China’s outbound shipment figures for the first two months of the year have shown a surprising rise, even with ongoing trade tensions and tariffs imposed by the United States. Official data revealed that exports soared far beyond economists’ forecasts, indicating that foreign demand remains robust and that the nation may once again surpass the record‑high […]
The Nigerian Export Promotion Council (NEPC) has called on Nigerian agro-exporters to strategically explore the European Union’s vast market of over 400 million consumers. NEPC emphasized that non-oil exports currently constitute only 10% of Nigeria’s total trade with the EU, even though the total trade volume reached $21.87 billion in 2024. This insight was shared […]
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Nigerians are facing mounting economic pressure as the cost of fuel continues its upward trajectory. The retail price of Premium Motor Spirit (PMS), commonly known as petrol, has surged to about N1,400 per litre, while Automotive Gas Oil (diesel) has climbed to N1,750 per litre. This latest increase follows a decision by the Dangote Refinery […]
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U.S. President Donald Trump has pledged decisive action to safeguard maritime trade in the strategically vital Strait of Hormuz. During remarks delivered at the National Prayer Breakfast, held at the Washington Hilton in Washington, D.C., he signaled a strong commitment to protecting international shipping routes. In a message shared Tuesday on his social media platform, […]
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Alibaba Philanthropy and the Jack Ma Foundation have unveiled a $1.5 million grant initiative aimed at empowering African innovators tackling some of the continent’s most urgent challenges. This announcement coincides with the launch of the 8th edition of Africa’s Business Heroes (ABH), a flagship entrepreneurship program dedicated to spotlighting and supporting visionary founders across Africa. […]
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The Nigerian Ports Authority (NPA) has disclosed that no fewer than 33 vessels loaded with petroleum products, food items, and various other consignments are projected to berth at Lagos ports within the week. According to the authority’s Daily Shipping Position report, these ships are scheduled to arrive between March 2 and March 8 across the […]
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The Nigerian Ports Authority (NPA) has confirmed the arrival of eight cargo vessels at major Lagos seaports, including Lekki Port, Tin-Can Island Port, and Apapa Port, where they are currently positioned and awaiting clearance to begin discharge operations. These ships are conveying a range of essential consignments made up of bulk urea, sugar, gypsum, base […]
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Companies across major sectors of the Nigerian economy are currently contending with extremely high borrowing costs as banks have increased their maximum lending rates to as much as 46 per cent. This challenging credit environment is placing significant strain on businesses’ ability to access affordable financing and expand operations, especially for those considered higher risk. An […]
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Nigeria is taking a decisive step toward industrial growth and economic diversification with the unveiling of the Nigerian Industrial Policy (NIP). The policy is strategically designed to boost value addition, enhance industrial capacity, create employment opportunities, and elevate the manufacturing sector’s contribution to the nation’s Gross Domestic Product (GDP) to an ambitious 25 percent. According […]
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Financial markets worldwide are on edge following reports that the European Parliament plans to suspend approval of the US trade deal agreed in July 2025. Sources close to the Parliament’s international trade committee indicate that the formal announcement is expected in Strasbourg, France, this Wednesday. This decision represents a fresh escalation in US–Europe trade tensions, […]
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Ogun State Governor, Dapo Abiodun, on Tuesday officially unveiled the Laderin–Professor Wole Soyinka Train Station Road in Abeokuta, the state capital, while also revealing plans to commission 20 additional road projects across different parts of the state. The governor explained that the upcoming road inaugurations are part of activities lined up to commemorate Ogun State’s […]
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Lagos State Governor, Mr. Babajide Sanwo-Olu, on Monday received the Director-General of the Annual Investment Meeting (AIM) Congress, Mr. Walid Farghal, at the Lagos House in Marina. The meeting, according to the governor, was a constructive engagement centered on areas where Lagos State is actively seeking increased inflows of foreign investment. He explained that the […]
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Nigeria’s importation of crude oil from the United States recorded a sharp increase within the first ten months of 2025, reaching more than 42 million barrels, according to newly released industry data. Statistics published by the United States Energy Information Administration (EIA) show that between January and October 2025, Nigeria imported approximately 42.13 million barrels […]
