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Economy
335 posts
Nigeria and Hong Kong Finalize Double Taxation Accord to Stimulate Investment
Nigeria and Hong Kong have inked a deal to eliminate double taxation and prevent tax evasion, aiming to bolster bilateral trade and investment.
Nigeria records economic recovery while consumer confidence remains low, CBN reports
The CBN reports that Nigeria's economy exited contraction in June due to agricultural growth, though household sentiment remains cautious as citizens prioritize essentials over major investments.
Experts demand investigation into Nigeria’s N34 trillion import waiver loss
Financial experts are calling for a formal inquiry after it was revealed that Nigeria lost N34 trillion to import duty waivers in 2025, a sum equivalent to 61 percent of the national budget.
Persistent Apapa and Kirikiri Gridlock Blamed on Tanker Operators and Regulatory Gaps
A combination of poor logistics planning, inadequate truck holding bays, and systemic corruption is causing severe, ongoing traffic gridlock in the Lagos Apapa and Kirikiri industrial corridors.
Nigerian Banks Reduce Sectoral Lending by N5.4 Trillion
Deposit money banks in Nigeria cut lending to eight major sectors by N5.45 trillion in 2025, largely due to the Central Bank of Nigeria ending its regulatory forbearance policy.
Governor Lawal Launches $200 Million Lithium Facility in Zamfara to Generate 2,000 Jobs
Governor Dauda Lawal has commissioned a $200 million lithium processing plant in Zamfara State, an initiative expected to create 2,000 jobs and modernize the local mineral sector.
Zamfara State Governor Launches $200 Million Lithium Facility
Governor Dauda Lawal has inaugurated a new $200 million lithium mining and processing plant in Zamfara State, aiming to boost local industrialization and economic growth.
Automotive traders offer varied feedback on recent import duty cuts
Nigerian car dealers report mixed views on government import duty reductions, citing the potential for lower prices alongside concerns regarding currency exchange rates and existing stock inventory.
Kogi State Prohibits Highway Revenue and Haulage Charges
The Kogi State Internal Revenue Service has banned all forms of roadside tax and haulage fee collection to align with new national tax laws and improve the local business environment.
ICRC Chief Advocates for Public-Private Partnerships to Close West Africa’s Infrastructure Deficit
ICRC Director-General Dr. Jobson Oseodion Ewalefoh has called for West African nations to embrace Public-Private Partnerships as a vital solution for closing the regional infrastructure gap.