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Category: Business and Economy

LCCI: Drastic action needed to reduce Nigeria’s value, cost of public borrowing
Business and Economy

LCCI: Drastic action needed to reduce Nigeria’s value, cost of public borrowing

The Lagos Chamber of Commerce and Industry (LCCI) has called for drastic actions to reduce Nigeria’s value and cost of public borrowing. The LCCI stated these yesterday in a public…

IMF Warns Countries to Guard Against Rising Public Debts
Business and Economy

IMF Warns Countries to Guard Against Rising Public Debts

The IMF has sounded a warning to all countries over the surging public debts. This warning was issued on Wednesday by the Director, IMF Fiscal Affairs Department, Mr. Victor Gaspar.…

Africa: IMF Fears Reversal of Strong Policy Actions
Business and Economy

Africa: IMF Fears Reversal of Strong Policy Actions

The International Monetary Fund (IMF) has expressed fear that the strong policy actions that have been taken by governments in Africa to bring down inflation, stabilize public debt, and reduce…

Expert: Trump Wants to Dismantle WTO
Business and Economy

Expert: Trump Wants to Dismantle WTO

A Professor of Economics and former Member of the Monetary Policy Committee of the Central Bank of Nigeria, Professor Mike Idi Obadan, has stated that the current tariff war, which…

Report: Manufacturing Investment Fell by 35. Percent in 2024
Business and Economy

Report: Manufacturing Investment Fell by 35. Percent in 2024

The Manufacturers Association of Nigeria (MAN) in its “MAN Economic Review Second Half 2024,” has said that real manufacturing investment fell by 35.3 percent year-on-year to N658.81 billion in 2024.…

CPPE Kicks Against RMRDC’s Bill on 30% Processing of Local Raw Materials Before Export
Business and Economy

CPPE Kicks Against RMRDC’s Bill on 30% Processing of Local Raw Materials Before Export

The Centre for the Promotion of Private Enterprise (CPPE) has kicked against the Raw Materials Research and Development Council (RMRDC) Bill currently before the National Assembly, which proposed that no…

NIIA Report: U S. Tariff Hike to Disadvantage SME Exporters, Hit Nigeria’s Macro-Economic Stability
Business and Economy

NIIA Report: U S. Tariff Hike to Disadvantage SME Exporters, Hit Nigeria’s Macro-Economic Stability

A report by the Nigerian Institute of International Affair (NIIA) has declared that the hike in tariffs by the United States of America would hit Nigerian agricultural and manufacturing SMEs…

LCCI: U.S. Tariff War Threatens Nigeria’s N323.96 billon non-oil, non-energy exports to USA
Business and Economy

LCCI: U.S. Tariff War Threatens Nigeria’s N323.96 billon non-oil, non-energy exports to USA

The Lagos Chamber of Commerce and Industry (LCCI) has said that the ongoing trade war between the United States of America and the rest of threat to Nigeria’s N323.96 billion…

Nigeria Charts Path to Transitioning to Less Carbon Economy
Business and Economy

Nigeria Charts Path to Transitioning to Less Carbon Economy

Nigeria is demonstrating commitment to addressing climate change, promoting sustainable economic growth by encouraging the development of a Just Transition Guidelines for the country in line with Paris Agreement. This…

MAN: U.S. Tariff Hike Will Undermine Nigeria’s Industrialisation, Wipe Out N2trn from Nigeria’ Agricultural Exports
Business and Economy

MAN: U.S. Tariff Hike Will Undermine Nigeria’s Industrialisation, Wipe Out N2trn from Nigeria’ Agricultural Exports

… Wipe Out N2trn from Nigeria’ Agricultural Exports The Manufacturers Association of Nigeria (MAN) has stated that the 14 per cent tariff imposed on Nigerian exports to the United States…

Nigeria Signs ECOWAS Tariff Offer to Advance AfCFTA’s Implementation
Business and Economy

Nigeria Signs ECOWAS Tariff Offer to Advance AfCFTA’s Implementation

Nigeria has officially gazetted and transmitted to the African Continental Free Trade Area (AfCFTA) Secretariat the Economic Community of West Africa (ECOWAS) Schedule of Tariff Offers for Trade in Goods…

FG Partners BoI to Revive Nigerian Cotton, Textile, Garment Sector
Business and Economy

FG Partners BoI to Revive Nigerian Cotton, Textile, Garment Sector

The Minister of State for Industry, Senator John Enoh, announced on Wednesday that the federal government is partnering with the Bank of Industry (BoI) and other stakeholders to revive the…

Dozie was Passionate about Private Sector’s Role in Economic Development
Business and Economy

