The removal of fuel price subsidies and the unification of official foreign exchange windows into a single rate, among other economic reforms by President Bola Tinubu, have been commended by 42 World Trade Organization (WTO) Member countries. This commendation comes in light of Nigeria’s policy review at the WTO Trade Policy Review exercise in Geneva,…
The Nigerian stock market closed on a bearish note on Tuesday, with a loss of N69 billion, due to sell-offs in large and medium capitalised stocks. The Nigerian Exchange Ltd. (NGX) market capitalisation, which opened at N59.004 trillion, dropped by N69 billion or 0.12 per cent, closing at N58.935 trillion. Similarly, the All-Share Index (ASI)…
The Project Coordination Office of the Hydrocarbon Pollution Remediation Project (HYPREP) said it is forging ahead with its mission to restore and revitalise communities impacted by hydrocarbon pollution, with a primary focus on the Ogoniland in Rivers State. It has, however, discovered that it may be a difficult task to accomplish, if foreign countries and…
Vice President Kashim Shettima on Tuesday called for a collective effort to reform the economy, through accelerated diversification, industrialization, digitization, creative arts, manufacturing, and innovation, all of which are targeted toward sustained inclusive economic growth. This is as the vice president vowed to not relent in implementing fiscal reforms on the economic structure of the…
In a bid to achieve food security, and employment generation amongst others, the federal government has reiterated its commitment to ensure the availability of food. This it plans to do through the sustainability of high agricultural yields in the country as part of efforts to curtail the high cost of food. The development comes as…
The Chief Executive Officer of the Nigeria Export Promotion Council (NEPC), Mrs. Nonye Ayeni, says things are looking up for Nigeria in the area of export, thus bringing about hope for a balance of trade that will be favorable to the country. She said this at the third national conference on non-oil export in Abuja,…
For the Nigeria Customs Service, Area 2 Command, Onne Port in Rivers State, it was a big haul earlier in the week, when you it caught some people with 22 containers loaded with illicit drugs, including Codeine cough syrup, diclofenac, and a large quantity of donkey skin. Comptroller Mohammed Babandede disclosed this information during a…
The government must give priority to technology for its efforts at promoting food security, health, climate stability and a secured environment to yield the good results. This view was expressed by the Minister of Innovation, Science, and Technology, Chief Uche Nnaji. He was speaking in Abuja to commemorate World Science Day for Peace and Development,…
The Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, at the 15th meeting of the African Continental Free Trade Area (AfCFTA), reaffirmed Nigeria’s commitment to upholding the digital trade protocol to boost investment, export, and economic reforms. The AfCFTA Digital Protocol, enacted in February 2024, establishes a legal framework to accelerate tech-driven innovation and…
Dangote Sugar Plc and BUA Foods Plc raked in a whopping N1.025trn from sales of sugar during the third quarter of 2024. This represents a 36.23 per cent increase from the N752.383bn realised by these two food giants in the corresponding period of 2023. The surge in the revenue is attributed to inflationary pressures and…
