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Dele Kelvin Oye praised the efforts of Akyol in establishing a $5 billion trade partnership between Nigeria and Türkiye. This collaboration is seen as a significant step towards enhancing economic ties between the two nations.
The naira has fallen to a 17-day low of N1,380.71 per dollar in the official FX market. This decline is attributed to a slowdown in liquidity.
Passengers were stranded at Uyo airport due to a runway lighting failure, despite a recent N1.19 billion upgrade intended for night operations. This incident highlights ongoing issues with airport infrastructure in Nigeria.
Nigeria aims to generate between $25 million and $125 million in annual export revenue by leveraging the UK’s Developing Countries Trading Scheme (DCTS) and implementing aviation reforms. This initiative is expected to enhance trade relations and boost the economy.
South Africa has decided to extend its fuel tax cuts to alleviate the financial burden on citizens amid rising global oil prices. This move will result in a revenue loss of nearly $1 billion for the government.
Nigerians are increasingly turning to pre-loved goods, leading to a 97% surge in this market. The traditional preference for brand-new items, known as 'tear rubber,' is declining significantly.
Nigeria's Renewed Hope Agenda is transforming the credit landscape by reducing borrowing costs and creating a universal credit identity. This initiative aims to break the cycle of financial struggle for many Nigerians.
The Lagos State government has allocated land for a new commercial city named 'Downtown Lagos'. This initiative aims to boost economic activities and attract investments in the region.
Nigeria's electricity market reforms are facing criticism from industry leaders who highlight ongoing financing challenges. The divide among operators in the power, gas, and renewable energy sectors raises concerns about the effectiveness of these reforms.
Nigeria spends $6 billion annually on imported clothing, according to the Minister of Industry, Trade and Investment, Olajumoke Oduwole. She encouraged local industry players to focus on export markets to reduce this expenditure.
The UAE has announced its withdrawal from OPEC and OPEC+ following criticism of Arab states for inadequate protection against Iranian attacks. This decision marks a significant shift in the UAE's oil strategy amidst regional tensions.
The National Bureau of Statistics reported that the price of petrol rose to N1,288 per litre in March. This increase is part of the ongoing fluctuations in fuel prices in Nigeria.
The UAE has officially withdrawn from OPEC and OPEC+. This decision was announced by the UAE energy ministry in a recent statement.
The UAE has officially withdrawn from OPEC and OPEC+. This decision was announced by the UAE energy ministry in a recent statement.
The Nigeria Labour Congress (NLC) asserts that a salary of ₦1 million is meaningless without a stable Naira. They emphasize the importance of currency stability for the value of earnings.
Nigeria's livestock sector is poised for transformation through a private sector-led investment initiative. This effort aims to unlock $3 billion in the country's pastoral markets.
Nigeria's average petrol price increased to N1,288.54 per litre in March, marking a 22.55% rise from February. This surge reflects ongoing challenges in the country's fuel pricing system.
The NMDPRA has proposed a new price range for aviation fuel, suggesting it should be between ₦1,960 and ₦2,800 per litre. This recommendation comes in response to rising fuel prices impacting airlines' operating costs.
Nigerian manufacturers are expressing concerns over the low share of manufactured goods in the country's export market, despite a significant increase in total exports. They attribute this issue to ongoing structural challenges that hinder competitiveness.
The Hormuz chokepoint is causing disruptions in fertilizer supply, which could threaten Africa's food security. However, the continent possesses the resources necessary to address this issue.
The Minister of Livestock Development, Alhaji Idi Mukhtar Maiha, has introduced a 10-point strategy to tap into Nigeria's $74 billion livestock economy. The plan emphasizes private investment, productivity, and addressing infrastructure gaps.
Nigeria spends $6 billion each year on imported clothing, highlighting challenges in the local textile industry. The government acknowledges issues like poor infrastructure and trade malpractices affecting local manufacturers.
The Nigerian government has launched multi-lingual toolkits aimed at enhancing trade procedures and increasing non-oil exports. This initiative is expected to significantly boost Nigeria's participation in the African Continental Free Trade Area (AfCFTA).
The Nigeria Labour Congress (NLC) emphasizes that a salary of ₦1 million is ineffective without a stable Naira. They call for a currency that can adequately support workers and their families.
The federal government is implementing the African Continental Free Trade Area (AfCFTA) locally to enhance exports from Micro, Small, and Medium Enterprises (MSMEs) in Northwest Nigeria. This initiative aims to strengthen the local economy and support small businesses in the region.
NNPC reports that crude oil production has reached 1.71 million barrels per day. The company has resumed consistent remittances to the federation account since July 2025.
Venezuela's oil production has drastically declined, with less than 30% of its oil wells currently active. This situation is attributed to years of corruption, underinvestment, and US sanctions.
Nigerians are increasingly turning to solar energy to combat persistent electricity shortages. This shift is proving beneficial for many households and businesses seeking reliable power sources.
Nigeria is currently redefining its investment landscape amid economic challenges and reforms. This shift aims to attract more intelligent capital over the next decade.
Nigeria's public debt stock rose to N159.28 trillion in Q4 2025, up from N153.29 trillion in the previous quarter. This increase highlights ongoing fiscal challenges faced by the country.