Economy
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Germany pledges stronger economic, academic, cultural ties with Nigeria
The new Consul General of Germany in Lagos, Mr. Daniel Krull, has pledged stronger cooperation between Germany and Nigeria across economic, cultural, and academic sectors. Krull, who assumed office in August, made the pledge during a news conference at the German Consulate in Lagos on Monday. He described Lagos as Nigeria’s economic powerhouse and said he felt well-prepared for his…
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Nigerian assets slide after Trump threatens military strike
Nigeria’s dollar bonds took a beating on Monday after U.S. President Donald Trump threatened military action against the country over what he called the government’s failure to stop the killing of Christians by Islamist militants. According to a report by Business Insider, the sell-off hit across maturities, with all 10 of the day’s worst-performing emerging-market bonds from Nigeria, according to…
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5 top Nigerian banks declare 10% drop in profit to N3.58trn
A total of five leading Nigerian banks declared N3.58trillion profit before tax in nine months ended September 2025, about 10 per cent drop when compared to N3.99 trillion declared in nine months of 2024. The five banks are: Zenith Bank Plc, Access Holdings Plc, United Bank for Africa Plc (UBA), First Holdco Plc and Guaranty Trust Holding Company Plc (GTCO).…
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Nigeria’s economy on path to recovery — Senator Fadahunsi
By Deborah Oladejo, Osogbo – The Senator representing Osun East Senatorial District, Senator Francis Fadahunsi, has said that Nigeria’s economy is on the path to recovery under President Bola Tinubu’s administration. Speaking with newsmen in his hometown, Ilase-Ijesa, on Sunday, Fadahunsi said the government’s economic policies are beginning to yield results, noting that though challenges remain, the situation is improving.…
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Africa’s rising debt to China undermines future cooperation, says Tunde Rahman
By Kunle Sanni – Tunde Rahman, Senior Assistant to President Bola Tinubu on Media and Special Duties, has said that the huge debt Africa owes China poses a major challenge to sustainable development and the future of China-Africa cooperation. Speaking at the Nigeria Session on China’s Newest Development Plan and the Future of China-Africa Cooperation held on Friday at the…
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Dangote Refinery supports FG’s 15% tariff, guarantees consistent PMS, Diesel supply
The Dangote Petroleum Refinery has endorsed the government’s new 15per cent tariff on imported fuel, calling it a “good start” and labeling criticism of the policy “unpatriotic.” In a statement, the refinery simultaneously assured the public of a steady, uninterrupted fuel supply, noting its production capacity now exceeds national demand. Group Chief Branding and Communications Officer for Dangote Industries Limited,…
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EU leaders commend Nigeria’s economic reforms, advocate deeper cooperation
The European Union has commended Nigeria’s economic reforms and reaffirmed its commitment to deepening cooperation in trade, investment, and sustainable development. The statement followed a courtesy visit on Wednesday by a delegation of the European Parliamentary Committee on Foreign Affairs, led by Mr. David McAllister, alongside the European Union Ambassador to Nigeria and ECOWAS, Ambassador Gautier Mignot, to the Ministry…
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Presidency defends fuel import duty amid criticism, highlights benefits for local industry
By Kunle Sanni – The Presidency has justified the recently approved 15 per cent import duty on refined petroleum products, describing it as a strategic step toward transforming Nigeria’s energy sector. Presidential spokesperson Sunday Dare, in a statement on Friday, said President Bola Tinubu’s approval of the new import levy was “a bold and visionary decision aimed at reshaping Nigeria’s…
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Nigeria, EU sign landmark health agreements to boost local manufacturing, strengthen healthcare access
The Federal Government and the European Union (EU) signed three landmark agreements on Thursday to boost investment in local pharmaceutical manufacturing, broaden vaccine access, and strengthen reproductive health systems across West Africa. Speaking at the Nigeria–EU Health Investment Forum and Signing Ceremony in Abuja, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, stated that the partnership represents “a…
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Tinubu applauds Ogun’s industrial growth, digital infrastructure drive
President Bola Ahmed Tinubu has reaffirmed Ogun State’s position as Nigeria’s leading industrial hub, describing it as the most dynamic industrial belt powering the nation’s economic growth. Tinubu stated this on Wednesday at the commissioning of Phase Two of the Fibre Optic Factory of Coleman Wires and Cables and the 50th anniversary celebration of the company, held at the Coleman…
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