, and cash prizes, are part of events to mark the 2025 MSMEs Week and celebrate the 2024 United Nations World MSMEs Day. This initiative underscores the...
UK and Nigeria Strengthen Trade Relations Through National Quality Policy Implementation
The United Kingdom and Nigeria have reaffirmed their commitment to enhancing trade relations and driving economic growth through the implementation of Nigeria’s National Quality Policy under the Standards Partnership Programme Phase II (SPP – Phase II). Launched in June 2024, this initiative aims to eliminate technical trade barriers, improve regulatory compliance, and boost export competitiveness, marking a significant step...
Transactpay Launches All-in-One Digital Platform to Empower SMEs and Revolutionise Business Operations
Transactworld Digital, a leading fintech firm, has unveiled Transactpay, a comprehensive digital platform designed to empower small and medium-sized enterprises (SMEs) and transform their business operations. Transactpay goes beyond traditional payment processing, offering innovative solutions that enhance customer engagement, streamline transactions, and level the playing field for SMEs in the competitive e-commerce landscape. Transactpay is a game-changer for SMEs, providing...
Federal Government Unveils $122.2bn Energy Diversification Investment Plan to Transform Nigeria’s Power Sector
The Federal Government has announced an ambitious $122.2bn energy diversification investment plan aimed at transforming Nigeria’s power sector. The initiative, spanning 21 years from 2024 to 2045, seeks to reduce the country’s reliance on the national grid, enhance energy stability, and incorporate renewable energy sources such as solar, wind, and hydrogen into the energy mix. This groundbreaking plan, detailed...
NLC Vows Nationwide Protest Against Electricity Tariff Hike, Calls It “Economic Violence”
The Nigeria Labour Congress (NLC) has vowed to mobilise workers and citizens for a nationwide protest if the Federal Government proceeds with its proposed electricity tariff hike, labelling the move as “economic violence against the working class and broader Nigerian populace.” The NLC’s strong stance comes amid warnings from the National Union of Electricity Employees (NUEE) that Nigerians should...
Accountant-General Urges States to Curb Financial Leakages, Embrace Prudent Financial Management
The Accountant-General of the Federation, Dr Oluwatoyin Madein, has called on state governments to halt financial leakages and adopt prudent financial management practices to enhance revenue generation. During a working visit to the Federal Pay Office in Kano, Madein emphasized the importance of accountability, efficiency, and compliance with federal financial reforms to strengthen revenue collection and reduce unpaid liabilities. Dr...
Dangote Refinery’s Petrol Price Cuts Spark Mixed Reactions Among Importers and Dealers
The Dangote Petroleum Refinery has announced another reduction in the ex-depot price of petrol, slashing it by N65 to N825 per litre. While this move is celebrated by consumers, importers of petroleum products have expressed concerns over the impact on their businesses, as the price cuts make importation less attractive and could force dealers to sell below cost prices. The...
Economic Crisis Drives Shift in Employment Trends: Nigerians Embrace Remote Work and Gig Economy
Nigeria’s economic crisis is reshaping the employment landscape, with traditional nine-to-five jobs becoming increasingly unstable. Rising inflation, job cuts, and the high cost of living have forced many Nigerians to explore alternative work models, including remote jobs, gig economy roles, and side hustles. Experts warn that professionals who fail to adapt to these changing dynamics risk being left behind. As...
