DBN Disburses Over N1trn to MSMEs   The Development Bank of Nigeria Plc (DBN) has announced that it has disbursed over N1tn to Micro, Small and Medium Enterprises (MSMEs) through 79 participating financial institutions across the country. The disclosure was made at a media parley with the...

FIRS, RMAFC Form Committee to Enhance Tax Compliance    The Federal Inland Revenue Service (FIRS) and the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) have inaugurated a joint technical committee to strengthen tax revenue monitoring and boost fiscal sustainability across Nigeria’s three tiers of government. The inauguration...

$600bn Needed Annually for Africa's Energy Development - NUPRC    The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Gbenga Komolafe, has said that Africa will require more than $600bn annually in upstream oil and gas investment to meet its fast-growing energy demands. He...

TinCan Customs Generates N145bn from Lagos Port in April    The Tincan Island Port Command of the Nigeria Customs Service (NCS) has enhanced trade facilitation, as the level of compliance at the seaport has increased drastically. Already, Controller of the Command, Comptroller Frank Onyeka, said the command...

IMF Verifies Nigeria's $3.3bn Loan Repayment   The International Monetary Fund (IMF) has confirmed that Nigeria has fully repaid the $3.4bn financial support it received under the Rapid Financing Instrument to cushion the economic impacts of the COVID-19 pandemic. In a statement sent to journalists on...

Nigeria Secures Additional $215m Loan From World Bank   The World Bank has disbursed additional funds to Nigeria under the $800m National Social Safety Net Programme-Scale Up, raising the total amount released to $530m. Checks by Economic Confidential on Thursday on the World Bank’s official website...