Vice President Kashim Shettima has called for the integration of Africa’s vast informal economy into the formal intra-African trade structure, stressing that the continent’s future prosperity hinges on this transformation. He spoke  on Monday at the opening of the 4th African Union Micro, Small and Medium Enterprises (MSMEs) Forum in Abuja. Mr Shettima emphasised that the African Continental Free Trade Area (AfCFTA) presents a vital opportunity to formalise the informal…

Retail stations operated by the Nigerian National Petroleum Company Limited (NNPCL) on Monday adjusted pump prices of Premium Motor Spirit (PMS), also known as petroleum, pushing them to ₦945 per litre in the Federal Capital Territory and ₦915 in Lagos, marking a new high in Nigeria’s deregulated fuel market. The latest increase reflects a ₦35 jump in Abuja and a ₦45 rise in Lagos, from previous prices of ₦910 and…

In a move aimed at curbing the high cost of housing transactions and restoring order in the real estate sector, the Lagos State Real Estate Regulatory Authority (LASRERA) has entered into a strategic partnership with chairmen of the 57 Local Government Areas (LGAs) and Local Council Development Areas (LCDAs) across the state. The initiative seeks to regulate and reduce agency and legal fees charged by real estate practitioners, in a…

The Federal Government (FG) is poised to sign more than 30 Memoranda of Understanding (MoUs) as the second Nigeria-Brazil Strategic Dialogue Mechanism (SDM) kicks off in Abuja on Monday, 23 June 2025. The high-level engagement, centred on agriculture, energy, defence, innovation, the creative economy, and other strategic sectors, aims to drive investment, deepen bilateral cooperation, and expand Nigeria’s global partnerships under President Bola Tinubu’s Renewed Hope Agenda. Speaking at a…

For the first time, Nigeria’s Dangote Petroleum Refinery is set to export a 90,000 metric ton shipment of Premium Motor Spirit (PMS) — commonly known as petrol — to an Asian market, according to a Reuters report citing a source familiar with the deal. The shipment, facilitated by global commodity trading firm Mercuria, is scheduled to be loaded on June 22. Until now, the company’s petrol exports have remained within…

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, have met with the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, as part of efforts to strengthen the alignment between fiscal and monetary policies. In a statement signed by Mohammed Manga, Director of Information and Public Relations, the meeting, which took place in Abuja, came on the heels of a positive development in the economy,…

Insecurity is the biggest threat. Armed groups have driven farmers off their lands, especially in food-rich states like Benue.

President Bola Tinubu has urged African leaders and financial institutions to work collaboratively and deploy the continent’s sovereign wealth funds with discipline and foresight to address pressing developmental challenges, including infrastructure deficits, climate resilience, and youth unemployment. Speaking on Monday in Abuja through Vice President Kashim Shettima at the opening of the 4th Annual Meeting of the Africa Sovereign Investors Forum (ASIF), Mr Tinubu stressed the importance of regional cooperation…

The Dangote Petroleum Refinery has unveiled a new initiative that will see petrol and diesel delivered at no cost to fuel marketers, distributors, and major consumers throughout Nigeria. The refinery, located in Lagos, confirmed in a statement on Sunday that the programme is set to launch on 15 August 2025. To facilitate the scheme, the company has acquired 4,000 newly manufactured tankers powered by Compressed Natural Gas (CNG). READ ALSO: Nigerians…

Governor Chukwuma Soludo of Anambra State has praised President Bola Tinubu for pulling Nigeria’s economy back from the brink of collapse, describing his administration’s structural reforms as ‘audacious’ and necessary. Speaking at ‘The Platform Nigeria’— a national discourse hosted by Poju Oyemade and The Covenant Nation, Mr Soludo said Mr Tinubu’s economic policies returned the country’s public finances to solvency and a path of macroeconomic stability. “The audacious structural reforms…

President Bola Tinubu has reaffirmed his administration’s unwavering commitment to strengthening the productive base of the Nigerian economy. He made this known during a joint session of the National Assembly to commemorate Democracy Day 2025 on Thursday. According to Mr Tinubu, the government is driving this transformation through investments in critical infrastructure, including roads, the expansion of port operations, rail, and power. He added that these efforts are aimed at…

The Comptroller General of the Nigeria Customs Service (NCS), Bashir Adeniyi, has reaffirmed the agency’s commitment to trade facilitation and operational efficiency during a working visit to the Oyo/Osun Area Command in Ibadan. During the visit, Adeniyi inspected the Ibadan Train Station Terminal and assessed a prospective private bonded warehouse. READ ALSO: Customs handovers N24.6 million worth of illicit drugs to NAFDAC Once operational, the bonded facility is expected to improve…