Electricity Subsidy Surges by 220%, Reaches Almost N2trn   The Federal Government’s electricity tariff subsidy jumped from N610bn in 2023 to N1.94tn in 2024. This represents a 219.67 per cent increase in yearly subsidy funding, despite the Band A tariff hike of April 2024. The Nigerian Electricity...

Urea Exports Unaffected by Trump’s 14% Tariffs - Dangote   President of the Dangote Group, Aliko Dangote, said on Thursday he was “comfortable” with the effect of United States President Donald Trump’s tariffs on his company’s urea exports. He expressed confidence because rival exporter Algeria had been...

'US Tariff May Slow Nigeria’s Economic Growth Prospects'   Nigeria’s economic growth prospects in 2025 face a potential slowdown due to a newly imposed 14 per cent reciprocal tariff by the United States on Nigerian imports. This was indicated in the latest ‘Nigeria Economic Outlook – April...

AfDB Warns of Disaster if US Tariffs Spark Retaliatiry Measures President of the African Development Bank Group (AfDB), Akinwummi Adesina, has warned African countries not to impose retaliatory tariffs against the United States’ Government, as such an action could only bring disaster to their economy. Adesina...

FG Establishes Sub-Committee to Assess Impact of Trump Tariffs   The Federal Government is reviewing the possible effects of the unfolding international tariff regimes and shifts in global commodity prices. The Economic Management Team (EMT) chaired by the Minister of Finance and Coordinating Minister of the Economy,...

Trump's Tariffs Put $10bn US-Nigeria Trade at Risk   The newly imposed 14 per cent tariff by US President Donald Trump on exports by Nigerian businesses presents a significant risk to the $10bn annual exports to the United States, potentially disrupting key sectors such as oil...