Nigeria will slash import duties on food, vehicles and industrial inputs from July 1, the Presidency said on Tuesday, as Africa’s most populous country seeks to rein in inflation and ease rising living costs. The cuts include sharp tariff reductions on rice, sugar, palm oil, passenger vehicles and construction materials, with full exemptions for electric…
Rating agency, Fitch Ratings, has projected that Nigeria’s external reserves will decline to $47 billion by the end of 2026, despite ongoing foreign exchange (FX) reforms and recent improvements in macroeconomic policy. In its latest assessment affirming Nigeria’s long-term foreign-currency issuer default rating at ‘B’ with a stable outlook, the rating agency said the expected…
MTN Nigeria has been awarded two major international certifications, the ISO/IEC 20000 certification for IT Service Management Systems (ITSM) and the ISO/IEC 38500:2024 for IT Governance Management Systems. These achievements underscore the company’s continued commitment to delivering world‑class, reliable, governed, and continuously improving technology services to customers and stakeholders across Nigeria. The first of the…
South Korean multinational conglomerate, LG Electronics at the weekend, sealed a partnership deal with Viva Matic improve the experience of their customers across the country. The partnership, which will help to deliver more efficient, machine-optimised laundry performance for households, brings together Viva Matic’s high-performance detergent, specially formulated for washing machines, with LG’s advanced washing machine…
Startups in Nigeria and other parts of the continent have, through their innovation, are pushing the boundaries of what technologies such as Edge AI and the fifth technology (5G) can enable, and how they can be deployed at scale across the continent, American multinational semiconductor and telecommunications company, Qualcomm, has said. Its President, Middle East…
Truecaller yesterday announced the expansion of its Business Chat platform, making it accessible to global channel partners and enterprise solution providers. By “opening up” market access to its platform, Truecaller is empowering partners to transition their enterprise clients from legacy, low-trust SMS to a verified, smart, media-rich, and conversational communication experience. Through this partner-led expansion,…
The recent escalation in the US-Israel conflict with Iran has delivered a sharp reminder of Nigeria’s economic vulnerability. As oil prices surged past $100 per barrel and fuel costs climbed by 35% at Nigerian pumps, a troubling paradox emerged: Nigeria, a major crude oil producer with Africa’s largest privately-owned refinery now operational, still found itself…
Nigeria’s Dangote refinery, Africa’s largest, has increased exports of gasoline and urea to African countries hit by supply disruptions caused by the Iran war, its owner Aliko Dangote said on Monday. Dangote said the refinery, which is operating at its maximum capacity of 650,000 barrels a day, had helped cushion the full impact of the…
Access to computing capacity, not necessarily internet connectivity, will be the next phase of Nigeria’s and other African economies as demand for cloud services and emerging technologies such as artificial intelligence (AI) take strong footing across the continent, the International Finance Corporation (IFC), said at the weekend. Its Global Sector Lead for Data Centres and…
