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Nigeria is rolling out a ₦1 billion MSME grant programme, with applications opening April 7, in a strategic push to strengthen small business growth and job creation. The initiative marks a shift from asset-based rewards to direct funding, aiming to improve access to working capital, support innovation across sectors, and expand opportunities for entrepreneurs nationwide.
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Nigeria Launches ₦1bn MSME Grant Programme, Applications Open April 7
The Federal Government of Nigeria has announced the opening of applications for over ₦1 billion in grants targeted at Micro, Small and Medium Enterprises (MSMEs), with submissions scheduled from April 7 to May 7, 2026. The initiative, part of the National MSME Awards, aims to provide direct financial support to businesses and strengthen job creation across key sectors of the economy..
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NASS Expands 2026 Budget to ₦68.3tn, Boosts Capital and RMAFC Funding
Nigeria’s National Assembly of Nigeria has approved a ₦68.323 trillion 2026 Appropriation Bill, marking a significant increase from the ₦58.47 trillion initially proposed by the Federal Government of Nigeria. The revised budget prioritises infrastructure, debt servicing, and institutional funding, including an increased allocation to the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC)
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Africa Loses $88bn Annually to Illicit Financial Flows, Edun Warns
Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, has warned that Africa loses more than $88 billion annually to illicit financial flows (IFFs). Speaking in Abuja at a high-level African Union meeting, he called for urgent, coordinated action to curb capital flight and strengthen domestic resource mobilisation across the continent.
FCT Partners Finland on Smart City, Infrastructure, and Agriculture Development
The Federal Capital Territory Administration (FCTA) has announced plans to partner with Finland on infrastructure development, agriculture, and smart city initiatives in Abuja. The collaboration, disclosed by Nyesom Wike during a meeting with Finland’s ambassador, aims to strengthen urban development and support the capital’s rapid expansion.
Over 10,000 Traders Affected as Anambra Govt Demolishes Onitsha Market Shop
Thousands of traders at Onitsha Main Market have suffered significant losses following a large-scale demolition exercise carried out by the Anambra State Government. The operation, which affected an estimated 10,000 traders, saw bulldozers raze multiple shop lines, leaving business owners stranded and raising concerns over economic disruption and policy execution
Quote of the day:
“In real estate, value is not in the introduction, but in the execution. This ruling reinforces that distinction.”
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