For more than a decade, Nigeria’s small and medium-scale enterprises (SMEs), the country’s largest employers and backbone of the real economy, have remained largely excluded from formal bank financing, despite repeated policy pledges to support them. An analysis of the Central Bank of Nigeria (CBN) Statistical Bulletin covering 2014 to 2023 reveals a troubling reality: …
As global financial markets converge, Nigerian traders are becoming early adopters of hybrid trading models that blend digital assets and traditional financial instruments. MEXC, a digital exchange platform, has recorded an innovative feat in Nigeria by integrating cryptocurrency and traditional finance (TradFi) assets on one platform, offering zero-fee trading promotions that put more profits …
States seeking access to the World Bank-assisted Human Capital Opportunities for Prosperity and Equity (HOPE-GOV) funds must publicly disclose details of their education and primary healthcare contracts, the Federal Ministry of Budget and Economic Planning has said. The new requirement, according to the ministry, is aimed at strengthening transparency and accountability in the use of …
The Anambra State government has directed traders in 12 additional markets to open on Mondays, warning that non-compliance could lead to temporary closures and legal action. The directive follows a one-week shutdown of Onitsha Main Market, which resulted from traders’ repeated refusal to open on Mondays, a practice the government said was disrupting economic activities …
A member of the Nigeria–Türkiye Business Council, Dr. Ifeanyi Onukwubiri, says the newly signed bilateral agreements between Nigeria and Türkiye will unlock fresh opportunities in trade, investment, and private-sector collaboration for both countries. Onukwubiri, CEO of TMT Travels and Tours Limited, noted that the accords reached by Presidents Recep Tayyip Erdoğan and Bola Ahmed Tinubu …
The Federal Government has reaffirmed its commitment to reclaiming Nigeria’s position among the world’s top cocoa-producing countries, aiming to drive job creation, economic growth, and food security. Speaking at the International Cocoa and Chocolate Forum (ICCF 2026) in London on January 26, 2026, Minister of Agriculture and Food Security Abubakar Kyari said Nigeria possesses natural …
A shop owner at Onitsha Main Market, Gibson Okafor, has described the government’s closure of the market as “putting fire to fire,” warning that it could drive customers away permanently. Governor Chukwuma Soludo of Anambra State ordered the shutdown of Onitsha Main Market on Monday, a decision that has drawn sharp criticism from traders and …
The federal government says Nigeria and Turkey will establish a joint economy and trade committee to boost bilateral trade to $5 billion. President Bola Tinubu departed Abuja on Monday for a state visit to Turkey. In a statement, Bayo Onanuga, presidential spokesperson, said Turkish President Recep Tayyip Erdogan reaffirmed Ankara’s commitment to expanding trade during …
A structured cargo consolidation ecosystem could generate tens of thousands of direct jobs across Nigeria’s maritime and aviation sectors, the Sea Empowerment and Research Centre (SEREC) has said. Indirect employment in trucking, cold-chain logistics, ICT, insurance, and finance could be two to three times higher. The centre highlighted roles such as freight planners, load controllers, …
The Central Bank of Nigeria (CBN) has approved the temporary use of expired National Agency for Food and Drug Administration and Control (NAFDAC) licences for import documentation. In a circular issued on Tuesday and signed by the Director of the Trade and Exchange Department, Aliyu Ashiru, the apex bank asked authorised dealer banks to continue …
