Nigeria’s Exports to African Countries Decline by N631.5bn   Stakeholders are banking on the continued growth of non-oil trade to drive Nigeria’s exports to African countries, despite earnings crashing by 631.52 bn to N1.85 tn since the last peak of N2.49 tn in the third quarter...

'Rising Inflation May Halt Interest Rate Reduction'   Members of the Organised Private Sector have expressed fear that the recent uptick in Nigeria’s inflation rate risks shattering initial hopes of a reduced interest rate. According to the National Bureau of Statistics, the country’s headline inflation rose to...

Petrol Export Holds Key to Reducing Inflation, Says LCCI   The Lagos Chamber of Commerce and Industry (LCCI) has advised the Federal Government to increase domestic crude oil refining and petrol export. This strategy is expected to help the government achieve its goal of reducing inflation...

LCCI Forecasts Decrease in Interest Rates for 2025   The Lagos Chamber of Commerce and Industry (LCCI) has forecast a decline in interest rates for 2025, citing a slowdown in inflation as a key factor. This positive outlook suggests that borrowing costs may decrease, potentially boosting...

Nigeria’s Raw Material Imports Rise To N2.4trn   Nigeria spent at least N2.4tn to import raw materials from other countries in 2022, according to data collated from Foreign Trade Statistics of the National Bureau of Statistics (NBS). The data also showed that Nigeria exported raw materials to...

LCCI Urges FG to Remove Petrol Subsidy, Implement PIA The Lagos Chamber of Commerce and Industry has requested the Federal Government to remove fuel subsidies and implement the Petroleum Industry Act. The Vice President, LCCI, Gabriel Idahosa, made this request while representing the President, LCCI, Dr....