President Bola Tinubu has sacked two powerful ministers, one of them is Wale Edun of Finance and named their replacement in a minor cabinet reshuffled.
Nigerian government updates the banned import list, including cement and fertiliser, effective April 1, 2026, amid World Bank's calls to enhance competitiveness.
Manufacturers are grappling with fuel expenses exceeding N1 trillion as rising electricity and fuel costs put a strain on production. Stakeholders explore the impact
Tesla reported a 71 percent drop in first-quarter profits Tuesday in results that lagged analyst estimates as Elon Musk's automaker warned of a hit to demand due to "changing political sentiment." The electric vehicle producer reported profits of $409 million following a drop in auto sales that analysts said reflected brand damage due to Musk's work for the Trump administration.
The trade standoff between Washington and Beijing is not sustainable, US Treasury Scott Bessent said Tuesday, predicting the tit-for-tat tariff war would de-escalate soon. Bessent told the event Tuesday that he expects a de-escalation in the near future, according to a person who was in the room.
The Nigerian currency has crashed against the US dollar, shortly after the US currency hit a three-year low. The naira depreciated to N1,606.50 per dollar.
Nigerian government has finally given an official statement on the airport concession deals. The statement explains what is true, and what is not.
The Volkswagen group on Tuesday unveiled a series of new vehicles and a driver assistance system built "in China for China", which it hopes will help reverse its declining fortunes in the world's largest car market. Volkswagen also presented a new generation of driver assistance "specifically designed for the complex traffic conditions in China".
European Central Bank chief Christine Lagarde said Tuesday that she hoped US President Donald Trump would not oust the country's central bank boss Jerome Powell prematurely. "I hope that a trade deal will be something that can be considered by both partners, the United States and China," Lagarde said Tuesday.
The ogun state government had earlier set target dates in 2023 and 2024 to begin passenger operations, but missed them. It appears that 2025 it will happen.
German chemicals giant BASF said Tuesday it had exited two joint ventures in China's Xinjiang region after its local partner was alleged to have participated in rights abuses against the local Uyghur minority. BASF said at the time it had no indication that employees of the joint ventures were involved in rights violations, only staff of its local partner.
Economy
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