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FEC approves $2.96bn, €200m, N215bn financing for transport, agric, power, MSMEs sectors
Federal Executive Council (FEC), Monday, approved a series of financing arrangements worth about $2.96 billion, €200 million and N215 billion to boost transportation, agriculture, power, infrastructure and micro, small and medium enterprises (MSMEs). Disclosing after the FEC meeting in Abuja,…
FG may clamp down on petrol marketers over continued high pump prices
Federal Government has expressed displeasure with Premium Motor Spirit (PMS) or petrol marketers over the continued high pump price of the product despite the easing of global tensions in the Middle East which triggered the rise in the first place. The…
Petroleum products’ pump prices continue rise nationwide in May, as diesel records 86% increase — NBS
Latest Price Watch data released by the National Bureau of Statistics (NBS) has shown that May pump prices of the three major petroleum products continued to rise compared to same period last year. The NBS data disclosed that diesel recorded the…
Tinubu approves free CAC registration for 250,000 MSMEs nationwide
President Bola Tinubu has approved the free formalisation and corporate registration of 250,000 Micro, Small, and Medium Enterprises (MSMEs) across the country. Presidency which confirmed the development, Saturday, at the State House in Abuja during the 8th National MSME Awards 2026, explained…
SMEDAN launches zero-interest N500m ‘Grow Fund’ scheme for MSMEs
Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched a N500 million zero-interest revolving loan scheme, tagged ‘Grow Fund,’ to provide easier access to finance for members of business and professional associations across the country. Director-General of SMEDAN, Charles…
FCCPC places 112 loan apps on watchlist over infraction, grants operational licenses to 48 others
Federal Competition and Consumer Protection Commission (FCCPC) has granted full operational approvals to 48 digital loan companies that previously held conditional approval, bringing the total number of fully licensed digital money lenders in Nigeria to 505. This is also as the…
Despite IMF, Fitch concerns, FG draws $1.5bn first tranche of $5bn Abu Dhabi bank loan
Despite concerns raised by the International Monetary Fund (IMF) and Fitch Ratings, the Federal Government has proceeded to draw the first tranche of a $5 billion loan agreement with the First Abu Dhabi Bank (FAB) worth $1.5 billion. The Nigerian senate…
IPMAN decries bearing brunt of petroleum products market volatility
Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have decried bearing the brunt of market volatility in the downstream petroleum sector, even as they berated the frequent products’ pump price fluctuations in the country. IPMAN leadership disclosed this…
Nigeria’s headline inflation hits 15.93% in May, as CPI rises by 140.7% in one month
National Bureau of Statistics (NBS) has disclosed that Nigeria’s headline inflation rate increased to 15.93 per cent year-on-year in May 2026, up from 15.69 per cent the previous month. The NBS Consumer Price Index (CPI) also rose from 138.3 per cent…
CBN orders banks to freeze assets of six persons, four BDCs over terrorism financing
Sequel to the action taken by the United States government in exposing three persons, including a Nigerian foreign exchange dealer linked to a terrorism group, the Central Bank of Nigeria (CBN) has followed with a directive to commercial banks to freeze…
