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Dangote petrol price cut will help ease inflation — PETROAN

The Petroleum Retailers Outlet Owners Association of Nigeria has said the recent petrol price cuts by Dangote Refinery and NNPC filling stations will help reduce inflation by lowering transportation and production costs. The group, led by Dr. Billy Gillis-Harry, on Monday praised NNPC for lowering its price from N920 to N875 per litre. However, in […]

ECOWAS intensifies efforts to launch single currency by 2027
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ECOWAS intensifies efforts to launch single currency by 2027

The Economic Community of West African States has reaffirmed its commitment to introducing a single regional currency, the Eco, by 2027. This resolve was highlighted during the 11th ECOWAS Convergence Council meeting in Abuja, where financial leaders gathered to strategize on accelerating the currency’s launch to strengthen economic integration and financial stability across the region. […]

Nigeria, UN allocates $500m to aid developers of solar energy
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Nigeria, UN allocates $500m to aid developers of solar energy

Nigeria, in collaboration with a United Nations agency, has set a $500 million target for a fund designed to support local developers of renewable energy, with a focus on expanding access to solar power in rural areas. According to Bloomberg, the initiative aims to boost renewable energy adoption through solar home systems and mini-grids, providing […]

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UN climate chief visits Nigeria for bold climate action talks

The Executive Secretary of the United Nations Framework Convention on Climate Change, Simon Stiell, is visiting Nigeria from March 4 to 7, 2025, to discuss the economic opportunities of a robust climate plan with government officials, business leaders, civil society, and other key stakeholders. According to a statement on Monday by the Director of the […]

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FG faces resistance in gold mining regulation – Minister

The Minister of Solid Minerals Development, Dele Alake, has acknowledged that the federal government’s efforts to regulate gold mining in Nigeria are being hindered by political, social, and cultural challenges. Despite the constitutional authority of the federal government over mineral resources, state governments exert significant influence due to their control over land under the Land […]

China 'firmly opposes coercion' as Mexico mulls car tariffs
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China strikes back with 15% tariffs on US goods

China has announced Tuesday additional upto tariffs and export controls on goods and companies in response to recent United States tariff increases on Chinese imports. These measures are in retaliation to the U.S. increasing tariffs on Chinese imports to 20% as of March 4. China is imposing new tariffs on U.S. agricultural goods, including a […]

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Badagry-Seme corridor responsible for 35% of smuggled fuel – Customs

The Nigeria Customs Service has reported that the Badagry-Seme corridor accounted for 35 per cent of smuggled Premium Motor Spirit in the past two weeks. Comptroller-General Adewale Adeniyi disclosed this on Monday while displaying seized petrol volumes at the Customs Training College in Ikeja. He said that a comprehensive analysis of seizure patterns along the […]

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NiMet, farmers partner on mitigation of climate disasters

The Nigerian Meteorological Agency and the Women Farmers Advancement Network, a non-profit dedicated to empowering smallholder farmers, particularly women and youth, have met to discuss strategies for reducing the impact of climate disasters on Nigerian farmers. NiMet made this disclosure in a statement on Monday. The agency’s Director-General, Charles Anosike, said, “I commend WOFAN for […]

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Nigeria, nine others account for 69% of Africa’s debt – Afreximbank

Nigeria is one of the 10 African countries that together account for 69 per cent of the continent’s total external debt, according to the Africa Trade Report 2024 by Afreximbank Research. Released in late February, the report titled “African Debt Outlook: A Ray of Optimism” examines the challenges and opportunities African nations face in managing […]

Bid for TikTok tightens as Reddit co-founder joins
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Bid for TikTok tightens as Reddit co-founder joins

Billionaire Frank McCourt announced on Monday that Alexis Ohanian, co-founder of Reddit and a venture capitalist, has joined his bid to acquire TikTok’s U.S. operations. Ohanian, an internet pioneer, founded Reddit with his University of Virginia roommate. He sold the platform to Conde Nast in 2006, later returning in 2014 as executive chairman to lead […]