Business Updates

South Africa’s presidency of the G20 in November offers Africa an opportunity to influence global conversations on solidarity, equality, and sustainability, according to Steven Gruzd, head of the African governance...

The U.S. trade deficit narrowed sharply in June, reaching its lowest level in nearly two years, driven by a significant drop in consumer goods imports. Notably, the trade gap with...

Afreximbank spearheads a $1.35 billion financing package as part of a $4 billion syndicated deal to support Dangote Refinery, boosting Africa’s industrial and energy ambitions. In a significant move to...

In a decisive move to strengthen bilateral economic ties, the governments of Nigeria and the Republic of Benin have agreed to formalize a joint trade framework aimed at streamlining cross-border...

The Nigeria Customs Service (NCS) has officially announced a complete phase-out of its existing Fast Track Scheme, directing all participating companies to transition to the Authorised Economic Operator (AEO) Programme...

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has called on the federal government to provide greater clarity on its ongoing tax reforms and enhance support...

Trade partners across the globe are reacting swiftly to a sweeping executive order issued by U.S. President Donald Trump, introducing new tariffs set to take effect within seven days. The...

In a major step to bolster Nigeria’s fashion industry and creative economy, the Federal Ministry of Art, Culture, Tourism, and the Creative Economy has launched a National Designer Training Scheme...

The Nigeria Customs Service (NCS) is set to overhaul its revenue structure by replacing various import-related levies with a single, streamlined 4% Free On Board (FOB) charge, according to the...

The National Bureau of Statistics (NBS) has announced that Nigeria’s nominal Gross Domestic Product (GDP) now stands at N372.82 trillion as of 2024, following a comprehensive rebasing exercise that adopted...