Category: Business

Nigeria Partners with Saudi Arabia to Tap into $7.7 Trillion Halal Market

The Federal Government has signed a strategic agreement with Saudi Arabia’s Halal Products Development Company (HPDC) to position Nigeria as a key player in the $7.7 trillion global halal market. Vice President Kashim Shettima, represented by Deputy Chief of Staff Ibrahim Hadejia, described the deal as a major economic milestone that will drive job creation, […]

Dangote Refinery Slashes Petrol Price Again, Cuts N125 in 26 Days

Dangote Petroleum Refinery and Petrochemicals has announced another reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, marking its second price cut this month. The latest adjustment reduces the price by N65, bringing it down from N890 to N825 per litre at the gantry. This follows an earlier N60 reduction on […]

FG Takes Full Ownership of Keystone Bank

The Federal Government of Nigeria has officially taken full ownership of Keystone Bank Limited following a court judgment that ordered the forfeiture of shares previously held by its former shareholders, Sigma Golf Nigeria Limited and Alhaji Umaru H. Modibbo. In a statement posted on its official X (formerly Twitter) handle on Tuesday, February 11, 2025, Keystone Bank confirmed the development, stating that the Lagos State Special Offences Court in Ikeja ruled […]

Australia Pushes for U.S. Tariff Exemption, Citing Jobs and Defense Ties

Australia’s Trade Minister Don Farrell has urged the Trump administration to exempt Australian steel and aluminum exports from newly announced 25% tariffs, arguing that they support American jobs and strengthen shared defense interests. President Donald Trump announced Sunday that the U.S. would impose new 25% tariffs on all steel and aluminum imports, escalating his protectionist […]

China Files WTO Complaint Over Trump’s New Tariffs, Calls Them “Protectionist”

China has lodged a complaint with the World Trade Organization (WTO) against U.S. President Donald Trump’s latest 10% tariff on Chinese imports and the removal of duty-free exemptions for low-value packages, arguing that the measures are “protectionist” and in violation of WTO rules. Beijing’s formal request for trade consultations, filed Wednesday, comes as shippers and […]

Trump Confirms U.S. Tariffs on EU Imports, Hints at Possible UK Duties

President Donald Trump has confirmed that U.S. tariffs on imports from the European Union “will definitely happen,” following similar measures already imposed on Canada, Mexico, and China. Speaking on trade relations, Trump did not rule out extending tariffs to UK goods, stating that the country is “out of line.” However, he suggested that a resolution […]

Telecom Operators Set to Roll Out 50% Tariff Hike Amid Protests

Telecommunications operators in Nigeria have confirmed that they are finalizing new tariff structures following the Federal Government’s approval of a 50% hike in service rates through the Nigerian Communications Commission (NCC). While the NCC had initially set the implementation date for February 2025, telecom companies say they will gradually introduce the new tariffs, with full […]

Dangote Refinery Cuts Petrol Ex-Depot Price to ₦890 Per Litre

The Dangote Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦950 to ₦890 per litre, effective Saturday, February 1, 2025. The Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, stated that the price cut reflects market realities, including declining international crude oil prices. “This strategic adjustment is a direct […]

Tariffs on Mexican and Canadian Imports Could Drive Up Gas and Grocery Prices

Upcoming tariffs on goods from Mexico and Canada could significantly impact U.S. consumers, with gasoline prices potentially rising by as much as 70 cents per gallon and grocery bills climbing, experts warn. The Trump administration has reaffirmed plans to impose a 25% tariff on all imports from Canada and Mexico starting February 1. These two […]