Tony Elumelu Foundation, UAE partner to empower 1,000 African entrepreneurs

Post AMUGEFebruary 13, 2025

Joy Agwunobi The Tony Elumelu Foundation (TEF), a leading  philanthropy committed to empowering young African entrepreneurs across all 54 African countries, has entered into a $6 million strategic partnership with the UAE Office of Development Affairs and the Khalifa Bin Zayed Al Nahyan Foundation, an affiliate of Erth Zayed. According to the foundation, the collaboration […]

FG projects N4.6trn decline in budget deficit for 2024

November 29, 2023

Business a.m The Federal Government of Nigeria has pegged the country’s budget deficit for the 2024 fiscal year at N9.18 trillion, representing a reduction of N4.60 trillion or 33.5 per cent compared to the N13.78 trillion budget for the 2023 fiscal year. President Bola Tinubu, during his first budget presentation of the proposed N27 trillion […]

Universities decry proposed 40% IGR deduction by FG

November 13, 2023

Business a.m The Committee of Vice Chancellors of Nigerian Universities, a group of the heads of all federal universities in Nigeria, has sent a letter of protest to the federal government, urging it to reverse its plan to deduct 40 per cent of the internally generated revenues (IGR) of the universities. The government’s intention to […]

Sanwo-Olu pitches for $1bn at AIF 2023 in Morocco for Lagos big projects

November 9, 2023

Phillip Isakpa in Marrakech, Morocco Governor Babajide Sanwo-Olu, head of the government of Lagos State, Africa’s fastest growing city, today in Marrakech, Morocco, at the ongoing 2023 Africa Investment Forum, made a strong pitch to investors for a raft of big ticket projects for which he needs $1 billion to finance. Appearing in the Forum’s […]

Imo’s CEA wants S-E women to embrace OKOBI for empowerment

November 6, 2023

Joy Agwunobi   There is a growing awareness among researchers and world leaders that economic empowerment of women is not only critical to the achievement of women’s rights, but also to the broader SDGs. Empowering women economically is seen as a key driver of economic growth and development, as well as a means to reduce […]

No more presidential yacht as Reps put N5bn towards student loans

November 2, 2023

Onome Amuge In a recent development, the House of Representatives removed a controversial item in the 2023 supplementary budget that would have funded the purchase of a presidential yacht, and instead allocated the N5 billion originally earmarked for the yacht to student loan. This decision comes after widespread criticism of the budget item, with many […]

Senate gives green light to N2.17trn 2023 supplementary budget

November 2, 2023

Business a.m The Nigerian Senate has approved  the N2.17 trillion 2023 Supplementary Appropriation Bill after a third reading. The bill, which was presented by the Senate President Ahmad Lawan, was read for the third time on the floor of the Senate and subsequently approved by members of the chamber  on Thursday, November 2, 2023. The […]

FEC okays N2.18trn 2023 supplementary budget

October 31, 2023

Business a.m The Federal Executive Council (FEC) has given its approval for a supplementary budget of N2.18 trillion to fund “urgent issues” in 2023. The approval was granted at the council’s weekly meeting on Monday, which was chaired by President Bola Tinubu. Abubakar Bagudu, the minister of budget and economic planning, announced the details of […]

Kano proposes N350bn as budget for 2024

October 31, 2023

Adeola Ajakaiye in Kano The administration of Governor Abba Kabir Yusuf in Kano state has presented a 2024 budget estimate of over N350 billion to the Kano State House of Assembly for consideration. Delivering the budget tagged ‘Budget of Restoration and Transformation’, Governor Yusuf disclosed that the proposal was designed to fast track the realisation […]