IFC Invests $50 Million in Lagos Free Zone to Boost Nigeria’s Industrial and Economic Growth
The International Finance Corporation (IFC) has announced a significant equity investment of up to $50 million in Lagos Free Zone ...
Tag: Economy news
U.S. and Nigeria Partner on $2 Million Grant for Fiber Optic Expansion
The United States and Nigerian governments have signed a $2,095,000 grant to evaluate the feasibility of deploying over 90,000 kilometers ...
Afreximbank Advocates Youth Empowerment for Africa’s Economic Future
The African Export-Import Bank (Afreximbank) has reiterated the importance of empowering Africa's youth, emphasizing their role in shaping the continent’s ...
Nigeria Renews $2 Billion Currency Swap Deal with China
Nigeria has renewed a $2 billion (15 billion yuan) currency swap agreement with China, aiming to bolster bilateral trade and ...
TikTok Removes 2.1 Million Nigerian Videos in Q3 2024, See Why
TikTok, the popular short-video platform owned by ByteDance, has revealed in its Q3 2024 Community Guidelines Enforcement Report that 2.1 ...
Naira Crash and Inflation Deepen Nigeria’s Food Crisis
Nigeria’s worsening food crisis is fueled by naira devaluation, rising insecurity, and surging inflation, according to Afreximbank’s report, Food Imports ...
Senate Approves Bill to Raise Minimum Capital Requirements for All Insurance Companies in Nigeria
The Senate has approved the Nigerian Insurance Industry Reform Bill, 2024, introducing significant changes to modernize the sector. It mandates ...
African Investors Contribute 22.76% to Nigeria’s Q3 2024 Capital Inflows Despite Decline
The National Bureau of Statistics (NBS) reports that African investors, excluding Nigeria, accounted for 22.76% of Nigeria’s foreign capital inflows ...
NAFDAC Cracks Down on Sachet Alcohol Sales, Seizes Illicit Beverages in Owerri
The National Agency for Food and Drug Administration and Control (NAFDAC) has ramped up its enforcement of the federal government's ...
FCT Administration Commits $1.05 Billion for Educational Sector Development
The Federal Capital Territory (FCT) Administration has announced an investment of $1.05 billion for the development of infrastructure in the ...
