Governments should avoid relying on broad food price subsidies during periods of rising food prices because they can consume scarce public resources while disproportionately benefiting wealthier households, the International Monetary Fund (IMF) has warned. In a report shared on Thursday, September 2026, the IMF said governments should instead diagnose the cause of a food-price shock …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 Licensing Round will officially kick off in the third quarter (Q3) of 2026. This follows formal approval from the Minister of Petroleum Resources, in strict alignment with the provisions of the Petroleum Industry Act (PIA). The announcement was made by the Commission Chief …
Africa's youth population is growing faster than anywhere else in the world. Yet behind falling unemployment figures lies a troubling reality: millions of young people are trapped in low-paying, informal jobs that offer little hope of escaping poverty. As another 132 million youths prepare to enter the labour market by 2030, experts warn that the …
The African Export-Import Bank (Afreximbank) has launched its first Accelerator Programme to support startups building Africa’s digital trade ecosystem. The programme kicked off in Cairo with eight selected startups from across Africa and the diaspora. The cohort emerged from over 1,600 applications. The startups operate in key areas such as cross-border payments, logistics, agri-export, and …
Nigeria’s plan to generate up to $200 billion in non-oil export revenue over the next five years is facing serious uncertainty as the escalating conflict between Iran and Israel disrupts global shipping routes and drives up logistics costs. Exporters and supply-chain experts warn that the crisis in the Middle East is already inflicting losses on …
The Nigerian government and the United Kingdom have taken steps to update their existing Memorandum of Understanding (MoU) on Migration Management and Returns, in a bid to enhance lawful migration processes, security collaboration, and economic cooperation between both countries. Minister of Interior, Olubunmi Tunji-Ojo, disclosed this during a meeting in Abuja with the British High …
The Federal Government and Japan have launched a $50 million Impact Innovation Fund to support Nigerian startups tackling critical social challenges. This follows agreements signed between the Nigeria Sovereign Investment Authority (NSIA) and the Japan International Cooperation Agency (JICA). The signing ceremony, held at the Ministry of Budget and Economic Planning in Abuja on Friday, …
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: …
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, has revealed that Nigeria’s ongoing tax reforms have exposed him to threats against his personal safety. Oyedele disclosed this on Tuesday in Abuja while speaking at a governance colloquium organised to mark the 50th birthday of Hajiya Hadiza Bala Usman, Special …
The Federal Government, through the Nigerian Ports Authority (NPA), is bolstering the national economy with record trade facilitation, infrastructure upgrades, and operational efficiencies. A new $60 million investment in green port initiatives under President Bola Tinubu’s administration aims to modernise NPA operations and promote local content development. Data from 2025 shows unprecedented growth at Nigeria’s …
