$1tn Economy: Fed govt launches operating model, framework on economy inclusion
Photo Credit: The Nation Nigeria
Nigeria’s target of hitting a $1 trillion economy by 2030 moved a step closer on Wednesday, July 3, with the launch of a new initiative to establish an operating model and framework for Economic and Financial Inclusion by the federal government.
The initiative, launched by Vice President Kashim Shettima in his office at the State House, Abuja, is designed to combat poverty and catalyze sustainable economic growth from the ground up.
In a statement issued by senior special assistant to the president on media and information, Stanley Nkwocha, Vice President Shettima said the initiative symbolises the commitment of the President Bola Ahmed Tinubu administration to enhancing financial and economic inclusion across Nigeria.
Photo Credit: Google
2027: I am not interested in Greek gifts, says Diri
Photo Credit: The Nation Nigeria
Bayelsa State governor, Douye Diri, has rejected the suggestion for former Vice President of Nigeria, Alhaji Atiku Abubakar, to choose him as his running mate in the 2027 presidential election.
The suggestion, made by a group named Diri Angels, was sarcastically proposed in a statement on Tuesday, July 2.
The group expressed hope that Atiku Abubakar, who was the Peoples Democratic Party (PDP) candidate in the 2023 presidential election, would emerge as the party’s candidate again in 2027.
Speed Up IOC Divestments To Unlock 200,000bpd Oil, 1.5bcf Gas – IPPG
Photo Credit: Leadership News
The Independent Petroleum Producers Group (IPPG) has called on the federal government to accelerate the conclusion of all the pending International Oil Companies (IOCs) divestment transactions in the country to unlock over 200,000 barrels per day (bpd) of crude oil and 1.5 billion cubic feet (bcf) of natural gas production.
The group emphasised that the move would also boost investment in the upstream sector and improve the country’s oil and gas production capacity.
IPPG chairman, Abdulrazaq Isa, made the call at the ongoing 2024 Nigerian Oil and Gas (NOG) Energy Week on Tuesday in Abuja
FMO, FCMB, EU Sign $25m Deal To Assist Excluded SMEs
Photo Credit: Leadership News
The Dutch entrepreneurial development bank (FMO) and Nigeria’s First City Monument Bank (FCMB) have signed a $25 million NASIRA guarantee agreement to enable FCMB expand its funding to agricultural, youth, and women-owned SMEs without requiring collateral, targeting a client group typically deemed too risky by banks.
According to a statement issued by FMO, the agreement was signed at the side-lines of the 9th Nigeria EU Business Forum in Abuja on Tuesday. This project, funded by the European Commission, NASIRA is one of FMO’s most innovative programs, encouraging local banks to extend their funding to small entrepreneurs without collateral.
The statement said that often, the FMO guarantee – that effectively replaces the collateral – is not fully utilised, demonstrating that these entrepreneurs, primarily women and young people, are not riskier than others.