Tag: #NigeriaEconomy
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LAGOS PORTS BUZZING WITH 20 SHIPS UNLOADING ESSENTIAL GOODS
The Nigerian Ports Authority (NPA) has announced that 20 ships are currently discharging petroleum products and food items at Lagos ports including Apapa, Tincan, and Lekki. Cargo ranges from frozen fish and petrol to bulk sugar, fertilizers like urea, and construction materials such as gypsum. Additionally, two ships carrying bulk wheat and containers have arrived…
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NIGERIA TAKES STRONG STEP WITH 15% TAX ON IMPORTED PETROL AND DIESEL TO BOOST LOCAL REFINING
Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has praised the Federal Government’s decision to impose a 15% import tax on petrol and diesel, calling it a move that will grow the economy, promote local production, and create jobs for youth. ECCIMA President Sir Odeiga Jideonwo highlighted the negative impact of excessive importation on…
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NAIRA SHINES BRIGHTER, GAINING N15 AS IT CLOSES STRONGER AT 1,421.73 TO DOLLAR
The Naira extended its winning streak on Friday, ending the trading week stronger at N1,421.73 per dollar in the official foreign exchange market, according to data from the Central Bank of Nigeria (CBN). This marks a 1.07% or N15.23 appreciation from N1,436.97 recorded earlier in the week, continuing a steady upward trend that began Monday.…
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NIGERIAN STOCK MARKET BOUNCES BACK WITH N285 BILLION GAIN ON FRIDAY
The Nigerian stock market ended a four-day losing streak on a high note Friday, adding N285 billion to investors’ portfolios. Renewed interest in key stocks like Julius Berger, Learn Africa, Cornerstone Insurance, Aso Savings, and Ikeja Hotel boosted market sentiment and pushed the All-Share Index up by 449.80 points to close at 154,126.46. The market…
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NEW NIGERIAN TAX REGIME TO LIGHTEN BURDEN ON YOUTHS AND SMALL BUSINESSES
Good news for Nigerians: starting January 1, 2026, the new tax system introduced by President Bola Tinubu’s administration is set to ease the tax burden on the majority of people, especially the youth and small business owners. Dr. Tope Fasua, the President’s Economic Adviser, revealed during the Youth National Discourse in Abuja that those earning…
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NIGERIAN ENGINEERS PUSH FOR STRONGER LOCAL CONTENT POLICIES TO BOOST ECONOMY
The Nigerian Society of Engineers (NSE) is calling for a more aggressive push on local content policies to help grow the economy, create jobs, and speed up industrialization. This was the main message at the 2025 Annual Workshop of the Nigerian Content Development Committee (NCDC) in Abuja. Under the theme “Strengthening Nigeria’s Domestic Business Development:…
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NIGERIA URGED TO BUILD A RESILIENT AND INCLUSIVE SHEA INDUSTRY TO BOOST ECONOMY
Nnanyelugo Ike-Muonso, Director-General of the Raw Materials Research and Development Council (RMRDC), stressed the urgent need for Nigeria to develop a competitive and inclusive Shea industry to strengthen the national economy. Speaking at an investors’ forum in Ibadan, he highlighted the potential of the Shea sector to create jobs, empower women, generate significant export revenue,…
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NAIRA APPRECIATES TO ₦1,452.79 AGAINST THE DOLLAR AS ECONOMIC CONFIDENCE GROWS
The Nigerian Naira continued its positive run on Monday, appreciating by ₦5.16 to trade at ₦1,452.79 to the dollar at the official foreign exchange market, according to the Central Bank of Nigeria (CBN). This marks a 0.35% gain from Friday’s rate of ₦1,457.95, extending the weeklong upward trend. The Association of Bureau De Change Operators…
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TUNISIAN AMBASSADOR PLEDGES STRONGER ECONOMIC TIES WITH NIGERIA TO BOOST TRADE
Tunisia is ready to team up with Nigeria across sectors like agriculture, finance, and energy to unlock new trade and growth opportunities. At the Ndigboamaka Progressive Markets Association Conference in Lagos, Ambassador Mohsen Antit promised Tunisia’s commitment to deepen partnerships with Nigeria. He highlighted readiness to collaborate on agriculture, banking, mining, oil and gas, aviation,…
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MINISTER DEMANDS CLOSURE OF SCHOOLS CHARGING TUITION IN FOREIGN CURRENCY
Charging tuition fees in dollars or pounds? Nigeria’s Minister of Solid Minerals wants such schools shut down, calling the practice a major threat to the economy. At the Nigeria Gold Day Celebration during the 10th Nigeria Mining Week in Abuja, Minister Dr. Dele Alake condemned schools that charge fees in foreign currency. He called it…
