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CBN Approves N500Mn Grant For Undergraduates, Graduates’ Entrepreneurship Scheme

The Central Bank of Nigeria (CBN) has initiated a scheme to support Nigerians in tertiary institutions with a N500 million grant to promote entrepreneurship and reduce unemployment. The apex bank made the disclosure in a report published on Wednesday with the title ‘Guidelines for the implementation of tertiary institutions entrepreneurship scheme’. Specifically, it stated that […]

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China’s FDI Flows Up 19.6% In 9 Months As Economy Remains Upbeat

Foreign direct investment (FDI) into the Chinese mainland rose, in actual use by 19.6 percent year on year (Y-o-Y) in the first nine months of the current year. According to the country’s Ministry of Commerce, while non-financial FDI into China totaled 859.5 billion yuan between January and September, FDI into the Chinese mainland totaled $129.3 […]

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Gov Bello Parleys Foreign Investors To Boost Niger State FDI Inflows

Governor Abubakar Bello of Niger State has opened discussions with foreign investors and business owners with a view to encouraging them to partner the state government in its efforts aimed at boosting foreign direct investment (FDI) inflows to the state. Bello, at the Unlock Africa Programme investors’ meetings in London, expressed the state government’s readiness […]

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Osinbajo Urges CBN On ESP Programmes’ Funding, Forex Strategy

Nigeria’s Vice President, Prof. Yemi Osinbajo, has urged the Central Bank of Nigeria (CBN) on faster disbursement of funds to fast-track the implementation of the Economic Sustainability Plan (ESP) , including the 5 million Solar Connection Scheme and the agriculture plans. In addition, he advised the apex bank to review the foreign exchange strategy with […]

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Biosafety Agency Approves Cultivation Of TELA Maize In Nigeria

The National Biosafety Management Agency (NBMA), the agency mandated to regulate genetically modified products in Nigeria, has granted environmental approval for evaluation and open cultivation of TELA Maize in the country. A statement issued at the weekend by Communication Officer, African Agricultural Technology Foundation (AATF), West and Central Africa, Alex Abutu,  indicated that TELA maize […]

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U.S SEC Charges Hemp Firm, Co-Founders With $15Mn Fraud

The U.S Securities and Exchange Commission (SEC) has charged CanaFarma Hemp Products Corp. and its co-founders with fraudulently raising approximately $15 million from investors, and misappropriating a significant portion of the investor funds for personal use and other unrelated purposes. The SEC’s complaint alleges that in 2019 and 2020, CanaFarma, a Canadian startup hemp company […]

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LCCI Lauds FG’s Monetary Policies, Calls For Improved Non-Oil Revenue, Infrastructure

The Lagos Chamber of Commerce and Industry (LCCI) on Tuesday commended the monetary authorities on recent policy measures adopted to manage the economy and canvassed the need for improved non-oil revenue and infrastructure development to sustain the current growth trajectory in the nation’s economy. The President of the organized private sector (OPS) umbrella body, Mrs. […]

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Nigeria Spends $2Bn Yearly On Wheat Importation – CBN

The Central Bank of Nigeria (CBN) has reported that Nigeria spends around $2 billion annually on the importation of wheat. The apex bank’s Director, Development Finance Department, Yila Yusuf, made this disclosure, at the Wheat Conference and Stakeholder Engagement with the theme ‘Improving and Sustaining the Wheat Value Chain Development in Nigeria’ held in Abuja. […]

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ACCI Tasks FG On Policies To Support Investments

The Abuja Chamber of Commerce and Industry (ACCI) has advocated the need for policy measures to support investments in the country, especially those that could help indigenous entrepreneurs to grow their businesses in order to ensure sustainable growth of the nation’s economy. The Chamber’s President, Dr. Mujtaba Abubakar, in his chat with journalists at the […]

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CSEA Tasks FG On Railway Transportation Investments

The Centre for the Study of Economies of Africa (CSEA), a leading research think-tank on economic development trends in Africa, has advised the Federal Government to encourage public-private investments in the nation’s rail transportation system through appropriate policies to grow the economy. The research firm, in its latest Nigeria Economic Update Issue No 37 sourced […]