…report, "Nigeria is supported by improved macroeconomic stability and favorable terms-of-trade effects, though higher prices for essentials are expected to further aggravate poverty and food insecurity." The Fund noted that while growth in sub-Saharan Africa is expected to remain broadly stable, performance will vary s…
President Trump tells US officials to cut off all trade with Spain over NATO U.S. President Donald Trump on Wednesday ordered an immediate halt to all trade with NATO ally Spain, over what he called a lack of contributions to defense spending. "Spain is a wasted cause. We don't want to do any trade business with Spain…
The Nigerian naira traded at approximately ₦1,373.99 per United States dollar at the official Nigerian Foreign Exchange Market (NFEM) on Thursday, July 9, 2026, according to the latest available market data. Data from the official foreign exchange market showed the naira continuing to trade within a relatively stable r…
The United States and Iran traded strikes on Thursday for the second day running as Washington and Tehran battled over the strategic Strait of Hormuz. The vital oil and gas corridor is a key point of contention in the Middle East war, with Tehran insisting on control of the strait despite it being open to free passage…
…welcomed back to her market with an emotional celebration after giving birth, as fellow traders gathered to congratulate her and meet her newborn in a heartwarming moment that has delighted many Nigerians online. A viral video showed the woman carrying her baby wrapped in a blanket while smiling colleagues surrounded h…
…This represented a 0.24 per cent loss compared with Tuesday, when the local currency traded at N1,375.74. The Naira, which opened the trading week on Monday with a gain of N1.92 at the official market, recorded its first loss of N7.47 on Tuesday. The Naira had earlier experienced weeklong appreciation before dipping on…
…duly issued banknotes and supporting the smooth circulation of cash nationwide.It urged traders, transport operators, businesses and all users of cash to accept every banknote legally issued by the Central Bank of Nigeria. The CBN also advised members of the public seeking further clarification to contact the bank thro…
…ability to continue attacking international commerce flowing through the international trade corridor”, it said. Tehran’s reply came quickly, with the Guards saying they hit dozens of US military facilities in Kuwait and Bahrain, where an AFP journalist heard blasts. Early on Wednesday, Bahrain’s interior ministry and…
…Nigeria (SWAN) to rally regulators, policymakers and other stakeholders against illicit trade have come at a critical time. Counterfeit wines and spirits, smuggled products, and illegal distilleries have become an increasingly serious threat to one of Africa’s largest consumer markets, exposing weaknesses in border con…
…not only to strengthen East Africa's energy security but also to deepen regional trade in refined petroleum products, reduce import dependence and stimulate industrialisation across the region. Africa possesses abundant crude oil reserves but has historically lacked sufficient refining infrastructure to process its pro…
GistReel The Nigerian naira traded at ₦1,372.96 per United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, July 8, 2026, according to official market data. At the parallel market, commonly referred to as the black market, the dollar exchanged at approximately ₦1,400 per dollar for buying and…
…wouldn't have been successful. "I will tell you what worked. It is what the uncles, the traders who barely went to school, told me. They told me go left at all time and never right. The father who told me to forget theories and know when to be ruthless, conform or stand my grounds and what books to read. "Some of the w…
…of the party. The PUNCH reports that the ruling Accord and the opposition APC usually trade blame whenever violence is recorded in any part of the state. The Independent National Electoral Commission fixed August 15, 2026, for the governorship election in the state. The incumbent governor, Ademola Adeleke, is contestin…
…about development to practical actions that drive industrial growth, expand trade, create jobs, add value, and improve the living standards of its people. According to him, a structured financial backing and reliable infrastructure are essential for building the continent. "The conscience and the future of Africa depen…
…and has since urged its citizens against travelling to Japan as well as tightened trade restrictions on some Japanese firms. AFP
…imports, and 3.08 percent IDEC and other items. The Customs boss added that global trade disruptions arising from the Russia-Ukraine war also affected imports, particularly wheat shipments from the region. Adeniyi told lawmakers that the NCS has a revenue target of N11.074 trillion for the 2026 fiscal year. He said the…
…Technology, the Honourable Minister of Steel Development, and the Minister of Industry, Trade and Investment. Their participation is expected to enrich discussions on food security, industrialisation, local manufacturing, innovation, technology and value-chain development, all of which are critical to delivering afford…
…currency's positive run recorded throughout the previous trading week. The Naira traded at N1,383.62 to the dollar on Monday, June 29, marking the week's opening official exchange rate. The local currency strengthened further on Tuesday, June 30, closing at N1,379.68 against the dollar in the official market. Momentum…
…elections. His administration is threatening Brazil with new tariffs over alleged unfair trade practices. Last year, Trump’s administration hit Brazil with steep tariffs over a coup trial against the now-jailed Jair Bolsonaro, 71. However, the duties were lifted after a meeting between Lula and Trump. Last month Lula w…
…50 million customers, operates across 20 African countries and four continents, supports trade and investment, and demonstrates that an African institution can compete globally, while being deeply committed to our continent's development. "This success belongs to generations of dedicated colleagues, exceptional managem…
…College, Ido-Ani, the Nigerian Navy Secondary School, Imeri, as well as farmers, traders, artisans, transport operators, cooperative societies, public servants and other business owners across the area. According to him, the closure has forced residents and business owners to travel long distances to carry out banking…
…and creating freight corridors that better connect landlocked economies to ports and trade hubs. That level of fragmentation affects trade, investment, and how foreign investors understand the continent. Most American investors still focus on a handful of markets like Egypt, Nigeria, Kenya, and South Africa because the…
…sector may struggle to fully harness opportunities under the African Continental Free Trade Area (AfCFTA). Speaking in a television interview, Director General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, said manufacturers are increasingly investing in local sourcing and value addition to redu…
The Director-General of the World Trade Organisation, Ngozi Okonjo-Iweala, has praised the performances of African teams at the ongoing 2026 FIFA World Cup, commending their resilience and expressing hope for further success in the tournament. In a post on her verified X account on Sunday, Okonjo-Iweala singled out Mor…
…Nigeria as a bigger supplier to Europe during the month. Commenting on the market, a trader attributed the oversupply partly to increased shipments from Dangote and the United States. "Jet is oversupplied because of high local refinery production; refineries pushed back maintenance to make the most of the high prices.…