It was a jubilation in the military as President Bola Tinubu gave approval for a new establishment for the Nigerian Army days after he declared a state of emergency.
Dr Zacch Adedeji, the Executive Chairman, Federal Inland Revenue Service (FIRS), has revealed that 95 per cent of Nigerians will pay no tax under the new tax regime.
Britain's government signalled Wednesday it could issue permits for oil and gas extraction around existing North Sea fields, despite a promise to halt licences for new production in the area. The government said it aims to "manage existing oil and gas fields for their lifespan and not to issue new licences to explore new fields".
German insurance giant Allianz signalled Wednesday looming job cuts due to its adoption of artificial intelligence with a report saying up to 1,800 roles, mainly in call centres, could be axed. Many companies have been announcing job cuts due to adoption of AI as the boom in the technology gathers pace. sr/fz/rl
The Swedish Energy Agency said Wednesday it was giving some $40 million in support to low-carbon steelmaker Stegra, amid fears surrounding the ambitious startup's finances. "The project has great potential to accelerate the transition in the iron and steel industry," said a Swedish Energy Agency statement.
The European Union stepped up its pressure on Shein on Wednesday after the online retail giant faced an uproar in France over the sale of childlike sex dolls. The French commerce minister said Wednesday that France will lodge a civil suit against AliExpress and Joom over the sale of childlike sex dolls on their platforms.
The National Bureau of Statistics reported slight declines in the prices of major food items such as beans, garri, maize, and tomatoes in September 2025.
Hungary will deliver more oil products to Serbia, its foreign minister said Wednesday, ahead of a shutdown of the Balkan nation's oil refinery, under US sanctions due to its majority-Russian ownership.
EU lawmakers on Wednesday called to make it easier to suspend e-commerce platforms, following outrage in France over the sale of childlike sex dolls on Shein, and demanded better policing of such websites. Lawmakers also demanded EU states and the European Commission enforce the DSA, and called for better enforcement of rules including on product safety.
The Tinubu administration has introduced several loan and grant schemes to help Nigerians cope with economic hardship, unemployment, and rising poverty levels.
British entrepreneur Richard Branson paid tribute Wednesday to his wife Joan Templeman shortly after announcing her death, saying "life will never be the same without her". Templeman avidly avoided the public spotlight, with Branson describing her as a "down-to-earth Scottish lady" and "very private person" who almost never gave interviews.
Economy
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