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The United States has stepped in to finance the technical architecture for a small-scale liquefied natural gas plant designed to rescue northern Nigeria’s stranded industrial sector. The US Trade and Development Agency signed an agreement to grant 1.22 million dollars to Powergas Nigeria Limited to conduct a comprehensive feasibility study. The proposed facility will sit…
The European Bank for Reconstruction and Development has announced plans to invest at least 1.5 billion dollars in Nigeria over the next three years. The multilateral lender launched its Lagos office this week, marking its first operational base in Sub-Saharan Africa. Directors cited stabilizing macroeconomic reforms, improving foreign exchange liquidity, and a growing pipeline of…
The federal government and the United Nations Children’s Fund have launched a long-term development framework to address the welfare of Nigerian children by 2050. The initiative aims to tackle the chronic out-of-school crisis and build systemic capacity for future generations. Coordinated by the Office of the Vice President, the programme introduces strategic foresight tools into…
The United States has withdrawn the majority of its military personnel from Nigeria following a high-profile, short-term counterterrorism mission in the Lake Chad Basin. General Dagvin Anderson, Commander of US Air Forces in Europe-Air Forces Africa, confirmed the troop departure during a virtual briefing on Thursday. The temporary deployment achieved its tactical objectives, leading to…
Nigeria has retained its position as Africa’s largest economy while slipping further down international competitiveness rankings. The latest Global Competitiveness Report highlights a stark divergence between raw economic size and systemic productivity. The country outperformed continental rivals in gross domestic product, largely driven by resilient service sectors and a massive domestic market. However, severe infrastructural…
The federal government has drastically reduced customs duties on imported vehicles by up to 67 percent to ease economic hardship. The unexpected policy shift targets commercial buses, passenger cars, and essential transport trucks arriving at national seaports. The Comptroller-General of the Nigeria Customs Service confirmed that the directive takes immediate effect across all entry points….
The federal government has called for an aggressive influx of development finance and private capital to achieve its ambitious $1 trillion economic target. Vice-President Kashim Shettima made the appeal during a high-level financial summit in Abuja on Thursday. The administration argues that public revenue alone cannot fund the massive infrastructure deficit blocking national growth. Officials…
The World Bank has endorsed a fresh $1.25bn loan for Nigeria under its Actions for Investment and Jobs Acceleration programme. The endorsement came alongside the launch of a new Country Partnership Framework spanning 2026 to 2032. This development follows intense public anxiety over the country’s soaring external debt profile. Many citizens note that previous debt…
The Federal Government has raised its 2026 independent revenue target to N2.5tn to boost non-oil income. Acting Executive Chairman of the Fiscal Responsibility Commission, Charles Abana, announced the fresh target in Abuja. The policy shift follows the close monitoring of N1.84trn generated by public agencies as of September 2025. This ambitious fiscal benchmark comes at…
Nyesom Wike has told the Peoples Democratic Party to abandon any hope of returning to office through entitlement, declaring at the party’s 109th National Executive Committee meeting in Abuja on Wednesday that political power is seized through struggle rather than handed over. Addressing party faithful, the Minister of the Federal Capital Territory and PDP…
