The National Economic Council (NEC) has approved the nationwide deployment of solar-powered irrigation pumps developed by the National Agency for Science and Engineering Infrastructure (NASENI). The move is set to provide farmers, agribusinesses, and ru… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader NEC approves solar irrigation pumps to boost SMEs in agriculture By Abimbola Akomolafe on September 23, 2025 The National Economic Council (NEC) has approved the nationwide deployment of solar-powered irrigation pumps developed by the National Agency for Science and Engineering Infrastructure (NASENI). The move is set to provide farmers, agribusinesses, and rural SMEs with affordable, energy-efficient alternatives to petrol-powered irrigation systems. For years, high fuel costs and unreliable access to electricity have limited the ability of smallholder farmers and agricultural SMEs to expand. With the introduction of NASENI's solar pumps, stakeholders can now cut operational expenses, improve productivity, and increase yields. The technology will also serve as a reliable backup power source for households and businesses in rural areas. Read also, NEC approves solar irrigation pumps to boost SMEs in agriculture CBN cuts interest rate to 27% as disinflation spurs growth push ECOWAS pushes digital trade systems to boost regional integration Nigeria can surpass U.S. economy by harnessing youth talent – Shettima FG orders swift payment to agro-dealers as AfDB releases N30bn for farmers Equipped with GPS tracking, mobile dashboards, usage monitoring, and pay-as-you-go integration, the pumps are designed to meet modern farming needs while supporting financial inclusion. Beyond agriculture, experts believe the innovation could open up new SME opportunities in installation, servicing, and distribution, creating jobs across the value chain. Mr. Khalil Suleiman Halilu, NASENI's Executive Vice Chairman/CEO, described the approval as "a strong vote of confidence in homegrown innovation that will lower costs for farmers, secure livelihoods, and contribute to food security."

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The Central Bank of Nigeria's Monetary Policy Committee (MPC) has lowered the benchmark interest rate by 50 basis points, from 27.5% in July to 27%, at its 302nd meeting held September 22–23, 2025.CBN Governor Olayemi Cardoso said the move reflects … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader CBN cuts interest rate to 27% as disinflation spurs growth push By Busola Bamidele on September 23, 2025 The Central Bank of Nigeria's Monetary Policy Committee (MPC) has lowered the benchmark interest rate by 50 basis points, from 27.5% in July to 27%, at its 302nd meeting held September 22–23, 2025. CBN Governor Olayemi Cardoso said the move reflects five consecutive months of disinflation, projections of lower inflation for the rest of the year, and the need to stimulate economic growth. Cash Reserve Requirement (CRR): Reduced to 45% for commercial banks, retained at 16% for merchant banks, and a new 75% CRR on non-TSA public sector deposits for liquidity control.Maintained at 30%.. Read also: CBN cuts interest rate to 27% as disinflation spurs growth push ECOWAS pushes digital trade systems to boost regional integration Nigeria can surpass U.S. economy by harnessing youth talent – Shettima FG orders swift payment to agro-dealers as AfDB releases N30bn for farmers China,Tanzania agribusiness pact boosts farmers, food security The MPC noted Nigeria's improving macroeconomic indicators, citing sustained disinflation, stronger GDP growth, a stable exchange rate, and healthier external reserves. Nigeria's economy expanded by 4.23% year-on-year in Q2 2025, up from 3.48% in Q2 2024. Industry led with 7.45% growth, while agriculture and services grew 2.82% and 3.94% respectively. Nominal GDP rose to N100.73 trillion, a 19.23% increase from N84.48 trillion a year earlier.

SMALL BUSINESS INSIGHTS © 2025. Unsubscribe or manage your email subscriptions. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110

The ECOWAS Trade Liberalization Scheme (ETLS), first introduced in 1979, now covers manufactured goods but still faces hurdles such as non-tariff barriers, complex paperwork, and uneven adoption by member states.Member nations recently met in Accra to … Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader ECOWAS pushes digital trade systems to boost regional integration By Busola Bamidele on September 23, 2025 The ECOWAS Trade Liberalization Scheme (ETLS), first introduced in 1979, now covers manufactured goods but still faces hurdles such as non-tariff barriers, complex paperwork, and uneven adoption by member states. Member nations recently met in Accra to address these bottlenecks, agreeing to upgrade the ETLS website and improve communication between national focal points. Read also ECOWAS pushes digital trade systems to boost regional integration Nigeria can surpass U.S. economy by harnessing youth talent – Shettima FG orders swift payment to agro-dealers as AfDB releases N30bn for farmers China,Tanzania agribusiness pact boosts farmers, food security Nigeria's rising reserves signal fresh opportunities for SMEs Officials say these reforms are key to unlocking opportunities within the $4 trillion African Continental Free Trade Area. For SMEs, the digital shift promises faster approvals, lower costs, and easier access to regional markets—if awareness campaigns and consistent implementation follow. ECOWAS has begun rolling out digital certification tools to strengthen cross-border trade, launching an electronic certificate of origin in November 2024 to curb fraud and simplify trade documentation.

SMALL BUSINESS INSIGHTS © 2025. Unsubscribe or manage your email subscriptions. Get the Jetpack app Subscribe, bookmark, and get real‑time notifications - all from one app! Automattic, Inc. 60 29th St. #343, San Francisco, CA 94110