Business
NASME, CPPE Urge Tinubu To Leverage on MSMEs To Achieve Eight-points Economic Agenda
President Bola Tinubu has been urged to take the full advantages of the Micro, Small and Medium Enterprises (MSMEs) potential to achieve his administration’s eight-points economic agenda.
Dr. Muda Yusuf , the CEO of Centre for the Promotion of Private Enterprise ( CPPE), made the call during the 4th edition of the National Association of Small and Medium Enterprises (NASME) Business Roundtable, with the theme, ‘MSMEs : The Catalyst for Nigeria’s Economic Rejuvenation and Growth’.
Dr. Yusuf, who was the guest speaker, pointed out that the role of the MSMEs fits perfectly into the eight-point agenda espoused by President Bola Tinubu which includes, among others, food security; poverty eradication; economic growth, job creation; and inclusion.
” Five of the eight-point agenda rests squarely within the MSME space.
What this implies is that for the Tinubu administration to accomplish the eight-point agenda, the government must leverage and strengthen the MSMEs across all sectors of the economy,” said Dr. Yusuf.
He said that MSMEs play critical roles in the economic growth of all economies globally.
They play even more important roles in the developing economies. In the Nigerian economy, the MSMEs deliver value as catalyst to the economy in several other ways:
• They promote competitiveness and entrepreneurship across sectors and the entire economy.
They enhance efficiency, innovation and aggregate productivity growth.
• They contribute a lot more to job creation more than large enterprises. They are largely more labour intensive and contribute immensely to poverty reduction.
• They are effective vehicles for the promotion of economic inclusion.
• Compared to large enterprises, MSMEs tend to use less capital per worker and have the capacity to use capital more productively.
• MSMEs promote entrepreneurial development and accelerate the use of local law materials.
• They are instrumental to the mobilization and utilization of small savings for investment. Some of these funds tend to exist outside the banking system.
Business
Africa’s Top Five Strongest Currencies
Tunisia continues to lead as Africa’s strongest currency. The Tunisian Dinar’s strength is largely supported by strict exchange control measures and inflation management, even amid ongoing political and economic challenges
According to the Forbes currency calculator, the following are the five strongest African currencies as of October 2026 against the US Dollar.
5. Botswana – Botswana Pula (BWP) Exchange Rate: 13.76 BWP per USD
The Botswana Pula stands out as one of Sub-Saharan Africa’s strongest currencies. Sound governance, effective fiscal policies, and a balanced reliance on diamond exports have helped maintain its strength.
4. Ghana – Ghanaian Cedi (GHS) Exchange Rate: 11.58 GHS per USD While the Ghanaian Cedi has been volatile, recent economic reforms and IMF support have introduced some stability. Government initiatives to rein in inflation and manage public debt are beginning to yield positive outcomes.
3. Morocco – Moroccan Dirham (MAD) Exchange Rate: 9.81 MAD per USD
The Moroccan Dirham benefits from the country’s stable macroeconomic policies, economic diversification, and prudent monetary governance. Morocco’s growing appeal to foreign investors, especially in renewable energy, also bolsters its currency.
2. Libya – Libyan Dinar (LYD)Exchange Rate: 6.39 LYD per USD
Despite years of political unrest, the Libyan Dinar remains notably strong. This resilience largely stems from Libya’s abundant oil reserves, which generate substantial foreign exchange revenue.
- 1. Tunisia – Tunisian Dinar (TND)Exchange Rate: 2.98 TND per USD
- Tunisia continues to lead as Africa’s strongest currency. The Tunisian Dinar’s strength is largely supported by strict exchange control measures and inflation management, even amid ongoing political and economic challenges
PARALLEL MARKET RATES
₦1382 DOLLAR (USD)
₦1815POUND (GBP)
₦1515EURO (EUR)
₦970DOLLAR (CAD)
₦65RAND (ZAR)
₦350DIRHAM (AED)
₦190YUAN (CNY)
₦100G.CEDI (GHS)
₦2300CFA F.(XOF)
₦2200CFA F.(XAF)
₦850AUSSIE (AUD)
OFFICIAL CBN EXCHANGE RATES
DOLLAR (USD)₦1346.26
POUND (GBP)₦1803.58
EURO (EUR)₦1503.23
SWISS FRANC (CHF)₦1634.20
JAPANESE YEN (JPN)₦8.56
CFA FRANC (XOF)₦2.28
WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1821.09
CHINESE YUAN (CNY)₦202.35
SAUDI RIYAL (SAR)₦358.71
SOUTH AFRICAN RAND (ZAR)₦80.67
Business
African Energy Bank Headquarters Operation in Nigeria
The $5bn financial institution is designed to fund oil, gas and other energy projects across Africa as traditional international lenders reduce financing for fossil fuel investments.
Pic:L-R: Sen. Heineken Lokpobiri, Hon. Minister for State Petroleum Resources (Oil), Federal Government of Nigeria, Dr. George Elombi, President and Chairman of the Board of Directors at Afreximbank and Hon Mamadou Sangafowa-Coulibaly, Minister of Mines, Petroleum and Energy of Côte d’Ivoire during the first General Meeting of the Africa Energy Bank in Abuja, Nigeria.
African Export-Import Bank and the African Petroleum Producers’ Organisation have formally announced the establishment of the Africa Energy Bank (AEB).
The $5bn financial institution is designed to fund oil, gas and other energy projects across Africa as traditional international lenders reduce financing for fossil fuel investments.
The announcement was made during the AEB’s inaugural general meeting held in Abuja, Nigeria, on 31 October 2026.
The bank will provide financing for petroleum exploration, production, transportation, refining and distribution, while supporting Africa’s efforts to reduce dependence on imported petroleum products.
Afreximbank and APPO estimated the continent’s energy investment requirements at `$200bn, indicating a substantial funding gap that the new institution is expected to help address.
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