The Federal Government has launched a groundbreaking initiative to enhance Nigeria’s wheat production, aligning with its efforts to strengthen food security and reduce dependence on imported wheat. The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who stated this in his office in Abuja, disclosed that the Ministry is thus...
Category: Economy
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FG, STATES, LGCs SHARE N 1.727 TRILLION NOVEMBER 2024 REVENUE
A total sum of N 1.727 trillion, being November 2024 Federation Accounts Revenue, has been shared to the Federal Government, States and the Local Government Councils. The revenue was shared at the December 2024 meeting of the Federation Accounts Allocation Committee (FAAC) held in Abuja. The N1.727 trillion total distributable revenue comprised distributable statutory revenue...
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NIGERIA PRICES US$2.2 BILLION IN A 6.5-YEAR AND 10-YEAR EUROBONDS,WITH PEAK ORDERBOOKS IN EXCESS OF US$9.0 BILLION
Abuja: 2 December 2024: The Federal Republic of Nigeria (the “Republic”) successfully priced US$2.2 billion in Eurobonds (the “Notes”) maturing in 2031 (6.5-year) and 2034 (10-year) in the international capital markets on 2 December 2024, with US$700 million andUS$1.5 billion placed in the 2031 and 2034 maturities, respectively. The 6.5-year and the 10-year. The Notes...
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FG COMMIT TO SUPPORTING MSMEs FOR SUSTAINABLE GROWTH
In its avowed determination to drive economic growth and sustainable development, the Federal Government has reaffirmed its commitment to supporting Micro, Small, and Medium Enterprises (MSMEs) as well as manufacturing enterprises through the FGN Loan Scheme. This initiative is part of the government’s broader strategy to integrate the informal sector into mainstream economic planning, accelerate...
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FG SECURES €300 MILLION DEVELOPMENT PARTNERSHIP WITH FRANCE
In a landmark move to strengthen bilateral ties and drive sustainable development, the Federal Government of Nigeria has secured a €300 million development partnership with France. This significant agreement is set to bolster key sectors of Nigeria’s economy, including healthcare, transportation, and renewable energy. The Honourable Minister of Finance and Coordinating Minister of the Economy,...
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WALE EDUN APPLAUDS CIVIL SERVICE FOR DRIVING MACRO-ECONOMIC REFORMS
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has commended the pivotal role of Nigeria’s civil service in implementing President Bola Ahmed Tinubu’s bold macro-economic reforms. Speaking at the launch of the Federal Civil Service Policies and Guidelines and the celebration of Mrs. Didi Esther Walson-Jack’s 100 days in...
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FAAC: Zulum orders cabinet to rid dependence federal allocation, work towards meat export
Gov: Zulum direct cabinet to focus on livestock, meat export to enhance revenue Shift focus on federal allocation to livestock to enhance exports, revenue – Zulum tells cabinet *Create livestock ministry*Swears in 2 new commissioners By Achadu Gabriel, Kaduna Borno State Governor, Babagana Umar Zulum, has directed his cabinet to work toward shifting focus from...
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Naira Devaluation Worsens Cost of Living for Resident Doctors in Ilorin
The devaluation of the naira has taken a toll on the cost of living for resident doctors in Ilorin, according to the Association of Resident Doctors, University of Ilorin Teaching Hospital (ARD-UITH). The association’s president, Dr. Yusuf Jamiu, lamented that the devaluation has increased the financial burden on resident doctors, making it challenging for them...
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AGF CALLS FOR ENTRENCHMENT OF TRANSPARENCY AND ACCOUNTABILITY IN ALL ASPECTS OF GOVERNANCE.
The Accountant General of the Federation, Dr. Oluwatoyin Madein, has said that transparency and accountability should be entrenched at all tiers and aspects of governance in the country. Minister of Finance, Mr. Wale Edun; Permanent Secretary, Federal Ministry of Finance, Mrs Lydia Jafiya and the Accountant General of the Federation, Mrs. Oluwatoyin Madein during the...
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FG, STATES, LGCs SHARE N1.411TRILLION FROM A GROSS TOTAL OF N2.668 TRILLION FOR THE MONTH OF OCTOBER 2024
The Federation Account Allocation Committee (FAAC), at its November 2024 meeting in Bauchi chaired by Accountant General of the Federation, Dr. Mrs.Oluwatoyin S.Madein, shared a total sum of N1.411 Trillion to the three tiers of government as Federation Allocation for the month of October, 2024 from a gross total of N2.668 Trillion. From the stated amount...