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Nigeria’s FEC Approves Ratification of AfCFTA Agreement

Barely two months to the operationalisation of the African Continental Free Trade Area (AfCFTA), the Nigeria’s Federal Executive Council on Wednesday approved the instruments of ratification of the Agreement. The Commerce Africa reports that ahead of the AfCFTA operationalisation scheduled for January, 2021, no fewer than thirty countries have deposited …

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Nigeria Votes US$461.9mn for Deep Seaport Construction in Bonny

Nigeria’s Federal Executive Council (FEC) has approved the construction of a deep seaport in Bonny in Rivers State, southern Nigeria. According to Transport Minister Rotimi Amaechin, the facility will be executed under a public-private partnership (PPP). It is expected to cost $461.9 million. Once completed, this platform will help boost …

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Nigeria Announces New Policy on Bitumen Production

As part of its efforts at diversification of the economy, the Nigeria’s Federal Executive Council (FEC) has approved a new policy on local production of bitumen. The Federal Executive Council (FEC) presided over by President Muhammadu Buhari on Wednesday approved a new policy on local production of bitumen to further …

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Nigerian Govt Establishes N75bn Youth Investment Fund

The Federal Government of Nigeria through the Executive Council has approved the establishment of the Nigerian Youth Investment Fund (NYIF) to the tune of N75 billion. The NYIF, also tagged ‘the Youth Bank’, would create a finance support base for creativity and innovation of Nigerian youths within the age range …

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