The Nigerian National Petroleum Company (NNPC) Limited has reported a 59.93 per cent decline in profit after tax (PAT) to N216 billion in September from N539 billion in August. The state-owned oil company disclosed this in its monthly report summary for September, released on Tuesday, October 21. According to NNPC, the PAT recorded in September …
In a sign of shifting priorities at the world’s most powerful central bank, the U.S. Federal Reserve is expected to cut interest rates twice more before year-end, a move analysts say reflects mounting concern over a slowing job market despite persistent inflation. According to a survey, out of 117 economists, 115 expect the Fed to …
Switzerland’s exports to the United States surged in September as pharmaceutical companies accelerated shipments to beat Washington’s impending tariff hike. Data released on Tuesday by the Swiss Federal Customs Administration show that total Swiss exports to the U.S. soared by nearly 43% in seasonally adjusted terms compared to August, a sharp rebound after a slump …
In a sweeping structural reform, Nigeria has effectively abolished its standalone 10% Capital Gains Tax (CGT) and integrated the gains into its new income tax regime, a move that has triggered widespread debate over its potential to stifle investment or modernize tax fairness. Under the newly signed Nigeria Tax Act, 2025, capital gains for individuals …
Mineral development expert Dr Femi Salami has highlighted the need for African nations to harness their vast mineral endowments to become a tool for sustainable economic and strategic global power. Dr Salami, who spoke at different fora during the World Bank/International Monetary Fund (IMF) 2025 Annual Meetings in Washington DC, United States, pointed out that …
Nigeria has been faced with the most complicated form of inflation, where all the possible types are evident at the same time, said a development economist, Ken Ife. Ife, who appeared on Channels Television’s The Morning Brief on Monday, October 20, described the current inflation pressure as a complex case of stagflation, a rare economic …
China did not import any soybeans from the United States in September, the first time since November 2018, as escalating trade tensions and high tariffs pushed buyers toward South American suppliers. According to data from China’s General Administration of Customs, imports from the U.S. fell to zero from 1.7 million metric tons in the same …
The Centre for the Promotion of Private Enterprise (CPPE) has said that the recent announcement of the prerogative of mercy to certain beneficiaries, if not reviewed and rationalised, could have far-reaching implications on investments and the Nigerian economy. It expressed its concerns in a statement on Sunday, October 19, by its Managing Director/Chief Executive Officer, …
The key messaging from Nigeria’s delegation at the 2025 International Monetary Fund/World Bank annual meeting in Washington DC is that Nigeria's economic reform agenda is yielding tangible results, steering the nation toward stability, inclusiveness, and innovation-driven growth. According to Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN) and the Leader of the …
Central Bank of Nigeria (CBN), Governor, Dr Olayemi Cardoso, has said Nigeria’s economic reforms are yielding significant benefits and positioning the country firmly on the path to stability, inclusiveness, and innovation-driven growth. Cardoso said the economic reforms such as the removal of fuel subsidies, foreign exchange overhaul and policies aimed at boosting fiscal strength, have …
