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 …
BUA Cement Plc has announced a $240 million investment to build a new 3-million-tonne-per-annum cement line in Sokoto, signaling its commitment to expanding production capacity and supporting West Africa’s infrastructure growth. The project, in partnership with Chinese engineering firm CBMI, will raise BUA Cement’s total annual output to 20 million tonnes, strengthening its position as …
Nigeria will end the importation of fertilisers as expanding private-sector investments reposition the country as a hub for value-added petrochemical products, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said. The Chief Executive of NMDPRA, Saidu Mohammed, disclosed this during a facility tour of Indorama Eleme Fertiliser and Chemicals Limited in Eleme Local …
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 …
The power grid has collapsed again, causing a nationwide blackout. This comes four days after the first major incident in 2026. Electricity supply from the grid to distribution companies (DisCos) across the country dropped to 0.00 megawatts (MW) from over 4,000MW on Tuesday morning, reflecting a nationwide power outage. Real-time data displayed on the Nigerian …
Meta Platforms, TikTok and YouTube will go on trial this week over claims that their platforms fuel youth addiction and harm mental health. The case marks a new phase in the debate over children’s screen time and social media use. The bellwether trial will take place at the California Superior Court in Los Angeles County. …
Nigeria’s digital economy faces a growing threat from a shortage of skilled manpower, putting an estimated $11 billion in annual industry revenue at risk. Experts warn that the skills gap also threatens Nigeria’s goal to increase the Information and Communication Technology (ICT) sector’s contribution to Gross Domestic Product (GDP) to 21 per cent by 2027. …
The Federal Government has launched a project to include 14 million smallholder farmers in the cassava bioethanol value chain. The aim is to cut fuel import costs and strengthen Nigeria’s bioeconomy. Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, announced the project in a statement signed by the ministry’s Director of Information and …
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 …
