The Senate has increased this year’s revenue target of the Nigeria Customs Service (NCS) to N10trillionSenate Committee on Customs with a matching order that the revenue be raised to N10 trillion. NCS got the new target while it was defending its 2025 budget proposal of N6.584 trillion before the Senate Committee on Customs. Chairman of…
Nigeria’s telecom sector has witnessed a rebound after the Nigerian Communications Commission (NCC) approved a hike in end user tariff of telecom services. Executive Vice Chairman at NCC, Dr Aminu Maida, recalled that a crisis rocked the industry about two years ago that nearly brought the sector which he said is a key contributor to…
The United Kingdom (UK) has confirmed that Nigeria will continue to enjoy duty-free access on 99per cent of total goods exported to the UK market under the Developing Countries Trading Scheme (DCTS). The initiative reinforces UK’s long-term ambition to deepen trade ties, support Nigerian exports and promote economic growth for both our countries. The DCTS…
In the first quarter (Q1) 2025, Nigeria recorded N5.172 trillion trade surplus, according to the National Bureau of Statistics (NBS). NBS in its “Foreign Trade in Goods Statistics Q12025,” revealed that the country’s import dipped to N15.426 trillion as export rose to N20.59trillion, totally N36.02trillion trade in the period under review. The report said total…
Nigeria’s carrier, Air Peace yesterday accused a prominent senator of assaulting staff and disrupting flight operations at the Murtala Muhammed Airport Terminal 1, Ikeja, Lagos. The was later confirmed to be former Edo State Governor and current senator, Adams Oshiomhole. A viral video circulating on social media showed Oshiomhole in a heated argument with an…
Scientists from Covenant University, Ota, Ogun State yesterday, validated the potent anti-microbial and energy-boosting properties of structured water generated using QNET’s innovative Amezcua Bio Disc 3 technology and other wellness solutions from the stable of the company. Their findings, shared at the Amezcua Science Dialogue, with: “Demystifying the Science Around QNET Products,” as theme, was…
The Central Bank of Nigeria (CBN) has debunked claims suggesting it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025. The apex bank said the official deadline remains June 3, 2025, as previously announced. A statement issued yesterday by the Acting Director of the Corporate Communications Department,…
The Federal Government has said it remained committed to deploying innovative and fiscally responsible financing strategies to optimise Nigeria’s oil assets, enhance external liquidity, and strengthen macroeconomic stability. The government made the clarification as conversations continue around a proposed crude-for-loan arrangement with Saudi oil giant, Aramco. In a statement, the Federal Ministry of Finance addressed…
Nigeria’s Minister of Foreign Affairs, Mr Yusuf Tuggar, has reaffirmed Nigeria’s commitment to having closer economic and diplomatic cooperation with China. Tugger told the News Agency of Nigeria (NAN) yesterday in China that tangible progress had been made under the Forum on China-Africa Cooperation (FOCAC) framework. Tuggar described FOCAC as not just a forum for…