Dozie was Passionate about Private Sector’s Role in Economic Development

The Chief Executive Officer of BIC Consultancy Limited, Dr. Boniface Chizea, has remembered Dr. Paschal Dozie, who passed away yesterday as a Nigerian who was passionate about the role of…

IMF: United States Tariffs Represents Significant Risk to Global Economic Outlook
Business and Economy

IMF: United States Tariffs Represents Significant Risk to Global Economic Outlook

The Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, has described the tariffs announced by President Donald Trump of the United States of America as posing significant…

Trump’s new tariff on Nigerian exports will disrupt trade relations, says FG
Business and Economy

Trump’s new tariff on Nigerian exports will disrupt trade relations, says FG

From Isaac Samuel The Federal Government has expressed concern over the newly imposed 14 per cent tariff by US President Donald Trump on Nigerian exports, warning that the move could…

CPPE: Trump’s Trade War May Cause Slump in Oil Price, Harm Nigeria’s External Reserves
Business and Economy

CPPE: Trump’s Trade War May Cause Slump in Oil Price, Harm Nigeria’s External Reserves

The Centre for the Promotion of Private Enterprise (CPPE) has stated that the ongoing trade war being championed by President Donald Trump of the United States of America, might cause…

What the new U.S.14% tariff on Nigerian exports means
Business and Economy

What the new U.S.14% tariff on Nigerian exports means

By Isaac Samuel On Wednesday, U.S. President Donald Trump announced a 14 per cent tariff on exports from Nigeria to the United States as part of a larger protectionist trade…

NB Plc Records N1.1trn Revenue, Grew Operating Profit by 59% in 2024
Business and Economy

NB Plc Records N1.1trn Revenue, Grew Operating Profit by 59% in 2024

The Nigerian Breweries Plc recorded ahistoric N1.1 trillion group revenue in 2024 financial year, which is an outstanding 81 per cent year-on-year growth. The NB also grew its operating profit…

PMI Report: Private Sector Records Increase in Output, New Orders as Inflation Pressure Wanes
Business and Economy

PMI Report: Private Sector Records Increase in Output, New Orders as Inflation Pressure Wanes

The Nigerian private sector recorded strengthened productivity in March as output, new orders and employment all increased to greater degrees than in February. This was disclosed by the Stanbic IBTC…

NECA Commends FG for Appointment of Substantive NHIA’s Chairman
Business and Economy

NECA Commends FG for Appointment of Substantive NHIA’s Chairman

The Nigeria Employers’ Consultative Association (NECA) has commended the Federal Government for the appointment of a substantive Chairman for the National Health Insurance Authority (NHIA). Speaking in Lagos, the Director…

CPPE Warns against Plan to Ban Import of Solar Panel
Business and Economy

CPPE Warns against Plan to Ban Import of Solar Panel

The Centre for the Promotion of Private Enterprise [CPPE] has advised the federal government to shelve its plan to ban the importation of solar panel into Nigeria. The CPPE gave…

World Bank Loan: LCCI Tells FG to Address Electricity Supply, High Energy Cost
Business and Economy

World Bank Loan: LCCI Tells FG to Address Electricity Supply, High Energy Cost

The Lagos Chamber of Commerce and Industry (LCCI) has expressed concern over the recently approved 4500 million World Bank’s loan for Nigeria and told the federal government to focus on…

FX Gains, Infrastructure Boost NSIA’s Profit To N1.86trn
Business and Economy

FX Gains, Infrastructure Boost NSIA’s Profit To N1.86trn

By Abubakar Y Ojima-Ojo The operating profit of the Nigeria Sovereign Investment Authority (NSIA) increased to N1.86 trillion, according to the organisation’s 2024 financial results. Announcing its fiscal performance in…

Fuel Subsidy Removal Triggers Economic Shifts In Nigeria, Expert Says
Business and Economy

Fuel Subsidy Removal Triggers Economic Shifts In Nigeria, Expert Says

By Abubakar Y. Ojima-Ojo The removal of fuel subsidies in Nigeria has unleashed profound economic consequences, both positive and negative, according to energy expert Dr Ayodele Oni. Speaking in an…

LAWMA MD: Circular Economy Offers Prospect of .5b Revenue to Lagos State
Business and Economy

LAWMA MD: Circular Economy Offers Prospect of $2.5b Revenue to Lagos State

The Managing Director/Chief Executive Officer of Lagos Waste Management Authority (LAWMA), Dr. Muyiwa Gbadegesin, has revealed that a well-structured circular economy could fetch $2.5 billion annually for Lagos State Government.…

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