Economy
NERC issues warnings as report shows number of deaths resulting from illegal connections, vandalism
The NERC report reveals that electricity distribution in Nigeria still has teething challenges that must be addressed to ensure safe transmission of energy.
Petrol marketers raise alarm over naira-for-crude deal, demand probe
The naira-for-crude deal commenced on October 1, 2024, for an initial six-month period, and enabled local refineries like Dangote Refinery to buy crude with naira.
Trump's tariff Big Bang puts global economy under threat
It took just one 50-minute speech by US President Donald Trump to undermine global economic stability and raise the prospect of a recession, with China's countermeasures only amplifying the risk of a debilitating tit-for-tat trade war. But it said things could get worse if a tit-for-tat trade war began, and on Friday China announced retaliatory tariffs on US goods of 34 percent.
JP Morgan predicts new naira exchange rate against dollar in 2025
A US top investment banker, JP Morgan, has predicted that the Nigerian currency will exchange for N1,450 per dollar due to changes in NNPC and CBN's FX reserve.
TikTok faces new US deadline to ditch Chinese owner
TikTok on Friday was hours from a deadline to find a non-Chinese owner or face a ban in the United States. In the hours before that deadline, TikTok temporarily shut down in the United States and disappeared from app stores, to the dismay of millions of users.
US Fed Chair warns tariffs will likely raise inflation, cool growth
US President Donald Trump's tariffs risk higher unemployment and will likely cause inflation to rise and growth to slow, Federal Reserve Chair Jerome Powell said Friday. Ahead of Powell's speech on Friday, Donald Trump took to his Truth Social account to insist that his tariff policy would not change despite the market reaction, and called on Powell to act.
After getting $1.13 billion, Nigeria seeks new $10.50m World Bank loan
The Nigerian government is seeking a new World Bank facility of $10.50 million for the Central Bank of Nigeria (CBN) to help boost the payment and remittance system.
How can the EU respond to Trump tariffs?
The EU has said "everything is on the table" as it readies its response -- including possibly targeting US Big Tech and taxing more American goods -- to President Donald Trump's sweeping new tariffs should talks with Washington fail.
Canada loses jobs for first time in 3 years as US tariffs bite
Employment in Canada fell for the first time in three years in March, the national statistical agency said Friday, as uncertainty over US tariffs led businesses to cut staff and stall hiring. The March jobs decline was driven by losses among full-time workers, who had seen a "strong upward trend in the second half of 2024," Statistics Canada said in a statement.
Economy
Load more