CBN Disburses N12.65bn to Farmers in Two Months
According to the Central Bank of Nigeria (CBN), it has disbursed N12.65 billion to farmers through its anchor borrower program (ABP) in the first two months of 2023. The CBN…
Federal Govt. Approves N15b for Road Linking Second Niger Bridge, €3.7m for Power
The Federal Executive Council (FEC) has approved N15 billion for the construction of an access road connecting the Benin-Asaba expressway to the Second Niger Bridge. Lai Mohammed, Minister of Information…
Governor Sanwo-Olu Assists PSP Operators with Recapitalization Fund
Lagos Governor Babajide Sanwo-Olu has approved a budget for 2023 to assist Private Sector Participation (PSP) operators in recapitalizing their fleets by introducing new waste evacuation trucks. Ibrahim Odumboni, Managing…
Federal Government says 1.9m Nigerians receive N5,000 Monthly
On Thursday, the Federal Government announced that 1,940,004 vulnerable Nigerians are currently receiving N5,000 cash gifts each month. This was stated by Hajia Sadiya Farouq, Minister of Humanitarian Affairs, Disaster…
Flour Mills to Raise N40 billion from Commercial Papers
Flour Mills of Nigeria Plc, Nigeria’s largest food company, intends to raise N40 billion in new debt capital to boost working capital and diversify its balance sheet. According to preliminary…
Payment Startup Grey, Pledges to Continuously Raise the Bar for Service Excellence
Grey, a leading startup that provides access to foreign accounts for African freelancers and digital nomads, has reaffirmed its dedication to providing cutting-edge and secure global banking solutions to the…
[REPORT] Africa Tech Ecosystem Raised $6.5b in 2022; Nigeria Attracted $1.2b
Partech Africa, the VC fund dedicated to technology startups in Africa, has issued its annual report on Africa Tech Venture Capital. The report, which aims to provide a practical picture…
NBS says Nigeria Spent N205.38b on Importation of Medicines
According to the National Bureau of Statistics (International Trade Data), Nigeria spent N205.38 billion on the importation of medicines in a period of nine months. The drug was imported between…
FSDH Merchant Bank gets $35m Financing from IFC to Support Enterprises in Nigeria
In collaboration with FSDH, Nigeria’s top merchant banking group, the International Finance Corporation (IFC) has authorized a credit facility worth US$35 million that will be used to increase access to…
Free Trade Zones have Generated $46b, says FG
The Nigerian government has disclosed that thus far, investments in its export processing zones have totaled $46.6 billion. At the 30th anniversary of Nigeria’s free trade zone program, Prof.…
African Software Company Ramani Announces $32M Series A
Ramani, the African software company building a cloud network of micro-distribution centres for Africa’s $1 Trillion consumer-packaged goods supply chain, has today announced the close of its $32 million series…
NBS says Gas Prices Increase by 86.62% in 1 Year
“The Northwest recorded the lowest average retail price at N868.89 per litre of kerosene,” the NBS stated.
Nigeria Needs $2.3trn to Bridge Infrastructure Deficit, says Finance Minister
Nigeria has issued four circles of SUKUK bonds totaling N64.5 billion, and there’s a fifth circle that is under preparation that will be worth about N250 billion
Nigerian Government Spends $100m Feeding 10m School Children
According to the Federal Government, the National School Feeding Program cost approximately $100 million to feed 10 million Nigerian children. This was a part of the country’s efforts to end…
Providing Access to Finance is One of Carbon’s Biggest Achievements
...Traditional banks are still trailing in the aspect of making finance (loans) accessible to customers