The Federal Executive Council (FEC) has officially ordered the full implementation of the Naira-for-Crude policy, a strategic agreement aimed at reducing Nigeria’s dependence on foreign exchange in the oil and gas sector. According to an update shared by the Federal Ministry of Finance via its official X (formerly Twitter) handle on Wednesday, the directive reinstates…
The Central Bank of Nigeria (CBN) has announced that personal remittance inflows hit $20.93 billion in 2024, marking an 8.9% year-on-year increase. This reflects stronger engagement from the Nigerian diaspora and improved economic conditions. This development was revealed in a statement released on Wednesday by the CBN’s Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali,…
President Bola Tinubu has paid tribute to renowned Nigerian businessman and former MTN Nigeria Chairman, Pascal Dozie, who passed away at the age of 85 in the early hours of Tuesday. The announcement was made by Presidential spokesperson, Bayo Onanuga, who confirmed the sad news of the death of the respected entrepreneur and pioneer founder…
The United States Trade Representative (USTR) has strongly criticized Nigeria’s import restrictions on 25 categories of goods, stating that the policies create trade barriers and limit market access for American exporters. The USTR made this known on Monday via its official X (formerly Twitter) handle, stressing that the import ban adversely affects key sectors such…
The United States has officially begun collecting a new 10% tariff on all imports, following President Donald Trump’s sweeping trade announcement earlier this week. According to Naija Blog Daily reports, US Customs agents started enforcing the baseline tariff at seaports, airports, and customs warehouses from 12:01 a.m. ET (0401 GMT) on Saturday, marking a significant…
Former World Bank Group President David Malpass has backed Donald Trump’s sweeping tariff policy, describing it as a unique opportunity for the United States to rebuild its economy and renegotiate global trade deals. Malpass made this statement during an interview with Fox News on Friday, following Trump’s announcement of a 10% global tariff on all…
