Nigeria has officially gazetted and transmitted to the African Continental Free Trade Area (AfCFTA) secretariat, the Economic Community of West African States (ECOWAS) Schedule of Tariff Offers for Trade in Goods under AfCFTA. With agreement, which establishes zero duties on 90% of tariff lines for trade in goods, Nigerian goods are now competitively positioned in the African market, ensuring greater …

Nigeria’s credit rating was upgraded to B by Fitch Ratings, remaining in the speculative-grade category. According to Bloomberg, Fitch citied improved policy credibility and reduced near-term risks to macroeconomic stability as justification for the imrpovement. ‘The upgrade reflects increased confidence in the government’s broad commitment to policy reforms implemented since its move to orthodox economic policies in June 2023, including …

The Director-GeneraI of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala has said that the recent tariffs announced by the United States would have significant implications for global trade and economic growth prospects. On 2 April, President Donald Trump announced sweeping global tariffs on all imports into the US, imposing 14 percent on Nigeria. In a statement on Thursday, Okonjo-Iweala …

In a significant step towards curbing illegal mining, the Mining Marshals have successfully dismantled a heavily fortified illegal mining site in Rafin Gabas, Kokona Local Government Area of Nasarawa State. According to a statement on Thursday by Mr. Segun Tomori, Special Assistant on Media to the Minister of Solid Minerals Development, the site, which had long evaded law enforcement, was …

Governors are on the same page with the Federal Government on the Tax Reform Bills, according to Nasarawa State Governor, Engr. Abdullahi Sule. According to him, the four Tax Reform Bills passed on 18 March by the House of Representatives contain the adjustments made to the original Bills by the governors. Senate Leader Opeyemi Bamidele also said that the Senate …

A report by the National Bureau of Statistics (NBS), said the inflation figure fell from the 24.48% recorded in January following the rebasing of Nigeria’s Consumer Price Index (CPI). The update of the CPI made 2024 the base year for price increment instead of 2009 practised before. The new figure still falls short of the 15% targeted by the federal …

An e-commerce platform, Atlaxa has launched its maiden operations in Abeokuta, the Ogun State capital. At a media conference of the soft launch of Atlaxa Online Marketplace, the Chairman of Atlantica Financial Services Limited (parent company of Atlaxa Multi Resources), High Chief Olabode Mustapha said that Atlaxa was born out of a powerful vision to create a bridge between African …

The Naira yesterday depreciated to N1,515 per dollar in the parallel market from N1,510 per dollar on Monday. Similarly, the Naira depreciated to N1,502 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira rose to N1,502 per dollar from N1,499 per dollar …

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Tuesday, disclosed that his government is actively working on policies and initiatives that will position Lagos as the leading hub for digital gaming, fintech solutions, and Artificial Intelligence (AI)-driven creative enterprises in Africa. The governor also reaffirmed the state government’s commitment to fostering an environment where innovation thrives, responsible gaming is prioritised, and …

The Ooni of Ife, Oba Adeyeye Ogunwusi Ojaja II, on Sunday, commended President Bola Tinubu, saying the hardship resulting from his bold economic reforms is gradually giving way and yielding fruits for Nigerians. The monarch also said that the arbitrage between the parallel and the official markets has been closed completely for the first time in 20 years. He stated …