. The Federal Government of Nigeria and the World Bank have solidified a new partnership aimed at tackling poverty and improving the living conditions of vulnerable Nigerians. With a fresh injection of $17 billion committed to a range of social investment programmes, the initiative marks one of the largest coordinated efforts to address poverty in…
Russia has pledged to assist the Confederation of Sahel States (CSS) in forming a joint military force, offering military consultations, weaponry, and instructors. This commitment was announced during a high-profile press conference featuring the foreign ministers of Russia and the CSS, signaling a new era of strategic cooperation between Moscow and the Sahel region. Russian…
The foreign ministers of the Confederation of Sahel States (CSS), comprising Burkina Faso, Mali, and Niger, are set to visit Moscow for the first-ever CSS-Russia consultations. This landmark meeting, scheduled for April 3-4, comes at the invitation of Russian Foreign Minister Sergey Lavrov and represents a significant step toward strengthening diplomatic and strategic ties between…
The Nigeria Sovereign Investment Authority (NSIA) has announced a record-breaking profit of ₦1.86 trillion for the 2024 financial year, marking a 59% increase from the previous year. The Authority’s total income surged to ₦1.89 trillion, while net assets nearly doubled to ₦4.35 trillion. This milestone represents the highest performance since NSIA’s establishment, signaling a new…
The World Bank has approved two new loans totaling $632 million to support key sectors in Nigeria, focusing on nutrition improvement and access to quality basic education. This development aligns with the World Bank’s ongoing efforts to assist Nigeria in achieving its broader development objectives, particularly in healthcare, education, and economic resilience. According to information…
The Confederation of Sahel States (CSS), comprising Mali, Burkina Faso, and Niger, has implemented a 0.5% tariff on imports from non-member countries to finance regional development and integration efforts. This landmark decision marks a significant step towards economic self-sufficiency for the newly formed bloc. According to an official document signed by Mali’s military leader and…
Nigeria has achieved a historic milestone in electricity generation, recording its highest-ever output of 5,801 megawatts on March 4, 2025. This achievement, confirmed by the Transmission Company of Nigeria (TCN), signals progress in the country’s power sector. But does it mean an end to the frequent power outages that have long plagued Nigerians? Nigeria’s Highest…
Nigeria has taken a significant step toward becoming a key player in the global halal market with the signing of a cooperation agreement with Saudi Arabia’s Halal Products Development Company (HPDC). The partnership aims to position Nigeria as a leading hub in the $7.7 trillion halal economy, fostering investment, technical collaboration, and market access across…
The United Kingdom has suspended direct bilateral aid to Rwanda and imposed a series of diplomatic and economic restrictions in response to allegations that the East African nation is supporting the M23 rebel group in the Democratic Republic of Congo (DRC). The decision, announced on Tuesday, February 26, marks a significant shift in UK-Rwanda relations…
Nigeria’s Gross Domestic Product (GDP) expanded by 3.84% year-on-year in real terms during the fourth quarter of 2024, marking a significant improvement over the 3.46% recorded in Q4 2023 and the third quarter of 2024. This growth was primarily driven by the robust performance of the services sector, which grew by 5.37% and contributed 57.38%…