The World Trade Organization (WTO) has revised upward its forecast for global merchandise trade growth in 2025, citing a boom in AI-related goods and a rush of exports to the U.S. ahead of incoming tariff hikes by President Donald Trump. 📈 Key 2025 Trade Forecast Updates: 🔠Drivers of 2025 Trade Surge: 🇺🇸 Impact of…
The World Bank has revised its economic growth forecast for Nigeria and other sub-Saharan African countries, projecting a stronger expansion of 3.8% in 2025, driven by easing inflation and more stable macroeconomic conditions. This upgrade follows recent monetary policy adjustments, including the Central Bank of Nigeria’s decision last month to lower its benchmark interest rate…
The Central Bank of Nigeria (CBN) has announced new limits for agent banking operations across the country, capping daily cash-in and cash-out transactions at N100,000 per customer, and N500,000 weekly. The move is part of efforts to boost financial inclusion, reduce cash handling risks, and strengthen oversight. According to a circular issued on October 6,…
The Dangote Group has kicked off construction of a massive 2.5 billion fertiliser plant in Gode, Ethiopia, in partnership with Ethiopian Investment Holdings. The plant will produce 3 million metric tonnes of urea annually, using natural gas from Ethiopia’s Hilal and Calub reserves. At the groundbreaking ceremony, Ethiopian Prime Minister Abiy Ahmed hailed the project…
Vice President Kashim Shettima, alongside top government officials including Finance Minister Wale Edun and Budget & Planning Minister Atiku Bagudu, attended the 31st Nigerian Economic Summit on Monday in Abuja. The summit, themed “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030,” drew stakeholders from across sectors, including lawmakers, business leaders, and traditional…
Abuja, Nigeria – October 6, 2025The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a dramatic resurgence in Nigeria’s oil and gas sector, highlighting a 762% increase in rig count and over $40 billion in new investments — four years after the enactment of the Petroleum Industry Act (PIA). In a statement released on Sunday…
Lagos, Nigeria – October 6, 2025The Dangote Petroleum Refinery has expressed deep appreciation to President Bola Ahmed Tinubu for his decisive intervention in resolving the recent dispute with the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). In a statement issued on Sunday, the refinery also commended the efforts of the Office of…
In a political climate where symbolism often overshadows substance, criticisms of President Bola Tinubu’s absence from the 80th United Nations General Assembly (UNGA 80) miss the mark. Rather than focusing on physical presence, the emphasis should be on the message delivered and the issues raised on the global stage. This year’s UNGA, held under the…
Nigeria’s current account surplus rose to $5.28 billion in Q2 2025, up from $2.85 billion in Q1, reflecting increased resilience in the external sector and stronger foreign exchange inflows. The Central Bank of Nigeria (CBN) disclosed this in a Frequently Asked Questions (FAQ) document published on its official website on Tuesday. The bank also reported…
President Bola Tinubu has reaffirmed his administration’s commitment to attracting large-scale investments in Nigeria’s oil, gas, and infrastructure sectors, following a strategic meeting in Lagos with top global investment leaders. On Monday, Tinubu met with Bayo Ogunlesi, Chairman of Global Infrastructure Partners and a key executive at BlackRock, and Hakeem Belo-Osagie of Metis Capital, describing…
