Chairman of the Nigeria–Türkiye Business Council (NTBC), Dele Kelvin Oye, has urged Turkish investors to leverage Nigeria’s $255 billion market size to expand their industrial and business footprint. He also urged the investors to take advantage of Nigeria's ongoing economic reforms and strategic access to the African Continental Free Trade Area (AfCFTA). He made the …
For more than a decade, Nigeria’s small and medium-scale enterprises (SMEs), the country’s largest employers and backbone of the real economy, have remained largely excluded from formal bank financing, despite repeated policy pledges to support them. An analysis of the Central Bank of Nigeria (CBN) Statistical Bulletin covering 2014 to 2023 reveals a troubling reality: …
A member of the Nigeria–Türkiye Business Council, Dr. Ifeanyi Onukwubiri, says the newly signed bilateral agreements between Nigeria and Türkiye will unlock fresh opportunities in trade, investment, and private-sector collaboration for both countries. Onukwubiri, CEO of TMT Travels and Tours Limited, noted that the accords reached by Presidents Recep Tayyip Erdoğan and Bola Ahmed Tinubu …
The Federal Government has reaffirmed its commitment to reclaiming Nigeria’s position among the world’s top cocoa-producing countries, aiming to drive job creation, economic growth, and food security. Speaking at the International Cocoa and Chocolate Forum (ICCF 2026) in London on January 26, 2026, Minister of Agriculture and Food Security Abubakar Kyari said Nigeria possesses natural …
A shop owner at Onitsha Main Market, Gibson Okafor, has described the government’s closure of the market as “putting fire to fire,” warning that it could drive customers away permanently. Governor Chukwuma Soludo of Anambra State ordered the shutdown of Onitsha Main Market on Monday, a decision that has drawn sharp criticism from traders and …
President Bola Tinubu and Vice President Kashim Shettima are to spend a combined ₦8.74 billion on local and international travels in 2026, according to provisions in the appropriation bill. His frequent overseas trips have drawn growing criticism, with opponents arguing that he has not devoted similar attention to domestic travels, except for visits linked to …
India and the European Union reached a long-awaited trade deal that will cut tariffs on many goods, aiming to boost bilateral trade and reduce reliance on the United States amid rising global trade tensions. The agreement is expected to double EU exports to India by 2032 by eliminating or reducing tariffs on 96.6% of traded …
The U.S. dollar edged higher on Tuesday but struggled to gain momentum as investors focused on Wednesday’s Federal Reserve interest rate decision and stayed alert to possible coordinated currency intervention by U.S. and Japanese authorities. Recent moves in the foreign exchange market have centred on the Japanese yen, which has rallied by as much as …
Nigeria’s exports to Africa surged in the first half of 2025, reaching N4.82 trillion, a 14 per cent increase from N4.21 trillion in the same period of 2024. West Africa continued to dominate as the main market, absorbing over 62 per cent of Nigeria’s continental exports. Bashir Adewale Adeniyi, Comptroller General of the Nigeria Customs …
Nigeria’s participation in the Pan-African Payment and Settlement System (PAPSS) recorded a sharp decline in the first half of 2025. The value of cross-border transactions processed through the platform fell by 53 per cent to N5.6 billion, according to the Central Bank of Nigeria’s (CBN) Financial Stability Report for June 30, 2025. The number of …
