The Federal Government has ordered the immediate suspension of the four per cent Free on Board (FOB) charge earlier imposed by the Nigeria Customs Service (NCS) on all imported goods. The directive, issued by the Coordinating Minister of the Economy and Minister of Finance, Wale Edun, was contained in a letter addressed to the Comptroller-General …
Nigeria’s headline inflation rate continued its downward trend for the fifth consecutive month, easing to 20.12 per cent in August 2025 from 21.88 per cent recorded in July. This represents a 1.76 percentage point decline, according to the Consumer Price Index (CPI) report released on Monday by the National Bureau of Statistics (NBS). The sustained …
Analysts have argued in the recent past that Nigeria’s food crisis is not just a product of violence; it is the consequence of policy incoherence, poor governance, and institutional fragmentation. In July, militants believed to be members of the Lakurawa group launched a raid on Kwallajiya, Sokoto State, resulting in 15–17 fatalities. This attack highlights …
The federal government has dismissed claims that it increased the pump price of Compressed Natural Gas (CNG), clarifying that recent adjustments were made by private investors. In a statement on Thursday, the Brands and Corporate Communications Manager of the Presidential Compressed Natural Gas Initiative (PCNGI), Matilda Johnson, described reports attributing price hikes to government directives …
Venezuela’s government is quietly allowing the use of dollar-pegged cryptocurrencies in private-sector currency exchanges as U.S. sanctions squeeze oil revenues and reduce the flow of foreign currency. U.S. restrictions on oil exports, described by Caracas as “economic war,” have made it harder for businesses to access dollars. Companies seeking raw materials must often exchange bolivars …
Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has hailed the new Bilateral Air Services Agreement (BASA) with Brazil as a “significant breakthrough.” He said the pact would reconnect both nations economically, socially, and culturally. Speaking in Brasília on Monday after the signing ceremony attended by President Bola Tinubu and Brazilian President Luiz Inácio …
