US-China tariff war could cut trade between both countries by 80% — WTO chief, Okonjo-Iweala
The World Trade Organization chief said Wednesday the US-China tariff war could reduce trade in goods between the two economic giants by 80 percent, pulling down the rest of…
Trump pauses tariffs for several countries but raises China’s rate to 125%
In a retaliatory move, United States President Donald Trump has raised China’s tariff rates from 104 percent to 125 percent. Trump announced his decision on Wednesday while pausing tariffs…
FEC orders full implementation of naira-for-crude deal
The Federal Executive Council has officially directed the full implementation of the suspended Naira-for-Crude agreement with local refiners. The Ministry of Finance disclosed this on its official X handle…
Tariff: U.S. Faults Nigeria’s Import Ban On 25 Products
Nigeria’s import ban on 25 different product categories impacts U.S. exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods, the United States Trade Representative said in a statement on…
CBN Spends $669m To Defend Naira In Q1 2025 — Report
The Central Bank of Nigeria (CBN) deployed approximately $669 million in foreign exchange (FX) interventions during the first quarter of 2025. A report by investment firm, AIICO Capital Limited,…
Oil Declines As CBN Sells $198 Million To Support Naira
Crude oil prices have weakened, declining by over 12% to approximately $65.50 per barrel, following sweeping trade tariffs by President Donald Trump against countries. Oil trade above $70 per…
Nigeria imports N11.8bn apples — Report
Latest data by the National Bureau of Statistics revealed that Nigeria imported N11.8bn worth of apples in the fourth quarter of 2024. This is as the prices of apple…
US Tariffs Could Shrink Global Merchandise Trade Volumes 1% In 2025 – WTO
US President Donald Trump’s worldwide tariff salvo could lead to an overall contraction of around 1 percent in global merchandise trade volumes this year, the WTO chief warned Thursday.…
Trump imposes 14% tariff on Nigerian exports to US
US President Donald Trump has announced that exports from Nigeria to the United States will now be subjected to a 14 per cent tariff. The decision, which was made…
Tinubu sacks NNPCL boss Kyari, names Ojulari as replacement
In a sweeping reconstitution of the Nigerian National Petroleum Company Limited board, President Bola Tinubu has removed the chairman, Pius Akinyelure and the Group Chief Executive Officer, Mele Kyari.…
Filling Stations Hike Petrol Price Amid Dangote-NNPCL Crude Dispute
Filling stations in Lagos, Nigeria’s commercial capital city, have increased the price of a litre of petrol from ₦860 to ₦930, making consumers pay at least ₦70 more than what…
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- Business , International , News
- March 31, 2025
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West African Juntas Impose 0.5% Levy On Goods From Nigeria, Other ECOWAS Nations
Mali, Burkina Faso and Niger have announced a new 0.5% levy on imported goods from Nigeria and other Economic Community of West African States (ECOWAS) member-nations. The development comes…
Dangote Refinery Ships Jet Fuel To US Amid Petrol Trade Crisis In Nigeria — Report
Six vessels carrying about 1.7 million barrels of jet fuel from the Dangote refinery arrived at U.S. ports this month, data from ship-tracking service Kpler showed. Another vessel, Hafnia…
Dangote to stop fuel supply to Nigerian market as naira-for-crude deal stalls
Dangote Refinery will stop loading petroleum products for Nigerian market as the renegotiation of the naira-for-crude deal is not recording significant progress, TheCable understands. However, sources said the refinery…
SEC revokes Mainland Trust’s registration, suspends Centurion registrars
The Securities and Exchange Commission (SEC) has revoked the registration of Mainland Trust Limited and imposed an indefinite suspension on Centurion Registrars Limited, along with its directors and sponsored…
