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The Nigeria Youth Investment Fund is a N75 billion government initiative designed to boost the Nigerian economy through leverage and access to finance for young people between the ages of 18 and 35. The fund hopes to serve as a catalyst to unleash the potential of the youth and enable many of them to build businesses that will create jobs and improve the country’s ailing economy. The scheme is part of the N2.3 trillion stimulus…
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The Dangote oil refinery is an ambitious project being undertaken by Africa’s richest man Aliko Dangote. when complete, the refinery will have the single biggest impact on Nigeria’s economy as it is expected to be a lasting solution to the country’s heavy dependence on the importation of petroleum products for domestic consumption. Earlier in November, Nigeria slipped into economic recession and experts believe the main cause is the fact that the country has had to…
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The Survival Fund is a scheme created by the federal government of Nigeria to provide support to over half a million medium and small-scale enterprises MSMEs in meeting their payroll objectives. The scheme became important in light of the economic devastation caused by the coronavirus pandemic – thus, providing support to vulnerable MSMEs in meeting payroll obligations of between N30,000 andN50,000 per employee per month to safeguard the jobs of up to 10 employees…
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Afrobeats artistes like Davido, Wizkid, Burnaboy and Sarkodie are despite all challenges making a lot of money from their craft. In recent years, Afrobeats – a form of African music developed mainly in West Africa has gone global, this type of music can be heard blaring on radio stations, airports, and supermarkets around the world. In times past, the major obstacle facing the music industry in Africa was piracy. In Nigeria, the birth country…
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The Eko Atlantic city project in Lagos has been under construction since 2005. The project is an ambitious plan to develop a new city off the coast of Victoria Island on 10 square kilometers of land reclaimed from the Atlantic Ocean. When completed, the city will serve as a regional hub for banking, tourism, luxury real estate, services and is also projected to contribute about $1 billion to Nigeria’s GDP. “When it matures it…