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U.S Announces $1.2Bn Grants For Airports’ Upgrade

Determined to buoy air travels and by implication, increase aviation sector’s contributions to national Gross Domestic Product (GDP) growth as the COVID-19 pandemic impact remains huge on the economy, the United States on Friday announced that additional $1.2bn grants would be provided for airports nationwide to upgrade their facilities. The U.S Secretary of Transportation, Elaine […]

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AfDB Governors Endorse Adesina’s Second-Term Devt Programmes

The Board of Governors of the African Development Bank (AfDB) has given the newly re-elected President of the continental development finance institution, Dr. Akinwumi Adesina, a mandate to renew a focus on the institution’s priorities, including closer continental integration, boosting renewable energy sources and developing infrastructure. The re-election of Adesina, who voiced great optimism about […]

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UN identifies digital finance as key to attainment of SDGs

The United Nations today identified digital finance as key to providing relief for millions around the world, supporting businesses and protecting jobs and livelihoods in the face of unprecedented social and economic crisis caused by the COVID-19 pandemic to the world. Today a new report titled “People’s Money: Harnessing Digitalization to Finance a Sustainable Future”, […]

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Ogun Governor Proposes N450Bn Budget For 2020 Fiscal Year

Ogun State Governor, Mr. Dapo Abiodun, has presented an Appropriation Bill with a provisional value of N449.97 billion to the state’s Legislature for consideration as budget for the 2020 fiscal year. According to the budget proposal tagged ‘Budget to Build our Future Together’ laid before the State House of Assembly on Tuesday, the governor earmarked […]

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World Bank Lists Challenges To Nigeria’s Entrepreneurial Ecosystem

The World Bank Group on Thursday reported that although Nigeria is the largest mobile market in Sub Saharan Africa (SSA) with a strong mobile broadband infrastructure and a vibrant digital entrepreneurial ecosystem, the lack of infrastructure and connectivity in the country’s rural areas is a key challenge. The Breton Woods institution disclosed this during the […]

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Senate Seeks Improved Funding For Border Communities’ Devt Agency

The Senate has urged the Federal Government to improve funding for the Border Community Development Agency (BCDA) to mitigate the communities’ under-development and improve the welfare of people living in border communities. The call for funding of BCDA was sequel to a motion sponsored by Sen. Sadiq Suleiman and co- sponsored by 21 other senators […]

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NSIA Reports N68.3Bn Profit, To Get New $250Mn Support

The Nigeria Sovereign Investment Authority (NSIA) on Thursday disclosed that it posted N68.3 billion as profit from January 2018 to June 30 this year from its various investment activities. The Managing Director of state-owned investment authority, Mr Uche Orji, who made the disclosure at the end of the National Economic Council (NEC), meeting held in […]

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SEC Developing Teachers Guides On CMS To Boost Financial Literacy – Uduk

The Securities and Exchange Commission (SEC) on Thursday stated that it had commenced the development of teachers’ guides on Capital Market Studies (CMS) as part of the initiatives being taken to introduce the studies into the curriculum of schools nationwide. The Acting Director General of the commission, Ms Mary Uduk, gave this hint in her […]

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AFC Issues $500Mn Eurobond For General Corporate Services

Africa Finance Corporation (AFC), Africa’s infrastructure financing organisation, has issued a $500 million 10-Year Eurobond for general corporate services. The Corporation in a statement indicated that the “senior, unsecured Eurobond, which carries a coupon of 3.75 percent, was priced to yield 3.895 percent for a tenor of 10 years, being  the longest tenor bond issued […]

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Board Of Governors Approves New $115Bn Capital For AfDB

Governors of the African Development Bank, representing shareholders from 80 countries, approved a landmark $115 billion increase in capital for the continent’s foremost financial institution at an extraordinary shareholders’ meeting held Thursday in Abidjan,.the Ivory Coast capital. The capital increase, the largest in the history of the development finance institution since its establishment in 1964, demonstrated […]