The Federal Government is charting new ways to improve sanitary and phytosanitary (SPS) compliance to boost non-oil exports. Focusing on sesame and cowpea produce, both critical pillars of the economy, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said both produce contribute significantly to Nigeria’s foreign exchange earnings, and provide livelihoods for thousands of […]
The Federal Government has announced plans to regularize electricity tariffs in a bid to address disparities in the current billing system as well as encourage investment in the power sector. The Minister of Power, Adebayo Adelabu, made this known at the ongoing public presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan […]
The Secretary-General of the Organization of the Petroleum Exporting Countries, Mr Haitham Al-Ghais has tasked Africa to unlock its proven oil y of over 120 billion barrels. Al-Ghais, made this known while delivering a keynote address titled “Driving Cross-Continental Investments: Scaling Africa’s Energy Frontier”, at the ongoing Nigeria International Energy Summit 2025 in Abuja, Nigeria […]
Ogun State, Nigeria’s top investment destination, is set to reap huge benefits as the world’s largest protein producer, JBS of Brazil, has indicated interest in investing $2.5 billion in the livestock subsector of the economy. Controlling Shareholder of the company, Wesley Batista, said this when officials of his firm, led by the Controlling Shareholder of […]
Nigeria’s central bank CBN is expected to hold interest rates steady at 27.5% on Thursday, pausing its aggressive tightening cycle following a sharp decline in inflation, driven by a revision in data calculation methods. A Bloomberg poll of nine economists found that seven anticipate the Central Bank of Nigeria (CBN) will maintain the current rate […]
The National Bureau of Statistics (NBS) has announced a decline in Nigeria’s headline inflation rate to 24.48% for January 2025, following the rebasing of the Consumer Price Index (CPI). This marks a decrease from December 2024’s 34.80% under the old inflation template. The CPI rebasing reflects updated consumer spending patterns, replacing outdated goods and services […]
Airtel Nigeria, the country’s second-largest telecommunications operator (Telco) has announced a significant adjustment to its data pricing structure. A check by the News Agency of Nigeria (NAN) using the *312# code and on the Airtel website showed the revised data prices. According to the telco’s website, the revision, which affects various data bundles, is aimed […]
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Asian markets were mixed Tuesday with Hong Kong resuming its tech-led rally after a meeting between President Xi Jinping and China’s top business leaders fanned hopes that a long-running crackdown on the private sector is ending. The Hang Seng Index’s gains extended an impressive start to the year, with the emergence of a new chatbot […]
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has been urged to reverse the unlawful hike in Automated Teller Machine (ATM) transaction fees with immediate effect. In an open letter dated 15 February 2025 and signed by the organisation’s deputy director, Kolawole Oluwadare, the Socio-Economic Rights and Accountability Project (SERAP) described the […]
The President of Dangote Group, Aliko Dangote, has reaffirmed the conglomerate’s commitment to ending raw sugar importation in Nigeria with an investment exceeding $700 million in sugar production. Dangote, who spoke on Wednesday during the ‘Dangote Special Day’ at the ongoing 14th Gateway International Trade Fair in Abeokuta, Ogun State, said the group is accelerating […]