By Seun Ibiyemi The Central Bank of Nigeria (CBN) has unveiled plans to recapitalise and restructure development finance institutions (DFIs) in a bid to address the widening financing gap facing micro, small and medium enterprises (MSMEs) in the country. The Deputy Governor for Economic Policy at the CBN, Muhammad Sani Abdullahi, disclosed this during a…
By Seun Ibiyemi Africa’s manufacturing sector remains under significant pressure heading into the second quarter of 2026, as rising energy costs and foreign exchange (FX) volatility continue to constrain growth, according to the latest PAMA Industry Pulse report. The report, which captures sentiment across the continent, identified energy and power reliability as the most critical…
By Seun Ibiyemi Nigeria’s pension assets surged to N29.43 trillion in February, marking a month-on-month increase of N1.39 trillion, the highest monthly expansion since the introduction of the Contributory Pension Scheme (CPS) over 20 years ago. The previous record of N1.18 trillion was posted in January 2024, according to data from the National Pension Commission…
By Seun Ibiyemi The Nigeria Customs Service (NCS), Nigerian Revenue Service (NRS), and the Presidential Enabling Business Environment Council (PEBEC) conducted an assessment visit on Tuesday to the National Single Window office in Apapa to evaluate the performance of the newly introduced trade facilitation platform. The visit aimed to review operational progress, identify challenges, and…
By Seun Ibiyemi The Federal Government (FG) has revised its 2026 borrowing plan, raising the projected figure by ₦11.31 trillion to a new total of ₦29.20 trillion, according to the recently approved 2026 Appropriation Bill. The adjustment marks a significant increase from the ₦17.89 trillion initially projected in the Abridged Budget Call Circular released in…
Nigeria’s Bank Verification Number (BVN) database rose to 68.6 million in March 2026, reflecting continued growth in financial identity registration, though at a slower pace compared to previous years. Latest data released by the Nigeria Inter-Bank Settlement System (NIBSS) shows that the database expanded by 754,128 between January and March 2026, up from 67.8 million…
By Seun Ibiyemi The Presidential Enabling Business Environment Council (PEBEC) has directed all Ministries, Departments, and Agencies (MDAs) to suspend the introduction of new policies and regulatory changes in a bid to prevent disruptions to businesses and investors. The directive was announced in Abuja by the Director-General of PEBEC, Zahrah Mustapha-Audu, as part of broader…
By Seun Ibiyemi Nigeria’s economy showed encouraging signs of recovery in the first quarter of 2026, with improved macroeconomic stability, although rising costs and external uncertainties continue to pose significant risks. According to a policy brief by the MD/CEO Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, inflation declined steadily, dropping to…
By Seun Ibiyemi President Bola Ahmed Tinubu on Saturday commissioned a series of landmark projects in Ogun State, including the Federal Operations Unit, Zone A, the anti-smuggling arm of the Nigeria Customs Service – featuring a multi-billion naira new office building at Iperu. He also inaugurated the Customs Training College housed within the same facility….
The Oyo State Government, in partnership with First City Monument Bank (FCMB), has disbursed ₦1.5 billion in collateral-free loans to 1,000 young agripreneurs to boost food production and support youth-led enterprises. The funding was delivered under the Easylift programme in collaboration with the Mastercard Foundation. It combines ₦500 million contributed by the state government with…
