The Board of Directors of the African Development Bank Group (AfDB) approved a $61 million financing package for the Development Bank of Nigeria (DBN) to expand access to affordable credit for women-owned and women-led businesses across Nigeria, particularly in the agricultural sector.

The financing comprises three instruments: a $50 million gender-focused line of credit; an $8 million concessional facility under the Agri-Food SME Catalytic Financing Mechanism (ACFM); and a $3 million grant under the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative, funded by the Women Entrepreneurs Finance Initiative (We-Fi).

This package demonstrates the Bank’s commitment to private sector-led growth by combining long-term financing, concessional resources, partial credit guarantees, and capacity-building support. It will be chanelled through DBN’s network of participating financial institutions to strengthen MSME lending and advance Nigeria’s inclusive economic transformation, particularly through women entrepreneurship and agricultural development.

A defining feature of this operation is its strong gender focus, with more than 95 percent of the total financing earmarked for WSMEs. This targeted approach aligns with the objectives of AFAWA and ACFM and the Bank’s broader commitment to narrowing the gender financing gap in Africa. The performance-based incentives under the AFAWA programme are expected to expand the number of eligible women-owned enterprises while increasing the share of women-focused lending within DBN’s MSME portfolio.

Commenting on the approval, Dr Abdul Kamara, Director General of the African Development Bank Group Nigeria Country Office, said: “Women entrepreneurs are one of Nigeria’s greatest economic assets and one of its most underleveraged. This operation reflects the African Development Bank’s commitment to unlocking economic opportunities for women.

“By working through DBN to reach women-owned businesses in agriculture, clean energy, healthcare, and beyond, we are not just expanding access to credit; the Bank is investing in the engine of Nigeria’s inclusive economic transformation.”

The approval further deepens a longstanding partnership between the African Development Bank and the Development Bank of Nigeria, dating back to the AfDB’s role in DBN’s establishment through start-up equity, long-term financing, and governance support, alongside the Federal Government of Nigeria and other development partners.

The operation aligns with the African Development Bank’s Four Cardinal Points framework, particularly the pillar on harnessing demographic transformation for economic development, as well as the Bank’s Ten-Year Strategy (2024-2033), which prioritises inclusive growth, private sector development, and gender equality.

It also supports Nigeria’s Country Strategy Paper (2025–2030), which emphasizes gender- and youth-inclusive green growth, and complements national priorities on entrepreneurship, inclusive development, and women’s economic empowerment.

The Nigeria Revenue Service (NRS) has announced the extension of weekend tax office operations across the country as part of preparations for the rollout of the Rev360 Phase I Tax Administration System.

In a public notice issued in Abuja on May 7, the Service stated that all Emerging, Medium, Large, and Government Business Offices nationwide will now open on Saturdays from May 8 to June 27, 2026.

According to the notice, the offices will operate between 10:00 a.m. and 3:00 p.m.

The NRS explained that the initiative is aimed at providing additional taxpayer support and improving service delivery during the implementation of the new tax administration platform for Medium and Emerging Taxpayer segments.

The Service noted that the extended Saturday operations are designed to assist taxpayers requiring guidance with the new system, facilitate seamless compliance during the June peak Companies Income Tax filing period, and improve access to tax services outside regular weekday hours.

It encouraged taxpayers to take advantage of the initiative to resolve tax-related matters, seek necessary guidance, and ensure timely compliance with their tax obligations.

“The NRS remains dedicated to delivering efficient, transparent, and taxpayer-focused services,” the statement read.

The notice was signed by Zacch Adedeji, PhD, Executive Chairman of the Nigeria Revenue Service. “You say Transformation, We say Rev360.”

The Nigeria Customs Service (NCS) and the Yakubu Gowon University have moved to formalise a strategic alliance aimed at advancing national security research, border management studies, and student welfare.

Comptroller General of Customs, Adewale Adeniyi, made this known during a visit by the University’s Vice Chancellor Professor Hakeem Fawehinmi, to the headquarters of the agency yesterday in Abuja.

Adeniyi noted that the collaboration marks a significant step in bridging the gap between paramilitary operations and academic research. “I have a long institutional history with this university,” CGC Adeniyi remarked.

He noting that previous attempts to sign a formal Memorandum of Understanding (MoU) were interrupted by leadership transitions and that the Service is now committed to a phased implementation of support, focusing on projects with the highest impact on the learning environment.

Adeniyi said “For us, beyond legacy, what matters most is impact. We understand the realities facing Nigerian universities, from transportation challenges to infrastructure gaps.

“Our interest is to support initiatives that will create a conducive learning environment and positively impact students.”

He also stressed the importance of the university in relation to its status of the nation’s capital u University. He pledged to support the institution in meeting the demands of its 40,000-strong student population.

Responding, Professor Fawehinmi highlighted the university’s Centre for Defence and Migration Studies as a critical hub for the partnership.

He suggested that the centre could provide the NCS with specialised research into national security and executive training for officers.

“Support in areas such as mass transit buses, ICT infrastructure, research facilities, and professional collaboration will significantly strengthen our capacity,” the Vice Chancellor noted, adding that as the only conventional public university in the Federal Capital Territory, the institution carries enormous responsibilities.