The Federal Executive Council has approved a 100-million-dollar loan from the African Development Bank to support the Nigeria Youth Investment Fund. Finance Minister Wale Edun says the facility targets entrepreneurs aged 18 to 35, especially those running small and medium-scale businesses.
The council also endorsed a 50-million-dollar Islamic Development Bank loan for an integrated agricultural development project in Yobe State.
Edun disclosed that President Bola Tinubu commended his cabinet for sustaining the renewed hope agenda, noting positive economic indicators. Nigeria’s GDP grew by 3.89 percent in the third quarter of 2025, inflation has begun to ease, and both agriculture and industry recorded stronger output.
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However, the president warned that the growth rate remains below his 7-percent target needed to significantly reduce poverty. He directed all ministries and agencies to prioritise capital spending on projects that create jobs and boost economic expansion.
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