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Category: Business

Nigeria Launches Lagos International Financial Centre to Boost Global Financial Standing

The Federal Government has officially approved the creation of the Lagos International Financial Centre (LIFC), a landmark project aimed at establishing Nigeria as a premier global financial hub. The initiative underscores the government’s dedication to macroeconomic stability, investment mobilization, and financial sector reforms, according to a statement by Mohammed Manga, Director of Information and Public …

Nigeria and Brazil Seal $1.1 Billion Green Imperative Project to Revolutionize Agriculture and Boost Food Security

Nigeria and Brazil Seal $1.1 Billion Green Imperative Project to Revolutionize Agriculture and Boost Food Security In a landmark move to transform Nigeria’s agricultural sector, the Nigerian government, in collaboration with Brazil, has signed the commercial phase of the $1.1 billion Green Imperative Project (GIP). The agreement, finalized on Monday at the Presidential Villa in …

How to Register for the FGN MSME Intervention Program: A Step-by-Step Guide

The Federal Government of Nigeria (FGN) has launched a ₦75 billion Micro, Small, and Medium Enterprise (MSME) Intervention Program to provide crucial financial support to businesses nationwide. This program aims to unlock the financial potential of MSMEs, reduce production costs, create jobs, and boost economic growth. This guide provides a detailed overview of the program’s …

Nigeria Launches Creative and Tourism infrastructure Corporation (CTICo) and Creative Leap Acceleration Programe (CLAP) to Boost Creative and Tourism Sectors

In a landmark move to transform Nigeria’s creative and tourism industries, the Federal Ministry of Art, Culture, Tourism, and Creative Economy, under the leadership of Honourable Minister Hannatu Musawa, has announced the approval of two groundbreaking initiatives by the Federal Executive Council (FEC). The Creative & Tourism Infrastructure Corporation (CTICo) and the Creative Leap Acceleration …

Nigeria’s Non-Oil Exports Hit $5.45 Billion in 2024, NEPC Reports

The Nigerian Export Promotion Council (NEPC) has announced a significant milestone in the country’s trade performance, revealing that Nigeria’s non-oil exports reached $5.45 billion in 2024. This marks a 20.7% increase in value compared to previous years, with the total trade volume for the year standing at 7.2 metric tons. The announcement was made by …

Nigeria’s E-Payment Revolution: Transactions Hit N1.07 Quadrillion in 2024

Nigeria’s digital payment landscape has exploded in 2024, with electronic transactions reaching a record-breaking N1.07 quadrillion, equivalent to approximately $702.6 billion. This monumental figure, based on a N1,535/$1 exchange rate as of December 31, 2024, marks the first time the nation has crossed the quadrillion naira threshold in e-payments. Data released by the Nigeria Inter-Bank …

Nigeria joins BRICS as Partner Country 

Nigeria has officially joined BRICS as a partner country, as confirmed by Brazil’s Foreign Ministry on January 17, 2025. This move, established at the 16th BRICS Summit in October 2024, aligns with the shared goals of strengthening cooperation among Global South nations and advocating for reforms in international organizations. Nigeria joins eight other partner countries: …

Nigeria Rises to Second in Africa’s 2024 Hotel Development Rankings

Nigeria has climbed to second place in Africa’s 2024 Hotel Development Rankings by room numbers, boasting 7,622 rooms across 50 hotels. This surge is driven by significant developments from major global hotel chains such as Hilton, Radisson, Marriott International, and Leva Hotels, with Lagos leading the expansion with five new hotel deals. Egypt maintains its …