Barbara Bako, Abuja. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, says Nigeria aims to attract $20 billion in investments by 2027 to achieve its economic goals. Mr. Edun said this on Friday at the citizen and stakeholders engagement on the implementation of the presidential priorities and ministerial deliverables for…
Jaiz Takaful Insurance has widened its customer base with increasing surplus distribution to insurance policyholders since 2020 financial year. Briefing journalist on Wednesday on the sideline of 2022 Financial Year Surplus Distribution ceremony in Abuja, the Managing Director, Ibrahim Usman Shehu, said his company led Takaful insurance industry’s performance with N230.8 million surplus distributed to…
The Federal Government of Nigeria has secured a sum of N1.1 trillion ($657.6m), through six Sovereign Sukuk to fund 124 federal road projects spanning over 5,820 kilometres across the six geopolitical zones. Director-General of Securities and Exchange Commission (SEC), Dr Emomotimi Agama, who stated this during the ongoing 2nd International Islamic Capital Market Conference in…
The Federal Government has announced the launch of Eurobonds worth $500 million under its Global Medium Term Note Programme to finance the 2024 budget deficit. The federal government intends to issue the Eurobonds in two tranches. The first is a six-and-a-half-year bond with a coupon rate of 10.125 per cent, while the second tranche is…
The Nigerian government has called on international development partners to co-finance phase two of the Special Agro-Industrial Processing Zone known as SAPZ-2 programme to accelerate the implementation of the initiative for agro-industrial growth in the country. This is just as Vice President Kashim Shettima has described the project as a game changer for the nation’s…
Appetite for Islamic finance rises as summit opens in Kano By Rabiu Murtala Hamza, Kano Islamic finance industry players have converged in Kano, the Northern Nigeria’s commerce nerve center, on Wednesday for a summit themed “Islamic Finance for Regional Prosperity and National Development”. The summit, which brought together stakeholders from banking, Takaful, capital market and…
The Kano State Government on Friday unveiled plans to support small scale entrepreneurs (SMEs) in the state with N25 billion loan. Adamu Aliyu Kibiya, the Commissioner of Commerce, Investment, and Industry, at a press conference said the loan scheme is part of the state government’s efforts to restore Kano’s reputation as a center of commerce….
Barbara Bako, Abuja. The Federal Government of Nigeria has revealed plans to source from the private sector, part of the 10 billion dollars required to provide regular electricity power supply across Nigeria within the next five to 10 years. The Director General of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Oseodion Ewalefoh had the…
Fitch Solutions, a financial intelligence service provider, has predicted that the naira would slide to as low as N1,993 per dollar in exchange rate by 2028, severely impacting Nigeria’s pharmaceutical industry to import medical devices. In a new report, the company’s subsidiary, BMI Research, said despite an expected rebound in the economy, Nigeria’s medical devices…
Resent research has showed that Nigeria’s external debt has risen to $42.9 billion as of the end of June 2024. According to the Debt Management Office (DMO), the share of 36 states and the Federal Capital Territory (FCT) constitutes 11 per cent of the loans at $4.89 billion while the Federal Government’s debt stands at…
