U.S. 15% Tariff on Nigerian Goods Takes Effect Thursday, Threatening $12bn Exports The United States will begin enforcing a new 15% tariff on Nigerian exports next week Thursday, a move expected to hit the country’s oil-dependent economy and strain its trade ties with Washington. President Donald...

Tinubu Appoints New NERC Chairman, Commissioners   President Bola Tinubu has nominated Abdullahi Ramat as the new Chairman/Chief Executive Officer of the Nigerian Electricity Regulatory Commission (NERC). Tinubu also nominated Abubakar Yusuf as the Commissioner of Consumer Affairs and Dr Fouad Animashun as Commissioner of Finance and...

NGX Surges by N479bn as Insurance and Consumer Goods Stocks Lead Rally   The Nigerian Stock Exchange (NGX) recorded a market value gain of N479bn at the close of trading on Thursday, August 7, 2025. This impressive growth was driven largely by strong performances in the...

Dangote Increases Petrol Price, Resumes Sales After One-Week Suspension   The Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit, popularly known as petrol, after a one-week suspension, with a revised ex-depot price of N850 per litre, up from the previous rate of N820. This...

CBN to Take Legal Action Against FX Contract Defaulters Post-Audit   The Central Bank of Nigeria (CBN) has disclosed that it is considering legal actions against the violators of the foreign exchange forward contracts after the completion of a forensic audit of those contracts. CBN indicated this...

RMRDC Calls for 60% Reduction in Raw Material Imports   The Raw Materials Research and Development Council (RMRDC) has stated that Nigeria must reduce its dependence on imported raw materials by at least 60 per cent within the next five years if it is to become...