Economy
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Trump’s tariffs, global oil instability hurting Nigeria’s economy – NMDPRA chief
By Kunle Sanni Global oil market volatility and aggressive U.S. trade policies are taking a toll on Nigeria’s economy, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has warned. Speaking at the State House in Abuja on Tuesday, Ahmed said fluctuating crude oil prices—driven in part by former U.S. President Donald Trump’s…
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Petrol imports drop by 67% as local production rises — NMDPRA
By Kunle Sanni Nigeria’s petrol imports have plunged by 67% over the past eight months, dropping from 44.6 million litres per day in August 2024 to just 14.7 million litres as of April 13, 2025. This is according to the latest supply data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The Chief Executive Officer of the NMDPRA,…
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BREAKING: Nigeria’s Inflation rate rises to 24.23% in March, says NBS
The National Bureau of Statistics (NBS) on Tuesday said Nigeria’s headline inflation increased by 105basis points to 24.23 per cent in March 2025 from 23.18 per cent in February 2025. The reported 24.23 per cent is based on the rebased Consumer Price Index (CPI) by NBS. According NBS, on a month-on-month basis, inflation rate increased to 3.90per cent in March…
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Nigeria, Tunisia set to strengthen tourism, economic ties
Nigeria and Tunisia are set to strengthen bilateral relations in culture, tourism, and economic cooperation, following a high-level meeting between both countries’ representatives in Abuja on Monday. The Tunisian Ambassador to Nigeria, His Excellency Moshen Antit, made this known during a courtesy visit to the Minister of Art, Culture, Tourism, and Creative Economy, Barrister Hannatu Musa Musawa. Ambassador Antit expressed…
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Nigeria gazettes ECOWAS tariff to strengthen AfCFTA ahead of summit
By Kunle Sanni Nigeria has officially gazetted and submitted the ECOWAS Schedule of Tariff Offers for Trade in Goods under the African Continental Free Trade Area (AfCFTA) to the AfCFTA Secretariat—marking a major milestone in the country’s drive toward regional trade integration. The move precedes the 16th AfCFTA Council of Ministers meeting, scheduled for April 15 in Kinshasa, Democratic Republic…
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Nigeria targets top 80 spot in Global Human Capital Index by 2030
…as VP Shettima launches initiative in Akwa Ibom By Kunle Sanni The federal government has reaffirmed its ambition to position Nigeria among the top 80 countries on the Global Human Capital Index (HCI) by 2030, with Vice President Kashim Shettima emphasizing the need for grassroots implementation and data-driven reforms to strengthen education, health, and workforce productivity. Speaking on Monday in…
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Adebayo to speak at GWU’s conference on tech, trade prospects
The leader of the Social Democratic Party (SDP) and 2023 presidential candidate of the party, Prince Adewole Adebayo will join other world leaders to speak at a conference organised by the School of Business, George Washington University (GWU) in the United States of America. The invitation to participate at the conference as a speaker was extended to Adebayo by the…
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Nigeria, China pledge commitment to strengthen bilateral ties
Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, has reaffirmed the country’s commitment to strengthening its longstanding relationship with the People’s Republic of China. Speaking during a high-level meeting in Abuja, Ambassador Tuggar hosted His Excellency Hu Chunhua, Vice Chairman of the Chinese People’s Political Consultative Conference, to discuss ways of deepening cooperation across key strategic sectors. The meeting highlighted…
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US tariffs could propel intra-African trade, mineral value addition – Minister Alake
The Minister for Solid Minerals Development, Dr. Dele Alake, has described the wave of tariffs imposed by the United States as a potential turning point for African economies, urging the continent to look inward and strengthen intra-African trade. Dr. Alake made this assertion during a fireside chat session at the 14th edition of the Annual Investment Meeting (AIM) Congress in…
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US seeking stronger economic partnership with Nigeria, says Presidency
By Kunle Sanni The Special Adviser to the President on Information and Strategy, Bayo Onanuga, has shed light on key discussions held between President Bola Ahmed Tinubu and Mr. Massad Boulos, a Senior Advisor for Africa under former U.S. President Donald Trump’s administration. Speaking on the outcome of the meeting, which took place Thursday in Paris, Onanuga revealed that the…
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