Economy
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Adeniyi urges faster integration, outlines measures to reposition African exporters
• Lauds Afreximbank’s PAPSS Bolaji Adebiyi, in Algiers Ongoing tariff wars and protectionist policies have made it necessary for Africa to accelerate its integration, according to Comptroller-General of the Nigeria Customs Service, Mr Bashir Adewale Adeniyi. He spoke at the 4th Intra-African Trade Fair, which was entering its third day in Algiers, Algeria, and praised the Afreximbank, one of the…
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NMDPRA dismisses subsidy claims, attributes CNG price surge to market forces
By Kunle Sanni – The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that there are no subsidies in the country’s oil and gas sector, insisting that Nigeria operates a fully deregulated market. The Director of Public Affairs at NMDPRA, George Ene-Ita, disclosed this to the News Agency of Nigeria (NAN) in Abuja on Friday while reacting to…
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Unregulated crypto poses national security threat, EFCC cautions
The Economic and Financial Crimes Commission (EFCC) has warned that unregulated cryptocurrency transactions could pose serious risks to Nigeria’s national security, stressing the urgent need for a clear regulatory framework to govern the sector. EFCC Chairman Ola Olukoyede issued the caution in Abuja on Wednesday during a courtesy visit by the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), led…
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Fuel tax activation to follow economic, social considerations, says FG
The Federal Government of Nigeria has clarified that the proposed 5% fuel tax will not take effect in January 2026, offering reassurance after days of public debate over the levy’s timing and purpose. In a recent statement shared by Nairametrics, Taiwo Oyedele, Chairman of the Presidential Tax Reform Committee, described recent reports suggesting an imminent rollout as “false and misleading.”…
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FMACTCE, NSC sign MoU to establish National Arts and Sports Innovation Hub
The Federal Ministry of Art, Culture, Tourism and the Creative Economy (FMACTCE) and the National Sports Commission (NSC) have signed a Memorandum of Understanding (MoU) to develop a National Arts, Cultural, Creative, Tourism and Sports Innovation Hub at the Moshood Abiola National Stadium precinct in Abuja. The MoU, signed on Thursday, aims to leverage Nigeria’s creative, cultural, and sports sectors…
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FG to drive MSME, manufacturers financing with NCGC initiatives
In a bid to boost economic growth and development, the Federal Government has reiterated its commitment to expanding access to finance for Micro, Small, and Medium Enterprises (MSMEs), manufacturers, and individuals, which are key drivers of economic resilience and job creation in the country. The Minister of State for Finance, Dr. Doris Uzoka-Anite gave the assurance on Thursday in her…
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Over 4,700 mining licences revoked as FG moves to sanitise sector
By Kunle Sanni – The Federal Government has revoked 4,709 mining licences as part of a major clean-up of the solid minerals sector, aimed at curbing fraud and creating space for genuine investors. Director-General of the Mining Cadastre Office (MCO), Obadiah Nkom, disclosed this on Thursday during a live conversation on X (formerly Twitter) titled “A Deep Dive into the…
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Standard Bank projects Naira at N1,585.5/$1 by end of 2025
Standard Bank has adjusted its medium-term outlook on the Nigerian naira, projecting a 3.1per cent depreciation against the US dollar in 2025, but at a stronger level than previously forecast. In its latest projection, the bank expects the naira to close 2025 at N1,585.5/$1, compared to its earlier forecast of N1,697.5/$1. The revision follows new market evidence and developments in…
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FG, stakeholders partner to validate new policy for Nigeria’s industrial growth
By Kunle Sanni – The Federal Ministry of Industry, Trade and Investment, in partnership with the United Nations Industrial Development Organization (UNIDO) and key stakeholders from the organised private sector, has held a technical session in Abuja to validate the draft National Industrial Policy (NIP). The session brought together representatives of the Manufacturers Association of Nigeria (MAN), Nigerian Association of…
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Obasanjo praises Oramah as intra-African trade begins in Algiers
Bolaji Adebiyi, in Algiers Former president of Nigeria, Chief Olusegun Obasanjo, praised the outgoing President of Africa Export-Import Bank, Prof Benedict Oramah, on Thursday, as the 4th edition of the Intra-African Trade Fair commenced in Algiers, the capital city of Algeria. Obasanjo stated that Oramah’s ten years at the helm of the continental bank were exceptional and immeasurable, emphasising that…
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