Despite widespread electricity shortages across Nigeria, neighbouring West African countries supplied with power from the national grid are owing the country millions of dollars in unpaid electricity bills. According to the Nigerian Electricity Regulatory Commission (NERC), Togo, Niger and Benin currently owe Nigeria $17.8 million (about ₦25 billion at the prevailing exchange rate) for electricity …
Aluminium prices in the United States have surged to record levels, far exceeding what import levies and transport costs alone would justify. Tight global supplies, combined with tariffs and low domestic inventories, are driving the spike. Used extensively in automotive, aerospace, packaging, and construction industries, aluminium’s rising costs are pushing up manufacturing expenses, squeezing margins, …
Britain is preparing measures to soften the impact of a planned business rates increase on pubs, following warnings from hospitality groups that the tax hike could force closures. Pubs, long central to communities across the UK, sought relief after Finance Minister Rachel Reeves announced changes to business rates—a property tax on commercial premises during her …
Companies worldwide found it harder to do business in 2025 due to declining global cooperation on trade, climate, technology, and security, according to a survey published by the World Economic Forum (WEF) on Thursday. Released ahead of the WEF’s annual Davos gathering, the online poll of 799 executives across 81 economies showed that 43% reported …
Zambia has withdrawn request for a one-year extension of its Extended Credit Facility (ECF) with the International Monetary Fund (IMF), the Fund confirmed on Wednesday with no reason provided for the reversal. The ECF, agreed in 2022, aimed to help Zambia stabilize its finances after defaulting on international debt in 2023. A one-year extension would …
The Federal Competition and Consumer Protection Commission (FCCPC) has listed 521 digital lending companies under its regulatory oversight as Nigeria’s digital credit sector faces stricter enforcement. The January 5, 2026, deadline for full compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 has now passed. Of the 521 companies, 457 have full …
KPMG has flagged key concerns over the Nigeria Tax Act (NTA) and the Nigeria Tax Administration Act (NTAA), warning that several provisions could create legal uncertainty. The firm outlined the errors and gaps in a recent report titled ‘Nigeria’s New Tax Laws: Inherent Errors, Inconsistencies, Gaps and Omissions.’ Pinnacle Daily reports that the implementation of …
There are concerns that the crisis in Venezuela presents a significant risk for Nigeria’s 2026 budget and the broader economy. While Venezuela and Nigeria are geographically distant, they are direct competitors in the global oil market. After months of tactical preparations, the United States invaded Venezuela during the weekend. The U.S. military force launched strikes …
Nigeria’s non-oil exports rose by 21 per cent to $12.8 billion in the first half of 2025, data from the Federal Ministry of Industry, Trade and Investment showed. The figures were contained in the ministry’s 2025 activity review and outlook for 2026, which assessed Nigeria’s economic repositioning under President Bola Tinubu’s administration. The ministry said …
Company executives, customs brokers, and trade lawyers are preparing for a potential Supreme Court ruling on the legality of President Donald Trump’s global tariffs, which could trigger a fight over up to $150 billion in refunds for duties already paid. The tariffs, imposed under the International Emergency Economic Powers Act (IEEPA) of 1977, have faced …
